On March 12, 2026 Mestag Therapeutics ("Mestag"), a biotech company harnessing fibroblast immunology for the benefit of patients with inflammatory disease and cancer, reported that it will be presenting a poster at the Cancer Immunotherapy: Basic Mechanisms Informing Clinical Applications & Combinations Keystone Symposia taking place March 15-18, 2026, in Québec City, Canada, titled "MST-0312: FAP-targeted LTBR Agonist Induces High Endothelial Venules, Lymphocyte Infiltration and Tertiary Lymphoid Structures in Solid Tumors."

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Poster Details:

Title: MST-0312: FAP-targeted LTBR Agonist Induces High Endothelial Venules, Lymphocyte Infiltration and Tertiary Lymphoid Structures in Solid Tumors
Poster Number: 1037
Date: March 16, 2026
Time: 1:00-3:00 p.m. ET
Session Title: Poster Session 1

About MST-0312
MST-0312 is a first-in-class targeted lymphotoxin beta receptor (LTBR) agonist bispecific antibody designed to induce tertiary lymphoid structures (TLS) and high endothelial venules (HEV) in solid tumors. A remarkable body of clinical evidence correlates the presence of TLS and HEV in tumors with improved response to treatment and patient survival outcomes. It is believed that TLS/HEV formation drives improved access of lymphocytes into tumor tissue, and facilitates local education and activation to tumor antigens. LTBR is the key pathway driving TLS/HEV formation. Preclinical studies show that MST-0312 monotherapy induces strong, dose-dependent anti-tumor responses, including in low-antigen tumors that are typically resistant to immunotherapy. MST-0312 is planned to enter the clinic in 2026 with the initiation of the Phase 1 STARLYS trial, advised by leading cancer experts.

(Press release, Mestag Therapeutics, MAR 12, 2026, View Source [SID1234663525])

On March 12, 2026 Elicio Therapeutics, Inc. (Nasdaq: ELTX, "Elicio" or the "Company"), a clinical-stage biotechnology company developing a pipeline of novel immunotherapies for the treatment of cancer, reported financial results for the year ended December 31, 2025, and provided recent corporate and clinical updates.

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"In 2025, we made meaningful progress advancing ELI-002 7P in KRAS-mutant pancreatic cancer," said Robert Connelly, Chief Executive Officer of Elicio. "We remain focused on completing the Phase 2 AMPLIFY-7P trial and reaching the event-driven primary DFS analysis expected in 1H 2026. We are encouraged by the continued observation of fewer disease progressions and deaths to date than projected in the 2:1 randomized trial, as well as by the durability of T-cell responses and clinical observations reported to date, which reinforce our confidence in ELI-002 7P’s potential to favorably impact outcomes. With capital expected to carry us beyond the anticipated DFS readout, we believe we are well positioned to deliver this important milestone and continue advancing our Amphiphile ("AMP") platform in KRAS-mutant PDAC. We remain highly interested in the potential to expand the development of ELI-002 7P to neoadjuvant and metastatic PDAC and other KRAS+ tumors, with the goal of creating meaningful long-term value for patients and shareholders."

Recent Highlights

In 2025, Elicio continued advancement of the randomized Phase 2 AMPLIFY-7P trial in post-resection mKRAS PDAC, with the event-driven primary DFS analysis remaining on track for an anticipated 1H 2026 readout
In December 2025, Elicio reported evidence of antigen spreading to patient-specific neoantigens beyond mKRAS in the ongoing Phase 2 AMPLIFY-7P trial, demonstrating induction of de novo T cell responses against non-vaccine tumor neoantigens and further supporting the breadth and potential durability of the ELI-002 7P immune response in mKRAS-driven PDAC
In November 2025, Elicio appointed Marc J. Wolfgang as Chief Technology Officer, strengthening the Company’s chemistry, manufacturing, and controls and technical operations capabilities to support late-stage development and potential commercialization readiness

