Year-End report 2024

On February 27, 2025 Oncopeptides reported year end report (Presentation, Oncopeptides, FEB 27, 2025, View Source [SID1234654165]).

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BioInvent International AB: Year-end report January 1 – December 31, 2024

On February 27, 2025 BioInvent reported year-end report January 1 to December 31, 2024 (Presentation, BioInvent, FEB 27, 2025, https://www.bioinvent.com/sites/bioinvent/files/pr/20250227-92fc1f95-a930-49cc-a48b-32c70e35f4c8-1.pdf?ts=1740639699 [SID1234652093]).

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PDS Biotech Announces up to $22 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

On February 27, 2025 PDS Biotechnology Corporation (Nasdaq: PDSB) ("PDS Biotech" or the "Company"), a late-stage immunotherapy company focused on transforming how the immune system targets and kills cancers, reported it has entered into securities purchase agreements with new and existing healthcare focused institutional investors as well as participation from certain directors of the Company, for the purchase and sale of 7,330,121 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 7,330,121 shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules (the "Offering") at a combined purchase price of $1.50 for the institutional investors and $1.66 for certain directors of the Company (Press release, PDS Biotechnology, FEB 27, 2025, View Source [SID1234650752]). The warrants will have an exercise price of $1.50 per share, will be immediately exercisable upon issuance and will expire 5 years from issuance. Approximately $11 million will be funded in full upon the closing of the Offering, and up to an additional $11 million may be funded upon full cash exercise of the warrants.

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The closing of the Offering is expected to occur on or about February 28, 2025, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $11 million.

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

The Company intends to use the net proceeds from the Offering for research and development expenses and general corporate purposes.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333- 267041) which was declared effective by the Securities and Exchange Commission (the "SEC") on September 2, 2022. The offering is made only by means of a prospectus which is part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at View Source Additionally, when available, electronic copies of the final prospectus supplement and the accompanying prospectus 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 any of the securities described herein, 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.

AbCellera Reports Full Year 2024 Business Results

On February 27, 2025 AbCellera (Nasdaq: ABCL) reported financial results for the full year 2024. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated (Press release, AbCellera, FEB 27, 2025, View Source [SID1234650733]).

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"In 2024 we made significant progress in transitioning from a platform company to a clinical-stage biotech, including advancing our internal pipeline and completing significant investments in our capabilities. We also maintained our strong cash position, closing the year with over $800 million in available liquidity to execute on our strategy," said Carl Hansen, Ph.D., founder and CEO of AbCellera. "As a result, we enter 2025 on track to initiate Phase 1 clinical trials for our first two programs, ABCL635 and ABCL575, and to start activities in our new clinical manufacturing facility."

FY 2024 Business Summary

Earned $28.8 million in total revenue.
Generated a net loss of $162.9 million, compared to net loss of $146.4 million in 2023.
Reached a cumulative total of 96 partner-initiated program starts with downstreams.
Reporting the advancement of three additional molecules in the clinic, bringing the cumulative total to 16 molecules to have reached the clinic.
Key Business Metrics

Cumulative Metrics

December 31, 2023

December 31, 2024

Change %

Partner-initiated program starts with downstreams

87

96

10

%

Molecules in the clinic

13

16

23

%

AbCellera started discovery on an additional nine partner-initiated programs with downstreams to reach a cumulative total of 96 partner-initiated program starts with downstreams in 2024 (up from 87 on December 31, 2023). AbCellera’s partners have advanced a cumulative total of 16 molecules into the clinic (up from 13 on December 31, 2023).

Discussion of FY 2024 Financial Results

Revenue – Total revenue was $28.8 million, compared to $38.0 million in 2023. In both periods, the majority of revenues were research fees generated by our partnerships.
Research & Development (R&D) Expenses – R&D expenses were $167.3 million, compared to $175.7 million in 2023, reflecting underlying continued growth in program execution, platform development, and investments in internal programs.
Sales & Marketing (S&M) Expenses – S&M expenses were $12.8 million, compared to $14.2 million in 2023.
General & Administrative (G&A) Expenses – G&A expenses were $72.7 million, compared to $61.0 million in 2023.
Net Loss – Net loss of $162.9 million, or $(0.55) per share on a basic and diluted basis, compared to net loss of $146.4 million, or $(0.51) per share on a basic and diluted basis, in 2023.
Liquidity – $652.9 million of total cash, cash equivalents, and marketable securities and approximately $186 million in available non-dilutive government funding, bringing total available liquidity to approximately $840 million to execute on AbCellera’s strategy.
Q4 Highlights and Financial Results

Abdera advanced ABD-147 into a Phase 1 clinical trial. AbCellera is a founding partner in Abdera, has a low-single-digit royalty stake in Abdera’s programs, and has a mid-single-digit equity ownership position.
Reporting the advancement of two Trianni-license molecules into the clinic.
Started one partner-initiated program with downstreams.
Revenue for the fourth quarter of 2024 was $5.1 million, the majority of which was research fees generated by our partnerships, representing 18% of total revenue for 2024.
Operating expenses totaled $77.8 million in the fourth quarter, or 23% of the total for 2024, and included investments made in co-development and internal programs.
The net loss for the fourth quarter was $34.2 million, or $(0.12) per share, on a basic and diluted basis.
Conference Call and Webcast

AbCellera will host a conference call and live webcast to discuss these results today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

The live webcast of the earnings conference call can be accessed on the Events and Presentations section of AbCellera’s Investor Relations website. A replay of the webcast will be available through the same link following the conference call.

