On January 23, 2026 Adagene Inc. ("Adagene") (Nasdaq: ADAG), a company transforming the discovery and development of novel antibody-based therapies, reported year-end unaudited cash and cash equivalents of $74.5 million and provided a business update.

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2025 Key Accomplishments:

· Phase 1b/2 trial results with muzastotug in MSS CRC at ASCO (Free ASCO Whitepaper): Shared updated data from 10 mg/kg and 20 mg/kg cohorts at ASCO (Free ASCO Whitepaper) 2025, demonstrating a favorable safety profile at 10-20x times higher dosing than first generation CTLA-4 inhibitors. Encouraging overall response rates and durable responses suggest potential for long-term survival benefit.

· FDA Fast Track designation for muzastotug in combination with Merck’s (known as MSD outside of the United States and Canada) anti-PD-1 therapy, KEYTRUDA (pembrolizumab), for adult patients with microsatellite stable metastatic colorectal cancer (MSS CRC) without current or active liver metastases.

· Regulatory alignment with FDA End-of-Phase 1 meeting, clarifying dose selection, trial design, patient population and endpoints for Phase 2 and Phase 3 with muzastotug.

· Initiated randomized Phase 2 dose-optimization study with muzastotug; first patient dosed in October 2025.

· Strategic Partnerships and Collaborations:

o Sanofi: Secured a strategic investment of up to $25 million to support muzastotug’s randomized Phase 2 study. Separately, Adagene will supply Sanofi with muzastotug to evaluate the safety, efficacy, pharmacokinetics and biomarker data in combination with other anticancer therapies in over 100 patients in a Phase 1/2 clinical trial in advanced solid tumors. Sanofi also exercised its option for a third SAFEbody discovery program.

o Third Arc Bio: Partnered to develop two masked CD3 T cell engagers, expanding SAFEbody into next-generation T cell therapies.

o Exelixis: Advanced a third masked ADC against a solid tumor target, building on the 2021 collaboration.

o ConjugateBio: Collaborated on bispecific ADCs using Adagene-derived antibody, further demonstrating scalable platform potential.

As of December 31, 2025, the Company had unaudited cash and cash equivalents of $74.5 million, which is anticipated to provide sufficient runway until late 2027. Such amount of cash and cash equivalents is preliminary, unaudited and subject to finalization. This financial information should not be viewed as a substitute for the audited financial statements prepared in accordance with US GAAP and is not incorporated into any Adagene’s filings with the U.S. Securities and Exchange Commission.

2026 Objectives:

· Q1 2026: Data update from the ongoing Phase 1b/2 study of muzastotug + pembrolizumab in 3L+ MSS CRC, including 41 patients in the 10 mg/kg cohorts and 26 patients in the 20 mg/kg cohorts.

· Complete enrollment of the ongoing randomized Phase 2 dose-optimization study with muzastotug, which is being conducted in alignment with FDA Project Optimus, and designed to allow dose regimen selection for Phase 3.

· Provide preliminary clinical data, including pathological responses, to inform future development from investigator-initiated Phase 2 trial for neoadjuvant muzastotug + pembrolizumab in colorectal cancer.

· Provide initial clinical data from a new cohort of patients in the ongoing Phase 1b/2 study of muzastotug + pembrolizumab in combination with standard of care (fruquintinib) in MSS CRC patients.

· Share results of the clinical trial collaboration with Roche, which evaluates muzastotug in triplet combination with atezolizumab and bevacizumab in first-line treatment of locally advanced or metastatic hepatocellular carcinoma (HCC; liver cancer).

· Establish additional collaboration/licensing agreements.

Peter Luo, Ph.D., CEO and President of R&D at Adagene said, "Our strategy for muzastotug is grounded in Nobel Prize-recognized advances in regulatory T cell biology, which have fundamentally reshaped our understanding of immune suppression in cancer. We have translated these foundational insights into a clinical action plan for intratumoral T reg modulation that integrates mechanistic innovation with emerging clinical evidence and regulatory momentum. In 2026, we hope new data will demonstrate muzastotug’s broad applicability, positioning it as a potentially transformative next-generation backbone therapy that can be used in combination across multiple indications."

