EpicentRx Announces Positive Results From Phase 1 Trial of RRx-001 as First-line Treatment in Newly Diagnosed Glioblastoma

On November 25, 2019 EpicentRx, Inc., a clinical cancer immunotherapy company targeting both sides of the immune system to deliver cancer treatments with minimal toxicity, reported positive results from the Phase 1 G-FORCE trial of RRx-001 as first-line treatment in newly diagnosed glioblastoma (Press release, EpicentRx, NOV 25, 2019, View Source [SID1234551664]). The late-breaking data were presented by Nicholas Butowski, M.D., a principal investigator on the trial and Professor of Neurological Surgery at the University of California San Francisco Weill Institute for Neurosciences, on November 22 at the Society for Neuro-Oncology annual meeting in Phoenix.

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Glioblastoma multiforme (GBM) represents 15-20% of all primary intracranial neoplasm, with death typically occurring within the first 15 months after diagnosis. The median age of diagnosis is 64 years old. Since agents from various drug classes have failed in clinical trials, there is an urgent need for a more effective and less toxic GBM therapy.

RRx-001, EpicentRx’s lead program, is a small molecule immunotherapy targeting the CD47 – SIRPα axis and has been evaluated in multiple clinical studies.

In the G-FORCE trial, 18 patients with histologically verified glioblastoma received RRx-001 plus radiotherapy and temozolomide. After a six-week break, patients in cohorts 1-3 received temozolomide maintenance therapy, while patients in cohorts 4-6 received temozolomide plus RRx-001 maintenance therapy.

RRx-001 combination therapy led to an overall survival (OS) of 21.9 months, compared with historical OS data of 15-20 months. The RRx-001 combo also led to a progression-free survival (PFS) of 13 months, compared with historical PFS data of 6-7 months.

The combination therapy was well tolerated, with no serious adverse events considered related to treatment with RRx-001.

"Patients diagnosed with glioblastoma have poor prognosis and very limited treatment options," said Corey A. Carter, M.D., President & CEO of EpicentRx.

"The results from this Phase 1 G-FORCE study and our ongoing Phase 3 REPLATINUM trial in small cell lung cancer (SCLC) validate RRx-001 as a viable therapy for multiple cancer types. We plan to begin a Phase 0 trial of RRx-001 for GBM in the near future to gain further insight into the mechanism of action in brain tumors before starting Phase 3 studies," added Dr. Carter.

"I am very excited to begin the Phase 0 trial," said Howard Fine, M.D., Director of Neuro-oncology at Weill Cornell Medical Center and principal investigator for the upcoming Phase 0 trial. "This is a high priority project and collaboration for both Weill Cornell and EpicentRx, and an important step in our efforts to bring safe, effective and minimally toxic therapeutics to GBM patients," Dr. Fine said.

RRx-001 has Orphan Drug designation from FDA for SCLC, neuroendocrine cancer and glioblastoma, and from EMA for SCLC.

About RRx-001

RRx-001 is a next generation small molecule immunotherapy being developed by EpicentRx. The therapy targets the CD47 – SIRPα axis and repolarizes tumor associated macrophages (TAMs) and other immunosuppressive cells in the tumor microenvironment to an immunostimulatory phenotype. RRx-001 stimulates the immune system and can be used as monotherapy or in combination with chemotherapy, immunotherapy, radiation and targeted agents, giving the therapy the potential to convert "treatment-resistant" tumors into "treatment-sensitive" tumors. RRx-001 is currently in the Phase 3 REPLATINUM trial for the treatment of third-line and beyond small cell lung cancer (SCLC). RRx-001 is also in the Phase 2 QUADRUPLE THREAT trial for the treatment of SCLC, non-small cell lung cancer, neuroendocrine tumors, ovarian and prostate cancer, and the Phase 2 PREVLAR trial for the prevention of oral mucositis. Clinical studies for the drug have also been conducted for the treatment of colorectal cancer, brain metastases and glioblastoma.

Myovant Sciences to Present at the Evercore ISI 2nd Annual HealthCONx Conference on December 3, 2019

On November 25, 2019 Myovant Sciences (NYSE: MYOV), a healthcare company focused on developing innovative treatments for women’s health and prostate cancer, reported that Lynn Seely, M.D., Myovant’s President and CEO, will present at the Evercore ISI 2nd Annual HealthCONx Conference on Tuesday, December 3, 2019 at 10:35 a.m. Eastern Time in Boston, MA (Press release, Myovant Sciences, NOV 25, 2019, https://investors.myovant.com/news-releases/news-release-details/myovant-sciences-present-evercore-isi-2nd-annual-healthconx [SID1234551711]).

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A live webcast of the presentation will be accessible on the Events page under the Investors & Media section of the Myovant website at www.myovant.com. Please connect to the company’s website at least 15 minutes prior to the presentation to ensure adequate time for any software download that may be required to listen to the webcast. A replay of the webcast will be available at the same location for 30 days following the conference.

Synlogic to Webcast Presentation at the Piper Jaffray 31st Annual Healthcare Conference

On November 25, 2019 Synlogic(Nasdaq:SYBX) reported that Aoife Brennan, M.B., B.Ch., Synlogic’s president and chief executive officer, will participate in a fireside chat at the Piper Jaffray 31st Annual Healthcare Conference at 11:30 am ET on Thursday, December 5, 2019, in New York City (Press release, Synlogic, NOV 25, 2019, View Source [SID1234551648]).

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A live webcast of the presentation can be accessed under "Event Calendar" in the Investors & Media section of the Company’s website. An archived webcast recording will be available on the Synlogic website for approximately 30 days after the event.

