Myriad Announces $50 Million Accelerated Share Repurchase Program

On Npvember 19, 2018 Myriad Genetics, Inc. (NASDAQ: MYGN), a global leader in personalized medicine, reported that the company has entered into an accelerated share repurchase ("ASR") agreement with Bank of America, N.A. under which the company will repurchase approximately $50 million of its common stock (Press release, Myriad Genetics, NOV 19, 2018, View Source [SID1234531482]). Myriad currently has approximately $161 million remaining on its existing share repurchase authorization which has been approved by the company’s board of directors.

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"We remain highly confident in the future growth prospects for the company and believe repurchasing shares at current levels will generate a very attractive return on invested capital," said R. Bryan Riggsbee, chief financial officer, Myriad Genetics. "Given our strong balance sheet, we continue to be flexible in our capital deployment, and while we prioritize strategic acquisitions, we will opportunistically consider share repurchases if stock valuation is inconsistent with long-term fundamentals."

Under the ASR program, Myriad will pay an aggregate of approximately $50 million to Bank of America, N.A. to repurchase a number of shares that will be based on a discount to the volume-weighted average share price of its common stock over the course of a valuation period.

CHMP Issues Positive Opinion on Split Dosing Regimen for DARZALEX® (daratumumab)

On November 19, 2018 Genmab A/S (Nasdaq Copenhagen: GEN) reported that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positive opinion recommending updating the existing marketing authorization for DARZALEX (daratumumab) in the European Union (Press release, Genmab, NOV 19, 2018, View Source [SID1234531437]). The recommendation is to update the Summary of Product Characteristics in order to provide health care professionals the option to split the first infusion of DARZALEX over two consecutive days. The Type II variation application was submitted to the EMA by Genmab’s licensing partner, Janssen Biotech, Inc., in August 2018. In August 2012, Genmab granted Janssen Biotech, Inc. an exclusive worldwide license to develop, manufacture and commercialize daratumumab.

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"We are very pleased to receive this positive opinion from the CHMP as it is a step closer to potentially providing a more flexible dosing option to multiple myeloma patients in Europe who are receiving their initial infusion of DARZALEX," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

The positive opinion of the CHMP was based on data from the Phase Ib EQUULEUS (MMY1001) clinical trial, which demonstrated daratumumab pharmacokinetics (PK) concentrations were comparable regardless of whether the first dose was administered as a split infusion or as a single first infusion in patients with multiple myeloma. The safety profile of daratumumab was comparable when administered initially as either a split or a single dose.

A CHMP opinion is one of the final steps in the regulatory process of the EMA. A final decision by the European Commission is anticipated within approximately two months.

About the EQUULEUS (MMY1001) Study
The Phase Ib EQULLEUS open-label study includes up to 240 patients with the goal of evaluating the safety, tolerability and dose of daratumumab when administered in combination with various backbone treatment regimens for different settings of multiple myeloma.

About DARZALEX (daratumumab)
DARZALEX (daratumumab) injection for intravenous infusion is indicated in the United States in combination with bortezomib, melphalan and prednisone for the treatment of patients with newly diagnosed multiple myeloma who are ineligible for autologous stem cell transplant; in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy; in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor (PI); and as a monotherapy for the treatment of patients with multiple myeloma who have received at least three prior lines of therapy, including a PI and an immunomodulatory agent, or who are double-refractory to a PI and an immunomodulatory agent.7 DARZALEX is the first monoclonal antibody (mAb) to receive U.S. Food and Drug Administration (U.S. FDA) approval to treat multiple myeloma. DARZALEX is indicated in Europe in combination with bortezomib, melphalan and prednisone for the treatment of adult patients with newly diagnosed multiple myeloma who are ineligible for autologous stem cell transplant; for use in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of adult patients with multiple myeloma who have received at least one prior therapy; and as monotherapy for the treatment of adult patients with relapsed and refractory multiple myeloma, whose prior therapy included a PI and an immunomodulatory agent and who have demonstrated disease progression on the last therapy. In Japan, DARZALEX is approved in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of adults with relapsed or refractory multiple myeloma. DARZALEX is the first human CD38 monoclonal antibody to reach the market in the United Stated, Europe and Japan. For more information, visit www.DARZALEX.com.

