On November 12, 2020 Atreca, Inc. (Atreca) (NASDAQ: BCEL), a clinical-stage biotechnology company focused on developing novel therapeutics generated through a unique discovery platform based on interrogation of the active human immune response, reported financial results for the third quarter ended September 30, 2020, and provided an overview of recent developments (Press release, Atreca, NOV 12, 2020, View Source [SID1234570739]).
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"We continued to make progress enrolling patients and activating trial sites in our Phase 1b trial of ATRC-101 during the third quarter and anticipate reporting initial summary data in the first half of 2021," said John Orwin, Chief Executive Officer. "We recently presented preclinical data at SITC (Free SITC Whitepaper) 2020 further highlighting the potential for ATRC-101 as a combination therapy with checkpoint inhibitors targeting the PD-1/PD-L1 axis. We expect to initiate combination studies with a checkpoint inhibitor as well as with chemotherapy, and to commence monotherapy expansion cohorts, in 2021."
Recent Developments and Highlights
Screening in the Phase 1b first-in-human study evaluating ATRC-101 in patients with select solid tumor cancers is ongoing, and patients are currently being enrolled in the third dose cohort. To date, seven clinical trial sites have been activated, including two additional sites in the third quarter of 2020, and Atreca expects to announce initial summary data from the study in the first half of 2021. In addition to monotherapy expansion cohorts, clinical trials of ATRC-101 in combination with a PD-1 inhibitor and in combination with a chemotherapeutic are planned for 2021.
Atreca presented two posters describing preclinical evaluations of ATRC-101 at the 35th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) (SITC 2020). The presentations provide insight into the cooperation between checkpoint inhibitors targeting the PD-1/PD-L1 axis and ATRC-101 as well as the potent single-agent activity of ATRC-101 in syngeneic mouse tumor models. Both posters are currently available on Atreca’s website.
Third Quarter 2020 Financial Results
As of September 30, 2020, cash, cash equivalents and investments totaled $259.5 million.
Research and development expenses for the three months ended September 30, 2020 were $16.8 million, including non-cash share-based compensation expense of $1.6 million.
General and administrative expenses for the three months ended September 30, 2020 were $6.6 million, including non-cash share-based compensation expense of $1.9 million.
Atreca reported a net loss of $22.9 million, or basic and diluted net loss per share attributable to common stockholders of $0.66, for the three months ended September 30, 2020.