CASI Pharmaceuticals Announces First Quarter 2021 Financial Results

On May 13, 2021 CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, reported financial results for the first quarter of 2021 (Press release, CASI Pharmaceuticals, MAY 13, 2021, View Source [SID1234579912]).

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Wei-Wu He, Ph.D., CASI’s Chairman, and Chief Executive Officer, commented, "We are pleased to report $5.7 million EVOMELA revenues for the quarter. For the full year 2021, we expect to meet our guidance of greater than 50% revenue growth. In addition to upward trend in EVOMELA revenue, our first quarter was marked by our new China partnership with Cleave Therapeutics for CB-5339, an exciting first-in-class VCP/p97 inhibitor being investigated for hematological malignancies and solid tumors. We also completed a $32.5 million capital raise at the end of March, from new fundamentally-driven, healthcare-dedicated investors, to strengthen our balance sheet."

Dr. He continued, "I am thrilled with the progress we are seeing across our hematology oncology product portfolio. With respect to our commercial asset CNCT-19 (CD19 CAR-T), our partner Juventas is making excellent progress with their current registration trials in B-NHL and B-ALL and is expecting to file NDAs in China by the end of 2021. Our CID-103 (anti-CD38 monoclonal antibody) Phase I trial remains on track with first patient dosing expected later this month, BI-1206 (anti-FcyRIIB monoclonal antibody) is on track with our China IND submission expected this year. We are excited by our momentum and will continue to execute on a number of key milestones across our broad portfolio in the quarters ahead."

First Quarter 2021 Financial Results

Revenues consisted primarily of product sales of EVOMELA that launched in August of 2019. Revenue was $5.7 million for the three months ended March 31, 2021, compared with $3.4 for the three months ended March 31, 2020.
Costs of revenues were $2.4 million for the quarter ended March 31, 2021, compared with $3.2 for the quarter ended March 31, 2020. The decrease in cost of revenues is due to the new alternate manufacturer now in place, resulting in a considerable decrease in the unit cost of inventories of EVOMELA. The decrease was partially offset by the continued growth in EVOMELA sales.
Research and development expenses for the three months ended March 31, 2021 were $5.3 million, compared with $3.0 million for the three months ended March 31, 2020. The increases in R&D expenses are primarily due to an increase in R&D expenses incurred related to the development of CID-103. Included in our research and development expenses for the three months ended March 31, 2021 are direct project costs of $3.5 million for preclinical development activities, primarily related to our CID-103 program, $0.5 million related to our ANDAs acquired in 2018, and $0.4 million for drugs in-licensed from Acrotech (previously Spectrum).
General and administrative expenses for the first quarter of 2021 were $5.5 million, compared with $4.1 million for the same period in 2020. The increase in general and administrative expenses was primarily due to an increase in headcount and payroll expenses as the Company continues to build its sales and marketing force.
Selling and marketing expenses for the first quarter 2021 were $2.7 million, compared with $1.3 for the same period in 2020.
Net loss for the first quarter of 2021 was $13.7 million compared to $8.2 million for the same period in 2020.
As of March 31, 2021, the Company had cash and cash equivalents of $68.1 million compared to $57.1million as of December 31, 2020.
Further information regarding the Company, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, can be found at www.casipharmaceuticals.com.

Conference Call

The Company will host a conference call reviewing the first quarter highlights at 8:00 a.m. ET on Thursday, May 13, 2021. On the call, CASI’s Chairman & CEO will provide an update on the Company’s business and upcoming milestones. The conference call can be accessed by dialing (833) 420-0382 (U.S.), 8008700181 (China), 58086567 (Hong Kong) to listen to the live conference call. The conference ID number for the live call is 7478587.

Atara Biotherapeutics to Participate at the Cowen Virtual Oncology Innovation Summit

On May 13, 2021 Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a pioneer in T-cell immunotherapy, leveraging its novel allogeneic EBV T- cell platform to develop transformative therapies for patients with serious diseases including solid tumors, hematologic cancers and autoimmune diseases, reported that Pascal Touchon, President and Chief Executive Officer, and AJ Joshi, M.D., Chief Medical Officer, will participate in a fireside chat at the Cowen Virtual Oncology Innovation Summit on Thursday, May 20, 2021 at 12:40 p.m. EDT (Press release, Atara Biotherapeutics, MAY 13, 2021, View Source [SID1234579911]).

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A live webcast of the presentation will be available by visiting the Investor Events and Presentations section of atarabio.com. An archived replay of the webcast will be available on the Company’s website for 30 days following the live presentation.

