Horizon Therapeutics plc Announces $500 Million Share Repurchase Program

On September 9, 2022 Horizon Therapeutics plc (Nasdaq: HZNP) reported that its Board of Directors authorized the repurchase of up to $500 million of the Company’s ordinary shares (Press release, Horizon Therapeutics, SEP 9, 2022, View Source [SID1234619329]).

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"This share repurchase program reinforces the confidence we have in our strategy and our commitment to deliver long-term value to our shareholders," said Tim Walbert, chairman, president and chief executive officer, Horizon. "Our strong balance sheet and cash generation gives us the flexibility to opportunistically repurchase shares while maintaining ample capital to continue prioritizing business development."

Under the program, the Company may repurchase ordinary shares from time to time on the open market or through privately negotiated transactions or structured repurchase transactions. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934. The Company may also enter into Rule 10b5-1 plans to facilitate repurchases of its shares under the program. The timing and amount of repurchases will depend on a variety of factors, including the price of the Company’s ordinary shares, alternative investment opportunities, customary restrictions under the Company’s debt agreements, corporate and regulatory requirements and market conditions. The program does not obligate the Company to repurchase any particular amount of its ordinary shares and the program may be modified, suspended or otherwise discontinued at any time without prior notice.

As of June 30, 2022, the Company had cash and cash equivalents of $1.89 billion. The Company expects to fund the repurchase of its ordinary shares under the program with existing cash and cash equivalents.

Novartis Kisqali® adds one more year of survival benefit for broadest set of patients, including those with aggressive HR+/HER2- advanced breast cancer

On September 9, 2022 Novartis reported results from a new pooled exploratory analysis across the entire MONALEESA Phase III program, confirming nearly one year of additional overall survival (OS) benefit in a subgroup of patients with aggressive forms of hormone receptor-positive, human epidermal growth factor receptor-2 negative (HR+/HER2-) advanced breast cancer (aBC)1 (Press release, Novartis, SEP 9, 2022, View Source [SID1234619328]). This subgroup analysis found that patients with visceral metastases—including liver metastases and multiple metastatic sites, which are typically associated with a poor prognosis—who were treated with Kisqali (ribociclib) plus endocrine therapy in the first-line setting, achieved a median OS of 62.7 months compared to 52.1 months for those treated with endocrine therapy alone (HR=0.79; 95% CI: 0.65-0.97)1. Data from this analysis will be presented at the European Society of Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress in Paris, France.

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"Patients who have visceral metastases typically have a worse prognosis and often demonstrate resistance to treatment, so as a clinician it is encouraging to see significant survival benefit with ribociclib in the first-line setting in patients with more aggressive disease," said Denise A. Yardley, MD, Senior Investigator, Breast Cancer Research Program, Sarah Cannon Research Institute at Tennessee Oncology, USA. "Ribociclib is the only CDK4/6 inhibitor to show a consistent overall survival benefit in combination with endocrine therapy, while also maintaining quality of life across the Phase III program."

Those with liver metastases on Kisqali plus endocrine therapy in the first-line achieved 44.2 months median OS compared to 38.1 months for those on endocrine therapy alone (HR=0.77; 95% CI: 0.55-1.07). For patients with visceral metastases in three or more organs, first-line
treatment with Kisqali-endocrine therapy achieved 57.7 months median OS compared to 49.3 months for those on endocrine therapy alone (HR=0.81; 95% CI: 0.63-1.03)1.

"The goal for advanced breast cancer treatment is to help people live longer, and we are proud that Kisqali continues to deliver a significant survival benefit while also maintaining quality of life, even for those with harder-to-treat disease," said Jeff Legos, Executive Vice President, Global Head of Oncology and Hematology at Novartis. "We are committed to demonstrating what makes Kisqali a unique CDK4/6 inhibitor, thus providing patients and oncologists confidence in this therapeutic option."

