Jounce Therapeutics earns clinical milestone payment under the CCR8 exclusive license agreement with Gilead Sciences, Inc.

On November 2, 2022 Jounce Therapeutics, Inc. (NASDAQ: JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, reported earning a $15.0 million clinical milestone payment from Gilead Sciences, Inc. (NASDAQ: GILD) under the exclusive license agreement for GS-1811, an anti-CCR8 antibody for which Gilead has exclusive rights to develop and commercialize (Press release, Jounce Therapeutics, NOV 2, 2022, View Source [SID1234622775]). GS-1811 (formerly JTX-1811) is designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells in the tumor microenvironment.

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Under the terms of the September 2020 agreement, Gilead invested $35.0 million in Jounce’s common stock and made an $85.0 million upfront payment to Jounce. Jounce led the development of JTX-1811 through IND clearance, after which Gilead obtained the sole right to develop and commercialize the program. After receiving this $15.0 million milestone payment, Jounce may receive up to an additional $645.0 million in future clinical, regulatory and commercial milestone payments and will also be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales. Any milestone or royalty paid to Jounce is subject to certain reductions as described in the license agreement.

BeiGene Receives European Commission Approval for BRUKINSA® (zanubrutinib) for the Treatment of Adults with Marginal Zone Lymphoma

On November 2, 2022 BeiGene (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global biotechnology company, reported that the European Commission (EC) has granted marketing authorization of BRUKINSA (zanubrutinib) for the treatment of adult patients with relapsed/refractory (R/R) marginal zone lymphoma (MZL) who have received at least one prior anti-CD20-based therapy (Press release, BeiGene, NOV 2, 2022, View Source [SID1234622774]). The approval is applicable to all 27 member states of the European Union (EU), plus Iceland and Norway. BeiGene is focused on developing innovative and affordable oncology medicines to improve treatment outcomes and access for patients worldwide.

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Notably, the EC granted an additional year of marketing protection because the data submitted for the therapeutic indication demonstrated a significant clinical benefit for BRUKINSA in comparison with existing therapies.

"We are proud of what this approval means for European MZL patients, who previously did not have an approved BTK inhibitor as a treatment option for this rare hematological malignancy," said Mehrdad Mobasher, M.D., M.P.H., Chief Medical Officer, Hematology at BeiGene. "This milestone builds on the track record we’ve built with BRUKINSA to date, with approvals in more than 55 countries and regions, as we continue to fulfill our commitment to build a transformational global R&D model that enables broader, faster access to novel medicines."

The EC approval follows a positive opinion granted in September by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) based on results from the multicenter, global, single-arm, open-label, Phase 2 MAGNOLIA trial in patients with R/R MZL who received at least one anti-CD-20 based regimen. In the trial, BRUKINSA achieved a high overall response rate of 68% with 26% of patients achieving complete remission, as assessed by an Independent Review Committee (IRC). Responses were observed in all patients regardless of MZL subtypes. BRUKINSA also delivered rapid and durable disease control with a median time to response of 2.8 months.i

BRUKINSA was generally well-tolerated and safety in MZL was consistent with its established profile. The most common grade ≥3 adverse events (>5%) included neutropenia (23%), pneumonia (11%), thrombocytopenia (8%) and anemia (8%). There were low rates of discontinuation due to adverse events at 3.5%, highlighting that BRUKINSA continued to be well-tolerated.ii

"This milestone marks the first and only approved BTK inhibitor for marginal zone lymphoma in Europe," comments Pier Luigi Zinzani, MD., PhD., Full Professor of Haematology at the Institute of Haematology "Seràgnoli", University of Bologna, Italy. "As there is no current standard of care in Europe, the approval of BRUKINSA provides a chemotherapy-free treatment option for people with MZL that has shown meaningful efficacy with durable and high response rates across MZL subtypes."

Gerwin Winter, Senior Vice President, Head of Europe at BeiGene, notes, "We are excited to bring the first and only BTKi approved for MZL to patients in Europe and look forward to continuing to work with our growing and dedicated teams to make our medicine accessible to patients who need them across Europe."