Upcoming Anticipated Milestones for the AMPLIFY-7P Phase 2 Trial

Oral presentation in the Targeted Immunotherapies section at the World Vaccine Congress Washington 2026 (March 30–April 2, 2026; Walter E. Washington Convention Center, Washington, D.C.), scheduled for Wednesday, April 1st at 12:40 PM ET, by Dr. Peter DeMuth, Chief Scientific Officer, highlighting the ELI-002 platform overview, updated Phase 1 2P data (safety, T-cell responses, correlations to tumor biomarkers, RFS and OS), Phase 1 7P data, and Phase 2 AMPLIFY-7P updates (T-cell responses, HLA association and antigen spreading)
ELI-002 to be highlighted by principal investigator Dr. Shubham Pant of The University of Texas MD Anderson Cancer Center (Houston, TX) during his pancreatic cancer presentation in the Advances in Pancreatic Cancer Research and Treatment session at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) ("AACR") Annual Meeting 2026 (April 17–22, 2026; San Diego, CA), scheduled for Tuesday, April 21st at 12:30 PT
Event-driven primary DFS analysis of the Phase 2 AMPLIFY-7P trial anticipated in 1H 2026
Plans to request an End-of-Phase 2 meeting with the U.S. Food and Drug Administration ("FDA") to finalize the Phase 3 trial design for ELI-002 7P in resected mKRAS PDAC following completion of the primary DFS analysis
Finalize the Phase 3 protocol and advance ELI-002 7P toward initiation of a registrational study following the primary DFS endpoint analysis, subject to regulatory alignment.
Continued translational and immunologic data updates from the AMPLIFY 7P program, including additional analyses of antigen spreading and T-cell durability

2025 Financial Results

R&D expense for 2025 was $24.9 million, compared to $33.7 million for 2024. The decrease in R&D expense was primarily related to lower clinical costs as patients progressed into the observation phase of the Phase 2 study of ELI-002 7P.

G&A expense for 2025 was $12.8 million, compared to $11.3 million for 2024.

Net loss for 2025 was $39.5 million, compared to $51.9 million for 2024. Net loss for 2025 includes $1.9 million of non-cash other expense resulting from the change in fair value of the warrant liability. Net loss per share for 2025 was $2.58, compared to $4.25 for 2024.

Cash and cash equivalents as of December 31, 2025, were $18.6 million, compared to $17.6 million as of December 31, 2024.

The Company expects its current cash and cash equivalents and projected at-the-market program proceeds to support operations into Q3 2026, beyond the anticipated AMPLIFY-7P Phase 2 event-driven DFS analysis expected in 1H 2026. The Company raised net proceeds of approximately $4.9 million in Q4 2025 and $6.3 million in Q1 2026 to date, through its established at-the-market program.

(Press release, Elicio Therapeutics, MAR 12, 2026, View Source [SID1234663524])

On March 12, 2026 Meiji Seika Pharma Co., Ltd. (Headquarters: Chuo-ku, Tokyo, Japan; President and Representative Director: Toshiaki Nagasato) announced today that it has initiated a Phase I clinical trial of ME3241 (development code), an anti-PD-1 agonist monoclonal antibody discovered through collaborative research with the Foundation for Biomedical Research and Innovation at Kobe (Headquarters: Kobe, Japan; President: Shuh Narumiya; hereinafter "FBRI"). The Phase I clinical trial is designed as a randomized, placebo-controlled, double-blind study, with the objective of evaluating the safety and tolerability of ME3241 following single and multiple dosing, as well as its pharmacokinetics and pharmacodynamics (ClinicalTrials.gov: NCT07422207).

