On May 2, 2018 City of Hope, a world-renowned independent research and treatment center for cancer and diabetes, reported that it is one of the first treatment centers certified in the United States to administer tisagenlecleucel (commercial name Kymriah) chimeric antigen receptor (CAR) T cell therapy to adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy (Press release, City of Hope, MAY 2, 2018, View Source [SID1234525988]). The U.S. Food and Drug Administration today approved tisagenlecleucel for its second indication, including the treatment of diffuse large B-cell lymphoma (DLBCL), the most common form of NHL, high grade B-cell lymphoma and DLBCL arising from follicular lymphoma.

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City of Hope is the only institution in Southern California to currently offer both tisagenlecleucel, which was approved last year for pediatric patients with refractory or relapsed B cell precursor acute lymphoblastic leukemia (ALL), and axicabtagene ciloleucel (commercial name Yescarta), the second CAR T cell therapy approved by the FDA, solidifying City of Hope’s position as a leader in this newest form of cancer immunotherapy.

"City of Hope has an impressive legacy of innovation in the cancer space, and our role in making the science of CAR T cell therapy a reality is an example of our commitment to helping ensure that patients around the world have access to the most advanced therapies," said Stephen J. Forman, M.D., the Francis & Kathleen McNamara Distinguished Chair in Hematology and Hematopoietic Cell Transplantation, and leader of the Hematologic Malignancies and Stem Cell Transplantation Institute. "Today’s supplemental approval for tisagenlecleucel is yet another important advance in CAR T therapy for non-Hodgkin lymphoma patients. In addition to City of Hope’s own clinical development programs, we are proud to be part of an exclusive group of institutions able to provide every commercial CAR T therapy to patients living with these aggressive and difficult-to-treat cancers, where other treatments have failed."

CAR T Expertise at City of Hope

City of Hope is a recognized leader in the advancement of CAR T cell therapies. City of Hope applies its proprietary CAR T cell technology in active preclinical and clinical programs across a range of hematologic cancers and solid tumors, and collaborates with other academic researchers and global biopharmaceutical companies to advance clinical research in areas of high unmet medical need and make their therapies available to patients.

City of Hope’s history with CAR T cell therapy dates back to the late 1990s. Since then, nearly 200 patients have been treated in CAR T trials at City of Hope; the institution was the first to administer CAR T cell therapy locally in the brain to glioblastoma patients through direct injection to the tumor site and/or through infusion in the ventricular system. City of Hope was also the first to offer CAR T trials targeting CD123 in acute myeloid leukemia.

City of Hope, which has one of the most comprehensive CAR T cell clinical research programs in the world, currently has 14 ongoing CAR T clinical trials and plans to open additional solid tumor trials in 2018 for patients with a variety of cancer types, including trials for patients with primary glioblastoma that expresses HER2 protein, patients with HER2-positive breast cancer with metastatic brain disease and patients with prostate cancer. City of Hope’s unique blend of multidisciplinary specialization – encompassing physicians, nurses and intensive care and transfusion medicine experts sharing stem cell transplant expertise – will also benefit CAR T patients, who require intensive medical care after treatment.

Patients interested in learning more about tisagenlecleucel treatment at City of Hope can call 833-310-CART (2278) or visit View Source

About non-Hodgkin Lymphoma

Lymphoma is the most common form of blood cancer, with Hodgkin lymphoma and non-Hodgkin lymphoma (NHL), which accounts for 4 percent of all cancer diagnoses in the United States, being the two main forms. Sixty percent of all NHL cases in the United States are aggressive NHL, with the most common subtype being DLBCL.

Approximately 74,680 people, both children and adults, are expected to be diagnosed with NHL in 2018, according to the American Cancer Society.

NHL includes multiple different subtypes, all originating in the lymphatic system, and occurs when either B or T cell lymphocytes, a type of white blood cell, become abnormal, causing such painful symptoms as enlarged lymph nodes, fever and fatigue. Refractory, or treatment-resistant, aggressive NHL grow quickly over time. Historically, patients have had about a 50 percent chance of surviving six months. Patients who are ineligible for or relapse after autologous stem cell transplant are eligible to receive tisagenlecleucel.

