Achilles Therapeutics Reports Third Quarter 2023 Financial Results and Recent Highlights

On November 13, 2023 Achilles Therapeutics plc (NASDAQ: ACHL), a clinical-stage biopharmaceutical company developing AI-powered precision T cell therapies targeting clonal neoantigens to treat solid tumors, reported its financial results for the quarter ended September 30, 2023, and recent business highlights (Press release, Achilles Therapeutics, NOV 13, 2023, View Source [SID1234637525]).

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"We are pleased with progress across the scientific field that continues to demonstrate the importance of neoantigens as the most attractive targets in solid-tumor oncology. We believe that our proprietary capability to identify the most immunogenic clonal neoantigens, recently shared at ESGCT and SITC (Free SITC Whitepaper), puts us in a strong position with our clonal neoantigen-reactive T cell (cNeT) therapy and potentially other neoantigen targeting approaches," said Dr Iraj Ali, Chief Executive Officer of Achilles Therapeutics. "Our Phase I/IIa clinical trials evaluating cNeT therapy for the treatment of advanced NSCLC (CHIRON) and metastatic malignant melanoma (THETIS) continue to progress and we are on track to dose patients in line with our previous guidance. We look forward to sharing our next clinical and translational data update in Q1 2024."

Recent Highlights


Presented posters (Abstract 437, Abstract 1312) at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 38th Annual Meeting highlighting a significant dose boost of reactive CD8 and CD4 cNeT from the optimized VELOSTM manufacturing platform and the use of the PELEUS AI-powered bioinformatics platform for the identification and validation of immunogenic clonal tumor neoantigens.

Presented posters (P459, P485, P507) at the European Society of Gene & Cell Therapy (ESGCT) 30th Annual Congress highlighting the favorable cNeT phenotypic properties and polyfunctionality critical for precision adoptive cell therapies and the expansion of cNeT from the blood of patients with cancer.

Delivered an oral presentation at the mRNA Cancer Vaccines Summit highlighting neoRanker, a new AI-based tool for the selection of immunogenic clonal tumor neoantigens for personalized therapies.

Delivered oral presentations at the 5th Annual TIL Therapies Summit highlighting optimized manufacturing of AI-powered precision TIL therapies for solid cancer, and the potency and fitness of cNeT.

Presented posters (P319, P407, P518) at the Seventh International Cancer Immunotherapy Conference (CIMT) (Free CIMT Whitepaper) (CICON23) highlighting a precision adoptive cell therapy process based on expansion of cNeT from blood of cancer patients.

Financial Highlights


Cash and cash equivalents: Cash and cash equivalents were $140.1 million as of September 30, 2023, as compared to $173.3 million as of December 31, 2022. The Company anticipates that its cash and cash equivalents are sufficient to fund its planned operations through 2025.

Research and development (R&D) expenses: R&D expenses were $14.7 million for the third quarter ended September 30, 2023, an increase of $4.1 million compared to $10.6 million for the third quarter ended September 30, 2022. The increase was primarily driven by increased activity related to our ongoing clinical trials and overall R&D.

General and administrative (G&A) expenses: G&A expenses were $4.4 million for the third quarter ended September 30, 2023, a decrease of $1.0 million compared to $5.4 million for the third quarter ended September 30, 2022. This decrease was primarily driven by lower professional fees, personnel costs and facilities spend.

Net loss: Net loss for the third quarter ended September 30, 2023, was $16.7 million or $0.42 per share compared to $12.5 million or $0.32 per share for the third quarter ended September 30, 2022.

Abeona Therapeutics Reports Third Quarter 2023 Financial Results and Corporate Developments

On November 13, 2023 Abeona Therapeutics Inc. (Nasdaq: ABEO) reported its financial results for the third quarter of 2023 and provided corporate updates (Press release, Abeona Therapeutics, NOV 13, 2023, View Source [SID1234637524]).

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"In the third quarter, we made substantial progress in our evolution from a late-stage clinical development company to one with significant commercial opportunity," said Vish Seshadri, Chief Executive Officer of Abeona. "With the completion of Abeona’s first-ever U.S. BLA submission, we moved a step closer toward the potential approval of pz-cel as the first therapy that delivered instantaneous wound coverage and multi-year healing in RDEB wounds with a one-time application in clinical trials. In addition, we are also establishing Abeona’s capabilities in late-stage development and manufacturing of autologous engineered cell therapies. Lastly, we have initiated commercial readiness activities for our potential launch of pz-cel."