Fate Therapeutics Announces Encouraging Interim Phase 1 Data for iPSC-derived NK Cell Programs in Relapsed / Refractory Acute Myeloid Leukemia

On May 13, 2021 Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer, reported encouraging interim Phase 1 data from the Company’s off-the-shelf, iPSC-derived natural killer (NK) cell programs in relapsed / refractory acute myeloid leukemia (AML) (Press release, Fate Therapeutics, MAY 13, 2021, View Source [SID1234579910]). The ongoing Phase 1 dose-escalation study of FT516 as monotherapy is currently enrolling patients in the third dose cohort (900 million cells per dose), with three patients treated in the first dose cohort (90 million cells per dose) and six patients treated in the second dose cohort (300 million cells per dose). The Phase 1 dose-escalation study of FT538 as monotherapy is currently ongoing, with three patients treated in the first dose cohort (100 million cells per dose).

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As of the data cutoff date of April 16, 2021, five of 12 patients had achieved an objective response with complete leukemic blast clearance in the bone marrow (FT516 [n=9]: 3 complete remission with incomplete hematologic recovery [CRi], 1 morphologic leukemia-free state [MLFS]; FT538 [n=3]: 1 CRi). Of the four patients achieving a CRi, one patient successfully proceeded to allogeneic stem cell transplant and the other three patients remained on-study and in remission without further therapeutic intervention, two of whom remained in remission having been on-study for more than six months. Clinical assessments were based on the 2017 European LeukemiaNet (ELN) response criteria (Blood (2017) 129 (4): 424–447).

Importantly, no dose-limiting toxicities, and no cases of any grade of cytokine release syndrome, immune effector cell-associated neurotoxicity syndrome, or graft-versus-host disease, were observed. Patients had received a median of three prior lines of therapy, with 11 of 12 patients refractory to their last prior therapy. At baseline prior to conditioning chemotherapy, 11 of 12 patients had significant hematopoietic impairment, with both neutrophil counts below 1,000/µL and platelet counts below 100,000/µL.

"We are highly encouraged by these Phase 1 data in patients with relapsed / refractory AML, which clearly indicate that off-the-shelf, iPSC-derived NK cells administered as monotherapy in the outpatient setting were well-tolerated, and have the potential to induce complete leukemic blast clearance in the bone marrow and confer durable remissions without further therapeutic intervention. Complete leukemic blast clearance in the bone marrow is essential as recent studies in relapsed / refractory AML have shown that this clinical outcome results in a statistically-significant improvement in patient survival," said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics. "Additionally, we are excited that a patient receiving FT538 in the initial dose escalation cohort achieved a complete remission with incomplete hematologic recovery, and that FT538 continued to be detected in the peripheral blood at Day 8 post-infusion. This suggests that the additional engineered functionality of FT538 can augment NK cell pharmacokinetics without the need for exogenous cytokine support during patient treatment."

FT516 Phase 1 Study
FT516 is an investigational, universal, off-the-shelf NK cell cancer immunotherapy derived from a clonal engineered master induced pluripotent stem cell (iPSC) line. The Phase 1 clinical trial in relapsed / refractory AML is assessing FT516 administered as monotherapy. Up to two cycles of treatment are administered, with each cycle consisting of three days of conditioning chemotherapy followed by three weekly doses of FT516, with IL-2 cytokine support after each FT516 dose. FT516 may be administered in the outpatient setting with no requirement for inpatient monitoring during the treatment period.

Three patients in the first dose cohort of 90 million cells per dose and six patients in the second dose cohort of 300 million cells per dose were assessed for safety and activity (see Table 1). Of the nine patients, eight had adverse molecular risk based on the 2017 ELN risk category and eight patients were refractory to their last prior therapy. Patients had received a median of three prior lines of therapy. At baseline prior to conditioning chemotherapy, all nine patients were significantly cytopenic, with eight patients having neutrophil counts below 1,000/µL and nine patients having platelet counts below 100,000/µL, and the median bone marrow leukemic blast percentage was 39%.

Safety Data
No dose-limiting toxicities, and no cases of any grade of cytokine release syndrome, immune effector cell-associated neurotoxicity syndrome, or graft-versus-host disease, were observed. The multi-dose treatment schedule was well-tolerated with no treatment discontinuations due to adverse events. Three patients experienced Grade 3 febrile neutropenia, and no other FT516-related Grade 3 or greater adverse events were reported by investigators. In addition, no evidence of anti-product T- or B-cell mediated host-versus-product alloreactivity was detected, supporting the potential to safely administer up to six doses of FT516 in the outpatient setting without the need for patient matching.

Activity Data
Six of nine relapsed / refractory AML patients showed anti-leukemic activity as evidenced by on-treatment reduction in bone marrow blasts, with four patients achieving an objective response with complete clearance of leukemic blasts in the bone marrow. Three of these four responders achieved a best overall response of CRi based on 2017 ELN response criteria, including two patients in the second dose cohort (Table 1: Subjects 1006 and 1007), each of whom had ongoing remission without further therapeutic intervention at six months’ follow-up, and one patient in the first dose cohort (Table 1: Subject 1001) who successfully proceeded to allogeneic stem cell transplant.

