Abbott Raises Quarterly Dividend 12.5%, Increasing Payouts for 48 Straight Years

On December 13, 2019 The board of directors of Abbott (NYSE: ABT) reported the company’s quarterly common dividend to 36 cents per share – a 12.5% increase (Press release, Abbott, DEC 13, 2019, View Source [SID1234552346]).

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This marks the 384th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Feb. 14, 2020, to shareholders of record at the close of business on Jan. 15, 2020.

Abbott has increased its dividend payout for 48 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.

OMEROS ANNOUNCES FULL EXERCISE AND CLOSING OF UNDERWRITER’S OPTION TO PURCHASE ADDITIONAL SHARES

On December 13, 2019 Omeros Corporation (Nasdaq: OMER) ("Omeros"), a commercial-stage biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, complement-mediated diseases, disorders of the central nervous system and immune-related diseases, including cancers, reported the full exercise and closing of the sale of 572,518 shares of common stock to the underwriter of its previously announced public offering pursuant to the underwriter’s option under the underwriting agreement to purchase additional shares of common stock (Press release, Omeros, DEC 13, 2019, View Source [SID1234552362]). When combined with shares sold in the closing that occurred on December 9, 2019, Omeros sold an aggregate of 4,389,311 shares of common stock in the offering at $13.10 per share and the total gross proceeds to Omeros, before deduction of underwriting discounts and other estimated offering expenses, were approximately $57.5 million.

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Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.

Omeros intends to use the net proceeds from the offering for general corporate purposes, including funding clinical trials, pre-clinical studies, manufacturing, build out of commercial infrastructure and other costs associated with advancing its development programs and product candidates toward regulatory submissions and potential commercialization. Omeros may also use the net proceeds for working capital, the repayment of debt obligations, acquisitions or investments in businesses, products or technologies that are complementary to its own, and other required capital expenditures.

The securities described above were offered by Omeros pursuant to a shelf registration statement on Form S-3 (File No. 333- 235349) that was filed with the Securities and Exchange Commission (the "SEC") on December 4, 2019, which became automatically effective upon filing. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on December 6, 2019 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at [email protected].

Anixa Biosciences to Host Conference Call to Discuss Plans for 2020

On December 13, 2019 Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on harnessing the body’s immune system in the fight against cancer, reported that it will hold a conference call on December 17, 2019 at 1:30 p.m. Pacific / 4:30 p.m. Eastern to discuss the progress made and the future plans for its CchekTM artificial intelligence based cancer diagnostic test and its CAR-T based ovarian cancer therapeutic and breast cancer vaccine programs (Press release, Anixa Biosciences, DEC 13, 2019, https://ir.anixa.com/news/detail/941/anixa-biosciences-to-host-conference-call-to-discuss-plans-for-2020 [SID1234552347]).

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Conference Call Information:
Interested participants and investors may access the conference call by dialing:

(877) 876-9174
Conference ID: Anixa
An audio webcast will be accessible via the Investors section of the Anixa website at View Source An archive of the webcast will remain available for 30 days after the call.

OncoSec Presents Interim Data of 28.5% Objective Response Rate (ORR) from Ongoing KEYNOTE-890 Study Evaluating TAVO™ in Combination with KEYTRUDA® for Heavily Pretreated, Late-Stage, Metastatic Triple Negative Breast Cancer (mTNBC) at the 2019 San Antonio Breast Cancer Symposium

On December 13, 2019 OncoSec Medical Incorporated ("OncoSec") (Nasdaq:ONCS), a company developing late-stage intratumoral cancer immunotherapies, reported interim results from KEYNOTE-890, an ongoing Phase 2 study of TAVO (intratumoral IL-12) in combination with KEYTRUDA (pembrolizumab), an anti-PD-1 checkpoint inhibitor, in patients with metastatic, chemotherapy-refractory triple negative breast cancer (mTNBC) (Press release, OncoSec Medical, DEC 13, 2019, View Source [SID1234552363]).

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Patients who previously had progressed after an average of three prior lines of chemotherapy were enrolled in the KEYNOTE-890 study to evaluate if the addition of TAVO could provide meaningful clinical activity when combined with KEYTRUDA. The interim analysis, presented on December 12, 2019, at the San Antonio Breast Cancer Symposium, included more than half of the patients (14 out of 25) enrolled in the KEYNOTE-890 study evaluating tumor responses, related immunological responses and safety.

Four of the 14 patients showed a rapid tumor reduction and had a confirmed partial response by RECIST v1.1 (ORR 28.5%), including a deep partial response in a patient with multiple liver, bone, skin and nodal metastases and a short disease-free interval following neoadjuvant chemotherapy. All responses are ongoing (range: 6 to 9 months) and a median duration of response (DOR) has not yet been reached. Three of the four patients with a partial response experienced deepening tumor shrinkage over six months.

These interim findings compare favorably to the response rate (range of 6-10%) observed with KEYTRUDA as a monotherapy in mTNBC patients 1,2.

Stable disease was observed in three patients (21.4%), with two stable disease patients reporting 20% or greater tumor shrinkage. Of the seven patients who progressed following treatment, two received only one cycle of combination treatment prior to rapid clinical deterioration. Regression of both TAVO treated and untreated lesions were observed. Regression of distal visceral lesions were also observed. Additionally, 3 of the 4 responding patients’ lesions were PD-L1 negative by IHC analysis before treatment (1 patient was undetermined).

