Arbutus Reports First Quarter 2025 Financial Results and Provides Corporate Update

On May 14, 2025 Arbutus Biopharma Corporation (Nasdaq: ABUS) ("Arbutus" or the "Company"), a clinical-stage biopharmaceutical company focused on infectious disease, reported first quarter 2025 financial results and provided a corporate update (Press release, Arbutus Biopharma, MAY 14, 2025, View Source [SID1234653051]).

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"To date, eight patients have reached functional cure following imdusiran combination therapy. Of particular note, two of those functional cure patients did not receive any interferon during the trial," said Lindsay Androski, President and CEO of Arbutus. "There are more than 250 million people suffering from cHBV globally. This type of functional cure data, in patients who successfully discontinued all cHBV treatments including NUCs, is an exciting milestone for Arbutus, clinicians, and patients.

"In addition, our oral PD-L1 inhibitor, AB-101, achieved 100% receptor occupancy in 11 of 13 evaluable healthy volunteers in our Phase 1a/1b clinical trial at the 40 mg dose. The trial continues in cHBV patients, and across all cohorts there have been no AB-101-related SAEs and no evidence of liver dysfunction to date.

"Lastly, I am pleased to announce that Andrew Sung has joined Arbutus as General Counsel. Andrew brings a wealth of life sciences deal experience, from collaboration and licensing agreements to large M&A transactions and is an important and valuable addition to our team."

2025 Clinical Development Milestones

Imdusiran (AB-729)

At the European Association for the Study of the Liver (EASL) Congress 2025, the Company presented two posters with data from the IM-PROVE I Phase 2a clinical trial that evaluated imdusiran with nucleos(t)ide analogue (NA) therapy and pegylated interferon alfa-2a (IFN). One poster characterized the demographics and virological markers of six cHBV patients who achieved functional cure. The data showed that HBsAg at baseline was the only apparent marker in common associated with functional cure. In a second poster, the Company reported that patients who achieved functional cure in the 24-week IFN treatment cohorts experienced HBsAg loss that was associated with transient HBV RNA elevations that were preceded by or coincided with increases in immunological markers.
Also at EASL, the Company presented a poster in the late-breaker session with data from the IM-PROVE II Phase 2a clinical trial that evaluated imdusiran, ongoing NA therapy and Barinthus Biotherapeutics’ VTP-300, with or without low dose nivolumab. The data showed that 25% (2/8) of the patients who had baseline HBsAg <1000 IU/mL and received the addition of low dose nivolumab to the treatment regimen reached functional cure.
To date, the Company has reported a total of eight patients with cHBV who have been functionally cured following treatment with imdusiran and ongoing NA therapy in combination with either IFN or nivolumab plus an immunotherapeutic. Two of the eight patients received no IFN as part of the combination therapy. Seven of the eight patients who achieved functional cure had HBsAg <1000 IU/mL at baseline. According to the literature, patients with HBsAg levels <1000 IU/mL represent a significant portion of the cHBV population.
AB-101 (oral PD-L1 inhibitor)

AB-101-001 is a Phase 1a/1b double-blind, randomized, placebo-controlled clinical trial designed to investigate the safety, tolerability, pharmacokinetics, and pharmacodynamics of single- and multiple-ascending doses of AB-101, the Company’s oral PD-L1 inhibitor, in healthy subjects and patients with cHBV.
Data from Part 1 and Part 2 of this clinical trial which evaluated single- and multiple-ascending doses of AB-101 in healthy subjects showed that AB-101 was well-tolerated with evidence of dose-dependent receptor occupancy. In Part 1, all five evaluable subjects in the 40mg cohort showed evidence of 100% receptor occupancy. In Part 2, all subjects in the 40mg cohort showed evidence of high receptor occupancy between 74-100%, with six of the eight subjects demonstrating 100% receptor occupancy during the seven-day dosing period. Across Parts 1 and 2, eleven of the thirteen evaluable healthy subjects that received either single or multiple doses of 40mg of AB-101 achieved 100% receptor occupancy.
At EASL, the Company presented a poster with data from Part 3 of the clinical trial showing that 10mg of AB-101 once daily for 28 days was also well tolerated in patients with cHBV, with PD-L1 receptor occupancy similar to that observed in healthy volunteers who received multiple doses of AB-101 10mg once daily.
There were no serious adverse events or early discontinuations due to AB-101 and no evidence of liver dysfunction across the cohorts presented.
Part 3 of this clinical trial is ongoing.
LNP Litigation

Arbutus continues to consult closely with and support our exclusive licensee, Genevant Sciences, to protect and defend Arbutus’s intellectual property, which is the subject of on-going lawsuits against Moderna and Pfizer/BioNTech. The Company, together with Genevant, is seeking fair compensation for Moderna’s and Pfizer/BioNTech’s use of Arbutus’s patented LNP technology that was developed with great effort and at a great expense, and without which Moderna’s and Pfizer/BioNTech’s COVID-19 vaccines would not have been successful.
The claim construction hearing for the lawsuit against Pfizer/BioNTech occurred in December 2024. The court is expected to provide its ruling on the claim construction and issue a further scheduling order in 2025.
The jury trial in the Moderna U.S. litigation is scheduled for September 29, 2025. Expert discovery has concluded and the case is entering the summary judgment stage. In March 2025, the Company, alongside Genevant Sciences, filed five international lawsuits against Moderna and its affiliates seeking to enforce patents protecting the Company’s patented LNP technology across 30 countries. In the Unified Patent Court, Moderna’s Statement of Defense is due on July 8, 2025.
Corporate Updates

