FibroGen to Report Third Quarter 2022 Financial Results

On October 24, 2022 FibroGen, Inc. (NASDAQ: FGEN) reported that it will announce its third quarter 2022 financial results on Monday, November 7 after the market close (Press release, FibroGen, OCT 24, 2022, View Source [SID1234622298]). FibroGen will also conduct a conference call on that day at 5:00 p.m. ET (2:00 p.m. PT) with the investment community to further detail the company’s corporate and financial performance.

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Conference Call and Audio Webcast
Interested parties may access a live audio webcast of the conference call via the "Investor Relations" page of the Company’s website at www.fibrogen.com. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at the following link (webcast replay).

Fate Therapeutics to Webcast Conference Call Reporting Third Quarter 2022 Financial Results

On October 24, 2022 Fate Therapeutics, Inc. (the "Company" or "Fate Therapeutics") (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, reported that the Company will host a conference call and live audio webcast on Thursday, November 3, 2022 at 5:00 PM ET to report its third quarter 2022 financial results and provide a corporate update (Press release, Fate Therapeutics, OCT 24, 2022, https://ir.fatetherapeutics.com/news-releases/news-release-details/fate-therapeutics-webcast-conference-call-reporting-third-8 [SID1234622297]).

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In order to participate in the conference call, please register using the conference link here. The live webcast can be accessed under "Events & Presentations" in the Investors section of the Company’s website at www.fatetherapeutics.com. The archived webcast will be available on the Company’s website beginning approximately two hours after the event.

Exact Sciences Expands Leadership in Colorectal Cancer Screening with New Data Presented at the American College of Gastroenterology 2022 Annual Meeting

On October 24, 2022 Exact Sciences Corp. (NASDAQ: EXAS), a leading provider of cancer screening and diagnostic tests, reported the company will present new data supporting the positive impact of Cologuard as a colorectal cancer screening tool during the American College of Gastroenterology (ACG) Annual Meeting, being held October 21-26, 2022 (Press release, Exact Sciences, OCT 24, 2022, View Source [SID1234622296]). For the first time, data from Exact Sciences will detail the positive impacts on patients when costs associated with follow-up colonoscopy are eliminated after a positive stool-based test. New data will also provide details on the value of Cologuard in detecting serrated polyps, and the importance of reconsidering the definition of false positive outcomes from stool tests in CRC screening.

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"Data from Exact Sciences at ACG demonstrate the positive impact removing obstacles to colorectal cancer screening can have on clinical and economic outcomes associated with this highly preventable form of cancer," said Paul Limburg, MD MPH, AGAF, chief medical officer, Screening, Exact Sciences. "These results provide key information to help screen more people for colorectal cancer and support the use of Cologuard as an FDA-approved, non-invasive screening option that is included in U.S. Preventive Services Task Force guidelines."

ACG has accepted the following four abstracts for presentation at the 2022 Annual Meeting:

Lifetime Impact of the Change in Modality as a Result of Eliminating Cost-sharing for Follow-up Colonoscopy After a Positive Stool Test for Colorectal Cancer Screening
Presenter: A. Burak Ozbay, PhD, Exact Sciences
Session: Sunday, October 23, 2022; 5:00 PM – 7:00 PM ET
Abstract Number: #A0179

Key results: In Oregon, a policy that eliminated patient cost-sharing for follow-up colonoscopy significantly increased the uptake of colorectal cancer screening and shifted screening modalities from colonoscopy to non-invasive methods. The clinical and economic effects of these outcomes were estimated in a cohort of average-risk individuals, newly eligible for colorectal cancer screening. With a 10 percent shift from colonoscopy to stool-based testing and modest 5 percent uptake in total screening, life years gained increased by at least 5 percent while more than 1,200 cases and 900 deaths were averted per 1 million individuals at a lower cost.

Serrated Polyps in Patients with Positive FIT or Mt-sDNA, or Colonoscopy Only: Data from the New Hampshire Colonoscopy Registry
Presenter: Dr. Joseph Anderson, MD, MHCDS, FACG, Dartmouth College
Session: Sunday, October 23, 2022; 5:00 PM – 7:00 PM ET
Abstract Number: #A0168

Key results: Serrated polyps progress to colorectal cancer through methylation and may account for up to 30 percent of all colorectal cancers. In this registry study, patients screened with Cologuard had a higher yield of serrated polyps found during colonoscopy than those screened with a FIT test or colonoscopy alone. When stratified by large adenomas, 18 percent of the Cologuard-positive patients had clinically relevant serrated polyps compared to 10 percent for FIT and 8 percent for colonoscopy patients. A regression model showed that the Cologuard-positive patients were nearly 3 times as likely to have clinically relevant serrated polyps than colonoscopy patients.

