Clarity bolsters antibody pre-targeting with IP from leading global cancer center

On August 7, 2023 Clarity Pharmaceuticals (ASX: CU6) ("Clarity", "the Company"), a clinical stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, reported an exclusive license from Memorial Sloan Kettering Cancer Center (MSK) (Press release, Clarity Pharmaceuticals, AUG 6, 2023, View Source [SID1234633834]). The license is to intellectual property that covers cutting-edge technology that enables antibody "pre-targeting" for the diagnosis and treatment of cancer.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Pre-targeting is a radiopharmaceutical approach to diagnosing and treating cancer patients that harnesses the benefits of antibody targeting, amplifying uptake of radiopharmaceutical products in cancerous tissue, while reducing healthy tissue exposure to radiation that can arise due to the slow clearance of antibodies. This is achieved by tagging an antibody, designed specifically to target cancer cells, and then injecting it into the body. After several days, a chaser compound, which only attaches to the antibody tag, is injected. The chaser compound is initially radiolabelled with copper-64 to enable imaging with a Positron Emission Tomography (PET) camera which visualises the extent of cancer burden. Once the cancer is visualised, a second administration of the chaser is administered, this time radiolabelled with the therapeutic radionuclide copper-67, so that the cancer cells can be irradiated with the goal of killing the tumours.

The ability of the chaser compound to attach to the tag on the antibody occurs due to a "click chemistry" reaction. This chemistry is so groundbreaking, it was awarded a Nobel Prize in Chemistry to scientists Carolyn R. Bertozzi, Morten Meldal and K. Barry Sharpless in 2022 for Click Chemistry and Bioorthogonal Chemistry.

This technology, developed at MSK by Jason Lewis, PhD and Dr Brian Zeglis (formerly MSK, currently Hunter College, NY USA), has been licensed to Clarity under a worldwide exclusive license. Key publications on the pre-targeting research include PNAS1 and NEJM2. This IP complements a growing number of patent applications in Clarity’s portfolio covering various aspects of antibody pre-targeting: International Application No.PCT/AU2019/050322 (assigned to Clarity from the University of Melbourne); International Application No.PCT/AU2019/050324; and Australian Provisional Patent Application No. 2022903384.

A clinical trial using the MSK licensed technology is open for recruitment in patients with pancreatic cancer at MSK headed by Dr Pandit-Taskar (NCT05737615)3. The trial is titled: "PET Imaging Using 64Cu-Tz-SarAr and hu5B1-TCO in People With Pancreatic Cancer". It is a first-in-human diagnostic trial, utilising copper-64 and a sarcophagine chelator, core to Clarity’s SAR Technology. The antibody (hu5B1-TCO) being used targets pancreatic cancer.

Clarity’s Executive Chairman, Dr Alan Taylor, commented, "Pre-targeting presents an exciting and groundbreaking avenue to pursue our mission to develop next-generation products that improve treatment outcomes for children and adults with cancer. Pre-targeting holds promise of overcoming the safety issues of antibody-based radiopharmaceuticals, opening up a massive opportunity to use the large cache of antibodies developed over the last 20 years and applying it in the theranostic setting. Combining this approach with the "perfect pairing" of copper-64 and copper-67 represents an untapped opportunity to deliver significant payloads to cancers in a safer and more effective way as we start to turn the tide on our war with cancer.
"Pre-targeting using copper-64 in MSK’s first-in-human trial is in alignment with Clarity’s clinical and commercial development of the SAR Technology to make a pipeline of theranostic products. The trial will validate the technique, and, if positive, will pave the way for a whole new area of development, not only for Clarity, but the entire field of antibody-based therapy. We have valued our engagement with MSK on many fronts over the years and we look forward to progressing the development of MSK’s pre-targeting technology, potentially providing a new path for the accurate and precise detection and treatment of various cancers."

Dr Jason Lewis, Emily Tow Chair in Oncology and Vice Chair for Research, Department of Radiology at MSK, commented, "We have been conducting research on pre-targeting for many years now and are very excited with the impending first-in-human clinical trial by our team here at MSK. Pre-targeting is a promising method of treatment for cancer patients and the continued exploration and validation of the benefits associated with it in a clinical setting is the next stage for this field. To have Clarity involved now on the clinical and commercial development of a product is excellent and is a continuation of their support and input on the preclinical research to date. Although pre-targeting has been in humans in the past, using various techniques, the field is still in its infancy. The theranostic approach in pre-targeting with the next generation of isotopes, such as copper-64 and copper-67, provides a renewed interest in the field, with a focus on both diagnosis and therapy. This technique has the ability to widen the whole field of nuclear medicine and utilise a large array of existing knowledge on antibody therapies."

