On May 5, 2023 Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, reported the pricing of its public offering of 6,538,500 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 6,538,500 shares of common stock at a combined public offering price of $1.30 per share and accompanying warrant for aggregate gross proceeds of approximately $8.5 million, before deducting placement agent fees and other offering expenses (Press release, Soligenix, MAY 5, 2023, View Source [SID1234631100]). The warrants will have an exercise price of $1.50 per share, will be exercisable immediately and will expire five years from the issuance date.

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The closing of the offering is expected to occur on or about May 9, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the proceeds to fund its research and development and commercialization activities and for general corporate and working capital purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-271049) previously filed with the Securities and Exchange Commission (SEC) which became effective on May 5, 2023. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained on the SEC’s website located at View Source Electronic copies of the final prospectus relating to the offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

On May 5, 2023 ORIC Pharmaceuticals, Inc. (Nasdaq:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, reported that on May 1, 2023 (the "Grant Date"), ORIC granted a total of 29,800 non-qualified stock options and 4,980 restricted stock units to two new non-executive employees who began their employment with ORIC in April 2023 (Press release, ORIC Pharmaceuticals, MAY 5, 2023, View Source [SID1234631099]).

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These inducement grants were granted pursuant to the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan, subject to recipient’s continued employment or service through each applicable vesting date. The stock options have an exercise price equal to the closing price of ORIC’s common stock on the Grant Date. Twenty-five percent (25%) of the shares subject to the stock options will vest on the one (1) year anniversary of the Grant Date, with one thirty-sixth (1/36th) of the remaining shares vesting each one-month period thereafter. One-third (1/3rd) of the restricted stock units will vest on each of the first three anniversaries of the Grant Date. The inducement grants are subject to the terms and conditions of the applicable stock option and restricted stock unit agreements and the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan.

The inducement grants were approved by ORIC’s Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).

On May 5, 2023 NANOBIOTIX (Euronext: NANO –– NASDAQ: NBTX – the ‘‘Company’’), reported that the Company is entering into final contract negotiations after agreement to a non-binding term sheet for development and commercialization of lead nanotherapeutic candidate NBTXR3 with a major global pharmaceutical company, following an extensive negotiation period (Press release, Nanobiotix, MAY 5, 2023, View Source [SID1234631098]).

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The arrangement is subject to, among other matters, negotiation and execution of a definitive agreement and each party’s requisite internal corporate approvals with respect to the definitive terms.

The Company does not intend to make additional statements regarding negotiations unless and until it is appropriate to do so, or a final definitive agreement has been signed.

About NBTXR3

NBTXR3 is a novel, potentially first-in-class oncology product composed of functionalized hafnium oxide nanoparticles that is administered via one-time intratumoral injection and activated by radiotherapy. The product candidate’s physical mechanism of action (MoA) is designed to induce significant tumor cell death in the injected tumor when activated by radiotherapy, subsequently triggering adaptive immune response and long-term anti-cancer memory. Given the physical MoA, Nanobiotix believes that NBTXR3 could be scalable across any solid tumor that can be treated with radiotherapy and across any therapeutic combination, particularly immune checkpoint inhibitors.

NBTXR3 is being evaluated in locally advanced head and neck squamous cell carcinoma (HNSCC) as the primary development pathway. The company-sponsored Phase 1 dose escalation and dose expansion study has produced favorable safety data and early signs of efficacy; and a Phase 3 global registrational study was launched in 2021. In February 2020, the United States Food and Drug Administration granted regulatory Fast Track designation for the investigation of NBTXR3 activated by radiation therapy, with or without cetuximab, for the treatment of patients with locally advanced HNSCC who are not eligible for platinum-based chemotherapy—the same population being evaluated in the Phase 3 study.

Nanobiotix has also prioritized an Immuno-Oncology development program—beginning with a Company-sponsored Phase 1 clinical study evaluating NBTXR3 activated by radiotherapy in combination with anti-PD-1 checkpoint inhibitors for patients with locoregional recurrent or recurrent/metastatic HNSCC, or lung or liver metastases from any primary cancer eligible for anti-PD-1 therapy.

Given the Company’s focus areas, and balanced against the scalable potential of NBTXR3, Nanobiotix has engaged in a strategic collaboration strategy with world class partners to expand development of the product candidate in parallel with its priority development pathways. Pursuant to this strategy, in 2019 Nanobiotix entered into a broad, comprehensive clinical research collaboration with The University of Texas MD Anderson Cancer Center to sponsor several Phase 1 and Phase 2 studies to evaluate NBTXR3 across tumor types and therapeutic combinations.

On May 5, 2023 Lipocine presented its corporate presentation (Presentation, Lipocine, MAY 5, 2023, View Source [SID1234631097]).

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On May 5, 2023 Immunome, Inc. (Nasdaq: IMNM), a biopharmaceutical company that utilizes its human memory B cell platform to discover and develop first-in-class antibody therapeutics to improve patient care, reported financial results for the first quarter ended March 31, 2023 and provided a corporate update (Press release, Immunome, MAY 5, 2023, View Source [SID1234631096]).

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"The external validation of our Discovery Engine through our collaboration with AbbVie underlines the need for disruptive technologies that can shape the progress of cancer research. To that end, we are proud to further highlight the formation of Immunome’s Antibody-Drug Conjugate and T Cell Redirection Advisory Board that will help us prioritize selection of novel targets for ADCs and TCRs," stated Purnanand Sarma, Ph.D., President and CEO of Immunome. "The validation we have received so far makes us truly excited about the potential of our Discovery Engine, and we continue to leverage this within our existing oncology pipeline and in existing and potential future strategic collaborations."

Highlights

· AbbVie and Immunome Announced Strategic Collaboration to Discover Multiple Novel Oncology Targets. In January 2023, Immunome entered into a strategic collaboration and option agreement with AbbVie for the discovery of up to 10 novel antibody-target pairs arising from three specified tumor types derived from Immunome’s Discovery Engine. Payment structure includes $30 million upfront, $70 million in platform milestones with low single digit millions per targets in potential options payments. In addition, Immunome is eligible to receive $120 million per target in development and first commercial sale milestone, $150 million per target in sales-based milestones and tiered royalties on global sales.

· Immunome Announced Formation of Antibody-Drug Conjugate and T Cell Redirection Advisory Board. In February, 2023, Immunome established an advisory board, comprised of Dr. John Lambert and Dr. Anthony Tolcher, to prioritize selection of novel targets for antibody drug conjugates (ADCs) and T cell redirection (TCR) modalities.

· Immunome Presented at the 13th Annual World ADC London Conference. In March 2023, Immunome participated in World ADC London, Europe’s longest standing and definitive antibody-drug conjugate (ADC) event dedicated to maximizing the therapeutic window of ADCs. Matthew Robinson, Ph.D., Chief Technology Officer of Immunome discussed how Immunome’s Discovery Engine can highlight novel target classes which have relevance for multiple therapeutic modalities, including ADCs.

Financial Highlights

· Collaboration Revenue: Collaboration Revenue from the Collaboration Agreement with AbbVie for the three months ended March 31, 2023 was $2.4 million.

· Research and development (R&D) expenses: R&D expenses for the three months ended March 31, 2023 were $3.9 million.

· General and administrative (G&A) expenses: G&A expenses, net of interest income, for the three months ended March 31, 2023 were $2.8 million.

· Net loss: Net loss for the three months ended March 31, 2023 was $4.3 million.

· Cash and cash equivalents: As of March 31, 2023, cash and cash equivalents totaled $44.4 million.