SELLAS Announces Confirmatory Top-Line Data Showing Survival and Clinical Benefits Based on the Final Analysis of the Phase 1/2 Clinical Trial of Galinpepimut-S in Combination with Keytruda® (pembrolizumab) in Patients with WT1+ Platinum-Resistant Advanced Ovarian Cancer

On November 10, 2022 SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) ("SELLAS" or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel therapies for a broad range of cancer indications, reported confirmatory top-line clinical data from the final analysis of results from its Phase 1/2 clinical trial of galinpepimut-S (GPS), the Company’s Wilms Tumor-1 (WT1)-targeting peptide immunotherapeutic, in combination with Merck’s anti-PD-1 therapy, pembrolizumab (KEYTRUDA), in patients diagnosed with WT1(+) relapsed or refractory platinum-resistant advanced metastatic ovarian cancer (Press release, Sellas Life Sciences, NOV 10, 2022, View Source [SID1234623666]).

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Data from 17 patients enrolled in the study, conducted under a Clinical Trial Collaboration and Supply Agreement with Merck & Co., Inc., Rahway, N.J., USA (known as MSD outside the United States and Canada), have undergone final analysis for safety and efficacy. All enrolled patients were resistant to standard of care platinum-based therapy and 76.5 percent (13/17) of the patients were refractory to or had failed their first- or second-line therapies, with 23.5 percent (4/17) having failed three or more lines of therapy, including one patient (5.9 percent) who failed five previous lines of therapy. Of the 17 patients, 16 received at least three doses of GPS and had follow-up cross-sectional imaging (CT/MRI) to determine tumor status.

Summary of Top-Line Overall Survival and Progression-Free Survival Data:

Median Overall Survival (OS) was 18.4 months compared to 13.8 months in a checkpoint inhibitor single agent study in a similar patient population treated with checkpoint inhibitor alone
Median Progression-Free Survival (PFS) was 12 weeks compared to eight weeks in a checkpoint inhibitor single agent study in a similar patient population treated with checkpoint inhibitor alone
The overall response rate (ORR) of the trial is 6.3 percent with a disease control rate (DCR), which is the sum of overall response rate and rate of stable disease, of 50.1 percent at a median follow-up of 14.4 months. In a checkpoint inhibitor single agent study in a similar platinum-resistant ovarian cancer patient population treated with a checkpoint inhibitor alone, the observed DCR was 37.2 percent, consistent with a DCR rate increase of approximately 45 percent in the GPS combination with Keytruda over that seen for checkpoint inhibitors alone.
Importantly, survival and disease control benefits were observed in patients harboring tumors with any level of detectable PD-L1 expression, i.e., those with Combined Positive Score (CPS) of one or higher. The DCR is 63.6 percent in patients with a CPS of one or higher in this study.

In the Phase 1/2 study, patients with a CPS score of less than one showed a median OS of 3.2 months vs. patients with a CPS greater than or equal to one who had a median OS of 18.4 months and, as it relates to time to progression, patients with a CPS score of less than one had a median PFS of 1.9 months and patients with a CPS score of greater than or equal than one showed a median PFS of 3.8 months.

In 16 evaluable patients in whom serial peripheral blood samples were available, a correlation was observed between PFS and OS and WT1-specific immune response after GPS vaccination across more than one channel with intracellular cytokine flow-cytometry assays in peripheral blood lymphocytes assaying reactivity against the four pooled WT1 antigens comprising GPS. The data were consistent with those seen in previous studies of GPS.

The safety profile of GPS in combination with pembrolizumab was similar to pembrolizumab alone, with the only addition of low-grade, rapidly resolving local reactions at the GPS injection site, consistent with observations from other GPS clinical studies.