(Press release, Adagene, JAN 23, 2026, View Source [SID1234662186])

On January 22, 2026 Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, reported that the U.S. Food and Drug Administration (FDA) has approved Guardant360 CDx as a companion diagnostic to identify patients with BRAF V600E-mutant metastatic colorectal cancer (mCRC) who may benefit from treatment with BRAFTOVI (encorafenib) in combination with cetuximab and chemotherapy in accordance with the approved product labeling.

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The accelerated approval was supported by data from Pfizer’s Phase 3 BREAKWATER trial, which evaluated encorafenib-based regimens in previously untreated patients with BRAF-mutated metastatic colorectal cancer mCRC. The study showed that treatment with encorafenib and cetuximab plus mFOLFOX6 chemotherapy significantly improved objective response rate, progression-free and overall survival compared with standard care, underscoring the importance of early genomic testing to guide targeted therapy.

Guardant360 CDx expands access to non-invasive genomic testing for this high-risk patient population. Using a simple blood draw to detect BRAF V600E and other clinically relevant genetic alterations, the test helps clinicians quickly identify patients eligible for FDA-approved treatments, enabling timely treatment decisions when tumor tissue is unavailable, insufficient, or when rapid initiation of therapy is clinically necessary.

"This latest approval highlights the growing impact of liquid biopsy across advanced cancer care and underscores the utility of Guardant360 CDx in enabling precision therapy selection for patients with diverse, hard-to-treat tumors including aggressive colorectal cancer," said Helmy Eltoukhy, Guardant Health chairman and co-CEO. "With multiple FDA-cleared companion diagnostic claims across lung and breast cancer, and now colorectal cancer, and the ability to comprehensively profile tumor genomics from a simple blood draw, Guardant360 CDx is helping clinicians match patients to the right targeted therapies faster and more effectively."

Key highlights of the BREAKWATER trial include:

Demonstrated significant improvement in overall response rate (ORR), progression-free survival (PFS) and overall survival (OS) for patients treated with encorafenib plus cetuximab with mFOLFOX6 chemotherapy.
Guardant360 CDx enabled rapid ctDNA analysis for treatment selection and resistance monitoring.
The study supports the importance of early, comprehensive genomic profiling to improve outcomes in mCRC.
Colorectal cancer remains the second-leading cause of cancer-related deaths in the U.S., with BRAF V600E mutations present in approximately 8 to 10 percent of mCRC cases.1 The mutation is a molecularly distinct and aggressive subtype of mCRC with poor prognosis and limited treatment options. Early identification of this mutation is critical to guiding patients to more effective, targeted therapies. Guardant360 CDx offers a convenient and accessible method for detecting this actionable biomarker, especially when tissue samples are unavailable or inadequate for testing.

This latest FDA approval for Guardant 360 CDx marks the 25th companion diagnostic indication across multiple tumor types and builds on the platform’s increasing clinical utility and broad coverage by Medicare and commercial payers, representing more than 300 million covered lives.

About Guardant360 CDx

Guardant360 CDx is the first FDA-approved liquid biopsy for comprehensive genomic profiling. It detects multiple genomic alterations across all solid tumors and is approved as a companion diagnostic for therapies in non-small cell lung cancer, breast cancer, and now colorectal cancer. For more information, visit Guardant360 CDx.

(Press release, Guardant Health, JAN 22, 2026, View Source [SID1234662178])

On January 22, 2026 Ellipses Pharma Limited ("Ellipses"), a clinical-stage oncology drug development company with a pipeline of innovative programmes, reported that it has entered into a collaboration and licence agreement with Innolake Biopharm Co. Ltd ("Innolake") to develop a clinical stage first-in-class antibody drug conjugate (ADC).

