Tempest Provides ASCO KOL Feedback on TPST-1120 Clinical Results and Updated Financial Guidance

On June 9, 2022 Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company developing therapies that combine both targeted and immune-mediated mechanisms, reported that key takeaways from the TPST-1120 clinical program provided by Mark Yarchoan, M.D., associate professor of oncology at Johns Hopkins School of Medicine, at its June 5th investor event held in connection with the 2022 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting in Chicago, IL (Press release, Tempest Therapeutics, JUN 9, 2022, View Source [SID1234615808]). The company also revised its cash guidance. Dr. Yarchoan also presented the TPST-1120 Phase 1 results in an oral presentation at ASCO (Free ASCO Whitepaper) on Tuesday, June 7.

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Dr. Yarchoan reviewed and discussed TPST-1120 results both as a single agent and in combination with nivolumab in a webcast presentation that is available on the Tempest website at View Source His conclusions include:

The monotherapy arm consisted of one of the more challenging groups of tumors to treat in a Phase 1 trial, e.g., dominated by patients with late-line pancreatic and cholangiocarcinoma (CCA), where he considered stable disease a "win."
A number of patients in the monotherapy arm had meaningfully-prolonged stable disease, showing that TPST-1120 has activity as a monotherapy
Two patients with IDH1 mutated CCA, a mutation found in ~15-30% of intrahepatic CCA, had stable disease extending out to five and ten months, respectively, vs. less than three months for historical standard-of-care values, indicating that an IDH1 mutation is a potential biomarker for patient sensitivity to TPST-1120
In the combination arm, two patients with renal cell carcinoma (RCC) and one with metastatic CCA achieved partial response when treated with the higher doses of TPST-1120 in combination with pembrolizumab
Both RCC patients had progressed on prior anti-PD1 therapy, providing strong evidence that TPST-1120 overcomes resistance to anti-PD1 therapy
The patient with metastatic CCA had received multiple lines of prior systemic therapy and was PDL1-negative, mismatch repair proficient, and had a TMB of less than 10 mutations per megabase, supporting that TPST-1120 can reprogram the TME in immune-resistant type cancers
TPST-1120 Monotherapy Results

In the monotherapy portion of the trial, 19 evaluable patients with late-line treatment-refractory solid tumors, including pancreatic, cholangiocarcinoma, and colorectal cancers, were treated with oral twice-daily TPST-1120. The results showed that 53% (10/19) of patients experienced clinical benefit in the form of disease control, including tumor shrinkage in 21% of the patients. Two patients with late-line CCA, an aggressive tumor type and disease setting usually unresponsive to therapy, including IO therapies, achieved durable stable disease and one of the patients achieved durable tumor shrinkage.

TPST-1120 and Nivolumab Combination Therapy Results

In the combination therapy portion of the trial, 15 evaluable patients with heavily-pretreated renal cell carcinoma, hepatocellular carcinoma (HCC) and CCA were treated with oral twice-daily TPST-1120 and the anti-PD-1 therapy, nivolumab. All of the HCC and RCC patients had received an approved anti-PD-1 therapy in at least one prior line of therapy and discontinued that treatment due to disease progression. Promising objective responses (RECIST v1.1) were observed in two patients with late-line RCC who had previously progressed on anti-PD-1 therapy without an objective response (ORR 50%, n=2/4, in evaluable RCC patients). A third RECIST response was observed in a patient with late-line, heavily pre-treated CCA, a tumor type generally not responsive to anti-PD-1 alone.

Notably, all three responders were treated at the two highest doses of TPST-1120 (ORR 30%, 3/10).

Safety

TPST-1120 was well tolerated as both a monotherapy and in combination with nivolumab. The majority of the treatment-related adverse events were Grade 1 and 2, and included nausea, fatigue and diarrhea. No dose-limiting toxicities were reported during dose escalation.

Financial Update

Following the $15 million private investment in public equity financing completed in April 2022, Tempest’s cash and cash equivalents are currently expected to be sufficient to fund its current operating plans into the first quarter of 2024.

About TPST-1120

TPST-1120 is a first-in-class1 oral selective PPAR⍺ antagonist with a dual mechanism designed to target both tumor cells directly and suppressive immune cells in the tumor microenvironment. Both types of targeted cells are dependent on fatty acid metabolism, which is regulated by the PPAR⍺ transcription factor. In extensive non-clinical studies, TPST-1120 as a monotherapy and in combination with other anti-cancer drugs resulted in significant reductions in tumor growth and stimulation of durable anti-tumor immunity. In addition to the study presented at ASCO (Free ASCO Whitepaper), in collaboration with F. Hoffmann La Roche, TPST-1120 is also advancing through a randomized, first-line, global, Phase 1b/2 clinical study in combination with the standard-of-care regimen of atezolizumab and bevacizumab in patients with advanced or metastatic hepatocellular carcinoma.