"GPS has been primarily studied as maintenance therapy to provide an overall survival benefit after patients reach a state of minimal residual disease or complete remission. In contrast, in this very difficult to treat patient population with relapsed or refractory measurable advanced platinum-resistant ovarian cancer, who underwent intensive chemotherapy with no apparent enduring clinical benefit, the data suggests that the combination of GPS plus pembrolizumab may be effective in stabilizing active disease. We are excited that both the disease control rate and overall survival results support our belief that GPS has the potential to become an important therapeutic addition to a backbone of checkpoint blockade for WT1(+) ovarian cancer patients, as well as other WT1-expressing tumor types," said Angelos Stergiou, MD, ScD h.c., President and Chief Executive Officer of SELLAS. "SELLAS plans to submit the full dataset at a major medical conference by mid-next year. I would like to extend my sincere gratitude to all patients who have participated in this clinical trial, as well as the collective study teams at SELLAS and Merck," concluded Dr. Stergiou.

"What I find particularly important for patients with advanced platinum-resistant ovarian cancer is that GPS appears to enhance efficacy of checkpoint inhibitors in patients with tumors with detectable PD-L1 expression, whilst demonstrating a low adverse event burden. Until now, in immunotherapy-recalcitrant tumor types, like ovarian cancer, the impression by many experts has been that patients with CPS scores equal to or higher than 10 may be the most probable candidates to derive clinically meaningful benefit from checkpoint inhibitor therapy, either alone or in combination," stated Bruno Bastos, MD, Medical Oncologist and Study Investigator at the Miami Cancer Institute, Physician Lead of the Multiple Tumors/Phase 1 Clinic, and Assistant Professor at the Herbert Wertheim College of Medicine. "Based on these results, it appears that any ovarian cancer patient whose tumor expresses any level of PD-L1, as long as this biomarker is detected, may benefit from the addition of GPS to a checkpoint inhibitor regimen. If these data are confirmed in larger studies in PD-L1+, WT1+ advanced ovarian cancer, it could enable us to bring the benefits of immunotherapy drugs to a broader patient population in a very difficult setting. This is indeed exciting for the ovarian cancer field, as well as patients suffering from other types of WT1+ malignancies," concluded Dr. Bastos.

About Ovarian Cancer
Ovarian cancer is one of the most common gynecologic malignancies and the fifth most frequent cause of cancer death in women in the United States. Over 22,000 cases are diagnosed annually, and there are an estimated 15,500 deaths per year. The majority of patients have widespread disease at presentation. The 5-year survival for advanced-stage disease remains less than 30 percent. Combining GPS with the checkpoint inhibitor pembrolizumab, which beneficially and profoundly alters the tumor microenvironment (TME) is hypothesized to increase the proportion of patients who develop an immune response against their cancer and potentially improve their clinical outcome over checkpoint inhibitors monotherapy, without the burden of additional toxicities in macroscopically measurable malignancies.

Genmab to Present at Jefferies London Healthcare Conference

On November 10, 2022 Genmab A/S (Nasdaq: GMAB) reported that its Chief Executive Officer, Jan van de Winkel, Ph.D. and Chief Financial Officer, Anthony Pagano will take part in a fireside chat at the Jefferies London Healthcare Conference on November 17, 2022 (Press release, Genmab, NOV 10, 2022, View Source [SID1234623665]). A webcast of the event will be available on Genmab’s website from November 17, 2022, 1:20 PM CET / 7.20 AM EST at View Source

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IN8bio Reports Second Quarter 2022 Financial Results and Provides Corporate Update

On November 10, 2022 IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company discovering and developing innovative gamma-delta T cell therapies that utilize its DeltEx platform, reported financial results, corporate developments, and operational highlights for the third quarter ended September 30, 2022 (Press release, In8bio, NOV 10, 2022, View Source [SID1234623664]).

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"We achieved several important corporate goals during the third quarter that had been the focus of our team’s energy for much of 2022. Securing the partnership with the Dunbar CAR T-Cell Program at the University of Louisville provides us with access to a high-quality good manufacturing practice (GMP) facility and is a significant step towards advancing our INB-400 program into Phase 2 clinical trials. There has been significant industry interest in gamma-delta T cells in 2022, and the recruitment of Dr. LaMontagne, with his extensive experience in pharma and cellular therapy, marks the initiation of our business development activities. With the introduction of induced pluripotent stem cells (iPSCs) to our DeltEx platform, we possess a comprehensive suite of technologies and capabilities to target cancer with gamma-delta T cells," stated William Ho, CEO and co-founder of IN8bio. "We are excited about the consistency of the data we have been generating across our clinical pipeline and look forward to providing clinical updates at the ASH (Free ASH Whitepaper) Annual Meeting in December and early next year. Our team is focused on advancing innovative therapies for cancer and continuing to execute on key milestones in the months to come."

