iTeos Therapeutics to Highlight Inupadenant Preclinical, Translational, and Phase 2 A2A-005 Clinical Trial Data in 2L NSCLC at ESMO Immuno-Oncology Congress

On October 24, 2024 iTeos Therapeutics, Inc. (Nasdaq: ITOS) ("iTeos"), a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of immuno-oncology therapeutics for patients, reported that preclinical, translational, and clinical data from inupadenant will be presented at the European Society for Medical Oncology Immuno-Oncology (ESMO-IO) Congress 2024, being held December 11-13, 2024 in Geneva, Switzerland (Press release, iTeos Therapeutics, OCT 24, 2024, View Source [SID1234647376]). The clinical and translational data from the dose escalation portion of A2A-005, the Phase 2 trial assessing inupadenant and platinum-doublet chemotherapy in post-immunotherapy metastatic non-small cell lung cancer (NSCLC) patients, will be presented as mini oral presentations. Preclinical data from inupadenant will be presented in the poster session.

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Mini Oral Presentation Details
Title: The A2AR Antagonist Inupadenant Promotes Humoral Responses in Patients
Abstract Number: 174MO
Session Title: Mini Oral Session 1
Date / Time: December 12, 2024 at 9:24 am CEST

Title: Inupadenant Combined with Chemotherapy in Patients with Non-Squamous NSCLC Progressing On or After Immune Checkpoint Inhibitor Therapy: Results from Dose-Finding Part of the A2A-005 Trial
Abstract Number: 120MO
Session Title: Mini Oral Session 2
Date / Time: December 12, 2024 at 14:55 pm CEST

Poster Presentation Details
Title: The A2AR Antagonist Inupadenant Promotes Humoral Responses in Preclinical Models
Abstract Number: 48P
Session Title: Poster Display Session
Date / Time: December 12, 2024 at 12:30 pm CEST

ESMO-IO indicates that all regular abstracts will be published on the ESMO (Free ESMO Whitepaper)-IO website on Thursday, December 5, 2024 at 00:05 am CEST.

Mustang Bio Announces Exercise of Warrants for $4 Million Gross Proceeds

On October 24, 2024 Mustang Bio, Inc. ("Mustang" or the "Company") (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell therapies into potential cures for difficult-to-treat cancers, reported that it has entered into a definitive agreement for the exercise of certain existing warrants to purchase an aggregate of 16,877,638 shares of its common stock having an exercise price of $0.237 per share, originally issued in May 2024 (Press release, Mustang Bio, OCT 24, 2024, View Source [SID1234647375]). The issuance or resale of the shares of common stock issuable upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-1 (File No. 333-278006). The gross proceeds to the Company from the exercise of the existing warrants are expected to be approximately $4 million, prior to deducting placement agent fees and offering expenses payable by the Company.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

In consideration for the immediate exercise of the existing warrants for cash, the Company will issue new unregistered warrants to purchase up to an aggregate of 33,755,276 shares of common stock. The new warrants will have an exercise price of $0.27 per share and will be exercisable commencing on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the new warrants (the "Stockholder Approval"). The new warrants to purchase 16,877,638 shares of common stock will have a term of five years from the Stockholder Approval, and the new warrants to purchase 16,877,638 shares of common stock have a term of twelve months from the Stockholder Approval.

The offering is expected to close on or about October 25, 2024, subject to satisfaction of customary closing conditions. Mustang currently intends to use the net proceeds from the offering for working capital and general corporate purposes.

The new warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock issuable upon exercise of the new warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the new warrants issued in the private placement and the shares of common stock underlying the new warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issuable upon the exercise of the new warrants.

This press release does not constitute an offer to sell or a 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.

Molecular Partners Announces Pricing of $20 Million Underwritten Offering

On October 24, 2024 Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics ("Molecular Partners" or the "Company"), reported the pricing of an underwritten offering in the United States of 3,642,988 American Depositary Shares ("ADSs") representing 3,642,988 ordinary shares at an offering price of $5.49 per ADS, for total gross proceeds of approximately $20.0 million (Press release, Molecular Partners, OCT 24, 2024, View Source [SID1234647374]). All of the ADSs to be sold in the offering will be offered by Molecular Partners. The offering is expected to close on October 29, 2024, subject to customary closing conditions.