Immune-Onc Therapeutics Announces First Patient Dosed with IO-108 in a Randomized Global Phase 1b/2 Study of First-Line Treatment of Advanced Liver Cancer in Clinical Collaboration with Roche

On February 27, 2025 Immune-Onc Therapeutics, Inc. ("Immune-Onc"), a private, clinical-stage biopharmaceutical company advancing novel therapies in immunology and oncology by targeting myeloid cell inhibitory receptors, reported that the first patient has been dosed with IO-108 in a global clinical collaboration with Roche (Press release, Immune-Onc Therapeutics, FEB 27, 2025, View Source [SID1234650732]). The Phase 1b/2 trial is designed to evaluate IO-108, a first-in-class antibody targeting LILRB2 (also known as ILT4), in combination with Roche’s atezolizumab and bevacizumab as a potential first-line treatment for patients with locally advanced or metastatic and/or unresectable hepatocellular carcinoma (HCC).

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"IO-108 has demonstrated promising clinical efficacy as a single agent and has a well-established safety profile to combine with different standard of care regimens. Dosing the first patient in this trial represents a significant advancement for Immune-Onc and, more importantly, for people battling advanced liver cancer," said Charlene Liao, Ph.D., chief executive officer of Immune-Onc. "We are excited to work with Roche to investigate how this combination therapy with IO-108 could enhance the current standard of care and offer improved outcomes for those who urgently need new therapeutic options."

The atezolizumab and bevacizumab combination is the first cancer immunotherapy regimen approved by the U.S. Food and Drug Administration for HCC and is the standard of care recommended by the National Comprehensive Cancer Network. By modulating myeloid cells in the tumor environment, IO-108 may reduce immune suppression, thereby enhancing the overall anti-tumor response and the potential to improve patients’ clinical outcomes.

The trial, sponsored by Roche, is expected to enroll 40 patients across 25 sites worldwide in the IO-108-containing arm. This arm will be compared to an active control arm of the atezolizumab and bevacizumab combination.

ABOUT THE RANDOMIZED CLINICAL TRIAL

The Phase 1b/2 global, randomized HCC study is part of Roche’s Morpheus-Liver program. It will evaluate IO-108 in combination with atezolizumab and bevacizumab versus atezolizumab and bevacizumab, the standard of care in patients with locally advanced or metastatic and/or unresectable HCC with no prior systemic treatment.

Initially, 40 patients will be enrolled across 25 sites worldwide in the IO-108 triplet combination, which will be compared to an active control arm of the atezolizumab and bevacizumab doublet combination. The study’s primary endpoint is objective response rate, and key secondary endpoints include progression-free survival and overall survival.

Under the terms of the clinical collaboration agreement, Roche will manage the study operations, and Immune-Onc will supply IO-108 to support the trial while retaining global rights to IO-108.

Tecentriq (atezolizumab) and Avastin (bevacizumab) are registered trademarks of Genentech, a member of the Roche Group.

Learn more about the trial here.

ABOUT HEPATOCELLULAR CARCINOMA

According to the American Cancer Society1, more than 800,000 people are diagnosed with liver cancer each year worldwide. It is also one of the leading causes of cancer deaths worldwide, accounting for more than 700,000 deaths each year. The number of people diagnosed is predicted to rise, with the incidence of liver cancer increasing by 55.0% and the number of deaths increasing by 56.4% between 2020 and 20402. Hepatocellular carcinoma is the most common form of liver cancer in the United States, making up almost 90% of cases3. Nine out of ten cases of HCC are caused by chronic liver disease, which includes chronic hepatitis B and C infection, non-alcoholic fatty liver disease (NAFLD), non-alcoholic steatohepatitis (NASH), alcohol-related liver disease (ALD), and cirrhosis resulting from these conditions4.

ABOUT IO-108

IO-108 is a fully human IgG4 monoclonal antibody with high affinity and specificity towards the myeloid checkpoint, LILRB2 (also known as ILT4). It blocks the interaction of LILRB2 with multiple ligands involved in cancer-associated immune suppression, including HLA-G, ANGPTLs, SEMA4A, and CD1d. Clinical data from the U.S. Phase 1 dose escalation study of IO-108 (NCT05054348) was selected as an oral presentation at the 2023 American Association for Cancer Research (AACR) (Free AACR Whitepaper) annual meeting and published in the Journal for ImmunoTherapy of Cancer in 2024, which demonstrated a favorable safety profile and encouraging clinical benefit utilizing IO-108 as a monotherapy and in combination with anti-PD-1 across multiple tumor types. A global, randomized Phase 1b/2 study is underway to evaluate IO-108 in combination with atezolizumab and bevacizumab as a potential first-line therapy for hepatocellular carcinoma (HCC).