On April 21, 2023 Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, reported that it will present data from two studies highlighting the performance of its blood-based screening technology to detect early-stage colorectal cancer (CRC), including the acceptance of the ECLIPSE study as a late-breaking abstract, at Digestive Disease Week (DDW) taking place in Chicago, Illinois on May 6-9, 2023 (Press release, Guardant Health, APR 21, 2023, https://investors.guardanthealth.com/press-releases/press-releases/2023/Guardant-Health-announces-new-data-to-be-presented-at-2023-Digestive-Disease-Week-showcasing-the-potential-of-its-blood-based-technology-to-detect-colorectal-cancer/default.aspx [SID1234630383]).

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"Despite multiple screening modalities for colorectal cancer, screening rates remain stubbornly low leaving many cancers undetected. A blood test that can accurately detect CRC represents a significant opportunity to overcome some of the known challenges with patient adherence," said AmirAli Talasaz, Guardant Health co-CEO. "We are thrilled that DDW has accepted the ECLIPSE study, one of the largest studies of its kind, as a late-breaking abstract, and we look forward to sharing this new data with the healthcare community at this year’s meeting."

"The need for a convenient, less invasive way to screen for CRC is great, and an accurate blood test can play a critical role in improving screening rates, especially for those reluctant to get screened," said Daniel Chung, MD, gastroenterologist at Massachusetts General Hospital and Professor of Medicine at Harvard Medical School. "I look forward to presenting at DDW and sharing new data from the ECLIPSE Study on the performance and potential of the Shield blood test to help improve adherence to screening."

The ECLIPSE Study late-breaking abstract and one additional abstract highlighting the potential of Guardant Health’s blood-based screening technology are now available online through the DDW meeting planner. The presentation on Tuesday, May 9 will include further data and trial design analysis beyond what is included in the online abstract. Details of the presentations are as follows:

Abstract

Session

Title

Tuesday, May 9 | 9:00-9:15am CT

#3910067

DDW Clinical Late Breaking Session #5095

Clinical Validation of a Cell-Free DNA Blood-Based Test for Colorectal Cancer in an Average Risk Population

Presenter: Daniel Chung, MD, gastroenterologist at Massachusetts General Hospital and professor of medicine at Harvard Medical School

Tuesday, May 9 | 12:30-1:30pm CT

#Tu1132

Poster Session #9050

Assessment of an Early Version Blood Based Multimodal cfDNA Assay for the Detection of Colorectal Cancer Incorporating the Assessment of ctDNA Genomic Alterations and Epigenomic Modifications

On April 21, 2023 Amgen (NASDAQ:AMGN) reported that it will present its first quarter financial results on Thursday, April 27, 2023, after the close of the U.S. financial markets (Press release, Amgen, APR 21, 2023, View Source [SID1234630380]). The announcement will be followed by a conference call with the investment community at 1:30 p.m. PT. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen’s senior management team.

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Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public.

The webcast, as with other selected presentations regarding developments in Amgen’s business given by management at certain investor and medical conferences, can be found on Amgen’s website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen’s Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.

On April 21, 2023 Genmab A/S (Nasdaq: GMAB) reported an award in the second arbitration arising under its license agreement with Janssen Biotech, Inc. (Janssen) for daratumumab (Press release, Genmab, APR 21, 2023, View Source [SID1234630349]). The arbitral tribunal dismissed Genmab’s claims, on the basis that they should have been brought in the first arbitration. One of the three arbitrators dissented. Genmab has the right to seek review of the award, which it must do within a limited period of time. Genmab is currently considering its options.

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Genmab’s dismissed claims were a claim for milestone payments with respect to the subcutaneous formulation of daratumumab ("SC daratumumab," marketed as DARZALEX FASPRO in the United States) and a claim for a new 13-year royalty term, on a country-by-country basis, from the date of the first commercial sale of SC daratumumab in each such country.

In accordance with the license agreement, the arbitration was conducted before a tribunal of three arbitrators under the rules of the CPR Institute for Dispute Resolution for Non-Administered Arbitration. Genmab has the right to seek review of the award, before a single "appeal arbitrator," which it must do within a limited period of time. The award has no effect on Genmab’s financial guidance and the milestone payments are not included in our current financial guidance published on February 22, 2023.

This arbitration remains confidential, subject to the parties’ disclosure obligations under applicable law. Other than pursuant to these obligations, Genmab does not intend to comment further or to provide additional information regarding the arbitration. Genmab’s various collaborations with Janssen will continue.

On April 20, 2023 Sirona Biochem Corp. (TSX-V: SBM) (Frankfurt: ZSB) (Xetra: ZSB) (the "Company") reported that it has closed an oversubscribed, non-brokered convertible debenture for gross proceeds of $1,563,600 (Press release, Sirona Biochem, APR 20, 2023, View Source [SID1234630387]). The private placement consists of 1,563 Debenture units, (the "Debenture Units") at a price of $1,000 per Debenture Unit.

