On October 4, 2022 Harpoon Therapeutics, Inc. (Nasdaq: HARP), a clinical-stage immunotherapy company developing novel T cell engagers, reported the appointment of Luke Walker, M.D., as Chief Medical Officer. Dr. Walker will lead the clinical development strategy and its execution for Harpoon Therapeutics and the product candidates derived from the company’s multiple technology platforms (Press release, Harpoon Therapeutics, OCT 4, 2022, View Source [SID1234621686]). Dr. Walker will report to Julie Eastland, Harpoon Therapeutics’ President and Chief Executive Officer, and his appointment was effective October 3, 2022.

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"I’m excited to join Harpoon Therapeutics and work alongside science-driven, collaborative colleagues, who are driven by the potential to impact patients’ lives by developing novel therapeutics," said Dr. Walker. "Harpoon has multiple ongoing clinical programs with product candidates which have demonstrated meaningful clinical activity to reach a broad set of patients with high unmet medical needs. I look forward to working with the Harpoon team to move these clinical-stage product candidates forward and to advance the company’s platforms in both hematologic and solid tumors."

Dr. Walker comes to Harpoon Therapeutics from Seagen Inc. where he most recently served as Vice President of Clinical Development and was responsible for overseeing the global development of multiple early-stage clinical programs. At Seagen, he previously served as Global Development Lead for TUKYSA (tucatinib) through its approval and market launch for HER2-positive metastatic breast cancer. Dr. Walker came to Seagen through the acquisition of Cascadian Therapeutics, after having led the clinical development of the tucatinib program there from its early stages, working closely with other members of the current Harpoon leadership team and Board of Directors to successfully advance its development into pivotal studies. He received his Medical Degree from the University of Oklahoma Health Sciences Center and completed fellowship training in Hematology and Medical Oncology at Oregon Health Sciences University. After training, he practiced several years as a clinical medical oncologist prior to his career in clinical drug development.

"Harpoon warmly welcomes Dr. Walker to our senior leadership team," said Julie Eastland, President and Chief Executive Officer of Harpoon Therapeutics. "His experience in leading clinical development, as well as interactions with key opinion leaders, investigators and investors provides a strong addition to the leadership group. Dr. Walker is a proven leader who has overseen the strategy for oncology therapeutics from early-stage programs through the successful completion of pivotal registrational trials and approvals, and we believe his addition will provide significant strength for our clinical programs, as we advance our lead T cell engager product candidates, HPN328 and HPN217, through the clinic."

Inducement Award under NASDAQ Listing Rule 5635(c)(4)

In connection with Dr. Walker’s appointment, Harpoon Therapeutics granted him an inducement non-qualified stock option to purchase an aggregate of 305,000 shares of Harpoon’s common stock.

The stock option grant has an exercise price per share equal to $1.08, Harpoon’s closing trading price on Nasdaq on the grant date, October 3, 2022, and will vest over four years, with 1/4 of the underlying shares vesting on the one-year anniversary of the grant date and 1/36th of the underlying shares vesting monthly thereafter over 36 months, subject to Dr. Walker’s continued service relationship with Harpoon through the applicable vesting dates.

The independent directors of Harpoon’s Board of Directors approved the award as an inducement material to Dr. Walker’s employment in accordance with Nasdaq Listing Rule 5635(c)(4).

On October 4, 2022 Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, reported an update on its RAMP (Raf And Mek Program) clinical trials (Press release, Verastem, OCT 4, 2022, View Source [SID1234621685]).

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RAMP 201 in Patients with Recurrent Low Grade Serous Ovarian Cancer (LGSOC)

Verastem recently conducted a second planned interim analysis of the ongoing RAMP 201 trial among patients with recurrent LGSOC. Based on the results, including independently confirmed responses and no new safety signals, the Company is planning to meet with the U.S. Food and Drug Administration (FDA) in the fourth quarter to review the data set, discuss the go forward treatment regimen selection and align on a regulatory path forward.