In April, the Company hired Andrew J. Sung as General Counsel. Mr. Sung brings over 20 years of legal experience representing and advising companies on corporate matters, intellectual property, compliance, contracting, litigation and employment issues. Mr. Sung, an MIT-trained chemist, has conducted multiple life sciences transactions including over $24 billion of M&A deals and licensing and collaboration agreements exceeding $4 billion in potential payments. Prior to Arbutus, Mr. Sung served as General Counsel of Harmonix Music Systems, Inc. for several years, leading the company’s sale to Epic Games, Inc., where he continued through the post-merger integration and transition. Mr. Sung was previously a Life Sciences Corporate Associate at Ropes & Gray LLP and a Senior Consultant in the Life Sciences practice at Cap Gemini Ernst & Young. Mr. Sung earned his J.D. from Harvard Law School and his B.S in Chemistry from the Massachusetts Institute of Technology.
Financial Results

Cash, Cash Equivalents and Investments

As of March 31, 2025, the Company had cash, cash equivalents and investments in marketable securities of $112.7 million compared to $122.6 million as of December 31, 2024. During the quarter ended March 31, 2025, the Company used $13.4 million in operating activities, which was partially offset by $2.7 million of proceeds from the exercise of employee stock options.

Revenue

Total revenue was $1.8 million for the quarter ended March 31, 2025, compared to $1.5 million for the same period in 2024. The increase of $0.3 million was due to an increase in revenue recognition of the upfront license fee received in 2022 from Qilu, the Company’s collaboration partner in China, Hong Kong, Macau and Taiwan, partially offset by a decrease in license royalty revenues in the 2025 period compared to the same period in 2024 due to a decrease in Alnylam’s sales of ONPATTRO.

Operating Expenses

Research and development expenses were $9.0 million for the quarter ended March 31, 2025 compared to $15.4 million for the same period in 2024. The decrease of $6.4 million was due primarily to cost savings from the Company’s decision in August 2024 to streamline the organization to focus its efforts on advancing the clinical development of imdusiran and AB-101, which included ceasing all discovery efforts, discontinuing its IM-PROVE III clinical trial and reducing the Company’s workforce.

General and administrative expenses were $5.8 million for the quarter ended March 31, 2025, compared to $5.3 million for the same period in 2024. This increase was due primarily to an increase in litigation-related legal fees, partially offset by a decrease in employee compensation-related expenses.

Restructuring costs in the quarter ended March 31, 2025 were $12.4 million, consisting of: (i) $6.0 million of cash severance and benefits; (ii) $2.3 million of non-cash stock-based compensation expenses for employee equity award modifications; and (iii), in connection with the decision to exit its corporate headquarters, (a) $3.8 million of non-cash impairment charges for laboratory equipment, leasehold improvements and its right-of-use asset and (b) $0.4 million of lease-related cash operating expenses. Substantially all of the termination severance payments and other employee benefits costs are expected to be paid during the second quarter of 2025, with the remainder to be paid in the second half of 2025.

Net Loss

For the quarter ended March 31, 2025, the Company’s net loss was $24.5 million, or a loss of $0.13 per basic and diluted common share, as compared to a net loss of $17.9 million, or a loss of $0.10 per basic and diluted common share, for the quarter ended March 31, 2024.

Outstanding Shares

As of March 31, 2025, the Company had 191.5 million common shares issued and outstanding, as well as 15.2 million stock options and unvested restricted stock units outstanding. Roivant Sciences Ltd. owned approximately 20% of the Company’s outstanding common shares as of March 31, 2025.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS
(in thousands, except share and per share data)

Three Months Ended March 31,
2025 2024
Revenue
Collaborations and licenses $ 1,316 $ 939
Non-cash royalty revenue 448 593
Total revenue 1,764 1,532
Operating expenses
Research and development 8,959 15,403
General and administrative 5,832 5,312
Change in fair value of contingent consideration 299 180
Restructuring costs 12,373 —
Total operating expenses 27,463 20,895
Loss from operations (25,699) (19,363)
Other income (loss)
Interest income 1,197 1,545
Interest expense (28) (44)
Foreign exchange gain/(loss) 4 (13)
Total other income 1,173 1,488
Net loss $ (24,526) $ (17,875)
Net loss per common share
Basic and diluted $ (0.13) $ (0.10)
Weighted average number of common shares
Basic and diluted 190,707,085 175,625,552

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

March 31,
2025 December 31,
2024
Cash, cash equivalents and marketable securities, current $ 112,707 $ 122,623
Accounts receivable and other current assets 4,101 4,693
Total current assets 116,808 127,316
Property and equipment, net of accumulated depreciation 168 3,309
Right of use asset — 1,048
Other non-current assets 34 34
Total assets $ 117,010 $ 131,707

Accounts payable and accrued liabilities $ 12,109 $ 7,564
Deferred license revenue, current 6,759 7,571
Lease liability, current 563 483
Total current liabilities 19,431 15,618
Liability related to sale of future royalties 4,409 4,829
Deferred license revenue, non-current 2,863 2,863
Contingent consideration 10,524 10,225
Lease liability, non-current 626 806
Total stockholders’ equity 79,157 97,366
Total liabilities and stockholders’ equity $ 117,010 $ 131,707