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ME3241 was discovered through a collaborative research program led by Program Director Tasuku Honjo, a professor emeritus at Kyoto University. PD-1 is a molecule expressed on activated T cells and other lymphocytes that suppresses immune responses. Through this research, Meiji Seika Pharma and FBRI identified the conditions required to induce immunosuppression by stimulating PD-1 with antibodies, and these findings were published in Science Immunology on January 13, 2023. ME3241 is a unique anti-PD-1 agonist antibody with enhanced PD-1 agonist activity and has the potential to advance clinical development as a therapeutic agent for inflammatory diseases, including autoimmune diseases caused by excessive immune responses.

Meiji Seika Pharma and FBRI will continue to collaborate to advance the development of ME3241 and strive to provide meaningful benefits to patients with autoimmune diseases at the earliest opportunity.

Message from Tasuku Honjo, Program Director, Honorary President, Foundation for Biomedical Research and Innovation at Kobe (FBRI)

The initiation of the Phase I clinical trial of an autoimmune disease therapy by a PD-1 agonist antibody is highly significant, as our finding marks a major milestone in taking a step toward potential therapeutic application for human disease.

This therapeutic approach, which is completely opposite of the widely used cancer therapy employing a PD-1 antagonist antibody, originated from basic research initiated shortly after my appointment as director. After achieving robust results in animal models, we have now reached this clinical stage.

Should safety be confirmed in Phase I, there is strong expectation that the program will progress to Phase II to evaluate efficacy, and subsequently to Phase III with the aim of practical implementation. I am truly delighted by this advancement toward the practical realization of the vision of Kobe Biomedical Innovation Cluster.

Message from Takeshi Naruse, Senior Managing Executive Officer and Head of Research & Development, Meiji Seika Pharma

We have been advancing collaborative research with Professor Tasuku Honjo to discover and develop new drug candidates for inflammatory diseases, an area closely related to Meiji Seika Pharma’s focus on infectious diseases. We are pleased to begin a Phase I clinical trial of ME3241, a unique PD-1 agonist antibody established based on robust foundational research with Professor Honjo and his colleagues. We will expedite the development of ME3241 and strive to deliver it to patients with autoimmune diseases as soon as possible.

On March 12, 2026 Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, reported financial results and operational highlights for the fourth quarter and year ended December 31, 2025.

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"Adicet closed the year with solid momentum, driven by strong enrollment progress and the positive data from the prula-cel Phase 1 autoimmune study reported during the fourth quarter. Enrollment in our Phase 1 prula‑cel autoimmune study continues advancing ahead of expectations, supported by significant physician and patient interest in the study and FDA alignment that enables outpatient dosing for LN and SLE patients. We look forward to providing a clinical update in LN, SLE and SSc in the first half of this year," said Chen Schor, President and Chief Executive Officer of Adicet Bio. "Beyond prula-cel, we expect to submit a regulatory filing for ADI-212 for the treatment of mCPRC in the third quarter of 2026 with enrollment expected to begin in the fourth quarter of 2026. Adicet is well positioned for continued execution and poised to deliver meaningful, value‑driving milestones in the year ahead."

Fourth Quarter 2025 and Recent Operational Highlights:

Autoimmune diseases

Phase 1 trial of prula‑cel demonstrating strong enrollment momentum across multiple autoimmune indications, with next clinical update expected in the first half of 2026. Adicet continues to advance its ongoing Phase 1 clinical trial evaluating prula-cel across multiple autoimmune diseases. Prula-cel has received Fast Track Designation from the FDA for the potential treatment of relapsed/refractory Class III or Class IV LN, refractory SLE with extrarenal involvement, and systemic sclerosis (SSc). The next clinical update is expected in the first half of 2026, with plans to provide an additional clinical update from the study in the second half of 2026. Adicet plans to meet with the FDA in the second quarter of 2026 to inform potential pivotal trial design. Subject to regulatory clearance to proceed, the Company expects to initiate a pivotal study in LN or LN and SLE patients in the second half of 2026.
Alignment with FDA allows outpatient dosing for LN and SLE patients. In November 2025, the Company reached alignment with the FDA to allow LN and SLE patients to be dosed with prula-cel in the outpatient setting in ongoing and future clinical trials.
Phase 1 study underway in treatment-refractory rheumatoid arthritis (RA) patients to evaluate the potential to reduce conditioning requirements. In October 2025, Adicet dosed the first patient in a Phase 1 study of prula-cel in treatment refractory RA. The study is evaluating two lymphodepletion regimens: cyclophosphamide alone and cyclophosphamide in combination with fludarabine. The primary objective of the study is to assess the safety and tolerability of prula-cel, with secondary objectives including evaluation of cellular kinetics, pharmacodynamics, and disease activity scores. The next clinical update on this trial is expected in the second half of 2026.
Solid tumor indications