"We are pleased with the encouraging results to date from our RAMP 201 trial in patients with recurrent low-grade serous ovarian cancer as we continue to see independently confirmed response rates, no new safety signals and a majority of patients still on treatment," said Brian Stuglik, Chief Executive Officer of Verastem Oncology. "As part of our Breakthrough Therapy Designation status and ongoing communications with the FDA, we look forward to our upcoming meeting to align on a regulatory path forward to advance this potential option for patients with LGSOC, who have a high unmet need and no approved therapies to treat their disease."

Since the first interim analysis announced in June, the trial has been continuing with all four cohorts (VS-6766 ± defactinib in KRAS mutant and KRAS wild type patient populations) with full enrollment based on the study protocol expected by the end of the year. Interim results will not be released at this time to ensure the integrity of this ongoing, registration-directed clinical trial.The Company will provide an update after the upcoming meeting with the FDA.

RAMP 202 in Patients with KRAS G12V-Mutant Non-Small Cell Lung Cancer

In a planned analysis of the Part A data from the RAMP 202 trial among patients with KRAS G12V NSCLC treated with the combination of VS-6766 and defactinib (n=19), the confirmed overall response rate (ORR) by independent review was 11% (2 of 19) with a disease control rate of 37%. The ORR with non-G12V KRAS mutations was 5% (2 of 37) (one confirmed and one unconfirmed by independent review) with a disease control rate of 54%, and no subtype was identified for further clinical evaluation of VS-6766 with defactinib in this trial. Verastem plans to present the Part A results of RAMP 202 at an upcoming medical congress.

"While this combination of VS-6766 and defactinib did not meet the pre-defined criteria to continue in the RAMP 202 trial, we remain optimistic about other combinations with VS-6766 in NSCLC," said Brian Stuglik, Chief Executive Officer of Verastem Oncology. "We will continue to analyze the results of the trial and include the findings in our development plans moving forward as we evaluate additional combinations for VS-6766 to best maximize its potential benefit."

RAMP 203 and RAMP 204 in Patients with KRAS G12C-Mutant NSCLC

The RAMP 203 Phase 1/2 trial to evaluate the safety, tolerability and efficacy of VS-6766 in combination with Amgen’s KRAS G12C inhibitor LUMAKRASTM (sotorasib) in patients with KRAS G12C-mutant NSCLC, has advanced to the Cohort 2 of 4mg VS-6766 in combination with 960mg of LUMAKRASTM. Initial results are expected by the fourth quarter of this year. The RAMP 204 Phase 1/2 trial of VS-6766 and Mirati’s adagrasib, which will determine the maximum tolerated dose and recommended Phase 2 dose for the combination and evaluate the safety, tolerability and efficacy of the combination in patients who have progressed on a KRAS G12C inhibitor, is open and enrolling.

These studies will investigate the potential benefits of a more complete vertical blockade of the RAS pathway as acquired resistance to KRAS G12C inhibitors in patients occurs predominantly through additional mutations in the RAS pathway, many of which could be addressed with a downstream inhibitor such as VS-6766.

RAMP 205 in Patients with Frontline Metastatic Pancreatic Cancer

The Company plans to open the RAMP 205 Phase 1b/2 clinical trial of VS-6766 with defactinib in addition to standard of care chemotherapy (gemcitabine/nab-paclitaxel regimen) in frontline metastatic pancreatic cancer in the fourth quarter of this year. The trial, in partnership with the Pancreatic Cancer Action Network (PanCAN) will evaluate whether a more complete blockade of KRAS signaling, which is mutated in more than 90% of pancreatic cancer tumors, will improve outcomes for patients with pancreatic cancer.

Corporate Updates

Intermittent dosing intellectual property for both VS-6766 alone (previously announced) and in combination with defactinib was recently allowed, extending patent coverage up to 2038 and 2040, respectively.