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

Three Months Ended March 31,
2025 2024
Net loss $ (24,526) $ (17,875)
Non-cash items 5,866 1,439
Change in deferred license revenue (812) (244)
Other changes in working capital 6,081 (2,615)
Net cash used in operating activities (13,391) (19,295)
Net cash provided by investing activities 11,349 11,694
Issuance of common shares pursuant to the Open Market Sale Agreement — 21,765
Cash provided by other financing activities 2,784 2,665
Net cash provided by financing activities 2,784 24,430
Effect of foreign exchange rate changes on cash and cash equivalents 4 (13)
Increase in cash and cash equivalents 746 16,816
Cash and cash equivalents, beginning of period 36,330 26,285
Cash and cash equivalents, end of period 37,076 43,101
Investments in marketable securities 75,631 94,816
Cash, cash equivalents and marketable securities, end of period $ 112,707 $ 137,917

About Imdusiran (AB-729)  

Imdusiran is an RNAi therapeutic specifically designed to reduce all HBV viral proteins and antigens including hepatitis B surface antigen, which is thought to be a key prerequisite to enable reawakening of a patient’s immune system to control the virus. Imdusiran targets hepatocytes using Arbutus’ novel covalently conjugated N-Acetylgalactosamine (GalNAc) delivery technology enabling subcutaneous delivery. To date, Arbutus has reported a total of eight patients with cHBV who have achieved a functional cure following treatment with imdusiran and NA therapy in combination with either IFN or low dose nivolumab plus an immunotherapeutic. Clinical data generated thus far has shown imdusiran to be generally safe and well-tolerated, while also providing meaningful reductions in hepatitis B surface antigen and hepatitis B DNA.

About AB-101  

AB-101 is an oral PD-L1 inhibitor candidate that is designed to allow for controlled checkpoint blockade while minimizing the systemic safety issues typically seen with checkpoint antibody therapies. Immune checkpoints such as PD-1/PD-L1 play an important role in the induction and maintenance of immune tolerance and in T-cell activation, for example against HBV. In Arbutus’ ongoing Phase 1a/1b clinical trial, AB-101 has been generally safe and well-tolerated with evidence of high receptor occupancy.

About HBV  

Hepatitis B is a potentially life-threatening liver infection caused by the hepatitis B virus (HBV). HBV can cause chronic infection which leads to a higher risk of death from cirrhosis and liver cancer. Chronic HBV infection represents a significant unmet medical need. The World Health Organization estimates that over 250 million people worldwide suffer from chronic HBV infection, while other estimates indicate that approximately 2 million people in the United States suffer from chronic HBV infection. Approximately 1.1 million people die every year from complications related to chronic HBV infection despite the availability of effective vaccines and current treatment options.

Aptose Selected for Prestigious Oral Presentation of Data from TUSCANY Phase 1/2 Clinical Trial of Tuspetinib Triplet Therapy in Newly Diagnosed AML at the 2025 EHA Congress

On May 14, 2025 Aptose Biosciences Inc. ("Aptose" or the "Company") (TSX: APS; OTC: APTOF), a clinical-stage precision oncology company, reported that data from its Phase 1/2 TUSCANY trial in newly diagnosed patients treated with tuspetinib (TUS) in combination with standard of care dosing venetoclax and azacitidine (TUS+VEN+AZA triplet) has been selected for oral presentation at the European Hematology Association (EHA) (Free EHA Whitepaper) Congress (EHA 2025), being held June 12-15, 2025, in Milan, Italy (Press release, Aptose Biosciences, MAY 14, 2025, View Source [SID1234653050]).

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The TUS+VEN+AZA triplet is being developed as the only safe and mutation agnostic frontline therapy to treat large, mutationally diverse populations of newly diagnosed AML patients who are ineligible to receive induction chemotherapy. As reported prior, the first two dose cohorts at 40 mg of TUS or 80 mg of TUS in the TUS+VEN+AZA triplet, have demonstrated safety, complete remissions, and MRD negativity across patients with diverse mutations, including TP53-mutated/CK AML and FLT3-wildtype AML patients. The oral presentation at EHA (Free EHA Whitepaper) will include updated safety, complete remission, minimal residual disease (MRD) clinical findings, and longer duration of follow-up.

Details of the presentation are as follows:
Title: TUSCANY Study of Safety and Efficacy of Tuspetinib Plus Standard of Care Venetoclax and Azacitidine in Study Participants with Newly Diagnosed AML Ineligible for Induction Chemotherapy
Session: Oral Presentations: Acute Myeloid Leukemia – Clinical
Session Date and Time: Thursday, June 12, 2025, 5:00 – 6:15 pm CEST
Presenter: Dr. Gabriel Mannis, Associate Professor of Medicine, Stanford University School of Medicine
Abstract #: S139

Abstracts are available on the EHA (Free EHA Whitepaper)2025 website here.

TUSCANY: TUS+VEN+AZA Triplet Phase 1/2 Study

The tuspetinib-based TUS+VEN+AZA triplet therapy is being advanced in the TUSCANY Phase 1/2 clinical study with the goal of creating an improved frontline therapy for newly diagnosed AML patients that is active across diverse AML populations, durable, and well tolerated. Earlier APTIVATE trials of TUS as a single agent and in combination as TUS+VEN demonstrated favorable safety and broad activity in diverse relapsed or refractory (R/R) AML populations that went beyond the more prognostically favorable NPM1 and IDH mutant subgroups. Indeed, responses were also in R/R AML patients with highly adverse TP53 and RAS mutations, and those with mutated or unmutated (wildtype) FLT3 genes.