Preclinical development ongoing for ADI‑212, with a regulatory filing expected in the third quarter of 2026, which is expected to enable Phase 1 enrollment beginning in the fourth quarter of 2026. Adicet continues to advance preclinical development of ADI‑212, a next‑generation gene‑edited and armored cell therapy candidate targeting prostate-specific membrane antigen (PSMA). ADI‑212 is engineered to express a novel CAR binder designed to support enhanced tolerability and tumor‑specific recognition. It integrates membrane‑tethered IL‑12 armoring, and CRISPR/Cas9‑mediated disruption of subunit 12 (MED12) to enhance potency in solid tumors and deliver multiple anti‑tumor mechanisms of action within the tumor microenvironment. Adicet plans to submit a regulatory filing for ADI-212 for the treatment of mCRPC in the third quarter of 2026, with Phase 1 enrollment expected to begin in the fourth quarter of 2026, subject to regulatory clearance.
ADI‑212 preclinical data presented at scientific meeting. In October 2025, Adicet presented preclinical data from its ADI‑212 program at the 32nd Annual Prostate Cancer Foundation Scientific Retreat. The data supported the rationale for the program’s design features and demonstrated functional enhancements across multiple preclinical models of disease.
Financial Results for Fourth Quarter and Full Year 2025:

Three months ended December 31, 2025

Research and Development (R&D) Expenses: R&D expenses were $25.0 million for the three months ended December 31, 2025, compared to $23.3 million during the same period in 2024. The increase in R&D expenses was primarily due to a $6.1 million increase in expenses related to contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs), partially offset by a $2.7 million decrease in payroll and personnel expenses due to lower headcount and a $1.0 million decrease in facilities related expenses.
General and Administrative (G&A) Expenses: G&A expenses were $6.9 million for the three months ended December 31, 2025, compared to $7.5 million during the same period in 2024. The decrease in G&A expenses was primarily due to a $1.3 million decrease in rent and office related expenses and a $0.7 million decrease in professional services and consultants, partially offset by a $1.6 million increase in payroll and personnel expenses primarily related to stock-based compensation.
Net Loss: Net loss for the three months ended December 31, 2025 was $30.5 million, or a net loss of $2.94 per basic and diluted share, including non-cash stock-based compensation expense of $5.7 million, as compared to a net loss of $28.7 million, or a net loss of $5.06 per basic and diluted share, including non-cash stock-based compensation expense of $3.8 million during the same period in 2024.
Twelve months ended December 31, 2025

Research and Development (R&D) Expenses: R&D expenses were $99.1 million for the year ended December 31, 2025, compared to $99.3 million for the year ended December 31, 2024. The decrease in R&D expenses was primarily due to a $5.1 million decrease in payroll and personnel expenses related to lower headcount and a $0.7 million decrease in lab supplies and materials. The decrease was partially offset by a $5.6 million increase in CRO costs primarily for autoimmune studies.
General and Administrative (G&A) Expenses: G&A expenses were $23.0 million for the year ended December 31, 2025, compared to $28.3 million for the year ended December 31, 2024. The decrease in G&A expenses was primarily due to a decrease in payroll and personnel expenses primarily related to a decrease in stock-based compensation of $3.6 million, a $1.6 million decrease in office related expenses, and a $0.3 million decrease in rent expense.
Net Loss: Net loss for the year ended December 31, 2025 was $116.8 million, or a net loss of $16.95 per basic and diluted share, including non-cash stock-based compensation expense of $14.3 million, as compared to a net loss of $117.1 million, or a net loss of $21.33 per basic and diluted share, including non-cash stock-based compensation expense of $22.2 million during the same period in 2024.
Cash Position: Cash, cash equivalents and short-term investments were $158.5 million as of December 31, 2025, compared to $176.3 million as of December 31, 2024. In October 2025, Adicet successfully raised $74.8 million in net proceeds through an underwritten registered direct offering of equity securities. The Company expects that current cash, cash equivalents and short-term investments as of December 31, 2025, will be sufficient to fund its operating expenses into the second half of 2027.