BRUKINSA is also approved in the EU for the treatment of adult patients with Waldenström’s macroglobulinemia (WM) who have received at least one prior therapy or for the first-line treatment of patients unsuitable for chemo-immunotherapy, and last month, CHMP issued a positive opinion recommending approval of BRUKINSA for the treatment of adult patients with chronic lymphocytic leukemia (CLL).

BeiGene has obtained reimbursement for BRUKINSA for the treatment of WM in Austria, Belgium, Denmark, England and Wales, Germany, Italy, Iceland, Ireland, The Netherlands, Spain, and Switzerland, while additional countries across Europe are currently going through the reimbursement process.

About Marginal Zone Lymphoma
MZL is a group of ultra-rare, slow growing B-cell malignancies that begin in the marginal zones of lymph tissue.iii Epidemiological data from Europe is limited, but the incidence rate of MZL is estimated to range between 20 and 30 per million per year.iv,v,vi There are three different subtypes of MZL: extranodal marginal zone B-cell lymphoma, or mucosa-associated lymphoid tissue (MALT), which is most common; nodal marginal zone B-cell lymphoma which develops in the lymph nodes and is rare; and splenic marginal zone B-cell lymphoma which develops in the spleen, bone marrow, or both, and is the rarest form of the disease.vii

About BRUKINSA
BRUKINSA is a small molecule inhibitor of Bruton’s tyrosine kinase (BTK) discovered by BeiGene scientists that is currently being evaluated globally in a broad clinical program as a monotherapy and in combination with other therapies to treat various B-cell malignancies. BRUKINSA was specifically designed to deliver targeted and sustained inhibition of the BTK protein by optimizing bioavailability, half-life, and selectivity. With differentiated pharmacokinetics compared to other approved BTK inhibitors, BRUKINSA has been demonstrated to inhibit the proliferation of malignant B cells within a number of disease relevant tissues.

BRUKINSA is supported by a broad clinical program which includes more than 4,500 subjects in 35 trials across 28 markets. To date, BRUKINSA has received approvals covering more 55 countries and regions, including the United States, China, the EU, Great Britain, Switzerland, Canada, Australia, and additional international markets.

BeiGene Oncology
BeiGene is committed to advancing best- and first-in-class clinical candidates internally or with like-minded partners to develop impactful and affordable medicines for patients across the globe. We have a growing R & D and medical affairs team of approximately 3,300 colleagues dedicated to advancing more than 100 clinical trials that have involved more than 16,000 subjects. Our expansive portfolio is directed predominantly by our internal colleagues supporting clinical trials in more than 45 countries and regions. Hematology-oncology and solid tumor targeted therapies and immuno-oncology are key focus areas for the Company, with both mono- and combination therapies prioritized in our research and development. BeiGene currently has three approved medicines discovered and developed in our own labs: BTK inhibitor BRUKINSA in the U.S., China, the European Union, Great Britain, Switzerland, Canada, Australia, and additional international markets; and the non-FC-gamma receptor binding anti-PD-1 antibody, tislelizumab, as well as the PARP inhibitor, pamiparib, in China.

BeiGene also partners with innovative companies who share our goal of developing therapies to address global health needs. We commercialize a range of oncology medicines in China licensed from Amgen, Bristol Myers Squibb, EUSA Pharma and Bio-Thera. We also plan to address greater areas of unmet need globally through our other collaborations including with Mirati Therapeutics, Seagen, and Zymeworks.

In January 2021, BeiGene and Novartis announced a collaboration granting Novartis rights to co-develop, manufacture, and commercialize BeiGene’s anti-PD1 antibody, tislelizumab, in North America, Europe, and Japan. Building upon this productive collaboration, BeiGene and Novartis announced an option, collaboration, and license agreement in December 2021 for BeiGene’s TIGIT inhibitor, ociperlimab, that is in Phase 3 development. Novartis and BeiGene also entered into a strategic commercial agreement through which BeiGene will promote five approved Novartis Oncology products across designated regions of China.

