GlycoMimetics Enrolls First Patient in Global Phase 3 Clinical Trial of Uproleselan in Relapsed/Refractory Acute Myeloid Leukemia

On November 19, 2018 GlycoMimetics, Inc. (NASDAQ: GLYC) reported dosing of the first patient in the company’s Phase 3 clinical trial of uproleselan (GMI-1271) in relapsed/refractory AML (Press release, GlycoMimetics, NOV 19, 2018, View Source [SID1234531445]). The trial’s protocol provides for administration of the investigational drug in combination with MEC (mitoxantrone, etoposide and ara-C) or in combination with FAI (fludarabine, ara-C and idarubicin), both of which are standard of care for this indication in the United States. In 2017, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to GlycoMimetics for uproleselan in this patient population. The company anticipates the initiation of two complementary Phase 2/3 trials from two leading clinical consortia in early 2019.

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"The dosing of the first patient in our pivotal Phase 3 trial for uproleselan is an important milestone for GlycoMimetics," said Helen Thackray, M.D., FAAP, Senior Vice President, Clinical Development, and Chief Medical Officer of GlycoMimetics. "This is a rigorously designed Phase 3 trial that has the potential to bring us one step closer to meeting the significant unmet needs of individuals living with relapsed/refractory AML. The trial is an important component of our comprehensive late-stage development program for uproleselan that positions us to evaluate the use of our product candidate across the spectrum of AML. It is the first of three randomized, controlled trials for uproleselan in AML, which we believe should provide clear efficacy and safety outcome measures in each of the settings being assessed."

"Our clinical development pipeline sets us up for multiple, value-creating clinical data readouts," added Rachel K. King, GlycoMimetics Chief Executive Officer. "During 2019, we anticipate topline data from the Phase 3 study of rivipansel being conducted by Pfizer in patients with sickle cell disease. Then, beginning at the end of 2020, we expect to generate topline data from the several trials that we will have underway in AML."

GlycoMimetics plans to enroll approximately 380 adult patients worldwide in the single pivotal randomized, double-blind, placebo-controlled Phase 3 AML trial, which is designed to align with guidance received from regulatory agencies. The primary endpoint is overall survival, and censoring for transplant in the primary efficacy analysis will not be required. Key secondary endpoints include incidence of severe mucositis and remission rate, which will be assessed in a hierarchical fashion for potential inclusion in the product labeling. The majority of the study sites will be in the United States, with meaningful participation from leading clinical centers in other strategic countries to support regulatory filings in major markets.

More information on the clinical trial can be found at www.clinicaltrials.gov.

About Uproleselan (GMI-1271)

Uproleselan (yoo’ pro le’sel an) is designed to block E-selectin (an adhesion molecule on cells in the bone marrow) from binding with blood cancer cells as a targeted approach to disrupting well-established mechanisms of leukemic cell resistance within the bone marrow microenvironment. In a Phase 1/2 clinical trial, uproleselan was evaluated in both newly diagnosed elderly and relapsed/refractory patients with AML. In both populations, patients treated with uproleselan together with standard chemotherapy achieved better than expected remission rates and overall survival, as well as lower than expected induction-related mortality rates, as compared to historical controls which have been derived from results from third party clinical trials evaluating standard chemotherapy The U.S. Food and Drug Administration (FDA) has granted uproleselan Breakthrough Therapy Designation for the treatment of adult AML patients with relapsed/refractory (R/R) disease. GlycoMimetics is currently implementing a comprehensive development program across the clinical spectrum of AML. This includes a company sponsored Phase 3 trial in R/R AML and two consortia-sponsored trials in newly diagnosed patients. One consortium trial is being sponsored by the NCI and will enroll newly diagnosed patients fit for intensive chemotherapy. The other trial is sponsored by the HOVON group in Europe and will enroll newly diagnosed patients unfit for intensive chemotherapy.

Guardant Health Reports Third Quarter 2018 Financial Results

On November 19, 2018 Guardant Health, Inc. (Nasdaq:GH), a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary blood tests, vast data sets and advanced analytics, reported financial results for the third quarter ended September 30, 2018 (Press release, Guardant Health, NOV 19, 2018, View Source [SID1234531532]).

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Recent Highlights

Revenues of $21.7 million for the third quarter of 2018, representing a 95% increase over the third quarter of 2017

Reported 7,027 tests to clinical customers and 2,505 tests to biopharmaceutical customers in the third quarter, representing increases of 14% and 67% respectively, over the third quarter 2017

Lung cancer study published in JAMA Oncology demonstrated Guardant360 outperformed tissue biopsy alone in identification of targetable mutations

Awarded Medicare coverage for the Guardant360 assay in non-small cell lung cancer through a local coverage determination from Palmetto GBA, a Medicare Administrative Contractor; successfully received first payment