(Press release, Adicet Bio, MAR 12, 2026, View Source [SID1234663522])

On March 12, 2026 Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, reported the publication of the PREDICT-DNA study in the Journal of Clinical Oncology. The article, "The Pathologic Response Evaluation and Detection In Circulating Tumor-DNA (PREDICT-DNA) study: Ultrasensitive ctDNA Assessment of Breast Cancer Minimal Residual Disease," showed that ultrasensitive molecular residual disease (MRD) testing with NeXT Personal can perform better than current standard approaches in predicting patient outcomes following neoadjuvant therapy (NAT).

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The prospective study followed 227 patients with Triple-Negative (TNBC) and HER2+ breast cancer across more than 24 leading US cancer centers. The results demonstrate the ability of NeXT Personal to provide a more precise risk-stratification for patients who have received NAT.

A key finding of the study was the necessity of the ultrasensitive range for accurately tracking patient response to neoadjuvant therapy. Of note, 55% of all ctDNA detections following NAT occurred at levels below 100 parts per million, detections that could be missed with less sensitive tests.

"Many breast cancer patients receive neoadjuvant therapy as standard of care, prior to surgery. The results of this study suggest that an ultrasensitive ctDNA assay like NeXT Personal could help patients better understand their response to neoadjuvant therapy, with the potential to help inform the need for additional therapy," said Richard Chen, MD, Chief Medical Officer and Executive Vice President, R&D at Personalis. "The publication of this data is important as we look to expand reimbursement and improve the tools used in neoadjuvant monitoring."

Key study highlights include:

High Prognostic Power: Detectable ctDNA post-NAT was associated with a 4 to 9 times higher likelihood of relapse.
Superior to Traditional Metrics: In multivariate analyses, ctDNA status was the most significant independent prognostic signal, performing better than nodal status, tumor grade, and pathologic complete response (pCR) status. In addition, ctDNA detection post-NAT was a stronger predictor of recurrence than pCR status.
Identification of Low Risk: Patients who were ctDNA-negative post-NAT showed excellent outcomes, regardless of pCR status.
Post-Surgical Relapse Prediction: Patients with detectable ctDNA up to 12 months post-surgery were more than 100 times more likely to experience disease recurrence.
"We partnered with Personalis because their technology offers a level of sensitivity down to 1 to 3 parts per million that allows for a higher cancer detection rate," said Dr. Ben Park, MD, PhD, Director of the Vanderbilt-Ingram Cancer Center. "The PREDICT-DNA results show that if a patient clears their ctDNA, their outcomes are excellent even if residual disease is found at surgery. Conversely, detectable ctDNA signals a very high risk. These insights allow us to more precisely risk-stratify breast cancer patients in future trials and clinical practice."

The findings reinforce the NeXT Personal test’s ability to detect ctDNA at ultrasensitive levels, providing a window for earlier clinical intervention that other approaches may miss. The NeXT Personal test achieves ultrasensitive detection of small traces of ctDNA from a patient’s blood sample using a personalized approach that tracks up to ~1,800 tumor-specific variants unique to each patient’s tumor.

(Press release, Personalis, MAR 12, 2026, View Source [SID1234663521])