HARMONIA head-to-head CDK4/6 inhibitor trial design
Also at ESMO (Free ESMO Whitepaper), the trial design will be presented for HARMONIA, the first prospective, head-to-head Phase III trial of CDK4/6 inhibitors being conducted in collaboration with SOLTI Innovative Cancer Research, to evaluate Kisqali vs. Ibrance* (palbociclib) for patients with advanced HR+/HER2-, HER2-enriched subtype, ultimately exploring what makes Kisqali unique at a molecular level13. HARMONIA seeks to test if Kisqali improves the course of HR+/HER2- aBC by changing tumor biology to enable a better response to endocrine therapy as compared to Ibrance*, and could further substantiate differences seen among these CDK4/6 inhibitors. HER2-enriched is an intrinsic subtype associated with a very poor prognosis and endocrine-resistance, as compared to luminal disease. The global, multicenter, randomized, open-label, Phase III study has a primary outcome of progression-free survival (PFS), and secondary outcomes include OS and PFS2. HARMONIA is currently ongoing with an anticipated enrollment of 456 patients.

About Kisqali (ribociclib)
Kisqali is the only CDK4/6 inhibitor with proven overall survival benefit across all its three pivotal Phase III advanced breast cancer trials2-12, and is recognized by the National Comprehensive Cancer Network (NCCN) guidelines as the only CDK4/6 inhibitor with overall survival benefit in first-line HR+/HER2- advanced breast cancer14. Additionally, Kisqali has the highest rating of any CDK4/6 inhibitor on the ESMO (Free ESMO Whitepaper) Magnitude of Clinical Benefit Scale, achieving a score of five out of five for first-line premenopausal patients with HR+/HER2- advanced breast cancer15. Further, Kisqali in combination with either letrozole or fulvestrant has uniquely, among other CDK4/6i, received a score of four out of five for postmenopausal patients with HR+/HER2- advanced breast cancer treated in the first line16.

Kisqali has been approved in more than 95 countries worldwide, including by the United States Food and Drug Administration (FDA) and the European Commission, for the treatment of women with HR+/HER2- advanced or metastatic breast cancer in combination either with an aromatase inhibitor or with fulvestrant as initial endocrine-based therapy or following disease progression on endocrine therapy13,17. Kisqali in combination with fulvestrant is approved as initial endocrine-based therapy or following disease progression on endocrine therapy in men by the FDA17.

Novartis is committed to continuing to study Kisqali in breast cancer. NATALEE is a large Phase III clinical trial of Kisqali with endocrine therapy in the adjuvant treatment of HR+/HER2- early breast cancer being conducted in collaboration with Translational Research In Oncology (TRIO)18. Additionally, Novartis is collaborating with the Akershus University Hospital in Norway on the NEOLETRIB trial, a neoadjuvant Phase II trial studying the effects of Kisqali in HR+/HER2- early breast cancer and to discover the potentially unique underlying mechanism of action19.

Kisqali was developed by the Novartis Institutes for BioMedical Research (NIBR) under a research collaboration with Astex Pharmaceuticals.

Please see full Prescribing Information for Kisqali, available at www.Kisqali.com.

About Novartis in Advanced Breast Cancer
Novartis tackles breast cancer with superior science, collaboration and a passion for transforming patient care. We’ve taken a bold approach to our research by including patient populations often neglected in clinical trials, identifying new pathways or mutations that may play a role in disease progression and developing therapies that not only maintain, but also improve, quality of life for patients. Our priority over the past 30 years and today is to deliver treatments proven to improve and extend lives for those diagnosed with metastatic breast cancer.

Volastra Therapeutics to Present Preclinical Data from KIF18A Inhibitor Program Targeting Chromosomally Unstable Tumors at FASEB Aneuploidy Conference

On September 9, 2022 Volastra Therapeutics, an oncology company focused on exploiting chromosomal instability (CIN), reported new data from its lead program, a KIF18A inhibitor, validating its therapeutic approach of synthetic lethality to induce tumor cell death (Press release, Volastra Therapeutics, SEP 9, 2022, View Source;utm_medium=rss&utm_campaign=volastra-therapeutics-to-present-preclinical-data-from-kif18a-inhibitor-program-targeting-chromosomally-unstable-tumors-at-faseb-aneuploidy-conference [SID1234619327]). The data will be presented at the 2022 Consequences of Aneuploidy Conference, organized by the Federation of American Societies for Experimental Biology (FASEB), which takes place September 11 – 16, 2022, in Southbridge, Mass.