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The offering included participation from a new investor HBM Healthcare Investments Ltd, which is a leading healthcare investor, as well as multiple existing investors. Leerink Partners and TD Cowen are acting as joint bookrunning managers for the offering. LifeSci Capital is acting as lead manager for the offering, with Zürcher Kantonalbank (ZKB) serving as settlement agent.

Molecular Partners currently intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, for development and expansion of its radiopharmaceutical pipeline and platform (Radio-DARPin Therapeutics) and for working capital and other general corporate purposes.

The securities are being offered pursuant to an effective F-3 shelf registration statement that was previously filed with the Securities and Exchange Commission ("SEC"). A prospectus supplement will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, for free from Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected] or from TD Securities (USA) LLC, 1 Vanderbilt Avenue New York, New York 10017, by telephone at (855) 495-9846 or by email at [email protected].

The SIX Swiss Exchange ("SIX") has pre-approved, subject to certain customary conditions, the listing of the new ordinary shares underlying the ADSs on October 17, 2024. In connection with the listing of the new ordinary shares underlying the ADSs on the SIX, the registration statement on Form F-3, filed by the Company with the SEC together with the prospectus supplement constitute a foreign prospectus within the meaning of article 54 paras. 2 and 3 of the Swiss Financial Services Act of June 15, 2018 ("FinSA") and article 70 paras. 2-4 of the Swiss Financial Services Ordinance of November 6, 2019 ("FinSO"). The registration statement on Form F-3 has been deposited with and approved by the Prospectus Office of SIX Exchange Regulation and has been included as a foreign prospectus in the prospectus list published by the Prospectus Office of SIX Exchange Regulation. The prospectus supplement will be filed with the Prospectus Office.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. There is no intention to publicly offer, solicit, sell or advertise, directly or indirectly, any securities of Molecular Partners in or into Switzerland within the meaning of FinSA.

Skyhawk Therapeutics Presents Compelling Preclinical Data on SKY-1214 at the EORTC-NCI-AACR Molecular Targets and Cancer Therapeutics Symposium

On October 24, 2024 Skyhawk Therapeutics, Inc., a clinical-stage biotechnology company developing novel small molecule therapies designed to modulate critical RNA targets, reported that the Company presented compelling preclinical data highlighting the therapeutic potential of its first-in-class compound, SKY-1214, at the European Organization for Research and Treatment of Cancer (EORTC)-National Cancer Institute (NCI)-American Association for Cancer Research (AACR) (Free AACR Whitepaper) Molecular Targets and Cancer Therapeutics Symposium ("EORTC-NCI-AACR" or the "Triple Meeting") (Press release, Skyhawk Therapeutics, OCT 24, 2024, View Source [SID1234647373]).

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SKY-1214 is a first-in-class, oral RNA splicing modulator discovered through the company’s novel RNA-splicing platform and being developed for difficult-to-treat multiple myeloma (MM) and non-Hodgkin’s lymphoma (NHL). SKY-1214 targets FANCL/FANCI, critical components of the Fanconi anemia DNA damage repair pathway, which MM and NHL cells use to maintain their genome integrity.

Study authors concluded that SKY-1214 shows potent and efficacious anti-cancer activity in MM and NHL models in vitro, including in models with high-risk cytogenetic and/or genetic alterations (e.g., t(14;16), t(4;14), 1q+, and double-hit lymphoma). Additionally, in vivo treatment with SKY-1214 as a monotherapy resulted in tumor growth inhibition and regression to undetectable levels at tolerated doses in NHL and difficult-to-treat MM xenograft mouse models, including KMS-28BM.

"We’re excited to present these data and to introduce SKY-1214, our most-advanced oncology program, ready for IND submission," said Sergey Paushkin, M.D., Ph.D., Co-founder, Head of R&D at Skyhawk. "There are a number of approved treatments for both MM and NHL, but all patients with MM eventually progress and only 50% of patients with certain NHL subtypes can be cured, underscoring the urgent need for new therapies with novel mechanisms of action. SKY-1214’s profound anti-cancer activity, including in these high-risk tumor cell lines, supports further development and exploration as a single agent and in combination treatment in these difficult-to-treat cancers."

The poster is available on the Skyhawk website at www.skyhawktx.com/resources.