X4 Pharmaceuticals Announces Proposed Public Offering

On November 25, 2019 X4 Pharmaceuticals, Inc. (Nasdaq: XFOR), a clinical-stage biopharmaceutical company focused on the research, development and commercialization of novel therapeutics for the treatment of rare diseases, reported that it has commenced an underwritten public offering of shares of its common stock (or pre-funded warrants to purchase its common stock in lieu thereof) and Class B warrants to purchase its common stock (Press release, X4 Pharmaceuticals, NOV 25, 2019, View Source [SID1234551665]). All of the securities in the offering will be sold by X4. The offering is subject to market and other 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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Cowen and Stifel are acting as joint book-running managers for the offering. Canaccord Genuity and Oppenheimer & Co. are acting as lead managers, and H.C. Wainwright & Co. and Roth Capital Partners are acting as managers for the offering.

The offering will be made only by means of a written prospectus and related prospectus supplement forming part of a shelf registration statement on Form S-3 that was originally filed with the Securities and Exchange Commission (SEC) on August 9, 2019 and declared effective by the SEC on August 29, 2019. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available at the SEC’s website located at www.sec.gov, copies of which may be obtained, when available, from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926, and from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at 415-364-2720 or by email at [email protected].

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

Agilent Technologies Reports Fourth-Quarter and Fiscal Year 2019 Financial Results

On November 25, 2019 Agilent Technologies Reported that Fourth-Quarter and Fiscal Year 2019 Financial Results (Press release, Agilent, NOV 25, 2019, https://www.agilent.com/about/newsroom/presrel/2019/25nov-gp19026.html [SID1234551649]).

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Highlights:

Fourth-quarter fiscal year 2019

Revenue of $1.37 billion represents 6% reported growth; and up 4% on a core(1) basis led by strong results from the Agilent CrossLab Group and the Diagnostics and Genomics Group
GAAP net income of $194 million with EPS of 62 cents, up 2% year over year
Non-GAAP(2) net income of $277 million with EPS of 89 cents, up 10% year over year
Fiscal year 2019

Fiscal year 2019 revenue of $5.16 billion delivers 5% reported growth and a 5% increase in core(1) revenue over fiscal year 2018
Full-year GAAP net income of $1.07 billion with EPS of $3.37, up 247% year over year
Non-GAAP(2) net income of $989 million with EPS of $3.11, up 11% year over year
Outlook

Fiscal year 2020 revenue expected in the range of $5.50 billion to $5.55 billion, representing core(1) growth of 4% to 5%. Fiscal year 2020 non-GAAP(3) earnings guidance of $3.38 to $3.43 per share
Fiscal first-quarter revenue guidance of $1.340 billion to $1.355 billion, representing core(1) revenue growth of 2.5% to 3.5%. Fiscal first-quarter non-GAAP(3) earnings guidance of 80 cents to 81 cents per share
Agilent Technologies, Inc. (NYSE: A) today reported revenue of $1.37 billion for the fourth quarter ended Oct. 31, 2019, up 6% year over year (core(1) growth of 4%).

On a GAAP basis, fourth-quarter net income was $194 million, or 62 cents per share. This compares with $195 million, or 61 cents per share, in the fourth quarter of fiscal year 2018. Non-GAAP(2) net income was $277 million, or 89 cents per share, during the quarter, compared with $262 million or 81 cents per share during the fourth quarter a year ago.

"Agilent’s fourth-quarter results cap off a very solid 2019 and reflect the broad-based business we’ve built over the last five years," said Mike McMullen, Agilent president and CEO. "Based on what we’ve been able to achieve in 2019, I’m convinced we’re in an exceptionally strong position for the future."

Financial Highlights

Life Sciences and Applied Markets Group

Fourth-quarter revenue of $622 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) grew a reported 4% year over year (declining 2% on a core(1) basis). LSAG’s operating margin for the quarter was 25.3%. Full-year revenue of $2.30 billion increased a reported 1% versus fiscal 2018 (down 1% on a core(1) basis). LSAG’s operating margin for the year was 23.5%.

Agilent CrossLab Group

Agilent CrossLab Group (ACG) posted fourth-quarter revenue of $476 million, representing year-over-year reported growth of 8% (up 10% on a core(1) basis). ACG’s operating margin for the quarter was 28.0%. Full-year revenue of $1.84 billion grew a reported 8% over last year (up 10% on a core(1) basis). ACG’s operating margin for the year was 25.8%.

Diagnostics and Genomics Group

The Diagnostics and Genomics Group (DGG) generated fourth-quarter revenue of $269 million, up a reported 5% year over year (up 7% on a core(1) basis). DGG posted operating margins of 19.7%. Full-year revenue was $1.02 billion, which was up a reported 8% year over year (up 9% on a core(1) basis). DGG’s operating margin for the year was 18.2%.

Full-Year and Fourth Quarter Outlook

For fiscal year 2020, Agilent expects revenue of $5.50 billion to $5.55 billion. Fiscal year 2020 non-GAAP(3) earnings guidance is in the range of $3.38 to $3.43 per share.

Agilent expects fiscal first-quarter 2020 revenue in the range of $1.340 billion to $1.355 billion. First-quarter 2020 non-GAAP(3) earnings are expected to be in the range of 80 cents to 81 cents per share.

The outlook is based on Oct. 31, 2019, currency exchange rates.

Conference Call

Agilent’s management will present more details about its fourth-quarter and fiscal year 2019 financial results on a conference call with investors today at 1:30 p.m. (Pacific time). This event will be webcast live in listen-only mode. Listeners may log on to Agilent’s Investor Relations web page and select "Q4 2019 Agilent Technologies Inc. Earnings Conference Call" in the "News & Events – Events" section. The webcast will remain available on the company’s website for 90 days.

Additional financial information can be found at www.investor.agilent.com by selecting "Financial Results" in the "Financial Information" section.