The TUSCANY Phase 1/2 study, being conducted at 10 leading U.S. clinical sites by elite clinical investigators, is designed to test various doses and schedules of TUS in combination with standard dosing of AZA and VEN for patients with AML who are ineligible to receive induction chemotherapy. A convenient, once daily oral agent, TUS is being administered in 28-day cycles. Multiple U.S. sites are enrolling in the TUSCANY trial with anticipated enrollment of 18-24 patients by mid-late 2025. Data will be released as it becomes available.

More information on the TUSCANY Phase 1/2 study can be found on www.clinicaltrials.gov (here).

Aprea Therapeutics Reports First Quarter 2025 Financial Results and Provides a Clinical Update

On May 14, 2025 Aprea Therapeutics, Inc. (Nasdaq: APRE) ("Aprea", or the "Company"), a clinical-stage biopharmaceutical company developing innovative treatments that exploit specific cancer cell vulnerabilities while minimizing damage to healthy cells, reported financial results for the first quarter ended March 31, 2025, and provided a business update (Press release, Aprea, MAY 14, 2025, View Source [SID1234653049]).

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"2025 is off to a strong start with significant clinical progress across both of our lead therapeutic candidates," said Oren Gilad, Ph.D., President and Chief Executive Officer of Aprea. "In our ongoing ATRN-119 clinical program, three patients in the latest twice daily cohort demonstrated stable disease, with tumor shrinkage of 7%, 14% and 21%, marking early evidence of single agent, anti-tumor activity. Notably, these encouraging results were achieved at a dose level below the recommended Phase 2 dose, reinforcing our belief in ATRN-119’s potential to address the urgent needs of patients with DDR-deficient cancers. As we progress to a dose level where clinical activity is emerging, our focus is shifting toward RP2D selection. Enrollment also continues in the ACESOT-1051 trial of our WEE1 inhibitor, APR-1051, and we expect to report preliminary efficacy data in the second half of 2025. At Aprea, we aim to redefine what is possible for patients with limited treatment options and we see ATRN-119 and APR-1051 as important clinical assets that may help us achieve this goal."

Key Business Updates and Potential Upcoming Key Milestones

ACESOT-1051: A Biomarker Focused, Phase 1 Trial of Oral WEE1 inhibitor, APR-1051

APR-1051 is a potent and selective small molecule WEE1 inhibitor designed to potentially solve tolerability challenges of the WEE1 class and may achieve greater clinical activity than other programs currently in development. Aprea is advancing APR-1051 as monotherapy in cancers with well-defined biomarkers that may predict sensitivity to WEE1 inhibition. Among these, cancers over-expressing Cyclin E represent a high unmet medical need. Patients with Cyclin E over-expression have poor prognosis and, currently, lack effective therapies options.
Patients are now being enrolled into the 100 mg QD dose level in the ACESOT-1051 (A Multi-Center Evaluation of WEE1 Inhibitor in Patients with Advanced Solid Tumors, APR-1051) Phase 1 clinical trial evaluating single-agent APR-1051 in advanced solid tumors harboring cancer-associated gene alterations. Given the encouraging tolerability profile to date, we are in a position to accelerate dose escalation and explore higher doses, potentially improving APR-1051 therapeutic impact. Informed by pharmacokinetic (PK) data, the dose escalation in ACESOT-1051 has been revised to get to potential therapeutic levels of drug earlier. After successfully clearing the 100 mg once-daily dose level, patients in the next cohort are expected to be dosed at 150 mg. The first patient at the 70 mg once-daily dose level had HPV+ head and neck squamous cell carcinoma (HNSCC), in line with a clinical strategy to include populations most likely to benefit from WEEI inhibition.
The primary objectives of ACESOT-1051 are to assess safety, dose-limiting toxicities (DLTs), maximum tolerated dose or maximum administered dose (MTD/MAD), and determine recommended Phase 2 dose (RP2D); secondary objectives are to evaluate pharmacokinetics and preliminary efficacy according to RECIST or PCWG3 criteria; pharmacodynamic parameters are exploratory objectives.
Preliminary safety and efficacy data from the ACESOT-1051 study are anticipated in the second half of 2025, with completion of the dose-escalation phase expected in the first half of 2026. Aprea intends to submit an abstract to a major oncology conference.
For more information, refer to ClinicalTrials.gov NCT06260514.
ABOYA-119: Ongoing Clinical Trial Evaluating ATR inhibitor, ATRN-119

ATRN-119 is a potent and highly selective first-in-class macrocyclic ATR inhibitor, designed and developed, to be used in patients with mutations in DDR-related genes. Cancers with mutations in DDR-related genes represent a high unmet medical need. These patients often have a poor prognosis and currently lack effective therapeutics options.
ATRN-119 is being evaluated in the open-label Phase 1/2a clinical trial (ABOYA-119) as monotherapy in patients with advanced solid tumors having at least one mutation in a defined panel of DDR-related genes.
Six patients have demonstrated stable disease to date, with three patients in the 550 mg twice daily cohort showing tumor shrinkage of 7%, 14% and 21%. The individual results include:
A female patient with leiomyosarcoma harboring RB1/ATM mutations achieved a 21% tumor reduction at her first follow-up scan after two months of therapy.
A male patient with acinar cell carcinoma of the pancreas harboring ATM mutation experienced a 14% tumor reduction at his first follow-up scan.
A female patient with ovarian cancer harboring BRIP1 mutation showed a 7% tumor reduction at her first follow-up scan.
Importantly, these results were observed at a dose level that is below the recommended Phase 2 dose, as dose escalation continues in the trial.