Daratumumab is a human IgG1k monoclonal antibody (mAb) that binds with high affinity to the CD38 molecule, which is highly expressed on the surface of multiple myeloma cells. Daratumumab triggers a person’s own immune system to attack the cancer cells, resulting in rapid tumor cell death through multiple immune-mediated mechanisms of action and through immunomodulatory effects, in addition to direct tumor cell death, via apoptosis (programmed cell death).7,8,9,10,11

Daratumumab is being developed by Janssen Biotech, Inc. under an exclusive worldwide license to develop, manufacture and commercialize daratumumab from Genmab. A comprehensive clinical development program for daratumumab is ongoing, including multiple Phase III studies in smoldering, relapsed and frontline multiple myeloma settings and in amyloidosis. Additional studies are ongoing or planned to assess the potential of daratumumab in other malignant and pre-malignant diseases, such as NKT-cell lymphoma, myelodysplastic syndromes, B and T-ALL. Daratumumab has received two Breakthrough Therapy Designations from the U.S. FDA, for multiple myeloma, as both a monotherapy and in combination with other therapies.

Genomic Health Announces Presentation of Two Large Studies at the 2018 San Antonio Breast Cancer Symposium, Reinforcing Real-world Value of the Oncotype DX Breast Recurrence Score® Test

On November 19, 2018 Genomic Health, Inc. (NASDAQ: GHDX) reported that it will present results from two large studies of the Oncotype DX Breast Recurrence Score test at the 2018 San Antonio Breast Cancer Symposium (SABCS), which will be held December 4-8 (Press release, Genomic Health, NOV 19, 2018, View Source [SID1234531438]). The study findings reinforce the value of the Oncotype DX test in optimizing treatment and outcomes in patients with both node-negative and node-positive early-stage breast cancer. Presentations include:

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Results from a large population-based clinical outcomes study based on the Surveillance, Epidemiology, and End Results (SEER) registry program of the National Cancer Institute (NCI), the premier source of cancer statistics in the United States. To provide long-term (nine years) real-world evidence for both prognosis and chemotherapy benefit, the study assessed breast cancer-specific survival in patients with node-negative and node-positive disease who were treated based on their Oncotype DX Breast Recurrence Score test results.
Analysis of 500 early-stage breast cancer patients age 40 or younger to further the understanding of the value of the Oncotype DX test in guiding chemotherapy treatment decisions. The analysis is based on a multi-center prospective cohort study led by Dana-Farber Cancer Institute investigators in Boston.
Complete results from both studies will be announced in accordance with the SABCS embargo policy. Following are details for the two poster presentations:

Abstract: P3-11-02Poster: Breast cancer specific mortality in patients with node-negative and node-positive breast cancer guided by the 21-gene assay: A SEER-genomic population-based studyAuthors: Hortobagyi GN, Shak S, Sledge GW Jr., Winer EP, Albain KS, Mamounas EP, Jakubowski DM, Petkov VI, Wolmark NLocation: Hall 1Date and Time: Thursday, December 6, 7-9 a.m. CST
Abstract: P2-08-07Poster: Prognostic impact of the 21-gene Recurrence Score assay among young women with node-negative and node-positive early-stage breast cancerAuthors: Poorvu PD, Gelber SI, Rosenberg SM, Ruddy KJ, Tamimi RM, Collins LC, Peppercorn J, Schapira L, Borges VF, Come SE, Warner E, Jakubowski DM, Russell C, Winer EP, Partridge AHLocation: Hall 1Date and Time: Thursday, December 6, 7-9 a.m. CST
About Oncotype DX
The Oncotype DX portfolio of breast, colon and prostate cancer tests applies advanced genomic science to reveal the unique biology of a tumor in order to optimize cancer treatment decisions. The company’s flagship product, the Oncotype DX breast cancer test, has been shown to predict the likelihood of chemotherapy benefit as well as recurrence in invasive breast cancer. Additionally, the test predicts the likelihood of recurrence in a pre-invasive form of breast cancer called DCIS. With more than 950,000 patients tested in more than 90 countries, the Oncotype DX tests have redefined personalized medicine by making genomics a critical part of cancer diagnosis and treatment. To learn more about Oncotype DX tests, visit www.OncotypeDX.com or www.MyBreastCancerTreatment.org.