Third Quarter and Recent Progress

Pz-cel for RDEB

● The proposed non-proprietary (generic) name prademagene zamikeracel (referred to as "pz-cel" going forward) was approved by the World Health Organization as the International Nonproprietary Name for Abeona’s investigational autologous, COL7A1 gene-corrected epidermal sheets formerly known as EB-101.
● In August, Abeona completed a positive pre-BLA meeting in which it reached alignment with the U.S. Food and Drug Administration (FDA) that the pz-cel clinical efficacy and safety data appear adequate to support a BLA submission. The FDA also agreed that retroviral vector manufactured at Abeona and Indiana University appear comparable based on the data that Abeona provided in its briefing book.
● In September, Abeona submitted a BLA to FDA seeking approval with priority review of pz-cel for RDEB. The FDA’s decision on BLA acceptance is typically made during the 60-day window following submission. If accepted with Priority Review, Abeona expects potential BLA approval in the second quarter of 2024.

Strengthened balance sheet, initiated U.S. commercial launch preparations for pz-cel

● Abeona raised $25 million in a registered direct offering priced at-the-market with select existing institutional investors to primarily fund the Company’s initial commercial preparations in support of the potential U.S. launch of pz-cel.
● Appointed Madhav Vasanthavada, Ph.D., M.B.A. as Chief Commercial Officer and Head of Business Development. Dr. Vasanthavada brings over 20 years of diverse leadership experience in the life sciences industry with recent experience in launching autologous cell therapies at Bristol Myers Squibb (BMS) and Celgene.
● Started U.S. commercial launch planning activities for pz-cel, including initiating onboarding discussions with EB treatment sites, payer engagement, and hiring key commercial roles.

Third Quarter Financial Results

Cash, cash equivalents, restricted cash and short-term investments totaled $54.1 million as of September 30, 2023, including the net proceeds from the $25 million registered direct offering in July 2023, as compared to $37.1 million as of June 30, 2023. Abeona estimates that its cash and cash equivalents, restricted cash and short-term investments as of September 30, 2023 are sufficient resources to fund operations into the fourth quarter of 2024.

Research and development expenses for the three months ended September 30, 2023 were $7.1 million, compared to $5.5 million for the same period of 2022. General and administrative expenses were $4.2 million for the three months ended September 30, 2023, compared to $3.9 million for the same period of 2022. Net loss attributable to common shareholders was $11.8 million for the third quarter of 2023, or $0.48 loss per common share as compared to a net loss attributable to common shareholders of $6.4 million, or $1.00 loss per common share, in the third quarter of 2022.

Conference Call Details

Abeona Therapeutics will host a conference call and webcast today, November 13, 2023, at 8:30 a.m. ET, to discuss its financial results and developments. To access the call, dial 888-506-0062 (U.S. toll-free) or 973-528-0011 (international) and Entry Code: 963663 five minutes prior to the start of the call. A live, listen-only webcast and archived replay of the call can be accessed on the Investors & Media section of Abeona’s website at www.abeonatherapeutics.com. The archived webcast replay will be available for 30 days following the call.

IMBRUVICA™ (ibrutinib) Capsules Now Approved in the U.S. for Mantle Cell Lymphoma Patients Who Have Received at Least One Prior Therapy

On November 13, 2013 Janssen Biotech, Inc. ["Janssen"] reported the U.S. Food and Drug Administration (FDA) has approved IMBRUVICA (ibrutinib) capsules for the treatment of patients with mantle cell lymphoma (MCL) who have received at least one prior therapy (Press release, Johnson & Johnson, NOV 13, 2023, View Source [SID1234634975]). This indication is based on overall response rate (ORR). An improvement in survival or disease-related symptoms has not been established.

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IMBRUVICA is one of the first medications to receive FDA approval via the Breakthrough Therapy Designation pathway. Its approval comes just more than four months after the New Drug Application (NDA) submission was completed in late June 2013. IMBRUVICA is being jointly developed and commercialized by Janssen and Pharmacyclics, Inc.

"Mantle cell lymphoma is a rare, aggressive type of B-cell lymphoma," said Michael Wang, M.D., Department of Lymphoma/Myeloma, The University of Texas MD Anderson Cancer Center and lead investigator for the pivotal registration trial PCYC-1104. "With IMBRUVICA, we now have a once-daily oral therapy that has been shown to affect the disease. I’m proud to have been involved in this study."