Preliminary safety and efficacy data from ABOYA-119 are expected in the second half of 2025 and RP2D is expected to be identified in the first half of 2026. For more information on ABOYA-119, please refer to clinicaltrials.gov NCT04905914.
Material Transfer Agreement with MD Anderson Cancer Center

In March 2025, Aprea entered into a Material Transfer Agreement (MTA) with MD Anderson Cancer Center. Aprea has agreed to supply APR-1051 to support preclinical research aimed at exploring its potential in treating HPV+ and HPV- head and neck squamous cell carcinoma (HNSCC) expressing genomic markers of replication stress.
The agreement will enable the research group at MD Anderson to conduct a series of pre-clinical experiments designed to generate preliminary efficacy and mechanistic data to support future clinical trials and treatment regimens. The project is being overseen by Professors Jeffrey N. Myers, M.D., Ph.D., F.A.C.S., and Abdullah A. Osman, Ph.D., both from the Department of Head and Neck Surgery, MD Anderson Cancer Center. Prof. Myers is the leading expert on head and neck cancers.
Select Financial Results for the First Quarter Ended March 31, 2025

As of March 31, 2025, the Company reported cash and cash equivalents of $19.3 million compared to $22.8 million as of December 31, 2024. The Company believes its cash and cash equivalents as of March 31, 2025 will be sufficient to meet its currently projected operating expenses and capital expenditure requirements into early second quarter of 2026.
For the first quarter ended March 31, 2025, the Company reported an operating loss of $4.1 million, compared to an operating loss of $3.1 million in the first quarter of 2024.
Research and Development (R&D) expenses were $2.5 million for the quarter ended March 31, 2025, compared to $1.6 million for the first quarter of 2024. The increase in R&D expense was primarily related to the initiation of our second clinical trial program for APR-1051, our small molecule WEE1 inhibitor, and the ABOYA-119 clinical trial to evaluate ATRN-119, our clinical-stage oral small molecule inhibitor of ATR.
General and Administrative (G&A) expenses were $1.8 million for the quarter ended March 31, 2025, compared to $1.9 million for the first quarter of 2024.
The Company reported a net loss of $3.9 million ($0.66 per basic share) on approximately 6.0 million weighted-average common shares outstanding for the quarter ended March 31, 2025, compared to a net loss of $2.8 million ($0.67 per basic share) on approximately 4.2 million weighted average common shares outstanding for the comparable period in 2024.

Agios to Highlight Pyruvate Kinase Activation Portfolio with New Data in Rare Blood Disorders at 30th EHA Congress

On May 14, 2025 Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), a leader in cellular metabolism and pyruvate kinase (PK) activation pioneering therapies for rare diseases, reported that new data on the company’s PK activators, mitapivat and tebapivat, will be featured in oral and poster presentations during the 30th European Hematology Association (EHA) (Free EHA Whitepaper) Congress (EHA 2025) in Milan, Italy, June 12-15, 2025 (Press release, Agios Pharmaceuticals, MAY 14, 2025, View Source [SID1234653048]).

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"The clinical results and scientific insights being presented at EHA (Free EHA Whitepaper) add to the robust body of efficacy and safety data demonstrating the promise of PK activation in treating both adults and children with rare blood disorders," said Sarah Gheuens, M.D., Ph.D., Chief Medical Officer and Head of R&D, Agios. "The presentations span serious conditions with limited or no treatment options, including sickle cell disease, thalassemia, PK deficiency, and myelodysplastic syndromes, offering meaningful results that highlight the therapeutic potential of mitapivat and tebapivat. We look forward to this important opportunity to share these new data and strengthen our collaboration with the global hematology community at EHA (Free EHA Whitepaper)."

Select presentations and publications at EHA (Free EHA Whitepaper) 2025 will include:

An oral presentation of results from the ACTIVATE-KidsT Phase 3 study of mitapivat in children aged 1 to <18 years with PK deficiency who are regularly transfused. The study showed a clinically meaningful reduction in transfusion burden with mitapivat, with a higher proportion of patients achieving the primary endpoint of transfusion reduction response compared to placebo, though the prespecified statistical criterion was not met. Safety results were consistent with the safety profile for mitapivat previously observed in adults with PK deficiency who are regularly transfused. The ACTIVATE-KidsT study, along with the positive ACTIVATE-Kids Phase 3 trial, represents the successful execution of Agios’ first pediatric clinical program.
An oral presentation of long-term data from the investigator-led ESTIMATE Phase 2 trial, an open-label study investigating mitapivat in patients with sickle cell disease. In the study, mitapivat showed sustained efficacy and tolerability over three years, including improvements in anemia, hemolysis, painful vaso-occlusive crises, and markers of kidney damage.
A poster presentation with preclinical data demonstrating that tebapivat reduced red blood cell sickling and adhesion in blood samples from sickle cell disease patients, highlighting its therapeutic potential in this patient population.
A preclinical publication examining expression patterns of PKM2, an isoform (or variant) of the PK enzyme. The study found that, compared with healthy controls, patients with myelodysplastic syndromes (MDS) have significantly reduced PKM2 expression in CD34+ hematopoietic stem cells, which may be implicated in the development of MDS. These findings further support the ongoing investigation of tebapivat in lower-risk MDS, as it activates PKM2 in addition to PKR (the PK isoform found in red blood cells).
In total, 14 presentations and publications led by Agios and external collaborators will be shared at EHA (Free EHA Whitepaper) 2025.