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Under the partnership, Ellipses gains rights to develop a B7H3 targeted ADC with an eribulin payload (ILB-3101) worldwide excluding greater China. ILB-3101 has the potential to treat multiple tumour types and to address resistance to topoisomerase-1 based ADCs. ILB-3101 is designated as EP0028 by Ellipses.

Ellipses and Innolake will collaborate closely on the development of ILB-3101/EP0028, which is currently in a Phase 1 trial in China sponsored by Innolake. Ellipses will initiate a Phase 1 clinical trial in the US with expansion to Europe and other territories following relevant regulatory approvals.

EP0028 is an important addition to Ellipses’ clinical-stage pipeline and is the second programme Ellipses has in-licensed from an innovative biotech company based in China. The first programme, EP0031, is a next-generation selective RET inhibitor developed by Kelun Biotech, which Ellipses is currently advancing through Phase 2 trials.

Professor Sir Chris Evans, OBE, Executive Chair of Ellipses, commented: "We are delighted to bring this differentiated ADC into our pipeline. EP0028 has the potential to address unmet needs in a range of indications and further strengthens our strategy to develop Chinese originated assets in the West."

Professor Tobias Arkenau, Global Head of Drug Development and Chief Medical Officer of Ellipses, commented: "Ellipses’ decision to in-license EP0028 is a significant milestone for us in continuing our mission to develop new cancer drugs for patients with high unmet clinical needs. Our collaboration with Innolake is another great opportunity to develop innovative cancer drugs globally, robustly and at speed to serve our communities."

Mingde Xia, CEO of Innolake, commented: "This partnership is a great validation of our technology and capabilities. Having advanced ILB-3101 from early discovery through to the clinic, we are delighted to collaborate with Ellipses and look forward to bringing this innovative therapy to patients worldwide."

(Press release, Ellipses Pharma, JAN 22, 2026, View Source [SID1234662177])

On January 22, 2026 CorriXR Therapeutics, an oncology focused biotherapeutics company developing genetic medicines to overcome drug resistance in solid tumors, reported that its novel CRISPR-directed disruption of the transcription factor NRF2 can restore chemosensitivity in head and neck and esophageal squamous cell carcinoma models. The preclinical data were published in Molecular Therapy Oncology. The study, conducted in collaboration with scientists at ChristianaCare’s Gene Editing Institute (GEI), reinforces CorriXR’s previously reported data in lung cancer models and highlights how CRISPR targeting of NRF2 can disrupt tumor cells’ protective mechanisms and potentially boost patients’ bodies’ ability to respond more effectively to standard chemotherapy.

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"For patients with solid tumor cancers, once their tumors become resistant to chemotherapy, treatment options narrow and are often more toxic to them," said Eric B Kmiec, Ph.D., Founder and Chief Executive Officer of CorriXR Therapeutics and Executive Director of GEI. "These data from CorriXR’s first-in-class editing approach suggest that by precisely disrupting NRF2, we may be able to reopen the window to standard treatments and potentially do so at lower doses; this could translate into better control of disease with fewer side effects for patients."

NRF2 is a master regulator of cellular stress responses and a well-established driver of treatment resistance in multiple cancers, making it an attractive but historically "undruggable" target for therapeutic intervention. CorriXR is advancing essential studies to support an IND filing in head and neck squamous cell carcinoma (HNSCC) as a potential first clinical indication.

Head and neck cancer, 90% of which is HNSCC, is the seventh most diagnosed cancer worldwide, with annual incidence predicted to reach one million new cases by 2030. With 50% of patients experiencing recurrence within two years, there is a significant need for new approaches that can overcome resistance to current treatment paradigms. CorriXR anticipates completion of additional in vivo studies in HNSCC in combination with chemotherapy and radiation in the first half of 2026.