Business Highlights & Clinical Updates

Provided update from the ongoing Phase 1 clinical trial of INB-100 in patients with leukemia who are undergoing haploidentical stem cell transplantation. All three high-risk AML patients from the first cohort continued to demonstrate durable morphologic CR and remained progression-free and alive for more than one year. Two of the three patients remain in morphologic CR for more than two
years. The safety profile continues to be manageable with no dose-limiting toxicities (DLTs). IN8bio plans to present additional data for INB-100 at the upcoming 64th American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting to take place December 10-13 in New Orleans, Louisiana.

Raised $9.8 million of net proceeds in an underwritten offering of 5,663,686 shares of common stock to fund IN8bio’s clinical development program and general operating activities.

Strengthened management team with the addition of Kenneth R. LaMontagne, Ph.D., as Senior Vice President, Business Development.

Broadened intellectual property coverage for DeltEx platform with the issuance of a new European patent.

Expanded the intellectual property estate of the DeltEx platform with the issuance of a new patent in Europe covering any genetic modification conveying chemotherapy resistance to immune cell types, including gamma-delta T cells and natural killer (NK) cells.

Appointed Michael R. Bishop, M.D., Director, Hematopoietic Cellular Therapy Program, Director of the David and Etta Jonas Center for Cellular Therapy, and Professor of Medicine at the University of Chicago, to IN8bio’s Scientific Advisory Board. Dr. Bishop is globally recognized for his extensive research and expertise in the prevention and treatment of relapse of lymphomas following stem cell transplantation.

Announced a partnership with the Dunbar CAR T-Cell Program at the University of Louisville as the manufacturing center for INB-400.

The Company filed its IND for INB-400 in November 2022 and is actively identifying potential clinical sites to participate in the multi-center Phase 2 clinical trial, subject to receiving clearance from the FDA for the IND.

Third Quarter 2022 Financial Results

Cash position: As of September 30, 2022, the Company had cash of $27.6 million, compared to $37.0 million as of December 31, 2021. The decrease in cash was primarily due to cash used by the Company in R&D and continued operations to advance its programs along with ongoing construction of a state-of-the-art ~10,000 sq. ft. R&D facility in Birmingham, AL.

Research and Development (R&D) expenses: R&D expenses were $4.3 million for the three months ended September 30, 2022, compared to $1.4 million for the comparable prior year period. The increase in R&D expenses were primarily due to (i) contract research organization expenses related to INB-400, (ii) increased third-party clinical trial and IND-related activities, and (iii) increased personnel-related costs, including salaries, benefits, and stock-based compensation due to increased headcount.

General and administrative expenses: General and administrative expenses were $3.1 million for the three months ended September 30, 2022, compared to $2.0 million for the comparable prior year period. The increase was primarily due to increased personnel-related costs, including salaries, benefits, and stock-based compensation reflecting an increased headcount, expenses related to the Company’s follow-on underwritten public offering, insurance costs, and expenses associated with operating as a public company.
Net loss: The Company reported a net loss attributable to common stockholders of $7.4 million, or $0.34 per basic and diluted common share, for the three months ended September 30, 2022, compared to a net loss attributable to common stockholders of $3.4 million, or $0.25 per basic and diluted common share, for the comparable prior year period.

Aileron Therapeutics Announces a 1-for-20 Reverse Stock Split

On November 10, 2022 Aileron Therapeutics (Nasdaq: ALRN), a chemoprotection oncology company that aspires to make chemotherapy safer and thereby more effective to save more patients’ lives, reported that it will effect a 1-for-20 reverse stock split of its common stock. The reverse stock split will become effective at 5:00 p.m. ET today (Press release, Aileron Therapeutics, NOV 10, 2022, View Source [SID1234623663]). Aileron’s common stock will continue to be traded on the Nasdaq Capital Market under the symbol "ALRN" and will begin trading on a split-adjusted basis when the market opens on November 11, 2022.