EHA 2025 Accepted Abstracts

Title Number Date/Time Presenter Acceptance
Thalassemia
Overall survival and morbidity among adults with thalassemia in England: A retrospective analysis using routinely collected healthcare data from 2008 to 2020 PS2183

Saturday, June 14, 2025, 6:30 – 7:30 PM CEST

Khaled M. Musallam, M.D., Ph.D., Burjeel Medical City, Abu Dhabi, United Arab Emirates

Poster
Impact of non-transfusion-dependent thalassemia on adult patients’ health-related quality of life and work productivity: A multi-region real-world survey PF1192

Friday, June 13, 2025, 6:30 – 7:30 PM CEST

Khaled M. Musallam, M.D., Ph.D., Burjeel Medical City, Abu Dhabi, United Arab Emirates

Poster
ENERGIZE-T/ENERGIZE: Roxyscan assesses pyruvate kinase activator’s effect on oxidative stress sensitivity in β-thalassemia patients PS2192

Saturday, June 14, 2025, 6:30 – 7:30 PM CEST

Eduard J. van Beers, M.D., Ph.D., University Medical Center of Utrecht, Netherlands Poster
Understanding health literacy among patients with thalassemia: Initial key learnings from a global patient survey by the Thalassemia Advocacy Advisory Council PB3545

N/A Maria Domenica Cappellini, M.D., University of Milan, Italy Publication
Sickle Cell Disease
Three-year safety, efficacy, and renal outcomes of mitapivat treatment in sickle cell disease: Results from a phase 2, open-label study S299

Thursday, June 12, 2025, 5:00 – 6:15 PM CEST Geoffrey Kuppens, University Medical Center Utrecht, Netherlands

Oral
Patient-reported vaso-occlusive events, their associated pain severity, and impact of sickle cell disease on fatigue and quality of life: A real-world survey in the United States PS2179

Saturday, June 14, 2025, 6:30 – 7:30 PM CEST

Oladipo Cole, M.D., University of Connecticut Health Center

Poster
Optimizing hydroxyurea therapy in sickle cell disease: Insights from metabolite detection, treatment response and clinical outcomes* PF1176

Friday, June 13, 2025, 6:30 – 7:30 PM CEST

Sigrid van der Veen, University Medical Center Utrecht, Netherlands

Poster
Ex-vivo activation of pyruvate kinase by tebapivat reduces sickling and red blood cell adhesion in sickle cell disease PS2170

Saturday, June 14, 2025, 6:30 – 7:30 PM CEST

Minke Rab, M.D., Ph.D., University Medical Center Utrecht, Netherlands

Poster
Pyruvate Kinase Deficiency
Efficacy and safety of mitapivat in pediatric patients with pyruvate kinase deficiency who are regularly transfused: Results from the phase 3 randomized global placebo-controlled ACTIVATE-KidsT trial S296 Thursday, June 12, 2025, 5:00 – 6:15 PM CEST Rachael F. Grace, M.D., MMSc; Dana-Farber/Boston Children’s Cancer and Blood Disorder Center, Harvard Medical School Oral
Cardiac magnetic resonance observations in a patient with pyruvate kinase deficiency and beta-thalassemia trait treated with mitapivat – a case report PB3570 N/A Paolo Ricchi, M.D., Ph.D., Center for Rare Red Blood Cell Diseases, AORN A. Cardarelli, Naples, Italy Publication
Myelodysplastic Syndromes
PKM and PKLR mRNA expression in CD34+ cells derived from patients with myelodysplastic syndromes PB2748

N/A Erin Tsai, M.S., Agios Pharmaceuticals Publication
Other
SATISFY: Mitapivat in adults with erythrocyte membranopathies and congenital dyserythropoietic anemia type II: A EuroBloodNet, multicenter, single-arm, phase 2 study S297

Thursday, June 12, 2025, 5:00 – 6:15 PM CEST Thomas Doeven, M.D., University Medical Center Utrecht, Netherlands

Oral
Red blood cell age distribution and metabolic features in hereditary spherocytosis, hereditary xerocytosis and congenital dyserythropoietic anemia – baseline results of exploratory analysis from the SATISFY study PS2199

Saturday, June 14, 2025, 6:30 – 7:30 PM CEST

Richard van Wijk, Ph.D., University Medical Center Utrecht, Netherlands

Poster
PIEZO1 gain-of-function drives glycolytic imbalance in late-stage erythropoiesis: The potential of mitapivat therapy in dehydrated hereditary stomatocytosis PS2201 Saturday, June 14, 2025, 6:30 – 7:30 PM CEST Barbara Eleni Rosato, Ph.D., University of Naples, Italy Poster

*This investigator-sponsored trial is part of a larger project funded by Agios

Please refer to the EHA (Free EHA Whitepaper) 2025 online program for full session details and data presentation listings, and visit the Agios booth (#C04) onsite.

About PYRUKYND (mitapivat)
U.S. INDICATION
PYRUKYND is a pyruvate kinase activator indicated for the treatment of hemolytic anemia in adults with pyruvate kinase (PK) deficiency.