MCL is an orphan disease. Orphan diseases are characterized by high unmet need and small patient populations affecting fewer than 200,000 people.[2] In the U.S., approximately 2,900 new cases of MCL are diagnosed each year[3] with a median age at diagnosis of 65.[4] MCL typically involves the lymph nodes, but can spread to other tissues, such as the bone marrow, liver, spleen and gastrointestinal tract.[5] This challenging disease is associated with poor prognoses.[5]

"The approval of IMBRUVICA is great news for MCL patients who have received prior therapy and the physicians who treat them," said William Hait, M.D., Ph.D. global head, research and development, Janssen Research & Development, LLC. "The Breakthrough Therapy Designation helped turbo-charge our timelines – it’s a remarkable process. It’s an excellent example of collaboration between the FDA, Janssen and Pharmacyclics."

"Breakthrough Therapy Designation is intended to speed up the development and review of treatments to help address serious or life-threatening diseases. It is gratifying to see this early example of the new Breakthrough Therapy Designation pathway meeting its intention – getting promising treatments to patients who are waiting for new options," said Dr. Ellen Sigal, chair and founder of Friends of Cancer Research, a think tank and advocacy organization based in Washington, DC.ɫ

IMBRUVICA was granted three Breakthrough Therapy Designations by the FDA, including relapsed or refractory MCL. IMBRUVICA was approved under the FDA’s Subpart H regulation.[6] Janssen and Pharmacyclics are continuing an extensive clinical development program for IMBRUVICA, including Phase 3 study commitments in this patient population. Additionally, IMBRUVICA has been submitted to the FDA for the treatment of previously treated patients with chronic lymphocytic leukemia (CLL)/small lymphocytic lymphoma (SLL).

IMBRUVICA works by blocking a specific protein called Bruton’s tyrosine kinase (BTK). [1] Non-clinical studies have shown that blocking BTK inhibits malignant B-cell survival.[1]

The safety and efficacy of IMBRUVICA in patients with MCL who have received at least one prior therapy were evaluated in an open-label, multi-center, single-arm Phase 2 study of 111 treated patients. The primary endpoint was investigator-assessed overall response rate (ORR). Based on investigator assessment, the ORR was 65.8 percent (95% CI 56.2, 74.5%) and the median duration of response was 17.5 months (95% CI 15.8, not reached).[1] This endpoint was based on responses assessed according to the revised International Working Group (IWG) for non-Hodgkin’s lymphoma (NHL) criteria.[1]

The Warnings and Precautions for IMBRUVICA include hemorrhage, infections, myelosuppression, renal toxicity, second primary malignancies and embryo-fetal toxicity.

The most commonly occurring side effects (adverse reactions in 20 percent or more of patients in the clinical trial) were thrombocytopenia*, diarrhea (51%), neutropenia*, anemia*, fatigue (41%), musculoskeletal pain (37%), peripheral edema (swelling of hands and feet, 35%), upper respiratory tract infection (34%), nausea (31%), bruising (30%), dyspnea (shortness of breath, 27%), constipation (25%), rash (25%), abdominal (stomach) pain (24%), vomiting (23%) and decreased appetite (21%). [*NOTE: Treatment-emergent decreases (all grades) of platelets (57%), neutrophils (47%) and hemoglobin (41%) were based on laboratory measurements and adverse reactions.]

The most common Grade 3 or 4 non-hematological adverse reactions (≥ 5%) were: pneumonia (7%), abdominal pain (5%), atrial fibrillation, diarrhea (5%), fatigue (5%), and skin infections (5%). Treatment-emergent Grade 3 or 4 cytopenias were reported in 41% of patients. Ten patients (9%) discontinued treatment due to adverse reactions in the trial (N=111).

The most frequent adverse reaction leading to treatment discontinuation was subdural hematoma (1.8%). Adverse reactions leading to dose reduction occurred in 14% of patients.

The recommended dose of IMBRUVICA is 560 mg (four 140 mg capsules) once daily.[1]

The IMBRUVICA MCL study was published online in The New England Journal of Medicine in June 2013.[7]

Access to IMBRUVICA
IMBRUVICA is commercially available immediately. Janssen Biotech is striving to make the process of obtaining IMBRUVICA and navigating insurance benefits easy for patients by offering comprehensive access services and support for eligible patients. The YOU&i Access program is designed specifically for patients who are prescribed IMBRUVICA and provides personalized attention coupled with access services designed to make obtaining medication simple and convenient for patients and those involved in their care.

This includes a YOU&i Access Instant Savings program, which provides co-pay support and benefits information to eligible commercially-insured patients. Patients can access the program by contacting 1-877-877-3536, option 1 or by visiting www.IMBRUVICA.com.