Non-consolidated Financial Results for the Six Months Ended June 30, 2023

On August 4, 2023 Oncolys BioPharma reported its Non-consolidated Financial Results for the Six Months Ended June 30, 2023 (Press release, Oncolys BioPharma, AUG 4, 2023, View Source [SID1234634882]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!


Entry Into a Material Definitive Agreement

On August 4, 2023, iBio, Inc. (the "Company") reported to have agreed to amend the exercise price with certain holders of the Series A Warrants and Series B Warrants that were acquired from the Company in the underwritten public offering that was completed in December 2022 (Filing, 8-K, iBioPharma, AUG 4, 2023, View Source [SID1234633874]). Under the amended warrants, the Company agreed to amend existing Series A warrants to purchase up to 3,475,916 shares of common stock and existing Series B warrants to purchase up to 2,058,000 shares of common stock that were previously issued in December 2022 to the certain investors in the public offering, with exercise prices of $1.04 per share (the "Existing Warrants"), to lower the exercise price of the Existing Warrants to $0.50 per share.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!


INOVIO Reports Inducement Grants Under Inducement Plan

On August 4, 2023 INOVIO (NASDAQ:INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-associated diseases, cancer, and infectious diseases, reported that it has made equity grants to two newly hired employees under its 2022 Inducement Plan (the "Inducement Plan") (Press release, Inovio, AUG 4, 2023, View Source [SID1234633835]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Compensation Committee of INOVIO’s Board of Directors has approved the award of restricted stock units ("RSUs") covering an aggregate of 10,000 shares of common stock and options to purchase an aggregate of 50,000 shares of common stock, with a grant date of July 31, 2023 (the "Grant Date"), to two newly hired employees in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over a three-year period, with one-third of the shares vesting on each of the first, second and third anniversaries of the Grant Date. The stock options have an exercise price of $0.53, the closing price of INOVIO’s common stock on the Grant Date. The stock options will vest and become exercisable with respect to one-fourth of the shares underlying the stock options vested on the Grant Date, and an additional one-fourth of the shares underlying the stock options on the first, second, and third anniversaries of the Grant Date. The vesting of the RSUs and stock options will be subject to the employees’ continued employment with INOVIO on the applicable vesting dates. Each of these awards is subject to the terms and conditions of a stock option agreement and RSU award agreement, as applicable, under the Inducement Plan.

Twist Bioscience Reports Fiscal Third Quarter 2023 Financial Results

On August 4, 2023 Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, reported financial results and business highlights for the third quarter of fiscal 2023 ended June 30, 2023 (Press release, Twist Bioscience, AUG 4, 2023, View Source [SID1234633830]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We reported record revenue again this quarter, with our core business, comprised of SynBio and NGS, delivering very strong results," said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. "Significantly, our Wilsonville site manufactured and shipped the vast majority of our genes, gene fragments and oligo pools, with the new team performing well. We continued to expand our NGS portfolio with the launch of our RNA sequencing portfolio targeting the substantial research market."

Dr. Leproust continued, "As we look forward, we expect continued growth in the core business, driven by taking market share, an increasing customer base and expanding product portfolio. For Biopharma Solutions, we will continue to focus on hiring the right commercial leaders, serving our customers, and closing new deals both with existing and new partners while keeping a keen eye on evaluating, analyzing and managing this business to ensure value creation in the short, medium and long term. In data storage, we remain on track to demonstrate an end-to-end gigabyte Century Archive workflow by the end of calendar 2023."

FISCAL 2023 THIRD QUARTER FINANCIAL RESULTS

Orders: Total orders received for the third quarter of fiscal 2023 were $63.8 million compared to $59.7 million for the same period of fiscal 2022.
Revenue: Total revenues for the third quarter of fiscal 2023 were $63.7 million compared to $56.1 million for the same period of fiscal 2022.
Cost of Revenues: Cost of revenues for the third quarter of fiscal 2023 was $41.8 million compared to $31.0 million for the same period of fiscal 2022.
Research and Development Expenses: Research and development expenses for the third quarter of fiscal 2023 were $24.5 million compared to $36.8 million for the same period of fiscal 2022.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the third quarter of fiscal 2023 were $46.1 million compared to $53.7 million for the same period of fiscal 2022.
Net Loss: Net loss attributable to common stockholders for the third quarter of fiscal 2023 was $57.4 million, or $1.01 per share, compared to $60.5 million, or $1.08 per share, for the same period of fiscal 2022.
Cash Position: As of June 30, 2023, the company had $357.1 million in cash, cash equivalents and investments.
Recent Highlights:

Shipped products to approximately 2,200 customers in the third quarter of fiscal 2023, versus approximately 1,900 in the third quarter of fiscal 2022.
Shipped approximately 171,000 genes during the third quarter of fiscal 2023, compared with approximately 163,000 in the third quarter of fiscal 2022.
Expanded the executive leadership team with the appointments of Robert Werner as chief accounting officer and Chet Gandhi as chief information officer.
Announced Jim Thorburn, chief financial officer (CFO), will transition to a new role supporting commercial scaling, operational leverage and DNA data storage once a new CFO is hired.
Entered into a new market with the launch of a portfolio of RNA sequencing tools to enable targeted or whole transcriptome research across fields including precision medicine, biomarker discovery and immuno-oncology research.
Entered into a collaboration with Cancer Research Horizons, the innovation arm of Cancer Research UK, by which Cancer Research Horizons will license the entire Twist Biopharma Solutions Library of Libraries.
Published preclinical data supporting the potential use of the highly potent and optimized GLP-1R antagonist antibody, TB-222-023, as a treatment for congenital hyperinsulinism in the journal Diabetes.
Presented at Imec Technology Forum (ITF) World 2023 on how industry growth could be fueled by using CMOS-based chips for high-density DNA synthesis for data storage applications.
Fiscal 2023 Financial Guidance

The following statements are based on Twist’s current expectations for fiscal 2023. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Forward-Looking Statements" below.

For the full fiscal year 2023, Twist provided the following updated financial guidance:

Revenue is expected to be approximately $241 million to $242 million, compared to previous guidance of $235 million to $238 million
SynBio revenue is expected to be approximately $98 million, at the high end of the previous guidance of $96 million to $98 million
NGS revenue is expected to be approximately $120 million, compared to previous guidance of $113 million to $114 million
Biopharma revenue is estimated to be approximately $23 million to $24 million compared to previous guidance of $26 million
Gross margin for fiscal 2023 is expected to be 36%, at the high end of the range of previous guidance of 35-36%
Operating expenses including R&D and SG&A are expected to be approximately $308 million, compared to previous guidance of $313 million to $319 million
R&D expense is expected to be approximately $109 million, compared to previous guidance of $112 million to $114 million
SG&A expense is expected to be $189 million, compared to previous guidance of $197 million to $200 million
Mark to market of contingent consideration and indemnity holdbacks is projected to be a credit of $6 million, compared to previous guidance of $5 million
Restructuring costs are expected to be approximately $14 million, which includes approximately $4 million of asset and lease hold impairment charges related to the transition of SynBio operations from South San Francisco to Wilsonville, compared to previous guidance of $9 million to $11 million
Other income and expense for the year is projected to be approximately $12 million
Operating loss is expected to be approximately $220 million inclusive of one-time charges for restructuring of $14 million, compared to our previous guidance of $230 million to $234 million and includes the following:
Stock-based compensation is expected to be approximately $32 million, compared to our previous guidance of $43 million
Depreciation and amortization are expected to be approximately $29 million, unchanged from previous guidance
Operating expenses for DNA data storage is expected to be approximately $40 million, unchanged from previous guidance
Capital expenditure is expected to be approximately $35 million, compared to previous guidance of $40 million
FY23 Year End Cash is projected to be $325 million, compared to previous guidance of $320 million
For the fourth quarter of fiscal 2023, Twist provided the following financial guidance:

Revenue is expected to be approximately $63 million to $64 million, compared to previous guidance of $62 to $63 million
Gross margin is expected to be approximately 36%
R&D expense is expected to be approximately $26 million
SG&A expense is expected to be approximately $47 million
Restructure expense is expected to be approximately $1 million
Fiscal 2024 Financial Guidance

For the full fiscal year 2024, Twist provided the following financial guidance:

Twist expects to exit fiscal 2024 with adjusted EBITDA breakeven for its core (SynBio, NGS) business in the fourth quarter
Operating expenses for DNA data storage are expected to be $40 million
Fiscal year end cash is projected to be $220 million
Twist expects to be delayed in reaching its initial timeline in achieving adjusted EBITDA breakeven for its biopharma business exiting the fourth quarter of fiscal 2024.