About SKY-1214

SKY-1214 is a first-in-class, oral FANCL/FANCI targeting RNA splicing modulator being developed for difficult to treat multiple myeloma (MM) and non-Hodgkin’s lymphoma (NHL). FANCL/FANCI are critical components of the Fanconi anemia DNA damage repair pathway, which MM and NHL tumor cells use to maintain their genome integrity. Skyhawk has observed anti-tumor activity for SKY-1214 in a number of preclinical cell models, including those representing prevalent high-risk cytogenetic alterations. SKY-1214 also demonstrated anti-tumor activity in human tumor cell-derived xenograft mouse models correlating with FANCL/FANCI mRNA reduction. SKY-1214 has completed IND-enabling studies.

Prelude Therapeutics Presents New Data from SMARCA Degrader Portfolio at the 36th EORTC-NCI-AACR Symposium

On October 24, 2024 Prelude Therapeutics Incorporated (Nasdaq: PRLD) ("Prelude" or the "Company"), a clinical-stage precision oncology company, reported the presentation of additional data from its ongoing Phase 1 open-label, dose-escalation trial of PRT3789, a first-in-class, highly selective SMARCA2 degrader designed to treat cancer patients with a SMARCA4 mutation (Press release, Prelude Therapeutics, OCT 24, 2024, View Source [SID1234647372]). The data were presented at a plenary session of the 36th Annual EORTC-NCI-AACR (Free EORTC-NCI-AACR Whitepaper) Symposium in Barcelona, Spain.

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The study investigators reported, as of September 23, 2024 (the Cutoff Date), additional follow up data on 65 patients that were enrolled, treated, and safety evaluable. PRT3789 was generally well-tolerated through 8 dosing cohorts. The majority of adverse events reported by investigators have been mild to moderate.

Overall, of the 26 advanced, heavily pre-treated NSCLC or esophageal patients with Class 1 (loss of function) mutations evaluable for efficacy, now with additional follow up, RECIST partial responses (PRs) were confirmed in 4 patients, including 2 of 9 NSCLC patients with confirmed PRs at doses of 283 mg or higher. As anticipated, higher doses are resulting in deeper and more sustained SMARCA2 degradation in PBMCs. Additional patients demonstrated clinical benefit as measured by prolonged stable disease (SD) including one patient on treatment for more than a year.

"We, along with our study investigators, are encouraged by the promising activity shown to date by PRT3789 in this novel first-in-class mechanism for patients who have limited treatment options," stated Jane Huang, M.D., President and Chief Medical Officer of Prelude. "We look forward to further characterizing and understanding the full potential of PRT3789 through ongoing monotherapy dose escalation and in combination studies with both docetaxel and pembrolizumab."

PRT3789 Interim Phase 1 Results

PRT3789 is currently being evaluated in an ongoing dose-escalation Phase 1 trial in heavily pre-treated patients with advanced solid tumors harboring any SMARCA4 mutation who have relapsed/refractory disease. Sixty-five patients with advanced cancer were treated once weekly via intravenous infusion at eight dose levels (24 mg, 48 mg, 80 mg, 120 mg, 160 mg, 212 mg, 283 mg, 376 mg), and follow up data reported through to September 23, 2024. The median age of these patients was 62 and the median number of prior treatments was 3 (ranging from 1-10). 34 patients (52.3%) presented with a Class 1 (loss of function) SMARCA4 mutation, while 24 patients (36.9%) presented with a Class 2 (missense, VUS) SMARCA4 mutation and 7 (10.8%) had a loss of SMARCA4 protein.

Initial Safety Data

PRT3789 was generally well-tolerated. Treatment emergent adverse events of any grade observed to date consisted of nausea (26.2%), fatigue (21.5%), anemia (20.0%), decreased appetite (20.0%), abdominal pain (18.5%), and constipation (18.5%). No dose limiting toxicities were observed and no study drug-related serious adverse events were reported.

Pharmacokinetic (PK) and Pharmacodynamic (PD) Data

Preliminary PK data was available from 24 mg to 376 mg dose cohorts. A general trend of increases in exposure (Cmax, AUC) with dose was observed. Mean concentrations were observed above SMARCA2 plasma DC50 (21 nM) for approximately 8 hours at the 376 mg dose. No accumulation was observed with repeat dose administration, consistent with the half-life and once-weekly administration. PD effect (as measured by SMARCA2 protein levels in peripheral blood mononuclear cells) observed was more prolonged than PK half-life. Higher dose levels, above 212 mg, demonstrated a deeper, more consistent, and more prolonged PD effect. SMARCA2 degradation was observed in both peripheral blood mononuclear cells (PBMC) and in available tumor tissue as shown through biopsy.