Fusion Pharmaceuticals Provides Updates on FPI-1434 and FPI-1966 Clinical Programs

On June 9, 2022 Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, reported updates on its Phase 1 clinical trial evaluating FPI-1434 as a monotherapy for the treatment of solid tumors expressing IGF-1R and its Phase 1 clinical trial evaluating FPI-1966 for the treatment of solid tumors expressing FGFR3 (Press release, Fusion Pharmaceuticals, JUN 9, 2022, View Source [SID1234615807]). In the FPI-1434 trial, the Company now expects to report Phase 1 safety, pharmacokinetics, and imaging data, including any evidence of anti-tumor activity, and details on the dosing regimen, in the first half of 2023, rather than in the second half of 2022. Fusion is also updating guidance for FPI-1966 and expects to dose the first patient in this study in the second half of 2022, rather than in the second quarter of 2022.

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"Fusion is pioneering the development of next-generation, alpha-emitting radiopharmaceuticals, and we are working to identify the most effective dosing regimen that maximizes the therapeutic window in new these treatment paradigms," said Fusion Chief Executive Officer John Valliant, Ph.D. "To this end, we are evaluating two potential dosing regimens in our FPI-1434. Initial data from a sub-study of the "cold antibody" dosing regimen, to be presented in full next week at the Society of Nuclear Medicine and Medical Imaging (SNMMI) annual meeting, showed encouraging early results of the ability to maximize the therapeutic window and drive higher doses into the tumor. Following the protocol amendment to incorporate the cold antibody study arm, sites have been slow to initiate and, as a result, patient enrollment in this portion of the study is now lagging our prior forecasts, delaying the availability of the data from our original expectations. While our timelines are extended, we believe it is important to pursue optimization of this cold antibody dosing regimen and we look forward to presenting the full dataset in the first half of 2023.

Dr. Valliant continued: "We’ve experienced similar study site startup challenges in our Phase 1 trial of FPI-1966. As a result, we are updating guidance for timing of the first patient to be dosed, and now expect it to occur in the second half of this year. Delays are resulting from what we believe is a combination of staffing/resourcing shortages and administrative complications with various review boards for radiopharmaceuticals at the trial sites, and we have mitigation plans in place to address them. Importantly, our conviction in these programs and investigator enthusiasm remains strong, particularly given our pursuit of cancer types with high unmet medical need."

Overview of FPI-1434 Phase 1 Clinical Trial

In the Phase 1 study, Fusion is exploring various dosing levels of FPI-1434 as well as two dosing regimens: one with FPI-1434 alone, and another in which a small dose of cold antibody (naked IGF-1R antibody without the isotope) is administered prior to each dose of FPI-1434.
Data observed from a completed cold-antibody sub-study demonstrate the potential of pre-dosing cold antibody prior to FPI-1434 to increase the tumor to non-tumor distribution ratio of the radiopharmaceutical and thereby potentially improve the therapeutic window. As a result, Fusion initiated the dosing regimen evaluating pre-administration of cold antibody prior to FPI-1434 following a protocol amendment to the ongoing Phase 1 study of FPI-1434. Fusion expects to present more detailed data from the cold-antibody sub-study at the Society of Nuclear Medicine and Medical Imaging (SNMMI) 2022 Annual Meeting taking place in Vancouver, British Columbia from June 11-14, 2022.
Given the protocol amendment to include the dosing regimen evaluating pre-administration of cold-antibody and the time required to generate sufficient data to be able to provide information on both dosing paradigms, as well as ongoing enrollment challenges relating to staffing and resourcing issues at trial sites, and additional review boards required at trial sites for novel alpha-emitting radiopharmaceuticals, Fusion now expects to report Phase 1 safety, pharmacokinetics, and imaging data, including any evidence of anti-tumor activity, and details on the dosing regimen, in the first half of 2023.
Overview of FPI-1966 Phase 1 Clinical Trial