Sensei Biotherapeutics to Participate in the 13th Annual Jefferies Global Healthcare Conference

On November 2, 2022 Sensei Biotherapeutics, Inc. (NASDAQ: SNSE), an immuno-oncology company focused on the discovery and development of next generation therapeutics for cancer, reported that John Celebi, President and Chief Executive Officer, will present at the 13th Annual Jefferies Global Healthcare Conference, being held in London, United Kingdom, on Thursday, November 17, 2022, at 7:25 a.m. GMT (Press release, Sensei Biotherapeutics, NOV 2, 2022, View Source [SID1234622773]).

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A webcast of Sensei’s presentation will be available in the Investors section of the Sensei website. A replay of the webcast will be on the website for approximately 90 days following the event. Registration for the live webcast is available here.

Alkermes plc Reports Third Quarter 2022 Financial Results

On November 2, 2022 Alkermes plc (Nasdaq: ALKS) reported financial results for the third quarter of 2022 and updated certain financial expectations for full-year 2022 (Press release, Alkermes, NOV 2, 2022, View Source [SID1234622772]). Alkermes today also announced its intent, as approved by its Board of Directors (the Board), to explore a separation of its commercial-stage neuroscience business and development-stage oncology business.

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"One year into the launch of LYBALVI, we have gained confidence in its commercial potential and the opportunity it represents to be an important, long-term value driver for Alkermes. Our teams have made excellent progress in raising awareness of LYBALVI, establishing and expanding the foundation of prescribers, and driving patient access to this important new medicine," said Richard Pops, Chief Executive Officer of Alkermes. "We are proving the value of our distinctive commercial capabilities with the growth of our three proprietary products in complex and dynamic markets. At the same time, we’ve progressed our oncology portfolio with nemvaleukin in potential registration-enabling studies and our pipeline of preclinical engineered cytokines advancing behind it. As the value propositions for each of our neuroscience and oncology businesses have come more clearly into focus, separating the oncology business represents an important opportunity to unlock value for each business and position both for success."

"Our third quarter results demonstrate strong year-over-year growth of our proprietary commercial product portfolio and our continued focus on operational efficiency. The addition of LYBALVI to our portfolio of proprietary commercial products has highlighted the operating leverage we have built into the business and the growth potential it represents," commented Iain Brown, Chief Financial Officer of Alkermes. "As we approach the end of the year, we are pleased to raise certain of our financial expectations for 2022, primarily reflecting the strong performance of LYBALVI. We remain in a strong financial position to advance our strategic priorities with a focus on execution and driving shareholder value as we work to separate our neuroscience and oncology businesses."

Quarter Ended Sept. 30, 2022 Financial Results

Revenues

– Total revenues for the quarter were $252.4 million, compared to $294.1 million for the same period in the prior year.

– Net sales of proprietary products for the quarter were $199.4 million, compared to $157.7 million for the same period in the prior year.

Net sales of VIVITROL were $96.5 million, compared to $88.8 million for the same period in the prior year, representing an increase of approximately 9%.
Net sales of ARISTADAi were $75.7 million, compared to $68.9 million for the same period in the prior year, representing an increase of approximately 10%.
Net sales of LYBALVI were $27.1 million, following its commercial launch in October 2021.
– Manufacturing and royalty revenues for the quarter were $52.9 million, primarily driven by royalty revenues from long-acting INVEGA products and VUMERITY, partially offset by a one-time revenue reversal related to AMPYRA. Manufacturing and royalty revenues were $136.3 million for the same period in the prior year.