Analysis of Initial Clinical Activity

Of the 26 advanced NSCLC or esophageal patients with Class 1 (loss of function) mutations who were evaluable for efficacy, RECIST confirmed partial responses (PRs) were observed in 4 patients (2 esophageal, 2 NSCLC), including 2 of 9 NSCLC patients with confirmed PRs at doses of 283 mg or higher. Tumor shrinkage was observed in patients with both Class 1 and Class 2 SMARCA4 mutations. Additional patients on-study demonstrated clinical benefit as measured by prolonged SD, including one advanced NSCLC patient who remains stable and on study having been treated for more than 1 year.

Initial observations of safety from evaluable patients in the PRT3789 plus docetaxel combination dose escalation arm of the trial were also presented. To date, PRT3789 in combination with docetaxel demonstrated an acceptable safety profile, with no dose limiting toxicities or study drug serious adverse events reported.

Additional SMARCA Degrader Presentations

The Company also provided two poster presentations at the conference.

The Selective SMARCA2 Degrader, PRT3789, Counteracts the Protective Cellular Stress Response to Chemotherapy and Enhances the Efficacy of Standard of Care Chemotherapeutic Agents in SMARCA4 Mutant NSCLC Models

The combination of PRT3789 with standard of care NSCLC chemotherapy agents significantly enhances anti-tumor activity in preclinical models of SMARCA4-mutated NSCLC. Downregulation of dominant gene pathways by PRT3789, specifically counters docetaxel-induced upregulation of the E2F and G2/M pathways, resulting in a more comprehensive cell cycle blockade and increased apoptosis in SMARCA4-mutated cells. This synergistic activity was observed with both Class I (loss of function) mutations and Class II (missense) mutations.

Discovery of First-in-Class Precision Antibody Drug Conjugates with a Potent SMARCA 2/4 Dual Degrader Payloads that Safely Achieve Maximal and Tumor Specific Degradation and Efficacy in Mouse Models

PRP0004 is a potent SMARCA2/4 dual degrader that robustly inhibits cancer cell growth and induces cell death. Conjugation of PRP0004 to clinically-validated antibodies yielded novel degrader antibody conjugates (DACs), which demonstrated potent and antigen-selective internalization and SMARCA2 and SMARCA4 degradation in cell lines derived from multiple cancers. Prostate cancer cell lines were among the most sensitive to the PRP0004 degrader payload. PRP0004 downregulated multiple drivers of prostate cancer cell growth and survival and resulted in cell death, rationalizing the use of PSMA-targeting antibodies for initial proof-of-concept studies in preclinical models.

As expected, dosing with PRP0004 on its own was highly efficacious in prostate cancer xenografts but displayed a narrow therapeutic window. However, when delivered as a payload on anti-PSMA antibodies, the anti-PSMA SMARCA2/4 DACs demonstrate robust SMARCA2 and SMARCA4 degradation and antigen-dependent efficacy in xenograft models while being well-tolerated. These data highlight the potential of this first-in-class precision ADC approach utilizing a highly potent SMARCA2/4 dual degrader payload to achieve maximal target degradation in tumors while sparing healthy tissues. This strategy has the potential to significantly expand the reach of Prelude’s novel SMARCA degraders to treating patients without SMARCA4 mutations.

"Preclinical data presented today with our novel approach to develop degrader antibody conjugates by using potent dual degraders of SMARCA2 and 4 as payloads offers first proof-of-concept of effectively and safely targeting an important mechanism to treat cancers beyond those with SMARCA4 mutations" stated Peggy Scherle, Ph.D., Chief Scientific Officer of Prelude.

All of the above noted presentations can be found at Publications – Prelude Therapeutics (preludetx.com).

About PRT3789-01

PRT3789 is a first-in-class, potent and highly selective SMARCA2 degrader, in Phase 1 clinical development in SMARCA4-mutated patients. Enrollment remains on track, and the Company expects to conclude monotherapy dose escalation by year end 2024 and identify the biologically active dose to advance for future registrational trials. In addition, enrollment of patients into back-fill cohorts enriched for NSCLC and SMARCA4 loss-of-function mutations at higher dose levels is ongoing. The objective is to assess clinical activity in a more homogeneous group of patients with high unmet need to support planned discussions with regulatory agencies. A maximum tolerated dose has not yet been identified. Dose escalation continues, now in the 10th dosing cohort (665 mg IV once weekly).