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Dr. Howard Verrico, CEO, subscribed to $500,000 of Debenture Units. Dr. Verrico’s participation is a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The Company relied on the exemptions from the formal valuation and minority shareholder-approval requirements of MI 61-101 in respect of related party participation in the Offering. The MI 61-101 exemptions are available as the fair market value of the Debenture Units, and the fair market value of the consideration for the Debenture Units, insofar as it involves Dr. Verrico and other interested parties, did not exceed 25% of the Company’s market capitalization.

"Although we are in a challenging market, I am confident the value of our platform technology will be recognized as we advance our diverse pipeline. It is my intention to support Sirona, as needed, both financially and by working with our team to make Sirona a commercial success. We appreciate the contribution of the long-term shareholders in this financing who share my vision", reports Dr. Howard Verrico.

Approximately 1/3 of the net proceeds from the Offering will be used for general corporate purposes, and the remainder of the proceeds will used for research and development expenses (including but not limited to, laboratory staff salaries, laboratory materials and intellectual property costs).

Each Debenture Unit has a face value of (the "Face Value") of $1,120, consisting of $1,000 in principal (the "Principal") and $120 in prepaid interest (the "Prepaid Interest"). The Principal of the Debenture Units will accrue interest at a rate of 12% per annum, which accrued interest ("Accrued Interest") will be paid semi-annually, in arrears. The Company will pay the Prepaid Interest and Accrued Interest in cash or, subject to TSX Venture Exchange ("TSXV") acceptance, may elect to satisfy payment in kind by issuing Shares ("Interest Shares"). In the event of payment in kind, the number of Interest Shares due will be calculated using a conversion price (the "Interest Conversion Price") equal to, subject to acceptance by the TSXV, the maximum Discounted Market Price (as defined in TSXV policies) on the applicable payment due date.

The holder may, at its option, convert in full or in part, the Principal at any time prior to April 20, 2026 (the "Maturity Date") into units (the "Units") of the Company at $0.10 per Unit (the "Conversion Price"). Upon conversion of the Principal, the Company will pay Prepaid Interest and unpaid Accrued Interest in cash or, subject to acceptance by the TSXV, in Interest Shares issued at the Interest Conversion Price.

Each Unit consists of one Share and one non-transferable share purchase warrant (a "Warrant"). Each Warrant is exercisable by the holder thereof to purchase one Share (a "Warrant Share") at an exercise price of $0.15 at any time prior to the Maturity Date.

The Company shall have the right to redeem the Convertible Debentures prior to the Maturity Date at any time after 6 months from the issue date, by paying holders in cash the Face Value of the Convertible Debentures, together with all Prepaid and Accrued Interest and a redemption penalty payment of 8% of the Face Value. The Company shall give the holders 30 business days’ notice (the "Redemption Notice") to do so. On receipt of a Redemption Notice, a holder may elect to convert all or part of the Principal of the Convertible Debenture into Units at the Conversion Price. All Prepaid and Accrued Interest in respect of the Principal amount so converted shall be, at the election of the holder, either paid in cash or, subject to acceptance by the TSXV, converted into Shares at the Interest Conversion Price, by giving the Company notice (the "Conversion Notice") within 10 business days of receipt of the Redemption Notice.

The Company compensated finder, PI Financial Corp. (the "Finder"), by way of cash fees of $12,500 and 125,000 warrants (the "Finder’s Warrants"). Each Finder’s Warrant entitles the
Finder to acquire common shares of the Company (each, a "Finder’s Warrant Share") at $0.15 per Finder’s Warrant Share for a period of 36 months from the date of issuance.

As previously disclosed in July 2021, Avalo Therapeutics, Inc. (the "Company"), entered into a Controlled Equity Offering Sales Agreement (the "Sales Agreement") with Cantor Fitzgerald & Co. ("Cantor") and RBC Capital Markets, LLC ("RBC", and collectively with Cantor, the "Sales Agents"), as sales agents, pursuant to which the Company may offer and sell, from time to time through the Sales Agents, shares of the Company’s common stock, par value $0.001 per share, having an aggregate offering price of up to $50.0 million (Filing, 8-K, Avalo Therapeutics, APR 20, 2023, View Source [SID1234630381]).

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On April 20, 2023, the Company delivered written notice to Cantor and RBC to terminate the Sales Agreement, effective no later than April 30, 2023, pursuant to Section 12(b) of the Sales Agreement. The Company is not subject to any termination penalties related to the termination of the Sales Agreement.

The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which was filed as Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 2, 2021 and incorporated herein by reference.