On May 2, 2018 Morphogenesis, Inc., a Tampa, FL-based immunotherapy company closed a $16 million Series A investment round led by Dr. Kiran Patel and KP Biotech Group, a company managed by Dr. Kiran Patel (Press release, Morphogenesis, MAY 2, 2018, View Source [SID1234526206]). With the completion of the Series A Round, Dr. Kiran Patel was elected Chairman of the Board of Morphogenesis.

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Newly elected Chairman Dr. Patel reacted to the closing by saying, "It’s extremely rewarding to reach this point with the Morphogenesis team who have been pursuing such formidable endeavors in biotechnology that will put Tampa on the map. Interest in this investment was strong but we had to cap at $16M. I have been investing in the Company for over five years now with a strong belief in the work Pat and Mike have undertaken. The successful outcomes from their companion animal and mouse studies have resulted in a green light by the FDA to move into Phase 1b of human clinical trials."

Morphogenesis is a cell and gene therapy company that produces "off-the-shelf" cancer therapies that mark tumor cells for destruction by the immune system. One of the hallmarks of this technology is that it focuses the immune response specifically to tumor cells. Since healthy cells are ignored in the process, and adverse effects are minimized with these therapies. Initially focused on melanoma, the therapies show promise against both liquid and solid tumors of varying types, as both a monotherapy or in combination with other immunotherapies, including checkpoint inhibitors. The Company intends to use the proceeds to fund its Phase 1b human clinical trial at Tampa’s Moffitt Cancer Center and to develop its executive management team.

Year on year, Morphogenesis continues to reach major milestones towards their goal of human cancer treatments. Last year, Morphogenesis augmented its portfolio with three US patent awards. The Company also made applications for patent protection in Europe, Japan, Australia, Canada, China, Hong Kong. These patents are an important component of Morphogenesis’ exclusive intellectual property portfolio that includes more than 25 issued patents and patent applications.

Morphogenesis CEO Patricia Lawman commented on the closing, "We’ve been concentrating on immunotherapies since 2005 and through so many successful outcomes with naturally-occurring cancers in companion animals and horses, we’ve learned a great deal about the potential in human treatment and look forward to getting our trials started."

Skyway Capital Markets, LLC acted as Placement Agent for the offering.

On May 1, 2018 Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD), a commercial biotechnology company, reported on its first quarter 2018 results and recent business activities (Press release, Ironwood Pharmaceuticals, MAY 1, 2018, View Source;p=irol-newsArticle&ID=2345875 [SID1234525897]).

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"Ironwood’s first quarter results reflect year-over-year topline growth of 33%, significant commercial and pipeline progress, and continued financial discipline," said Peter Hecht, chief executive officer of Ironwood. "LINZESS continued to demonstrate strong demand, with 15% year-over-year prescription volume growth. We believe we have alignment on Phase III design for IW-3718 following a productive end of Phase II meeting with the FDA and expect to initiate the IW-3718 trials in the third quarter of 2018. In addition, we continue to make good progress advancing our four Phase II trials with praliciguat and olinciguat, our lead clinical sGC stimulators."

First Quarter 2018 and Recent Highlights

Irritable Bowel Syndrome with Constipation (IBS-C) / Chronic Idiopathic Constipation (CIC)

