On July 26, 2022 Sutro Biopharma, Inc. ("Sutro" or the "Company") (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), reported that the first patient has been dosed in a Phase 1 study of an investigational candidate resulting from the collaboration between Sutro and Merck, known as MSD outside the United States and Canada, for the development of a novel cytokine derivative therapeutic for the treatment of cancer (Press release, Sutro Biopharma, JUL 26, 2022, View Source [SID1234616952]). As a result of this milestone, Sutro will receive a $10 million payment from Merck.

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"We are pleased with the progress of this next-generation biologic candidate, from discovery to clinical development for patients with advanced or metastatic solid tumors," said Bill Newell, Chief Executive Officer of Sutro. "This milestone reflects the strong synergistic collaboration between Merck’s biological expertise in the field of immuno-oncology and Sutro’s prowess in designing, engineering, and manufacturing complex biologics that incorporate site-specific conjugation. We are excited about the potential this therapeutic may have for cancer patients."

Under the terms of the July 2018 collaboration agreement between Sutro and Merck, Sutro has been primarily responsible for preclinical research and development, as well as manufacturing, of cytokine derivatives utilizing Sutro’s proprietary cell-free protein synthesis and site-specific conjugation platforms, XpressCF and Xpress CF+. Merck has exclusive worldwide rights to therapeutic candidates derived from the collaboration.

On July 26, 2022 Scandion Oncology (Scandion), a biotech company developing first-in-class medicines aimed at treating cancer which is resistant to current treatment options, reported that it has carried out a rights issue of approximately SEK 75 million (the "Rights Issue") (Press release, Scandion Oncology, JUL 26, 2022, View Source,c3605679 [SID1234616951]). Today, on July 26, 2022, the share capital increase and updated articles of association have been registered with the Danish Business Authority (Erhvervsstyrelsen).

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The last day of trading in paid subscribed shares (BTAs) is July 29, 2022. BTAs will be converted to shares on August 4, 2022. The new shares are expected to be booked into the respective custodian/VP account on August 4, 2022.

As a result of the Rights Issue and the registration of the new shares with the Danish Business Authority, the Company’s share capital has been increased by nominally DKK 629,999.9580 to a total of nominally DKK 2,991,962.4420. The number of shares and voting rights in the Company has increased by 8,571,428 shares to a total of 40,706,972 shares all with voting rights and with a nominal value of DKK 0.0735 each.

The updated articles of association of the Company are available on the Company’s website, View Source

Advisers

Redeye AB acts as financial adviser and Horten Advokatpartnerselskab (as to Danish law) and Advokatfirman Schjødt (as to Swedish law) act as legal advisers in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB acts as the issuing agent in the Rights Issue.

On July 26, 2022 Rubius Therapeutics, Inc. (Nasdaq: RUBY), a clinical-stage biopharmaceutical company that is biologically engineering red blood cells to create an entirely new class of cellular medicines called Red Cell Therapeutics for the treatment of cancer and autoimmune diseases, reported plans to report second quarter financial results on Tuesday, August 9, 2022, before market open (Press release, Rubius Therapeutics, JUL 26, 2022, View Source [SID1234616950]).

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The company will not be hosting a teleconference in conjunction with its financial results press release.

On July 26, 2022 Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) reported that it will report its second quarter 2022 financial results after market close on Tuesday, August 2, 2022 (Press release, Rigel, JUL 26, 2022, View Source [SID1234616949]). Rigel senior management will follow the announcement with a live conference call and webcast at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the financial results and give an update on the business.

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Participants can access the live conference call by dialing 877-407-3088 (domestic) or 201-389-0927 (international). The conference call and accompanying slides will also be webcast live and can be accessed from the Investor Relations section of the company’s website at www.rigel.com. The webcast will be archived and available for replay for 90 days after the call via the Rigel website.

On July 26, 2022 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported that results for the second quarter of 2022 and increased the outlook for full-year 2022 (Press release, Qiagen, JUL 26, 2022, View Source [SID1234616948]).

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Net sales for Q2 2022 declined 9% (-4% at constant exchange rates, CER) to $516 million from Q2 2021. Sales at CER were $544 million, ahead of the outlook for at least $510 million CER. Sales were driven by 10% CER growth in the non-COVID-19 product portfolio to $423 million, but sales of COVID-19 products fell 39% CER to $92 million. Adjusted diluted earnings per share (EPS) were $0.51 ($0.53 CER) compared to $0.67 in Q2 2021, and ahead of the outlook for at least $0.46 CER.

Based on the strong performance in the first half of the year, QIAGEN has raised its full-year 2022 net sales outlook of at least $2.2 billion CER (prior outlook for at least $2.12 billion CER) and for adjusted diluted EPS of at least $2.30 CER (prior outlook for at least $2.14 CER). This update includes a reaffirmation of the goal for double-digit CER sales growth from the non-COVID product groups, which grew 12% CER in the first half of 2022, but for a decline in COVID-19 sales amid volatile pandemic trends. It also reflects a review of macro-economic trends, including inflation and energy supplies.

"QIAGEN continues to deliver in 2022, led by double-digit CER sales growth from our non-COVID product portfolio in the first half of the year as we steadily execute on our goals. These solid results give us renewed confidence to increase our full-year outlook for 2022 and position QIAGEN for solid growth beyond the COVID-19 pandemic," said Thierry Bernard, Chief Executive Officer of QIAGEN N.V. "We are addressing the challenges of the macro-environment with actions that include securing supply chains and energy needs. We are accelerating our focused strategy to enhance our balanced portfolio serving Life Science and Molecular Diagnostics customers worldwide, investing into our Five Pillars of Growth and remaining ready to support COVID-19 testing needs as they develop."

Roland Sackers, Chief Financial Officer of QIAGEN N.V., said: "Our results for the first half of 2022 in our non-COVID business are another confirmation of how QIAGEN is moving ahead from a position of strength to create and sustain our growth opportunities. In light of the strong operating cash flow, we are accelerating investments into our portfolio, especially R&D initiatives to expand the test menu on key automation systems. The acquisition of BLIRT S.A. is a reaffirmation of our disciplined capital deployment strategy as we seek various ways to create greater value for shareholders and our other stakeholders."

Please find a PDF of the full press release incl. tables here.

Investor presentation and conference call

A conference call is planned for Thursday, July 28, at 15:30 Frankfurt Time / 14:30 London Time / 9:30 New York Time. A live audio webcast will be made available in the investor relations section of the QIAGEN website, and a replay will also be made available after the event. A presentation is planned to be available shortly before the conference call at View Source