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The reverse stock split, which was approved by Aileron’s stockholders on June 15, 2022, is intended to bring the company into compliance with Nasdaq’s minimum bid price requirement. The new CUSIP number for the company’s common stock following the reverse stock split will be 00887A 204.

At the effective time of the reverse stock split, every 20 shares of Aileron’s issued and outstanding common stock will be converted automatically into 1 issued and outstanding share of common stock without any change in the par value per share. This will reduce the company’s number of shares of common stock outstanding from approximately 90.8 million shares to approximately 4.5 million shares.

No fractional shares of common stock will be issued as a result of the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will receive a cash payment in lieu thereof. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in Aileron’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Proportional adjustments will be made to the number of shares of Aileron’s common stock issuable upon exercise of Aileron’s stock options and warrants, as well as the applicable exercise price.

Stockholders owning shares via a broker, bank, trust, or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to such broker’s particular processes, and will not be required to take any action in connection with the reverse stock split. Stockholders who hold shares in brokerage accounts should direct any questions concerning the reverse stock split to their broker; all other stockholders may direct questions to the company’s transfer agent, Computershare Trust Company, Inc., who is acting as exchange agent for the reverse stock split, at US: +1 800 962 4284 or International: +1 781 575 3120.

RAPT Therapeutics Reports Third Quarter 2022 Financial Results

On November 10, 2022 RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in inflammatory diseases and oncology, reported financial results for the quarter and nine months ended September 30, 2022 (Press release, RAPT Therapeutics, NOV 10, 2022, https://investors.rapt.com/news-releases/news-release-details/rapt-therapeutics-reports-third-quarter-2022-financial-results [SID1234623662]).

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"Our focus remains on executing and advancing both our inflammation and oncology programs. In our RPT193 program, we are actively enrolling our Phase 2b clinical trial in patients with moderate-to-severe atopic dermatitis, and we remain on track to initiate a Phase 2a clinical trial in asthma in the first quarter of next year," said Brian Wong, M.D., Ph.D., President and Chief Executive Officer of RAPT Therapeutics. "In our FLX475 program, we plan to provide an update on our Phase 1/2 trial at the upcoming European Society for Medical Oncology Immuno-Oncology Congress in Geneva. This presentation will include data from select ongoing cohorts, including a previously undisclosed cohort in checkpoint-naïve non-small cell lung cancer, which was opened based on supportive clinical and biomarker data from non-small cell lung cancer patients enrolled earlier in this study. Separately, we have made the decision not to move forward with development in nasopharyngeal cancer and checkpoint-naïve head and neck cancer."

Financial Results for the Third Quarter and Nine Months Ended September 30, 2022

Third Quarter Ended September 30, 2022

Net loss for the third quarter of 2022 was $21.2 million, compared to $18.7 million for the third quarter of 2021.

Research and development expenses for the third quarter of 2022 were $16.6 million, compared to $15.7 million for the same period in 2021. The increase in research and development expenses was primarily due to increases in expenses for early-stage programs, personnel and facilities, partially offset by decreases in development costs related to FLX475 and stock-based compensation expense.

General and administrative expenses for the third quarter of 2022 were $5.1 million, compared to $3.8 million for the same period in 2021. The increase in general and administrative expenses was primarily due to increases in expenses for professional services, personnel, stock-based compensation and facilities.

Nine Months Ended September 30, 2022

Net loss for the nine months ended September 30, 2022 was $60.9 million, compared to $51.3 million for the same period in 2021.

Research and development expenses for the nine months ended September 30, 2022 were $47.6 million, compared to $42.7 million for the same period in 2021. The increase in research and development expenses was primarily due to higher development costs related to RPT193 and increases in expenses for early-stage programs, personnel and facilities, partially offset by decreases in development costs related to FLX475 and stock-based compensation expense.

General and administrative expenses for the nine months ended September 30, 2022 were $15.3 million, compared to $11.5 million for the same period of 2021. The increase in general and administrative expenses was primarily due to increases in expenses for professional services, personnel, stock-based compensation and facilities.

As of September 30, 2022, the Company had cash, cash equivalents and marketable securities of $195.4 million.