The Phase 1, non-randomized, open-label clinical trial of FPI-1966 in patients with solid tumors expressing FGFR3, intended to investigate safety, tolerability and pharmacokinetics and to establish the recommended Phase 2 dose, has been initiated.
The first cohort in this study will comprise four sub-groups in which various doses of non-radiolabeled vofatamab (cold antibody) will be evaluated to assess the impact of pre-dosing on tumor uptake.
As previously disclosed, Fusion experienced initial challenges with study site initiations and is further experiencing enrollment challenges similar to the FPI-1434 study, including study backlogs as COVID-19 headwinds ease, staffing shortages at trial sites, and additional review boards required at trial sites for novel alpha-emitting radiopharmaceuticals. As a result, Fusion now expects to dose the first patient in the FPI-1966 Phase 1 study in the second half of 2022. In addition, Fusion plans to provide updated guidance for preliminary pharmacokinetic, imaging and safety data from the first patient cohort once patient enrollment begins.
About FPI-1434
FPI-1434 is a radioimmunoconjugate designed to target and deliver alpha emitting medical isotopes to cancer cells expressing IGF-1R, a receptor that is overexpressed on many tumor types. FPI-1434 utilizes Fusion’s Fast-Clear linker to connect a human monoclonal antibody that targets IGF-1R with actinium-225, a powerful alpha-emitting isotope with desirable half-life and decay chain properties.

About FPI-1966
FPI-1966 is a targeted alpha therapy designed to target and deliver an alpha emitting medical isotope, actinium-225, to cancer cells expressing FGFR3; a receptor that is overexpressed on several tumor types, including head and neck and bladder cancers. FPI-1966 utilizes Fusion’s Fast-Clear linker to connect vofatamab, the human monoclonal antibody that targets FGFR3, with actinium-225. Vofatamab was previously evaluated as a therapeutic agent in a Phase 1b/2 trial and was reportedly well-tolerated.

HOOKIPA to Participate in the JMP Securities Life Sciences Conference

On June 9, 2022 HOOKIPA Pharma Inc. (NASDAQ: HOOK, ‘HOOKIPA’), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, reported that the company will participate in investor meetings at the JMP Securities Life Sciences Conference being held in New York City, June 15 – 16, 2022 (Press release, Hookipa Biotech, JUN 9, 2022, View Source [SID1234615805]).

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Ferring Announces New Collaboration for Development of Olamkicept

On June 9, 2022 Ferring Pharmaceuticals reported it has entered into a strategic collaboration with I-Mab to further develop olamkicept in inflammatory bowel disease (IBD) and related inflammatory conditions (Press release, Ferring, JUN 9, 2022, View Source [SID1234615804]).

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Olamkicept is the first and only clinical stage selective interleukin-6 inhibitor that works through the trans-signaling mechanism. Interleukin-6 is associated with a number of inflammatory conditions, such as IBD. In 2021, positive results from a Phase 2 study evaluating the efficacy and safety of olamkicept in patients with active ulcerative colitis (UC) were presented at the European Crohn’s and Colitis Organization (ECCO) meeting.

Ferring had previously entered into a license agreement with I-Mab in 2016 that granted I-Mab exclusive rights to develop and commercialize olamkicept in Greater China and South Korea. This new collaboration enables Ferring to invest in the development of olamkicept globally and provides an option for I-Mab to collaborate with Ferring in the future development of olamkicept at a pre-defined development milestone. The financial details of this deal are undisclosed.

"Ferring is committed to developing novel therapies where unmet needs remain for patients living with complex medical conditions, including inflammatory bowel disease," said Araz Raoof, President of Ferring Research Institute and Senior Vice President, Global Drug Discovery & External Innovation at Ferring Pharmaceuticals. "We are excited to expand our collaboration and advance olamkicept globally, as we continue to invest in our specialty area of gastroenterology."

Race Oncology Announces On-Market Share Buyback

On June 9 2022 Race Oncology Limited ("Race") reported the Board has approved an on-market share buyback for up to 4 million Race Oncology ordinary shares over the next 12 months (Press release, Race Oncology, JUN 9, 2022, View Source [SID1234615803]).

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Race Oncology’s Board believes an on-market buyback is an efficient capital management option available to maximize shareholder value. All committed clinical and preclinical programs as outlined in the November 2021 Share Purchase Plan remain fully funded.

The structure of an on-market buyback allows Race Oncology to take advantage of share price volatility through opportunistic share purchases during periods in which the share price does not reflect the robust outlook for the company.

The on-market buyback does not require shareholder approval and will be executed at Race Oncology’s discretion. The buyback will remain in place for a period of up to 12 months or until completed. Race may vary, suspend or terminate the buyback based on its view of market conditions and other factors. The shares that are bought will be purchased at a price of not more than 5% above the 5-day volume weighted average price of Race’s shares.