On June 13, 2024 Rezolute, Inc. (Nasdaq: RZLT) ("Rezolute" or the "Company"), a late-stage biopharmaceutical company committed to developing novel, transformative therapies for serious rare diseases, reported that it is commencing an underwritten public offering of shares of its common stock (or pre-funded warrants to purchase its common stock in lieu thereof) (Press release, Rezolute, JUN 13, 2024, View Source [SID1234644306]). In addition, the Company intends to grant the underwriters an option for a period of 30 days to purchase up to an additional 15 percent of the number of shares of its common stock plus the shares of common stock underlying pre-funded warrants sold in connection with the public offering. The public offering is subject to market and other conditions, and there can be no assurance as to whether or when the public offering may be completed or as to the actual size or terms of the public offering. All of the shares in the public offering are being offered by the Company.

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Jefferies and Cantor are acting as the book-running managers for the public offering.

A shelf registration statement on Form S-3 (File No. 333-275562) relating to the securities to be offered in the public offering was filed with the Securities and Exchange Commission (the "SEC") and was declared effective on November 29, 2023. The public offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement related to the public offering will be filed with the SEC and, when available, may be obtained on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering, when available, may be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at 877-821-7388, or by email at [email protected] or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at [email protected]

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

On June 13, 2024 Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) (the "Company" or "Sonnet"), a clinical-stage company developing targeted immunotherapeutic drugs, reported the generation and in vitro characterization of two novel drug candidates, SON-1411 (IL18BPR-FHAB-IL12) and SON-1400 (IL18BPR-FHAB), each containing a modified version of recombinant human interleukin-18 (IL-18BPR). SON-1411 is a proprietary bifunctional fusion protein consisting of IL-18BPR combined with single-chain wild-type IL-12, linked to Sonnet’s Fully Human Albumin Binding (FHAB) platform, which will replace SON-1410 as a development target (Press release, Sonnet BioTherapeutics, JUN 13, 2024, View Source [SID1234644307]). SON-1400 is a monofunctional fusion protein comprising the same IL-18BPR domain linked to the FHAB. FHAB extends the half-life and biological activity of linked molecules by binding native albumin in the serum and targets the tumor microenvironment (TME) through high affinity binding to glycoprotein 60 (gp60) and the Secreted Protein Acidic and Rich in Cysteine (SPARC).

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IL-18 can regulate both innate and adaptive immune responses through its effects on natural killer (NK) cells, monocytes, dendritic cells, T cells, and B cells. IL-18 acts synergistically with other pro-inflammatory cytokines to promote interferon-γ (IFN-γ) production by NK cells and T cells. Systemic administration of IL-18 has been shown to have anti-tumor activity in several animal models. Moreover, tumor-infiltrating lymphocytes (TILs) express more IL-18 receptors than other T cells. However, IL-18 clinical trials have shown that, although it is well tolerated, IL-18 has poor efficacy in the treatment of cancers, most likely due in large part to the high co-expression of IL-18 binding protein (IL-18BP) in the TME. In particular, IL-18BP serves as a "decoy receptor" that binds to IL-18 with higher affinity, compared with the IL-18Rc complex, thereby causing a negative feedback loop with IL-18 and inhibiting IL-18-mediated TIL activation. Thus, there exists a potential for the discovery of IL-18 variant compositions that could harness the therapeutic potential of IL-18 for the treatment of cancers.

Sonnet’s strategy for amino acid modifications to rIL-18 was based on a compilation of literature review, 3D X-ray crystallography structures, and computer modeling analysis. Subsequently, certain IL-18 variant sequences were synthesized, engineered into expression constructs and manufactured at small scale in either CHO cell culture or E. coli. Highly purified milligram quantities of SON-1411 or SON-1400 were analyzed in vitro for IL-18Rc or IL-18BP binding activities, respectively, using the HEK-Blue and Bright-Glo Luciferase IL-18Rc reporter assays. In vitro results for at least one variant of IL-18 showed equivalent binding to the IL-18 Rc, compared to the wild-type IL-18 reference molecule, concomitant with no or reduced binding to IL-18BP.

"The development of a modified IL-18 has been a challenging scientific achievement. IL-18 is a key cytokine that, when combined synergistically with IL-12, has the potential to be an important therapeutic asset for oncology and cell-based therapy. We believe that these novel molecules combined with our proprietary FHAB platform are expected to demonstrate tumor targeting and longer half-lives, which in turn are expected to allow a therapeutic window for commercialization of these important oncology candidates", said Pankaj Mohan, Ph.D., Sonnet Founder and Chief Executive Officer.

"The known MOA of IL-18 inhibition by IL-18BP is reviving the importance of clinical applications of IL-18. IL-18BP has been shown to be elevated in cancer patients, thus negating the clinical use of IL-18. Sonnet is excited about the development of a novel bifunctional cytokine molecule, IL18BPR-FHAB-IL12, which contains a unique IL18 domain that does not bind the inhibitor IL-18BP but still maintains full IL-18 and IL-12 bioactivity. The clinical application of this bifunctional fusion protein could potentially expand immunotherapy applications for cancer patients" commented John Cini, Ph.D., Sonnet Chief Scientific Officer.