IMPORTANT SAFETY INFORMATION

WARNINGS AND PRECAUTIONS

Hemorrhage – Five percent (5%) of patients with MCL had Grade 3 or higher bleeding events (subdural hematoma, gastrointestinal bleeding, and hematuria). Bleeding events including bruising of any grade occurred in 48% of patients with MCL treated with 560 mg daily. The mechanism for the bleeding events is not well understood. Consider the benefit-risk of ibrutinib in patients requiring antiplatelet or anticoagulant therapies and the benefit-risk of withholding ibrutinib for at least 3 to 7 days pre and post-surgery depending upon the type of surgery and the risk of bleeding.

Infections – Fatal and non-fatal infections have occurred. At least 25% of patients with MCL had infections ≥ Grade 3, according to NCI Common Terminology Criteria for Adverse Events (CTCAE). Monitor patients for fever and infections and evaluate promptly.

Myelosuppression – Treatment-emergent Grade 3 or 4 cytopenias were reported in 41% of patients. These included neutropenia (29%), thrombocytopenia (17%) and anemia (9%). Monitor complete blood counts monthly.

Renal Toxicity – Fatal and serious cases of renal failure have occurred. Treatment-emergent increases in creatinine levels up to 1.5 times the upper limit of normal occurred in 67% of patients and from 1.5 to 3 times the upper limit of normal in 9% of patients. Periodically monitor creatinine levels. Maintain hydration.

Second Primary Malignancies – Other malignancies (5%) have occurred in patients with MCL who have been treated with IMBRUVICA, including skin cancers (4%), and other carcinomas (1%).

Embryo-Fetal Toxicity – Based on findings in animals, IMBRUVICA can cause fetal harm when administered to a pregnant woman. Advise women to avoid becoming pregnant while taking IMBRUVICA. If this drug is used during pregnancy or if the patient becomes pregnant while taking this drug, the patient should be apprised of the potential hazard to a fetus.

Adverse Reactions – The most commonly occurring adverse reactions (≥ 20%) in the clinical trial were thrombocytopenia*, diarrhea (51%), neutropenia*, anemia*, fatigue (41%), musculoskeletal pain (37%), peripheral edema (35%), upper respiratory tract infection (34%), nausea (31%), bruising (30%), dyspnea (27%), constipation (25%), rash (25%), abdominal pain (24%), vomiting (23%) and decreased appetite (21%).

* Treatment-emergent decreases (all grades) of platelets (57%), neutrophils (47%) and hemoglobin (41%) were based on laboratory measurements and adverse reactions.

The most common Grade 3 or 4 non-hematological adverse reactions (≥ 5%) were: pneumonia (7%), abdominal pain (5%), atrial fibrillation, diarrhea (5%), fatigue (5%), and skin infections (5%). Treatment-emergent Grade 3 or 4 cytopenias were reported in 41% of patients. Ten patients (9%) discontinued treatment due to adverse reactions in the trial (N=111).

The most frequent adverse reaction leading to treatment discontinuation was subdural hematoma (1.8%). Adverse reactions leading to dose reduction occurred in 14% of patients.

Drug Interactions: CYP3A Inhibitors – Avoid concomitant administration with strong or moderate inhibitors of CYP3A. If a moderate CYP3A inhibitor must be used, reduce the IMBRUVICA dose.

CYP3A Inducers – Avoid co-administration with strong CYP3A inducers.

Special Populations – Hepatic Impairment – Avoid use in patients with baseline hepatic impairment.

For the full prescribing information, visit View Source

About IMBRUVICA
IMBRUVICA is indicated for the treatment of patients with mantle cell lymphoma (MCL) who have received at least one prior therapy.[1] This indication is based on overall response rate (ORR). An improvement in survival or disease-related symptoms has not been established.[1]

IMBRUVICA works by blocking a specific protein called Bruton’s tyrosine kinase (BTK).[1] BTK is a signaling molecule of the B-cell antigen receptor (BCR) pathway, which is emerging as a target in some B-cell malignancies.[8],[9],[10] BTK’s role in signaling through the B-cell surface receptors results in activation of pathways necessary for B cell trafficking, chemotaxis and adhesion.[1]

For more information, visit www.IMBRUVICA.com.