Completed initial public offering, raising approximately $249.5 million of net proceeds, after underwriting fees and other expenses
"Our third quarter accomplishments reflect the ongoing strength of our business," said Helmy Eltoukhy, PhD, Chief Executive Officer. "We are continuing to build proof points for a blood-first paradigm ahead of traditional tissue genotyping, as demonstrated by the study from the University of Pennsylvania which was recently published in JAMA Oncology."
"In addition, we are pleased with the successful completion of our IPO," continued Dr. Eltoukhy. "We are grateful for the support of our investors who participated in the offering, and we are focused on the creation of long-term shareholder value through unprecedented access to cancer’s molecular information throughout all stages of the disease."
Third Quarter 2018 Financial Results
Revenue was $21.7 million in the three months ended September 30, 2018, a 95% increase from $11.1 million in the three months ended September 30, 2017. Precision oncology revenue increased 78% driven by higher testing volume and increases in revenue per test. Tests for clinical customers increased 14% (after excluding tests in the third quarter of 2017 from a customer that began processing tests in-house in March 2018 based on a joint development agreement) and tests for biopharmaceutical customers increased 67%.
Gross profit, or total revenue less cost of precision oncology testing and cost of development services, was $11.6 million for the third quarter of 2018, an increase of $9.1 million from $2.5 million in the corresponding prior year period. Gross margin, or gross profit divided by total revenue, was 53.7%, as compared to 22.2% in the corresponding prior year period.
Operating expenses were $35.8 million for the third quarter of 2018, as compared to $31.1 million in the corresponding prior year period, an increase of 15%.
Net loss attributable to Guardant Health, Inc. common stockholders was $24.5 million in the third quarter of 2018, as compared to $33.3 million in the corresponding period of the prior year. Net loss per share attributable to Guardant Health, Inc. common stockholders was $1.94 in the third quarter of 2018, as compared to $2.76 in the corresponding period of the prior year.
Cash, cash equivalents and marketable securities were $274.3 million as of September 30, 2018. In October 2018, Guardant completed an initial public offering, raising approximately $249.5 million net of underwriting fees and other expenses.
2018 Financial Guidance
Guardant Health expects full year 2018 revenue to be in the range of $82.0 million to $84.0 million.
Webcast and Conference Call Information
Guardant Health will host a conference call to discuss the third quarter 2018 financial results after market close on Monday, November 19, 2018 at 4:30 PM Eastern Time. The conference call can be accessed live over the phone (866) 417-5537 for U.S. callers or (409) 217-8233 for international callers (Conference ID: 9156645). The webcast can be accessed at View Source

Sensei Biotherapeutics to Present at the 30th Annual Piper Jaffray Healthcare Conference

On November 19, 2018 Sensei Biotherapeutics, Inc., a clinical-stage biopharmaceutical company developing precision immuno-oncology therapies, reported that John Celebi, President and Chief Executive Officer of Sensei Biotherapeutics, will present a company overview at the 30th Annual Piper Jaffray Healthcare Conference on Tuesday, November 27, 2018 at 1:30 p.m. ET in New York, NY (Press release, Sensei Biotherapeutics, NOV 19, 2018, View Source [SID1234531446]).

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RXi Pharmaceuticals Corporation Changes Name to Phio Pharmaceuticals Corp.

On November 19, 2018 Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (sd-rxRNA) therapeutic platform, reported that its corporate name change from RXi Pharmaceuticals Corporation to Phio Pharmaceuticals Corp. became effective at 12:01 a.m. Eastern Time today, November 19, 2018 (Press release, RXi Pharmaceuticals, NOV 19, 2018, View Source [SID1234531476]). In connection with the name change, the Company’s shares of common stock will trade under a new ticker symbol, "PHIO," and a new CUSIP number, 71880W204, at the market open today. In addition, the Company’s warrants that are currently trading on the Nasdaq Capital Market will begin trading under the new ticker symbol, "PHIOW," and new CUSIP number, 71880W105. Concurrently, the Company is launching a new website, www.phiopharma.com.

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Said Dr. Gerrit Dispersyn, President & COO of Phio Pharmaceuticals, "The name change from RXi Pharmaceuticals to Phio Pharmaceuticals reflects the completion of our Company’s transition from a platform company to one that is fully committed to develop groundbreaking immuno-oncology therapeutics based on our self-delivering RNAi platform."

OncoCyte Corporation to Present at the Piper Jaffray 30th Annual Health Care Conference

On November 19, 2018 OncoCyte Corporation (NYSE American: OCX), a developer of novel, non-invasive tests for the early detection of lung cancer, reported that the Company will provide a corporate overview at the Piper Jaffray 30th Annual Health Care Conference, being held November 27-29, 2018 at the Lotte New York Palace Hotel in New York, NY (Press release, Oncocyte, NOV 19, 2018, View Source [SID1234531492]).

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OncoCyte Corporation Presentation Details:

Date: Thursday, November 29
Time: 10:00am Eastern Time
Location: Lotte New York Palace Hotel
Webcast: View Source;tp_key=48b258fde4