U.S. LINZESS. U.S. net sales, as reported by Ironwood’s U.S. collaboration partner Allergan plc, were $159.3 million in the first quarter of 2018, an 8% increase compared to the first quarter of 2017. Ironwood and Allergan share equally in brand collaboration profits.
LINZESS commercial margin was 63% in the first quarter of 2018 compared to 52% in the first quarter of 2017.
Net profit for the LINZESS U.S. brand collaboration, net of commercial and research and development (R&D) expenses, was $88.8 million in the first quarter of 2018, a 43% increase compared to the first quarter of 2017.
Total LINZESS prescription volume in the first quarter of 2018 included approximately 30 million LINZESS capsules, an 15% increase in capsules compared to the first quarter of 2017, per IQVIA.
More than 764,000 total LINZESS prescriptions were filled in the first quarter of 2018, an approximately 9% increase compared to the first quarter of 2017, per IQVIA.
Since the launch of LINZESS in December 2012, greater than 2 million unique patients have filled approximately 10.6 million prescriptions, per IQVIA.
In January 2018, Ironwood and Allergan reached an agreement with wholly-owned subsidiaries of Sun Pharmaceutical Industries Ltd. (Sun Pharma, including its subsidiaries and/or associated companies), resolving patent litigation brought in response to Sun Pharma’s abbreviated new drug application (ANDA) seeking approval to market a generic version of LINZESS prior to the expiration of the companies’ patents. Pursuant to the terms of the settlement, Ironwood and Allergan will grant the wholly-owned subsidiaries of Sun Pharma a license to market a generic version of LINZESS in the U.S. beginning on February 1, 2031 (subject to U.S. FDA approval), unless certain limited circumstances, customary for settlement agreements of this nature, occur. As a result of the settlement, all Hatch-Waxman litigation between the companies and Sun Pharma regarding LINZESS patents has been dismissed.
Additional Abdominal Symptom Claims. Ironwood and Allergan expect to initiate a single Phase III trial with LINZESS in mid-2018 to evaluate its efficacy for relief of additional abdominal symptoms, including bloating and discomfort, two highly bothersome symptoms associated with IBS-C.
Linaclotide Delayed Release. An estimated 20 to 25 million patients suffer from IBS-mixed and IBS with diarrhea in the U.S. Ironwood and Allergan plan to advance into a Phase IIb clinical trial a linaclotide delayed release formulation as a potential visceral, non-opioid, pain-relieving agent for patients suffering from all subtypes of IBS. The companies are in active discussions with the U.S. FDA about this program.
LINZESS-Japan. Ironwood reported $5.4 million in sales of linaclotide active pharmaceutical ingredient (API) to its Japanese partner, Astellas Pharma Inc. in the first quarter of 2018.
Uncontrolled Gout

DUZALLO (lesinurad and allopurinol) and ZURAMPIC (lesinurad). Ironwood is systematically exploring a more comprehensive marketing mix for its lesinurad franchise, including DUZALLO and ZURAMPIC, in select test markets (with paired controls), while continuing to expand affordable access across the country. The data received from these test markets in 2018 are expected to inform our lesinurad franchise investment decisions. Combined U.S. net sales were $0.6 million in the first quarter of 2018.
Persistent Gastroesophageal Reflux Disease (GERD)

IW-3718. Ironwood is actively working to advance IW-3718, its gastric retentive formulation of a bile acid sequestrant for the potential treatment of persistent GERD, into Phase III trials. There are an estimated 10 million Americans who suffer regularly from symptoms of persistent GERD, such as heartburn and regurgitation, despite receiving treatment with the current standard of care, proton pump inhibitors.
Following a series of productive meetings with the U.S. FDA, Ironwood expects to initiate two randomized, placebo-controlled Phase III trials for IW-3718 in the third quarter of 2018. These trials are expected to evaluate the safety and efficacy of IW-3718 1500mg in patients with persistent GERD. The two trials are expected to enroll less than 800 patients each, with heartburn severity response as the primary endpoint. Further details on study design and endpoints will be provided upon the initiation of the trials.
Diabetic Nephropathy and Heart Failure with Preserved Ejection Fraction (HFpEF)

Praliciguat (IW-1973). Ironwood is enrolling patients in Phase II tirals to evaluate praliciguat, its lead soluble guanylate cyclase (sGC) stimulator, for the potential treatment of serious diseases, including diabetic nephropathy and HFpEF. Both diseases affect millions of patients around the world, including an estimated eight million Americans suffering from diabetic nephropathy and an estimated three million Americans suffering from HFpEF. Diabetic nephropathy is the leading cause of end-stage renal disease. There are few treatment options available to delay the steady decline of renal function leading to dialysis or kidney transplant. HFpEF is a highly symptomatic condition with high rates of morbidity and mortality, with no approved treatments available.
Diabetic nephropathy. Ironwood expects to enroll approximately 150 patients into a randomized, double-blind, placebo-controlled, dose-ranging Phase II trial designed to evaluate the safety and efficacy of praliciguat in patients with diabetic nephropathy.
HFpEF. Ironwood expects to enroll approximately 325 patients into a randomized, double-blind, placebo-controlled, dose-ranging Phase II trial designed to evaluate the safety and efficacy of praliciguat in patients with HFpEF.
Sickle Cell Disease and Achalasia