Royalty revenues from INVEGA SUSTENNA/XEPLION, INVEGA TRINZA/TREVICTA and INVEGA HAFYERA/BYANNLI (the long-acting INVEGA products) were $26.7 million, compared to $79.3 million for the same period in the prior year. This decrease was driven primarily by Janssen Pharmaceutica N.V.’s partial termination of the license agreement related to sales of the long-acting INVEGA products in the United States (U.S.), effective Feb. 2, 2022.
Manufacturing and royalty revenues from VUMERITY were $26.3 million, compared to $26.7 million for the same period in the prior year.
The company recorded a one-time reversal of royalty revenue of approximately $21.5 million in the quarter due to the outcome of recent arbitration proceedings related to agreements pertaining to AMPYRA, which includes a $16.5 million arbitration award and other royalty revenue that was previously recognized.
Costs and Expenses

– Total operating expenses for the quarter were $313.0 million, compared to $313.8 million for the same period in the prior year.

Cost of Goods Manufactured and Sold was $50.6 million, compared to $49.6 million for the same period in the prior year.
Research and Development (R&D) expenses were $100.4 million, compared to $118.4 million for the same period in the prior year. R&D expenses for the third quarter of 2021 included the accrual of a $25.0 million development milestone payment.
Selling, General and Administrative (SG&A) expenses were $152.8 million, compared to $136.2 million for the same period in the prior year, reflecting increased investment in the launch of LYBALVI.
Profitability

– Net loss according to generally accepted accounting principles in the U.S. (GAAP) was $64.0 million for the quarter, or a basic and diluted GAAP loss per share of $0.39. This compared to GAAP net loss of $29.0 million, or a basic and diluted GAAP loss per share of $0.18, for the same period in the prior year.

– Non-GAAP net income was $3.5 million for the quarter, or a non-GAAP basic and diluted earnings per share of $0.02. This compared to non-GAAP net income of $23.6 million for the quarter, or a non-GAAP basic earnings per share of $0.15 and non-GAAP diluted earnings per share of $0.14, for the same period in the prior year.

Balance Sheet

– At Sept. 30, 2022, the company recorded cash, cash equivalents and total investments of $747.1 million, compared to $760.0 million at June 30, 2022. The company’s total debt outstanding as of Sept. 30, 2022 was $293.9 million.

Financial Expectations for 2022

The following updated financial expectations for 2022 primarily reflect LYBALVI’s launch performance to date, the company’s current assumption that it will continue to receive royalty payments related to sales of the long-acting INVEGA products outside the U.S. through the end of the year and the impact of the AMPYRA royalty revenue reversal. All line items are according to GAAP, except as otherwise noted.

Recent Events:

Psychiatry

In September 2022, the company presented clinical, epidemiology and health economics and outcomes research related to its psychiatry portfolio at Psych Congress 2022.
Corporate

In November 2022, the company announced approval by the Board to explore a separation of its commercial-stage neuroscience business and development-stage oncology business. The company, together with the Board and external financial and legal advisors, plans to explore a separation of the oncology business into an independent, publicly-traded company as part of an ongoing review of strategic alternatives for the oncology business. The separation, if consummated, is expected to be completed in the second half of 2023.
In September 2022, the company published its latest Corporate Responsibility Report, which details how the company integrates environmental, social and governance considerations into its business. A copy of the report is available on the Responsibility section of Alkermes’ website.
Conference Call

Alkermes will host a conference call and webcast presentation with accompanying slides at 8:00 a.m. ET (12:00 p.m. GMT) on Wednesday, Nov. 2, 2022, to discuss these financial results and provide an update on the company. The webcast may be accessed on the Investors section of Alkermes’ website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. In addition, a replay of the conference call may be accessed by visiting Alkermes’ website.

HOOKIPA to Participate in the Sidoti Micro-Cap Virtual Conference

On November 2, 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 the Sidoti Micro-Cap Virtual Conference, November 9 – 10, 2022 (Press release, Hookipa Biotech, NOV 2, 2022, View Source [SID1234622771]).

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Corporate Presentation: Thursday, November 10, 2022 at 12:15 PM EST

The webcast of the presentation will be available within the Investors & Media section of HOOKIPA’s website at View Source An archived replay will be accessible for 30 days following the event.