As of August 31, 2022, Verastem Oncology had cash, cash equivalents and investments of $110.4 million.

About VS-6766

VS-6766 is a RAF/MEK clamp that induces inactive complexes of MEK with ARAF, BRAF and CRAF potentially creating a more complete and durable anti-tumor response through maximal RAS pathway inhibition. VS-6766 is currently in late-stage development.

In contrast to other MEK inhibitors, VS-6766 blocks both MEK kinase activity and the ability of RAF to phosphorylate MEK. This unique mechanism allows VS-6766 to block MEK signaling without the compensatory activation of MEK that appears to limit the efficacy of other inhibitors. The U.S. Food and Drug Administration granted Breakthrough Therapy designation for the combination of Verastem Oncology’s investigational RAF/MEK clamp VS-6766, with defactinib, its FAK inhibitor, for the treatment of all patients with recurrent low-grade serous ovarian cancer (LGSOC) regardless of KRAS status after one or more prior lines of therapy, including platinum-based chemotherapy.

Verastem Oncology is currently conducting clinical trials with its RAF/MEK clamp in RAS-driven tumors as part of its (Raf And Mek Program). RAMP 201 is a registration-directed trial of VS-6766 alone and in combination with defactinib in patients with recurrent LGSOC. Verastem Oncology has established clinical collaborations with Amgen and Mirati to evaluate LUMAKRAS (sotorasib) and adagrasib in combination with VS-6766 in KRAS G12C mutant NSCLC as part of the RAMP 203 and RAMP 204 trials, respectively. As part of the "Therapeutic Accelerator Award" Verastem Oncology received from the Pancreatic Cancer Network (PanCAN), the Company is conducting RAMP 205, a Phase 1b/2 clinical trial evaluating VS-6766 and defactinib with gemcitabine/nab-paclitaxel in patients with front-line metastatic pancreatic cancer.

On October 4, 2022 Autolus Therapeutics plc (Nasdaq: AUTL), a clinical-stage biopharmaceutical company developing next-generation programmed T cell therapies, reported that it has entered into an agreement with Bristol Myers Squibb (NYSE: BMY) (Press release, Autolus, OCT 4, 2022, View Source [SID1234621684]). The agreement grants Bristol Myers Squibb access to incorporate Autolus’ proprietary RQR8 safety switch into an initial set of selected cell therapy programs on a target-by-target basis for the treatment of cancer, with an option for Bristol Myers Squibb to incorporate the RQR8 safety switch in additional cell therapy programs beyond the initial set of selected programs.

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Managing toxicities is a critical step in the successful application of programed cell therapies. Safety switches are designed to allow the use of pharmacological agents to selectively eliminate a cell therapy in the event a patient experiences severe adverse side effects from the treatment. Autolus’ proprietary RQR8 switch works by administration with the widely available and approved pharmaceutical antibody, rituximab. Once administered, rituximab binds to the engineered CD20 epitopes on the surface of the cell therapy and triggers selective cell death1.

Safety switches form part of Autolus’ industry-leading suite of cell programing modules that are designed to provide precise targeting, controlled, enhanced and sustained CAR T activity in a hostile tumor microenvironment.

Under the terms of the agreement, Autolus will receive an upfront payment for access to the RQR8 safety switch for the initial set of cell therapy programs with the potential for near term option exercise fees and development milestone payments. In addition, Autolus would be entitled to receive royalties on net sales of all Bristol Myers Squibb cell therapy products that incorporate the RQR8 safety switch.

"Safety switches are critical to the future of our field of advanced cell therapies. They allow us to develop approaches that are designed to significantly improve patient outcomes, whilst at the same time incorporating the potential to reduce the risk of severe adverse side effects from the treatment," said Dr. Martin Pule, CSO of Autolus. "Next-generation, modular CAR T innovation is at the core of Autolus and RQR8 is incorporated in several of our product candidates. We look forward to partnering with Bristol Myers Squibb to bring the potential utility of our proprietary safety switch to their programs. I would like to take this opportunity to thank our excellent research team at Autolus for their continued hard work."