What Do ‘False-Positive’ Stool Tests Really Mean? Data from the New Hampshire Colonoscopy Registry
Presenter: Joseph Anderson, MD, MHCDS, FACG, Dartmouth College
Session: Sunday, October 23, 2022; 5:00 PM – 7:00 PM ET
Abstract number: #A0169

Key results: Using a definition of positive colonoscopy that includes significant precancerous findings demonstrated a substantial decrease in false discovery rates and a corresponding increase in positive predictive value. Using the strictest definition of positive colonoscopy (only including advanced adenomas and cancer) compared to the least strict (including serrated adenomas and certain hyperplastic polyps), the percent of positive Cologuard tests with a negative follow-up colonoscopy decreased from 72 percent to 32 percent and the positive predictive value increased from 28 percent to 68 percent.

Algorithm Training and Independent Test Set Performance for a Molecular Non-Endoscopic Test for Detection of Esophageal Adenocarcinoma and Barrett’s Esophagus in Multicenter Cohorts
Presenter: Prasad G. Iyer, MD, FACG, Mayo Clinic
Session: Tuesday, October 25, 2022; 3:00 PM – 5:00 PM ET
Abstract number: #E0195

Key results: An assay using three methylated DNA markers and one reference marker demonstrated overall sensitivity for Barrett’s esophagus and esophageal adenocarcinoma of 81% at 90% specificity in the training set and 88% sensitivity at 84% specificity in the test set.

As part of Exact Sciences’ ongoing efforts to advance scientific understanding in colorectal cancer screening, the company is also pleased to announce the publication of a manuscript titled "Patterns of initial colorectal cancer screenings after turning 50 years old and follow-up rates of colonoscopy after positive stool-based testing among the average-risk population" in Current Medical Research & Opinion. The study found potential for improving colorectal cancer screening among the eligible average-risk population, both to start screening once they reach the screening-eligible age, and to complete the screening paradigm after a positive stool-based test.

Delcath Systems to Host Third Quarter 2022 Results

On October 24, 2022 Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, reported it will host a conference call on November 8, 2022, at 8:30 AM Eastern Time to discuss results for its third quarter ended September 30, 2022 (Press release, Delcath Systems, OCT 24, 2022, View Source [SID1234622294]).

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Chugai Announces 2022 3rd Quarter Results

On October 24, 2022 Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519) reportes its financial results for the third quarter of fiscal year 2022 (Press release, Chugai, OCT 24, 2022, View Source [SID1234622293]).

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"Chugai achieved record-high revenues and profits for the first nine months of 2022 following the strong first half of the year. Domestic sales were driven by growing market penetration of new products including Vabysmo, the new ophthalmic drug launched in May 2022, while Hemlibra continued to increase overseas sales. Research and Development also progressed well in the third quarter, particularly for in-house projects which are expected to propel our medium- to long-term growth. The world’s first filing for regulatory approval of our anti-C5 recycling antibody, crovalimab, was accepted in China. In addition, clinical development was initiated for DONQ52, a new bispecific antibody. We will continue to focus all our efforts on innovation to address unmet medical needs so that we can contribute to patients waiting for new treatments," said Dr. Osamu Okuda, Chugai’s President and CEO.

Third Quarter Financial Results (Core results, January to September 2022)
Chugai reported record-high financial results for the first nine months in 2022, as revenues increased by 7.7% and operating profit increased by 2.9% over the same period last year.

An increase in domestic and overseas sales outweighed a decrease in royalties and other operating income, resulting in a 7.7% increase in total revenues. Domestic sales increased by 6.9%. Sales in the Oncology field decreased by 2.4% as the impact of the NHI drug price revision and biosimilars in mature products, including Avastin and Herceptin, exceeded the sales growth from a new product Polivy, which was approved for an additional indication in August this year, and a mainstay product Kadcyla as well as Foundation Medicine business. In the Specialty field, renamed from the Primary field following the organizational change in July, sales increased by 17.1% due to the contributions from the supply of Ronapreve to the government in the first quarter, as well as an approximately 20% increase in sales of the mainstay product Hemlibra. Steady market penetration of new products, including Vabysmo launched in May, also contributed. The increase in overseas sales was driven by a 2-times increase of Hemlibra owing to the full-scale export to Roche at regular shipping price and a more than 20% increase in Actemra, which obtained emergency use authorization and regulatory approval for severe COVID-19 in the U.S. and Europe, respectively, since last June. On the other hand, royalties and other operating income decreased by approximately 40%, mainly due to a significant decrease in royalty income related to the initial shipments of Hemlibra.

