On April 21, 2022 SCYNEXIS, Inc. (Nasdaq: SCYX) reported that it has commenced an underwritten public offering of shares of its common stock and warrants to purchase shares of its common stock, including pre-funded warrants to purchase common stock in lieu of common stock for certain purchasers (Press release, Scynexis, APR 21, 2022, View Source [SID1234612764]). SCYNEXIS intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock and warrants offered in the public offering (including shares underlying the pre-funded warrants). All of the shares of common stock and warrants in the offering will be sold by SCYNEXIS. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

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Guggenheim Securities, LLC is serving as book-running manager for the offering.

A shelf registration statement relating to the securities being sold in this offering was filed with the U.S. Securities and Exchange Commission (the "SEC") on December 31, 2020, and was declared effective on January 8, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed public offering may be obtained by contacting: Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, or by telephone at (212) 518-9544 or by email at [email protected]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On April 21, 2022 Surface Oncology (Nasdaq: SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, reported that it has been recognized by the Boston Business Journal as one of the Best Places to Work for the second year in a row (Press release, Surface Oncology, APR 21, 2022, View Source [SID1234612766]). Surface was among 20 companies selected in the "small" category with 50 to 99 Massachusetts-based employees.

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"We are thrilled to be recognized once again as one of the Best Places to Work by the Boston Business Journal," said Rob Ross, M.D., chief executive officer at Surface Oncology. "At Surface, we are moving with urgency and passion to bring important new immunotherapies to people confronting cancer, and that shared mission is what unites our team and makes this such a special place to work. We remain committed to cultivating a diverse and dynamic culture built on our core values of courage, integrity, and community."

In 2022, more than 220 businesses across healthcare, technology, commercial real estate, and other industries participated in the Best Places to Work program. Through an independent survey, employees rated areas including job satisfaction, personal engagement, level of communication and resources, teamwork, retention, alignment with goals, and manager effectiveness.

Surface will be among 80 companies honored for creating outstanding work environments at a celebration on June 16, 2022, at the Boston Park Plaza and featured in a Best Places to Work edition of the Boston Business Journal to be published on June 17, 2022.

On April 22, 2022 Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., "Astellas") reported that it will book an impairment loss in the fourth quarter of the fiscal year ended March 31, 2022 (April 1, 2021 to March 31, 2022) and the first quarter of the fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023) as follows (Press release, Astellas, APR 21, 2022, View Source [SID1234612747]).

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(1) Details of impairment loss (the fourth quarter of fiscal year 2021)
For the following reasons, Astellas will book an impairment loss of approximately ¥50 billion as other expenses in the fourth quarter of fiscal year 2021 not included in the financial forecasts (Full basis) announced on October 29, 2021.

Astellas received reports of serious adverse events in patients who participated in the ASPIRO clinical trial evaluating investigational gene therapy AT132 in patients with X-linked myotubular myopathy. In September 2021, Astellas voluntarily suspended screening and dosing. After that, Astellas received the clinical hold for the ASPIRO clinical trial from the US Food and Drug Administration (FDA). Astellas then reassessed the development plan and recognized a delay in approval timing. Astellas also revised the eligible treatment population based upon an anticipated future product label compared to our initial assessment. As a result of reevaluation of the intangible asset based on the updated assumptions, Astellas will book an impairment loss of intangible assets as other expenses.

It has decided to terminate the development of the DNA vaccine ASP2390, which is currently in Phase 1 study for house dust mite-induced allergic rhinitis patients. As a result of this termination, Astellas will book an impairment loss of intangible assets as other expenses.

It has decided to terminate the development of the GITR agonistic antibody ASP1951, which is currently in Phase 1 study for cancer patients. As a result of this termination, Astellas will book an impairment loss of goodwill as other expenses.

(2) Details of impairment loss (the first quarter of fiscal year 2022)
Based upon recent preclinical study data, the research and development of gene therapy programs AT702, AT751 and AT753 for Duchenne muscular dystrophy has been terminated. As a result of this termination, Astellas will book an impairment loss of intangible assets of $ 170 million as other expenses in the first quarter of fiscal year 2022.
Regarding (1) above, the impact from this matter is not reflected in Astellas’ consolidated financial forecasts for the fiscal year ending March 31, 2022 that were announced in October 2021. In addition to (2) above, the financial impact of this matter will be included in the announcement of financial results on April 27, 2022.

Click below for a copy of the full press release

Notice Regarding Impairment Loss for Products under Development

On April 21, 2022 ImmunoGen Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, reported that the Company will host a conference call at 8:00 a.m. ET on Friday, May 6, 2022 to discuss its first quarter 2022 operating results (Press release, ImmunoGen, APR 21, 2022, View Source [SID1234612745]). Management will also provide a brief update on the business.

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CONFERENCE CALL INFORMATION

To access the live call by phone, dial (877) 621-5803; the conference ID is 5444669. The call may also be accessed through the Investors and Media section of the Company’s website, www.immunogen.com. Following the call, a replay will be available at the same location.

On April 21, 2022 G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, will host a webcast and conference call to provide a corporate and financial update for the first quarter of 2022 on Wednesday, May 4, 2022 at 8:30 a.m. ET (Press release, G1 Therapeutics, APR 21, 2022, View Source [SID1234612742]).

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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The live call may be accessed by dialing (866) 763-6020 (domestic) or (409) 216-0626 (international) and entering the conference code: 2229795. The live and archived webcast will be available on the Events & Presentations page of View Source