U.S. IMPORTANT SAFETY INFORMATION
Acute Hemolysis: Acute hemolysis with subsequent anemia has been observed following abrupt interruption or discontinuation of PYRUKYND in a dose-ranging study. Avoid abruptly discontinuing PYRUKYND. Gradually taper the dose of PYRUKYND to discontinue treatment if possible. When discontinuing treatment, monitor patients for signs of acute hemolysis and anemia including jaundice, scleral icterus, dark urine, dizziness, confusion, fatigue, or shortness of breath.

Hepatocellular Injury in Another Condition: In patients with another condition treated with PYRUKYND at a higher dose than that recommended for patients with PK deficiency, liver injury has been observed. These events were characterized by a time to onset within the first 6 months of treatment with peak elevations of alanine aminotransferase of >5× upper limit of normal (ULN) with or without jaundice. All patients discontinued treatment with PYRUKYND, and these events improved upon treatment discontinuation.

Obtain liver tests prior to the initiation of PYRUKYND and monthly thereafter for the first 6 months and as clinically indicated. Interrupt PYRUKYND if clinically significant increases in liver tests are observed or alanine aminotransferase is >5x ULN. Discontinue PYRUKYND if hepatic injury due to PYRUKYND is suspected.

Adverse Reactions: The most common adverse reactions including laboratory abnormalities (≥10%) in patients with PK deficiency were estrone decreased (males), increased urate, back pain, estradiol decreased (males), and arthralgia.

Drug Interactions:

Strong CYP3A Inhibitors and Inducers: Avoid concomitant use.
Moderate CYP3A Inhibitors: Do not titrate PYRUKYND beyond 20 mg twice daily.
Moderate CYP3A Inducers: Consider alternatives that are not moderate inducers. If there are no alternatives, adjust PYRUKYND dosage.
Sensitive CYP3A, CYP2B6, CYP2C Substrates Including Hormonal Contraceptives: Avoid concomitant use with substrates that have narrow therapeutic index.
UGT1A1 Substrates: Avoid concomitant use with substrates that have narrow therapeutic index.
P-gp Substrates: Avoid concomitant use with substrates that have narrow therapeutic index.
Hepatic Impairment: Avoid use of PYRUKYND in patients with moderate and severe hepatic impairment.

Please see full Prescribing Information for PYRUKYND.

ADC Therapeutics Reports First Quarter 2025 Financial Results and Provides Operational Update

On May 14, 2025 ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), reported financial results for the first quarter ended March 31, 2025, and provided recent operational updates (Press release, ADC Therapeutics, MAY 14, 2025, View Source [SID1234653047]).

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"We are encouraged by the promising LOTIS-7 abstract data, which we believe demonstrate the potential for ZYNLONTA plus glofitamab to be a best-in-class combination in a dynamic market," said Ameet Mallik, Chief Executive Officer of ADC Therapeutics. "Coupled with the progress of our LOTIS-5 confirmatory trial, we are confident in our path forward and the potential of ZYNLONTA as we pursue the substantially larger opportunity in earlier lines of DLBCL therapy."

First Quarter 2025 Operational Updates & Recent Highlights

•Abstract accepted for LOTIS-7 data presentations at EHA (Free EHA Whitepaper)2025 and ICML. As of the abstract cutoff date of January 17, 2025, 31 patients received ≥1 ZYNLONTA dose and were safety evaluable, with 22 patients evaluable for efficacy. ZYNLONTA plus glofitamab (COLUMVI) demonstrated an overall response rate (ORR) of 95.5% and complete response (CR) rate of 90.9%. Four of the efficacy evaluable patients (2 each at 120µg/kg and 150 µg/kg) converted to CR within 3 weeks after the data cutoff and are included as CRs. Twenty of 21 responders have remained in response and the median duration of response has not been reached. Manageable safety and tolerability were observed across all 31 safety evaluable patients. Updated data will be presented during a poster session on Saturday, June 14 at 12:30 p.m. ET at EHA (Free EHA Whitepaper)2025 taking place in Milan, Italy from June 12–15, 2025 and an oral presentation at ICML taking place in Lugano, Switzerland from June 17-21, 2025.
•Enrollment of 40 patients reached in LOTIS-7 dose expansion arm. Forty patients have been enrolled in the dose expansion arm of the Phase 1b clinical trial evaluating the safety and efficacy of ZYNLONTA in combination with the bispecific antibody glofitamab in patients with r/r DLBCL. The Company expects to provide an update on the LOTIS-7 trial in the second half of 2025.
•Abstract accepted for LOTIS-5 trial safety run-in data presentation at EHA (Free EHA Whitepaper)2025.
As of the abstract cutoff date of October 4, 2024, the safety run-in data included 20 patients, from LOTIS-5, a Phase 3, randomized trial of ZYNLONTA plus rituximab in patients with r/r DLBCL. Fixed treatment duration of this combination showed no new safety signals and demonstrated encouraging antitumor activity, with signs of durable responses in r/r DLBCL/HGBL patients >28 months after end of treatment. The data will be presented during a poster session on Saturday, June 14 at 12:30 p.m. ET at EHA (Free EHA Whitepaper)2025.