Actinium Pharmaceuticals, Inc. to Present at 30th Annual Piper Jaffray Healthcare Conference

On November 19, 2018 Actinium Pharmaceuticals, Inc. (NYSE American: ATNM) reported that management will present at the 30th Annual Piper Jaffray Healthcare conference that is being held at the Lotte New York Palace hotel, November 26-29 (Press release, Actinium Pharmaceuticals, NOV 19, 2018, View Source [SID1234531439]). The live webcast of the presentation will be available on Actinium’s investor relations webpage at: View Source or by clicking on the following link: View Source;tp_key=f710d7f814. Details of Actinium’s presentation are as follows:

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Date: Tuesday, November 27, 2018
Time: 2:10 PM ET
Location: Harlem Track – Kennedy 2, 4th Floor
Venue: Lotte New York Palace

Conference attendees may schedule a meeting with Actinium’s management by contacting Steve O’Loughlin, Actinium’s Principal Financial Officer, [email protected].

TRACON Pharmaceuticals Presents Data From Phase 2 Trial Of TRC102 And Temodar® In Patients With Recurrent Glioblastoma At Society For Neuro-Oncology Annual Meeting

On November 19, 2018 TRACON Pharmaceuticals (NASDAQ: TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, wet age-related macular degeneration and fibrotic diseases, reported its data from the Company’s Phase 2 study of TRC102 and Temodar (temozolomide) in patients with recurrent glioblastoma at the Society for Neuro-Oncology (SNO) annual meeting, taking place in New Orleans (Press release, Tracon Pharmaceuticals, NOV 19, 2018, View Source [SID1234531440]). TRC102 is a small molecule inhibitor of the base excision repair (BER) pathway that causes resistance to Temodar chemotherapy in preclinical tumor models.

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In an oral presentation by Dr. Lisa Rogers, Director of Medical Neuro-Oncology at Cleveland Medical Center, entitled, "Phase 2 Trial of Temozolomide and TRC102, Base Excision Repair Inhibitor, in Bevacizumab Naive Glioblastoma at First Recurrence", safety and efficacy data were presented from patients who received TRC102 and Temodar at the time of recurrence following first line therapy with Temodar chemotherapy and radiation therapy.

The combination of TRC102 and Temodar was tolerable, but did not meet the primary efficacy endpoint of demonstrating objective responses by Response Assessment in Neuro-Oncology criteria in the initial 19 enrolled patients, most of whom were treated at Cleveland Clinic. Two patients (10.5%) demonstrated evidence of clinical benefit and met the secondary endpoint of progression free survival (PFS) beyond 6 months. Both patients who demonstrated PFS for more than 11 months remain alive over 30 months following treatment initiation with TRC102 and Temodar for recurrent glioblastoma. PFS of greater than 11 months was associated with N-methylpurine DNA glycosylase expression, a biomarker that initiates the BER pathway of resistance that is inhibited by TRC102.

"We recognized that the primary endpoint of objective response in the Phase 2 trial of Temodar and TRC102 represented a high efficacy hurdle, that of resensitizing recurrent glioblastoma patients to Temodar treatment. We were encouraged to see certain patients demonstrate prolonged clinical benefit that was associated with evidence of activation of the BER pathway of resistance that is inhibited by TRC102," said Dr. Charles Theuer, President and CEO of TRACON Pharmaceuticals. "Our efforts will continue to focus on identifying possible biomarkers that are prognostic of response to TRC102 in four ongoing clinical trials supported by the National Cancer Institute."

About TRC102

TRC102 is a novel, clinical stage small molecule inhibitor of the base excision repair pathway that is implicated in resistance to alkylating and antimetabolite chemotherapy. TRC102 has been combined safely with Temodar, Alimta (pemetrexed) and Fludara (fludarabine) in phase 1 trials and is being studied in a broad program of clinical trials supported by the National Cancer Institute, including a Phase 2 trial of TRC102 and Temodar in patients with solid tumors, a Phase 2 trial of TRC102 and Alimta in patients with non-small cell lung cancer, a Phase 1 trial of TRC102 with chemotherapy and radiation therapy in patients with non-small cell lung cancer, and a Phase 1 trial of TRC102 with Alimta and cisplatin in patients with solid tumors. For more information about the clinical trials, please visit TRACON’s website at www.traconpharma.com/clinical_trials.php.