"Metastatic TNBC is a heterogeneous disease with a poor prognosis where very few pre-treated patients achieve an objective response to PD-1/PD-L1 checkpoint inhibitor therapy," said Melinda L. Telli, MD, Stanford University School of Medicine. "These preliminary data suggest that TAVO may enhance sensitivity to pembrolizumab in mTNBC patients with a 28.5% ORR reported. I’m encouraged by the tumor responses observed in PD-L1 negative patients and the overall safety profile."

Importantly, TAVO and pembrolizumab were well tolerated, with only 3 of 16 patients experiencing grade 3 treatment-related adverse events with combination treatment.

Patients demonstrated encouraging immunological responses in tumor and blood consistent with an IL-12-associated mechanism of action, including significantly increased on-treatment proliferating T cell subsets in the periphery and increased gene expression signatures associated with productive immunological responses in the tumor. Biomarker analysis of patient tumor and blood samples are ongoing.

"These data show a strong signal for clinical benefit with TAVO enhancing sensitivity to pembrolizumab in treating metastatic TNBC patients who were previously unresponsive to multiple prior rounds of therapy," said Kellie Malloy, Chief Clinical Development Officer at OncoSec. "They also confirm the consistent safety profile of TAVO as a well-tolerated cancer immunotherapy. We look forward to continuing development and plan to expand this clinical program and the KEYNOTE-890 trial."

To date, the KEYNOTE-890 study has enrolled 24 of the planned 25 patients. OncoSec expects to report the full data results in 2020.

About Triple Negative Breast Cancer (TNBC)

TNBC is an aggressive type of breast cancer that characteristically has a high recurrence rate within the first five years after diagnosis. While some breast cancers may test positive for estrogen receptor, progesterone receptor or human epidermal growth factor receptor 2 (HER2), TNBC tests negative for all three. As a result, TNBC does not respond to therapies targeting these markers, making it more difficult to treat. Approximately 10-20% of patients with breast cancer are diagnosed with TNBC.

About KEYNOTE-890

KEYNOTE-890 is designed as a multicenter Phase 2 open-label trial focusing on patients with a histologically confirmed diagnosis of inoperable locally advanced or metastatic TNBC and at least 1 prior line of approved systemic chemotherapy or immunotherapy. 25 patients are expected to be enrolled. Each patient will undergo 3-week treatment cycles with pembrolizumab administered as a 30-minute IV infusion day 1 of every cycle (flat dose of 200 mg) and treated with TAVO on days 1, 5 and 8 every six weeks.

Anixa Biosciences Provides Update on CAR-T Program

On December 13, 2019 Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on harnessing the body’s immune system in the fight against cancer, reported an update regarding the chimeric antigen receptor T-cell (CAR-T) technology it is developing with its partner, Moffitt Cancer Center (Press release, Anixa Biosciences, DEC 13, 2019, View Source [SID1234552348]).

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Experimental results reported from the laboratory of Dr. Jose Conejo-Garcia, the inventor of Anixa’s CAR-T technology and the Chair of the Department of Immunology at Moffitt, indicate that the potential efficacy of this technology as a treatment for ovarian cancer could be greatly improved through additional genetic engineering.

CAR-T therapy begins with the extraction and isolation of T-cells from individual cancer patients. A viral vector is then used to transform these T-cells to produce on their surface a molecule that enables the cell, once re-infused into the patient, to find cancer cells and kill them. With Anixa’s CAR-T therapy, the T-cells are transformed to express on their surface, the follicle stimulating hormone (FSH), which targets cells that are expressing follicle stimulating hormone receptor (FSHR).

Dr. Conejo-Garcia’s recent experimental results indicate that with additional engineering, the transformed cells produced by the viral vector currently being used could express much higher levels of FSH, enabling a more potent cancer killer. In order to increase the potency of the transformed T-cells, researchers at Moffitt will create an improved viral vector and verify experimentally that it will result in a more powerful cancer therapy. As a result, the decision has been made to optimize the therapy and file an Investigational New Drug (IND) application with the US. Food and Drug Administration in the future. This optimization work may take an additional year, resulting in the filing of the IND in late 2020, with clinical trials to commence in 2021.

Dr. Amit Kumar, President and CEO of Anixa Biosciences stated, "While this new development may be disappointing to shareholders, we have decided that we want to go into the clinic with the best possible therapy. CAR-T technology has not worked in a clinically meaningful way for solid tumors. Making this change would result in a radically superior therapy and give us a dramatically greater chance of success against ovarian cancer, a solid tumor."

"These decisions are based on scientific developments. Our technology is the most cutting-edge science and as R&D results mandate, and for the welfare of patients, we must provide the best possible chance of success. The Anixa and Moffitt teams will strive to get into the clinic as soon as possible with the best possible therapy," commented Dr. Conejo-Garcia.

Dr. Robert Wenham, Chair of the Department of Gynecologic Oncology at Moffitt, and the investigator who will be leading the clinical trial, noted, "Mortality rates from ovarian cancer have not changed for decades, with most women relapsing after initial therapy. Based on the pre-clinical data and promise of this CAR-T therapy, I look forward to launching the clinical trial with the more optimized therapy in order to give our patients the best chance of a successful outcome."