•LOTIS-5 remains on track to reach prespecified progression-free survival (PFS) events by end of 2025. After the prespecified number of PFS events is reached and data are available, the Company expects to provide topline data on the Phase 3 confirmatory trial evaluating ZYNLONTA in combination with rituximab in patients with 2L+ DLBCL.
•Abstract accepted for presentation of marginal zone lymphoma (MZL) data at ICML. A poster entitled, "Updated analysis of a phase 2 multicenter study of the loncastuximab in relapsed/refractory marginal zone lymphoma demonstrates high rate of complete responses" will be presented at ICML. This single-arm, open-label investigator-initiated study is being conducted at the Sylvester Comprehensive Cancer Center at University of Miami and City of Hope, and led by Izidore Lossos, MD, Professor, Director, Lymphoma Program at the Sylvester Comprehensive Cancer Center, University of Miami.
•Discontinuation of ADCT-602 trial. Based on the available clinical data, the Phase 1/2 ADCT-602 clinical trial, sponsored by The University of Texas MD Anderson Cancer Center, evaluating ADCT-602 in patients with r/r B-cell acute lymphoblastic leukemia will be discontinued.
•Preclinical programs highlighted at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2025.Data from preclinical studies of our exatecan-based ADCs targeting Claudin-6 (CLDN6), prostate-specific membrane antigen (PSMA), and Alanine, Serine, Cysteine Transporter 2 (ASCT2) were featured.

First Quarter 2025 Financial Results

•Product Revenues: ZYNLONTA generated net product revenues of $17.4 million for the first quarter of 2025 as compared to $17.8 million for the first quarter of 2024.
•License Revenues and Royalties: License revenue and royalties were $5.6 million for the first quarter of 2025 as compared to $0.2 million for the first quarter of 2024. In March 2025, the Company recognized $5.0 million in license revenue in connection with a milestone payment due upon ZYNLONTA’s approval by Health Canada for the treatment of relapsed or refractory DLBCL after two or more lines of systemic therapy.
•Research and Development (R&D) Expense: R&D expense was $28.9 million for the first quarter of 2025 as compared to $25.7 million for the first quarter of 2024. The increase is primarily attributable to a net increase in spending on our next-generation investigational ADCs.
•Selling and Marketing (S&M) Expense: S&M expense was $10.6 million for the first quarter of 2025 as compared to $11.4 million for the first quarter of 2024. The quarter-over-quarter decrease in S&M expense was primarily due to lower marketing and advertising and travel-related costs, partially offset by higher share-based compensation expense.
•General & Administrative (G&A) Expense: G&A expense was $10.0 million for the first quarter of 2025 as compared to $12.0 million for the first quarter of 2024. The quarter-over-quarter decrease in G&A expense was primarily related to lower professional fees and VAT recoveries.
•Net Loss: Net loss for the quarter ended March 31, 2025 was $38.6 million, or a net loss of $0.36 per basic and diluted share, as compared to net loss of $46.6 million, or a net loss of $0.56 per basic and diluted share for the same period in 2024. The decrease in net loss during the quarter is primarily attributable to higher license revenues and royalties and lower other expense.
•Adjusted Net Loss: Adjusted net loss, which is a non-GAAP financial measure, was $24.0 million, or an adjusted net loss of $0.22 per basic and diluted share for the quarter ended March 31, 2025 as compared to adjusted net loss of $31.1 million, or $0.38 per basic and diluted share, for the same period in 2024. The decrease in adjusted net loss during the quarter is primarily attributable to higher license revenues and royalties and lower operating expenses, as adjusted for share-based compensation.
•Cash and cash equivalents: As of March 31, 2025, cash and cash equivalents were $194.7 million, compared to $250.9 million as of December 31, 2024, a change primarily driven by the timing of payments of the annual discarded drug rebate, annual bonuses and lower cash collections and partner reimbursements. The Company currently expects its cash runway to extend into the second half of 2026.

Conference Call Details

ADC Therapeutics management will host a conference call and live audio webcast to discuss first quarter 2025 financial results and provide a company update today at 8:30 a.m. Eastern Time. To access the conference call, please register here. The participant toll-free dial-in number is 1-800-836-8184 for North America and Canada. A live webcast of the call will be available under "Events & Presentations" in the Investors section of the ADC Therapeutics website at ir.adctherapeutics.com. The archived webcast will be available for 30 days following the call.

About ZYNLONTA

ZYNLONTA is a CD19-directed antibody drug conjugate (ADC). Once bound to a CD19-expressing cell, ZYNLONTA is internalized by the cell, where enzymes release a pyrrolobenzodiazepine (PBD) payload. The potent payload binds to DNA minor groove with little distortion, remaining less visible to DNA repair mechanisms. This ultimately results in cell cycle arrest and tumor cell death.

The U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have approved ZYNLONTA (loncastuximab tesirine-lpyl) for the treatment of adult patients with relapsed or refractory (r/r) large B-cell lymphoma after two or more lines of systemic therapy, including diffuse large B-cell lymphoma (DLBCL) not otherwise specified (NOS), DLBCL arising from low-grade lymphoma and also high-grade B-cell lymphoma. The trial included a broad spectrum of heavily pre-treated patients (median three prior lines of therapy) with difficult-to-treat disease, including patients who did not respond to first-line therapy, patients refractory to all prior lines of therapy, patients with double/triple hit genetics and patients who had stem cell transplant and CAR-T therapy prior to their treatment with ZYNLONTA. This indication is approved by the FDA under accelerated approval and in the European Union under conditional approval based on overall response rate and continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial. Please see full prescribing information including important safety information about ZYNLONTA at www.ZYNLONTA.com.

ZYNLONTA is also being evaluated as a therapeutic option in combination studies in other B-cell malignancies and earlier lines of therapy.