First Patient Dosed in Phase III ProstACT GLOBAL Study of Antibody-based Prostate Cancer Therapy Candidate, TLX591

On November 12, 2023 Telix Pharmaceuticals Limited (ASX: TLX, Telix, the Company) reported that the first patient has been dosed in the Company’s Phase III ProstACT GLOBAL study of its investigational prostate-specific membrane antigen (PSMA) targeting radio-antibody drug conjugate (rADC) therapy, TLX591 (177Lu-rosopatamab tetraxetan) (Press release, Telix Pharmaceuticals, NOV 12, 2023, View Source [SID1234637483]). TLX591 is a rADC composed of a high-specificity PSMA-targeting antibody, chelator linker, and cytotoxic lutetium (177Lu) payload. The PSMA-targeted monoclonal antibody (mAb) approach offers significantly different targeting and pharmacology to anti-PSMA small molecules.

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ProstACT GLOBAL (ClinicalTrials.gov ID: NCT04876651) is the first Phase III trial to evaluate TLX591 in adult patients with PSMA-positive metastatic castrate-resistant prostate cancer (mCRPC) administered together with Standard of Care (SoC, androgen receptor inhibition or taxanes) versus SoC alone. Integration with current real-world SoC differentiates ProstACT GLOBAL from other PSMA studies and reflects Telix’s continued innovation in prostate cancer care and commitment to patient outcomes.

To date, 242 patients have been treated across eight Phase I and II studies of TLX591, including Telix’s ProstACT SELECT study (ClinicalTrials.gov ID: NCT04786847), which confirmed the clinical validity of Telix’s optimal fractionated dosing and product safety profile. Prior published Phase II (single-arm) study data reported a 42.3 month overall survival (OS) and an acceptable safety profile when delivered under a fractionated dosing regimen administered concurrently with docetaxel chemotherapy.[1] Compared to other radioligand therapies, collective long-term follow-up of patients administered with TLX591 has not observed significant acute or delayed nephrotoxicity due to the hepatic clearance of the agent.[2]

Preliminary data from the recently completed ProstACT SELECT study[3] demonstrated high on-target PSMA tumour-binding and radiation delivery to bone, nodal, and visceral metastases while minimising uptake and toxicity concerns in kidney, salivary glands, and lacrimal glands. This differentiated biodistribution is significant when compared to small molecule diagnostic and therapeutic PSMA agents, as uptake may not be strictly limited to cancerous tissue. The SELECT results also confirm the clinical advantage of the short, simple treatment regimen of two doses administered 14 days apart, while demonstrating the longer retention, internalisation, and potential therapeutic benefits of the 177Lu-labelled PSMA-antibody targeting approach.[3]

ProstACT GLOBAL builds on the previous Phase I and II studies of TLX591, including ProstACT SELECT. It is a multinational, multicenter, prospective, randomised, controlled, open label Phase III study designed to investigate and confirm the patient benefits and risks associated with TLX591 administered together with SoC, compared to SoC alone. ProstACT GLOBAL has an overall target enrolment of ~400 patients, with the first dose successfully administered at GenesisCare’s centre at the St John of God Hospital Murdoch campus in Australia.[4]

The study is expected to expand internationally, subject to regulatory approvals, including in Europe and the United States where Telix’s investigational new drug (IND) application remains on track for filing with the US Food and Drug Administration (FDA) in Q4 2023. The planned US arm of the study will also incorporate a run-in to bridge manufacturing data to a new commercial-scale process. An interim analysis is expected after the first 120 patients.

Nat Lenzo, MD, GenesisCare Group Clinical Director Theranostics and Principal Investigator on the ProstACT GLOBAL study commented, "Recent studies, including ProstACT SELECT, have further advanced the development of this antibody-based PSMA therapy for prostate cancer patients. We have been encouraged with the safety profile, tolerability and early efficacy observed in our previous and ongoing studies, in particular for symptom control. It’s an important step forward for patients to see this investigational therapy enter a Phase III study."

Dr Colin Hayward, Group Chief Medical Officer of Telix said, "Dosing a first patient in the ProstACT GLOBAL study is a significant milestone for Telix and will help build on an already extensive data set for this product candidate. The current TLX591 experience underlines the potential benefits of an antibody-based approach in combination with real world standards of care, including physician choice of ARPI[5] or taxane. As we take this potential first-in-class rADC candidate into a large, mid-stage patient population for the first time, we would like to thank Professor Lenzo and his clinical team, as well as the patients who will contribute to the study."

Non-consolidated Financial Results for the Nine Months Ended September 30, 2023

On November 10, 2023 Oncolys BioPharma reported its Non-consolidated Financial Results for the Nine Months Ended September 30, 2023 (Press release, Oncolys BioPharma, NOV 10, 2023, View Source [SID1234639010]).

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