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KIF18A is a mitotic kinesin that regulates chromosome alignment during cell division. Leveraging its proprietary CINtech platform, Volastra discovered that CIN-high cancer cells are more dependent on chromosome alignment machinery like KIF18A and are thus more vulnerable to KIF18A inhibition than normal cells.

"Despite the prevalence of chromosomal instability across many tumor types, it has not been fully exploited therapeutically. We are excited to share new preclinical data from our KIF18A inhibitor program showing the ability of this compound to inhibit tumor growth in multiple different models of CIN-high cancer, while leaving normal proliferating cells intact," said Michael Su, Ph.D., Chief Scientific Officer at Volastra. "These findings set our KIF18A inhibitor apart from traditional chemotherapies, which can have a detrimental impact on healthy cells. We anticipate initiating a Phase 1 study for this potential best-in-class KIF18A inhibitor in the second half of 2023."

The FASEB keynote speaker, Professor David Pellman, M.D., of the Dana-Farber Cancer Institute and Volastra Scientific Advisory Board member, states, "The therapeutic potential of targeting chromosomal instability is increasingly compelling. These new data from Volastra’s KIF18A inhibitor further support the promise of developing new and better cancer therapies through a deep understanding of this vulnerability."

Details of Volastra’s oral data presentation at the Consequences of Aneuploidy Conference are as follows:

Title: "Discovery and Development of KIF18A Inhibitors for the Treatment of Chromosomally Unstable Tumors"

Session: Aneuploidy and Tumor Therapy

Date and Time: Tuesday, September 13, 2022; 2:20 p.m. ET

Presenter: Christina Eng, Ph.D., Vice President, Head of Biology, Volastra Therapeutics

About Volastra’s CINtech Platform

Volastra’s CINtech platform harnesses a deep biological understanding of chromosomal instability (CIN) as cancer’s most targetable vulnerability to develop promising therapies for patients. CINtech integrates proprietary imaging technologies, model cell line systems and computational analytics to drive a broad and differentiated pipeline. Volastra recently announced a multi-year, up to $1.1 billion, drug discovery collaboration with Bristol Myers Squibb leveraging Volastra’s proprietary CINtech platform to identify CIN-related targets. In addition, Volastra has a partnership with Microsoft to develop AI technologies for the interrogation of CIN.

TG Therapeutics to Participate in the H.C. Wainwright 24th Annual Global Investment Conference

On September 9, 2022 TG Therapeutics, Inc. (NASDAQ: TGTX), reported that Michael S. Weiss, the Company’s Chairman and Chief Executive Officer, will participate virtually in a fireside chat at the H.C. Wainwright Global Investment Conference taking place September 12 – 14, 2022 (Press release, TG Therapeutics, SEP 9, 2022, View Source [SID1234619326]).

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A webcast of the fireside chat will be available for on demand download beginning on Monday, September 12, 2022, at 7:00 AM ET on the conference website. The webcast will also be available on TG’s website at View Source

Regeneron Announces Investor Call and Webcast at ESMO 2022

On September 9, 2022 Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) reported that will host a conference call and simultaneous webcast to share updates on the company’s oncology portfolio in conjunction with the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Annual Congress on Monday, September 12, 2022 (Press release, Regeneron, SEP 9, 2022, View Source [SID1234619325]). The webcast is scheduled for 8:00 AM ET (2:00 PM CEST) and may be accessed from the "Investors & Media" page of Regeneron’s website at View Source To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the webcast will be archived on the Company’s website for at least 30 days.

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