Olinciguat (IW-1701). Ironwood is enrolling patients in Phase II trials to evaluate olinciguat, its second clinical sGC stimulator, for the potential treatment of sickle cell disease and of achalasia. Sickle cell disease is a rare, debilitating genetic disorder that affects approximately 100,000 Americans and causes red blood cells to become sickle-shaped, reducing normal red blood cell number. Achalasia is a rare disease with a prevalence rate of 10/100,000 Americans in which the lower esophagus does not relax normally, causing dysphagia (swallowing problems), regurgitation, and chest pain.
Sickle Cell Disease. Ironwood expects to enroll approximately 80 patients into a multicenter, randomized, double-blind, placebo-controlled, dose-ranging Phase II trial of olinciguat in patients with sickle cell disease. The Phase II trial is designed to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of olinciguat in these patients.
Achalasia. Ironwood continues to enroll patients into a randomized, double-blind, placebo-controlled, single-dose Phase IIa study of olinciguat in patients with achalasia. This study is designed to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of olinciguat in these patients. Data from this study are expected in 2018.
Corporate and Financials

Total Revenues
Total revenues were $69.2 million in the first quarter of 2018 compared to $52.2 million in the first quarter of 2017. Included in total revenues was $61.2 million associated with Ironwood’s share of the net profits from the sales of LINZESS in the U.S., $5.4 million in sales of linaclotide API to Astellas, $0.6 million in ZURAMPIC and DUZALLO product revenue, and $2.0 million in linaclotide royalties, co-promotion and other revenue.
Operating Expenses
Operating expenses were $105.0 million in the first quarter of 2018, compared to $91.8 million in the first quarter of 2017. Operating expenses in the first quarter of 2018 included $2.6 million in cost of revenues, $36.5 million in R&D expenses, $61.9 million in selling, general and administrative (SG&A) expenses, of which $2.4 million related to Ironwood’s field-based workforce reduction in January 2018, $3.5 million in acquired intangible assets amortization expenses, and a $0.5 million loss on fair value remeasurement of contingent consideration.
Contingent consideration and amortization of acquired intangible assets relate to Ironwood’s license agreement with AstraZeneca for the exclusive U.S. rights to all products containing lesinurad.
Other Expense
Interest Expense. Net interest expense was $8.6 million in the first quarter of 2018, primarily in connection with the $150 million 8.375% Notes funded in January 2017 and the approximately $336 million convertible debt financing funded in June 2015. Interest expense recorded in the first quarter of 2018 includes $5.0 million in cash expense and $4.2 million in non-cash expense.
Gain on Derivatives. Ironwood recorded a gain on derivatives related to the change in fair value of the convertible note hedges and note hedge warrants issued in connection with the convertible debt financing funded in June 2015. A gain on derivatives of $1.3 million was recorded in the first quarter of 2018.
Net Loss
GAAP net loss was $43.1 million, or $0.29 per share, in the first quarter of 2018, compared to a net loss of $52.5 million, or $0.36 per share, in the first quarter of 2017.
Non-GAAP net loss was $40.5 million, or $0.27 per share, in the first quarter of 2018, compared to $48.3 million, or $0.33 per share, in the first quarter of 2017. Non-GAAP net loss excludes the impact of mark-to-market adjustments on the derivatives related to Ironwood’s convertible debt, as well as the amortization of acquired intangible assets and the fair value remeasurement of contingent consideration related to Ironwood’s U.S. lesinurad license. See Non-GAAP Financial Measures below.
Cash Position
Ironwood ended the first quarter of 2018 with approximately $194.4 million of cash, cash equivalents and available-for-sale securities. Ironwood used approximately $30.9 million of cash for operations during the first quarter of 2018.
Non-GAAP Financial Measures
The company presents non-GAAP net loss and non-GAAP net loss per share to exclude the impact of net gains and losses on the derivatives related to our convertible notes that are required to be marked-to-market, as well as the amortization of acquired intangible assets and the fair value remeasurement of contingent consideration associated with Ironwood’s U.S. license agreement with AstraZeneca for the exclusive rights to all products containing lesinurad. The derivative gains and losses may be highly variable, difficult to predict and of a size that could have a substantial impact on the company’s reported results of operations in any given period. The acquired intangible assets are valued as of the date of acquisition and are amortized over their estimated economic useful life, and management believes excluding the amortization of acquired intangible assets provides more consistency with the treatment of internally developed intangible assets for which research and development costs were previously expensed. The contingent consideration balance is remeasured each reporting period, and the resulting change in fair value impacts the company’s reported results of operations. The changes in the fair value remeasurement of contingent consideration do not correlate to the company’s actual cash payment obligations in the relevant period. Management believes this non-GAAP information is useful for investors, taken in conjunction with Ironwood’s GAAP financial statements, because it provides greater transparency and period-over-period comparability with respect to Ironwood’s operating performance. These measures are also used by management to assess the performance of the business. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP. In addition, these non-GAAP financial measures are unlikely to be comparable with non-GAAP information provided by other companies. For a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures, please refer to the table at the end of this press release.