FT538 Phase 1 Study
FT538 is an investigational, universal, off-the-shelf NK cell cancer immunotherapy derived from a clonal master iPSC line engineered with three functional components designed to enhance innate immunity. The Phase 1 clinical trial in relapsed / refractory AML is assessing FT538 administered as monotherapy. Up to two cycles of treatment are administered, with each cycle consisting of three days of conditioning chemotherapy followed by three weekly doses of FT538 without IL-2 cytokine support. FT538 may be administered in the outpatient setting with no requirement for inpatient monitoring during the treatment period.

Three patients were enrolled in the first dose cohort of 100 million cells per dose, two of whom were evaluable for safety and anti-leukemic activity and one patient who discontinued from the study prior to completion of the first treatment cycle due to clinical evidence of failure to respond to therapy (see Table 2). Of the two evaluable patients, one patient had adverse molecular risk based on the 2017 ELN risk category. Both patients had received at least three prior lines of therapy, were refractory to their last prior therapy, and were significantly cytopenic with neutrophil counts below 1,000/µL and platelet counts below 100,000/µL at baseline prior to conditioning chemotherapy.

Safety Data
No dose-limiting toxicities, and no cases of any grade of cytokine release syndrome, immune effector cell-associated neurotoxicity syndrome, or graft-versus-host disease, were observed. The multi-dose treatment schedule was well-tolerated with no FT538-related Grade 3 or greater adverse events reported by investigators. In addition, no evidence of anti-product T- or B-cell mediated host-versus-product alloreactivity was detected, supporting the potential to safely administer up to six doses of FT538 in the outpatient setting without the need for patient matching.

Activity Data
Both evaluable patients showed anti-leukemic activity as evidenced by on-treatment reduction in bone marrow blasts. One patient (Table 2: Subject 1003), who was refractory to their two most recent prior therapies (an investigational CD33-targeted tri-specific NK cell engager [TriKE], followed by glasdegib in combination with low-dose cytarabine), achieved a CRi based on 2017 ELN response criteria at the end of the first treatment cycle and remained on-study. FT538 was detected in the peripheral blood at Day 8 prior to administration of the second dose in both patients.

CRi (Complete Remission with incomplete hematologic recovery) = Bone marrow blasts <5%; absence of circulating blasts and blasts with Auer rods; absence of extramedullary disease; recovery of either neutrophils to ≥1,000/µL or platelets to ≥100,000/µL
MLFS (Morphologic Leukemia-free State) = Bone marrow blasts <5%; absence of circulating blasts and blasts with Auer rods; absence of extramedullary disease; residual neutropenia (<1,000/µL) and residual thrombocytopenia (<100,000/µL)
PD = Progressive Disease
SD = Stable Disease
As of April 16, 2021 database entry. Data subject to source document verification.
a Subject 1001 received 2 of 3 doses of FT538 in the first treatment cycle and discontinued from study due to evidence of non-response to therapy.

Today’s Webcast
The Company will host a live audio webcast today, Thursday, May 13, 2021 at 5:00 p.m. ET to review the relapsed / refractory AML treatment landscape and discuss interim Phase 1 clinical data for the Company’s FT516 and FT538 off-the-shelf, iPSC-derived NK cell programs. The live webcast can be accessed under "Events & Presentations" in the Investors section of the Company’s website at www.fatetherapeutics.com. The archived webcast will be available on the Company’s website beginning approximately two hours after the event.

Spectrum Pharmaceuticals Reports First Quarter 2021 Financial Results and Corporate Update

On May 13, 2021 Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, reported that financial results for the three-month period ended March 31, 2021 and provided a corporate update (Press release, Spectrum Pharmaceuticals, MAY 13, 2021, View Source [SID1234579909]).

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"Our top priority is submission of the NDA to the FDA for poziotinib based on the positive data from Cohort 2 of the ZENITH20 clinical trial," said Joe Turgeon, President and CEO of Spectrum Pharmaceuticals. "The additional data on twice daily dosing presented at AACR (Free AACR Whitepaper) has the potential to significantly expand the value of poziotinib. We also look forward to the FDA’s pre-approval inspection of the ROLONTIS manufacturing facility which has been scheduled for later this month."