On October 4, 2022 Imugene Limited (ASX:IMU), a clinical stage immuno-oncology company, reported the appointment of Dr Giovanni Selvaggi as Chief Medical Officer (CMO) (Press release, Imugene, OCT 4, 2022, View Source [SID1234621683]).

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Dr Selvaggi is a pulmonologist, trained in thoracic malignancies management with a focus on lung cancers and mesothelioma. He brings more than a decade of experience in the pharmaceutical industry which has seen him in clinical development focused roles of increasing responsibility with GlaxoSmithKline (GSK), Novartis Oncology and Bristol Myers Squibb.

Dr Selvaggi held a pivotal role in Novartis successful development and approval of ceritinib (or Zykadia, targeting non-small cell lung cancer/NSCLC) and was part of the immunotherapy team at Bristol Myers Squibb that led to the approval of nivolumab (Opdivo) in third line small cell lung cancer.

His most recent role with US oncology company Xcovery Holdings Inc saw Dr Selvaggi progress from CMO to be appointed CEO and CMO early in 2021. Prior to this Dr Selvaggi also served as Vice President, Clinical Development at Oncolytics Biotech in Canada. Additionally, he has been a well-regarded presenter at major international medical conferences as well as having authored numerous peer reviewed articles in major oncology journals.

Prior to entering the pharmaceutical sector Dr Selvaggi was as an attending physician at Thoracic Oncology-San Luigi Hospital in Turin, Italy. This included being an investigator on various oncology clinical trials.

Dr Selvaggi studied at the Medical School at the University of Torino in Italy, where he also completed his Residency in Respiratory Medicine at the Postgraduate Medical School.

Imugene’s M.D. & CEO, Ms Leslie Chong said: "We are delighted to welcome Dr Selvaggi to the Imugene team as our clinical development activities grow in both number and importance. He brings big pharma prowess that we expect to be very valuable, as well as having an excellent understanding of the experience of the institutions and investigators typically associated with drug development. He’s another excellent appointment to the world-class team we’re building."

On October 4, 2022 Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) (the "Company" or "Sonnet BioTherapeutics"), a clinical-stage company developing targeted immunotherapeutic drugs, reported that it received notice from The Nasdaq Stock Market LLC (Nasdaq) on October 3, 2022 informing Sonnet that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing on The Nasdaq Capital Market (Press release, Sonnet BioTherapeutics, OCT 4, 2022, View Source [SID1234621682]). In order to regain compliance with the Rule, the Company’s common stock was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. That requirement was met on September 30, 2022.

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Stockholders’ Equity Deficiency

As previously reported, on August 22, 2022, the Company received notice from Nasdaq advising the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the "Stockholders’ Equity Requirement"). The notice had no immediate effect on the listing of the Company’s common stock and the Company’s common stock continues to trade on The Nasdaq Capital Market under the symbol "SONN," subject to the Company’s compliance with the other continued listing requirements. Pursuant to the notice, Nasdaq has given the Company 45 calendar days, or until October 6, 2022, to submit to Nasdaq a plan to regain compliance. If the Company’s plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice to evidence compliance. The Company is currently evaluating various courses of action to regain compliance and plans to timely submit its plan to Nasdaq to regain compliance with the Stockholders’ Equity Requirement.

There can be no assurance that the Company’s plan will be accepted or that if it is, the Company will be able to regain compliance. If the Company’s plan to regain compliance is not accepted, or if it is and the Company does not regain compliance within 180 days from the date of Nasdaq’s letter, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that the Company’s common stock will become subject to delisting. In such event, Nasdaq rules would permit the Company to appeal the decision to reject the Company’s proposed compliance plan or any delisting determination to a Nasdaq Hearings Panel. The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process and the expiration of any additional extension period granted by the panel following the hearing.