Conference Call Information
Ironwood will host a conference call and webcast at 8:30 a.m. Eastern Time on Tuesday, May 1, 2018 to discuss its first quarter 2018 results and recent business activities. Individuals interested in participating in the call should dial (877) 643-7155 (U.S. and Canada) or (914) 495-8552 (international) using conference ID number 9859406. To access the webcast, please visit the Investors section of Ironwood’s website at www.ironwoodpharma.com at least 15 minutes prior to the start of the call to ensure adequate time for any software downloads that may be required. The call will be available for replay via telephone starting at approximately 11:30 a.m. Eastern Time, on May 1, 2018 running through 11:59 p.m. Eastern Time on May 8, 2018. To listen to the replay, dial (855) 859-2056 (U.S. and Canada) or (404) 537-3406 (international) using conference ID number 9859406. The archived webcast will be available on Ironwood’s website for 14 days beginning approximately one hour after the call has completed.

On May 1, 2018 Kura Oncology, Inc. (Nasdaq:KURA), a clinical-stage biopharmaceutical company focused on the development of precision medicines for oncology, reported that it will report first quarter 2018 financial results after the close of U.S. financial markets on Tuesday, May 8, 2018 (Press release, Kura Oncology, MAY 1, 2018, View Source [SID1234525915]). Kura’s management will host a webcast and conference call at 4:30 p.m. ET / 1:30 p.m. PT that day to discuss the financial results and provide a corporate update.

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The live call may be accessed by dialing 877-516-3514 for domestic callers and 281-973-6129 for international callers and entering the conference code: 7199738. A live webcast and archive of the call will be available online from the investor relations section of the company website at www.kuraoncology.com.

On May 1, 2018 Juniper Pharmaceuticals (Nasdaq:JNP) ("Juniper" or the "Company"), reported that it will hold a conference call on May 10, 2018, to discuss the financial results for the first quarter ended March 31, 2018, as follows (Press release, Juniper Pharmaceuticals, MAY 1, 2018, View Source [SID1234525933]):

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Date: May 10, 2018

Time: 8:30 a.m. EST

Dial-in numbers: Toll free: (1-866-374-4635) (U.S.), (1-855-669-9657) (Canada), or

International: (1-412-902-4218)

Audio webcast (live & archive): www.juniperpharma.com, under ‘Investors’ or click here.

The teleconference replay will be available approximately one hour after completion through Thursday, March 15, 2018, at 1-877-344-7529 (U.S.), 1-855-669-9658 (Canada) or 1-412-317-0088 (International). The replay access code is 10119657.

The archived webcast will be available for one year via the aforementioned URLs.