Pipeline Updates

Poziotinib, an irreversible tyrosine kinase inhibitor targeting EGFR and HER2 mutations

Spectrum is actively working on its new drug application (NDA) for the use of poziotinib in patients with previously treated locally advanced or metastatic NSCLC with HER2 exon 20 insertion mutations. Submission of the NDA, based on the positive results of Cohort 2 from the ZENITH20 clinical trial, is planned for later this year.
New data was presented at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Virtual Annual Meeting 2021 from ZENITH20 Cohort 5 which demonstrated improved efficacy and tolerability for twice daily (BID) dosing. In the 38 patients, with EGFR or HER2 exon 20 insertion mutations, who received 16mg per day and randomized either to poziotinib 16mg once daily (QD) or 8mg BID in Cohort 5, improved responses were observed in the BID arm with 31.6% of patients reaching a partial response, and Grade 3 or higher related adverse events were reduced by approximately 60%. Additionally, the BID dosing allowed for an improved rate of dose reductions and interruptions relative to the QD dose.
Faster enrollment is expected in Cohort 5 which is now dosing exclusively at 8mg BID.
Enrollment of first-line patients with NSCLC HER2 exon 20 mutations is continuing for Cohort 4 of the ZENITH20 clinical trial. Poziotinib is being administered at a dose of 8mg BID in first line treatment.
A poster titled "CNS activity of poziotinib in NSCLC with exon 20 insertion mutations" based on data from Cohorts 1-3 has been accepted for presentation at ASCO (Free ASCO Whitepaper).
ROLONTIS (eflapegrastim), a novel long-acting G-CSF

The FDA’s pre-approval inspection of the ROLONTIS manufacturing facility has been scheduled for later this month and pre-commercial preparation activities are underway.
Three-Month Period Ended March 31, 2021 (All numbers are from Continuing Operations and are approximate)

GAAP Results

Spectrum recorded a net loss of $35.7 million, or $0.25 loss per basic and diluted share, in the three-month period ended March 31, 2021, compared to a net loss of $40.6 million, or $0.36 loss per basic and diluted share, in the comparable period in 2020. Total research and development expenses were $19.4 million in the quarter, as compared to $16.0 million in the same period in 2020. Selling, general and administrative expenses were $14.3 million in the quarter, compared to $14.8 million in the same period in 2020.

The company ended the quarter with cash, cash equivalents, and marketable securities of $162.9 million.

Non-GAAP Results

Spectrum recorded a non-GAAP net loss of $29.4 million, or $0.20 loss per basic and diluted share, in the three-month period ended March 31, 2021, compared to a non-GAAP net loss of $25.0 million, or $0.22 loss per basic and diluted share, in the comparable period in 2020. Non-GAAP research and development expenses were $18.0 million, as compared to $14.6 million in the same period of 2020. Non-GAAP selling, general and administrative expenses were $11.5 million, as compared to $10.8 million in the same period in 2020.

Conference Call

This conference call will also be webcast. Listeners may access the webcast, which will be available on the investor relations page of Spectrum Pharmaceuticals’ website View Source on May 13, 2021 at 4:30 p.m. Eastern/1:30 p.m. Pacific.

Improving Cancer Survival Prediction: A New Approach with EpiVax Therapeutics’ Ancer Platform

On May 13, 2021 EpiVax Therapeutics, Inc. ("EVT") reported the publication "Multi‑step screening of neoantigens’ HLA and TCR‑interfaces improves prediction of survival" in Scientific Reports (Press release, EpiVax, MAY 13, 2021, View Source [SID1234579907]). This study demonstrates a superior method of survival analysis for cancer patients using EVT’s Ancer platform. EVT spun-off from EpiVax, Inc. in 2017 to apply EpiVax tools to clinical research.

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Built on validated in silico tools EpiMatrix and JanusMatrix, Ancer analyzes individual cancer mutanomes to define the presence of T cell epitopes likely to be immunogenic. The concept behind Ancer is that the presence of a mutation alone is not sufficient to generate a protective immune response, but that the differences present between the natural (human genome) sequence and the mutated sequence at the face of the epitope that is identifiable to T cells (the TCR-face) should be accounted for when creating precision cancer vaccines and predicting survival outcomes for cancer patients. This is because some mutations create self-like epitopes and can be tolerated by the immune system.

Researchers compared three approaches to analyzing cancer mutanomes and evaluated their ability to predict patient outcomes. Ancer, the best performing method, improved the differentiation of patients that did poorly from those who did well, accurately predicting survival outcome nearly 6 years longer as compared to other approaches, which only predicted as far as 3 years. This study has important consequences in our ability to identify patients with a high risk of tumor progression and early mortality based on their tumor genome.

On study implications, Dr. Randy Sweis of the University of Chicago stated, "These results suggest that defining the number of true neoepitopes using Ancer may represent a novel prognostic or predictive biomarker for cancer patients." Dr. Annie De Groot, EVT co-founder, suggested "In addition to biomarker identification, using Ancer novel precision vaccines for individual cancer patients offers major advantages compared to other approaches, since Ancer prioritizes truly immunogenic CD8 and CD4 neoepitopes, while removing self-like or inhibitory neoepitopes."