Cost to sales ratio improved by 1.2 percentage points year-on-year to 40.7%, mainly due to a change in the product mix. Operating expenses grew by 4.3% as both marketing and distribution and research and development expenses increased, while general and administration expenses decreased. Marketing and distribution expenses increased mainly due to foreign exchange effects. Research and development expenses increased mainly due to the progress of projects under development and foreign exchange effects. General and administration expenses decreased primarily due to decreases in various expenses, as well as recognizing gains on sales of property, plant and equipment. As a result, Core operating profit totaled ¥299.0 billion (+2.9%).

Quarterly Financial Results (Core results, July to September 2022)
Revenues and operating profit for the third quarter (Jul-Sep) both decreased by approximately 20% against the same period last year. The leading cause of the decreases were that the supply of Ronapreve to the government, which was ¥42.8 billion yen in the same period last year, did not occur in the quarter under review, along with the significant decrease in royalty income related to the initial shipments of Hemlibra. Sales decreased by approximately 20%. While overseas sales increased by 3.7%, domestic sales decreased by less than 30% with the impact of Ronapreve, resulting in a decrease in overall sales. In domestic sales, the Oncology field reported a 5.1% decrease as mature products such as sales of Avastin and Herceptin decreased due to the NHI drug price revision and biosimilar impact, despite increases in a new product Polivy and a mainstay product Kadcyla. Sales of the Specialty field decreased by more than 40%, primarily for the supply of Ronapreve to the government last year. Excluding Ronapreve, sales of the Specialty field increased by 1.4%, driven by the contribution from new products including Vabysmo, which was launched in May this year. Overseas sales increased by 3.7% as the increase of Hemlibra owing to the full-scale export to Roche at regular shipping price outweighed a more than 30% decrease in sales of Actemra caused by a delay in production. In addition, we launched Edirol in China in July. Royalties and other operating income decreased by less than 40% chiefly due to the significant decrease in royalty income related to the initial shipments of Hemlibra. The cost to sales ratio improved by approximately eight percentage points against the same period last year, mainly due to a higher proportion of in-house products in total sales. Operating expenses were flat against the same period last year. No changes have been made in the full-year forecasts announced at the beginning of the fiscal year, while revenues and operating profit both decreased for the quarter under review.

R&D activities
The Company also made good progress in research and development. Among in-house projects, which will contribute to the Company’s medium-to long-term growth, Maruho launched the anti-IL-31 receptor antibody Mitchga in August as a treatment for itching associated with atopic dermatitis. Maruho is the licensee of the product in Japan. The world’s first filing of regulatory application for the anti-C5 recycling antibody, crovalimab, was accepted in China with a priority review designation for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). Clinical development of an existing product Enspryng has started for new indications, myelin oligodendrocyte glycoprotein antibody-associated disease (MOGAD) and autoimmune encephalitis (AIE). In addition, clinical development of a new bispecific antibody project, DONQ52, has been initiated for celiac disease, a disease with no approved drug treatments available. Furthermore, Chugai entered into an agreement with Roche to out-license NXT007, which is being developed as the next-generation project following Hemlibra.
As for in-licensed products from Roche, an additional indication for Polivy was approved as the first new treatment in 20 years for previously untreated diffuse large B-cell lymphoma. Chugai also filed an application for approval of RG6264, a fixed-dose subcutaneous combination of pertuzumab and trastuzumab, for the treatment of HER2-positive breast and colorectal cancer. Pertuzumab and trastuzumab are the same monoclonal antibodies as in Perjeta and Herceptin, respectively. Several new oncology projects have been added to our pipeline, including SHP2 inhibitor RG6433 and KRAS G12C inhibitor RG6330 for solid tumors.
In drug discovery research, Chugai entered into a license agreement with Noile-Immune Biotech in August for their PRIME CAR-T technology, making steady progress in its efforts toward multi-modality drug discovery through external collaboration.