Study Overview

Researchers used CRISPR/Cas9 complexes to disrupt NRF2 in hypopharyngeal (FaDu) and esophageal (KYSE‑410) squamous cell carcinoma cells and then assessed gene editing outcomes, NRF2 pathway activity, and response to cisplatin and 5‑fluorouracil. Key study findings include:

High levels of on-target editing produced substantial reductions in NRF2 protein levels, decreased expression of downstream stress response genes, and significantly restored chemosensitivity.
Genetic disruption of NRF2 alone is sufficient to disrupt its ability to activate the genes that defend tumor cells.
Enhanced chemosensitivity after NRF2 disruption persisted over time, creating a treatment window for combination therapy.
The choice of CRISPR editing site on NRF2 influences both the functional impact on NRF2 and which cells are affected by the edit. Editing that disrupts a functional binding domain enables an approach that is agnostic to and independent of genetic mutations in the cancer cells.
"These findings complement previously published data from CorriXR and GEI showing that tumor-specific NRF2 editing in lung cancer models can resensitize tumors to standard chemotherapy and reduce tumor growth in vivo, thereby reinforcing NRF2 as a central node for overcoming drug resistance," said Natalia Rivera-Torres, Ph.D., lead author of the study and Associate Director of Research at GEI.

Kmiec added, "What is most encouraging about this work is that we are giving existing drugs a second chance to work in tumors that have learned how to evade them, enabling patients to benefit more, and longer, from proven regimens, with a better quality of life."

(Press release, CorriXR Therapeutics, JAN 22, 2026, View Source [SID1234662176])

On January 22, 2026 Israel Cancer Research Fund (ICRF) and the Cancer Research Institute (CRI) reported to have partnered on a new award, the ICRF-CRI Immunotherapy Collaborative Project Grant, given to Dr. Asaf Madi, PhD, of Tel Aviv University. Dr. Madi was awarded $180,000 over a three-year period to support his research on refining tumor-infiltrating lymphocyte (TIL) therapy to predict response and overcome drug resistance in melanoma.

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"We are honored to once again partner with CRI, a world-class immunotherapy research organization, on this cutting-edge project," said Alan Herman, ICRF’s Executive Director. "There is a clear, unmet need for personalized treatments like TIL therapy, and Dr. Madi’s research into adoptive cell transfer could offer new hope to melanoma patients in urgent need of better options."

Adoptive cell transfer (ACT) using TILs is a promising personalized immunotherapy for melanoma, shown to improve survival in advanced cases. However, many patients do not respond, and others develop resistance, limiting the long-term effectiveness of this approach. Dr. Madi’s research aims to address these challenges by identifying predictive biomarkers, uncovering mechanisms of tumor resistance, and optimizing TIL selection and expansion to improve therapeutic outcomes.

Dr. Madi and his team are studying the gene circuits that program immune cells, controlling their differentiation, activation, and regulation. By examining how T cells behave in tumors, particularly following immunotherapy, they aim to determine why some T cells sustain anti-tumor activity while others become exhausted or suppressed. Insights from this work will guide the selection and engineering of more potent TIL populations capable of durable tumor targeting and generating long-term immune memory, reducing the risk of cancer recurrence.

"This collaboration reflects what progress in immunotherapy really looks like—bringing together partners, data, and discovery to tackle resistance head-on," said Alicia Zhou, PhD, CEO of CRI. "By understanding why some immune cells persist while others fail, Dr. Madi’s work moves us closer to making personalized cell therapies like TILs more reliable, more durable, and more transformative for patients with melanoma."

Melanoma is the deadliest form of skin cancer. In the U.S. alone, over 100,000 new cases are diagnosed each year, and advanced melanoma can be resistant to standard treatments. Because it can spread quickly and evade therapies, developing new, effective treatments is critical to improve survival and offer hope to patients and their families worldwide.

Dr. Asaf Madi earned his Ph.D. in computational immunology at Tel Aviv University in collaboration with the Weizmann Institute of Science, studying B cell and T cell repertoires. He then completed a postdoctoral fellowship at Harvard Medical School and the Broad Institute, focusing on T-cell differentiation and cancer immunology. Dr. Madi then returned to Tel Aviv University, where he is now an Associate Professor in the Department of Pathology, leading a team that drives the development of novel anti-cancer therapies.

(Press release, Cancer Research Institute, JAN 22, 2026, View Source [SID1234662175])