About SON-1411

SON-1411 is a candidate immunotherapeutic recombinant drug that is closely related to and will replace SON-1410, which links an unmodified single-chain human IL18 and an unmodified IL-12 with the albumin-binding domain of the single-chain antibody fragment A10m3. The only difference between SON-1410 and SON-1411 is that in the latter, the IL-18 domain has been modified via mutagenesis to retain wildtype binding to the IL-18 receptor (IL-18 Rc) while inhibiting or abolishing binding to the IL-18 binding protein (IL-18 BP). The A10m3 scFv was selected to bind both at normal pH, as well as at the acidic pH that is typically found in the TME. The FHAB technology targets tumor and lymphatic tissue, providing a mechanism for dose sparing and an opportunity to improve the safety and efficacy profile of IL-18 and IL-12, as well as a variety of potent immunomodulators that can be added using the platform. Interleukin-12 can orchestrate a robust immune response to many cancers and pathogens. Given the types of proteins induced in the TME, such as SPARC and gp60, several types of cancer such as non-small cell lung cancer, melanoma, head and neck cancer, sarcoma, and some gynecological cancers are particularly relevant for this approach. SON-1411 is designed to deliver IL-18BPR and IL-12 to local tumor tissue, turning ‘cold’ tumors ‘hot’ by stimulating IFNγ, which activates innate and adaptive immune cell responses and increases the production of Programed Death Ligand 1 (PD-L1) on tumor cells.

On June 12, 2024 Race Oncology Ltd (ASX:RAC, OTC:RAONF) reported that it has hit a new 12-month high on fielding some strong preclinical findings on the efficacy of lead asset bisantrene in treating multiple myeloma (Press release, Race Oncology, JUN 13, 2024, View Source [SID1234644290]).

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Dangerous blood cancer

Multiple myeloma is a dangerous blood cancer caused by uncontrolled proliferation of plasma cells, more common in men over 60. It accounts for 10% of blood cancers and has a 5-year survival rate of 55.6%.

Carfilzomib is an intravenous drug used for relapsed or refractory multiple myeloma, with known cardiotoxicity risks, particularly in patients with pre-existing heart conditions.

When carfilzomib is combined with bisantrene, preclinical studies showed that bisantrene slows disease progression and enhances the efficacy of carfilzomib, offering a potentially safer treatment option.

The studies, performed under contract by Labcorp USA, revealed that bisantrene, both as a single agent and in combination with the standard multiple myeloma treatment carfilzomib – under the trademark Kyprolis, Amgen – effectively slows disease progression in a mouse model.

Bisantrene demonstrated the ability to kill human multiple myeloma cells at clinically relevant concentrations in cell cultures and in mice.

In combination with carfilzomib, the drug showed enhanced activity, which points to a potentially more effective and less cardiotoxic treatment for multiple myeloma patients.

Carfilzomib, although effective, is known for its serious heart toxicity side effects, limiting its use in patients with elevated cardiac risk factors.

Protecting the human heart

In 2021, Race made the groundbreaking discovery that bisantrene can protect human heart muscle cells from carfilzomib’s toxicity.

The mouse model studies showed that bisantrene significantly slowed multiple myeloma disease progression, whereas carfilzomib alone, at the maximum tolerated dosage, showed no single-agent activity.

And the combination of bisantrene and carfilzomib was more effective than bisantrene alone, suggesting a synergistic effect that warrants further investigation as a safer treatment option for multiple myeloma patients.

Next steps

The company plans to conduct additional preclinical studies to investigate the cellular mechanisms responsible for the delayed progression of multiple myeloma and increased survival in mice treated with the bisantrene and carfilzomib combination.

It also aims to complete mouse models of carfilzomib-induced cardiotoxicity to confirm bisantrene’s cardioprotective properties and explore options for clinical studies to evaluate the combination as a more effective and safer treatment for multiple myeloma patients.

Race CEO Dr Daniel Tillett said: "It is always exciting to see the potential clinical utility of bisantrene grow.

"Carfilzomib is a highly active treatment for multiple myeloma but it comes with very serious cardiotoxicity risks.

"The potential for using bisantrene to not only better treat multiple myeloma, but also protect patients from the heart damage caused by carfilzomib, is worthy of further investigation."

On June 13, 2024 Syros Pharmaceuticals (NASDAQ:SYRS), a biopharmaceutical company committed to advancing new standards of care for the frontline treatment of hematologic malignancies, reported that it will host a webcast event with medical experts to discuss the unmet need in higher-risk myelodysplastic syndrome (HR-MDS) and the opportunity for tamibarotene to transform the care of newly diagnosed patients with RARA gene overexpression (Press release, Syros Pharmaceuticals, JUN 13, 2024, View Source [SID1234644308]). The event will take place on Tuesday, June 25, 2024, from 11:00 a.m. – 12:30 p.m. ET.

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Syros is currently evaluating tamibarotene in SELECT-MDS-1, a pivotal Phase 3 clinical trial in HR-MDS patients with RARA overexpression, and in SELECT-AML-1, a Phase 2 clinical trial in unfit acute myeloid leukemia (AML) patients with RARA overexpression. Syros expects to report pivotal complete response data from the SELECT-MDS-1 trial by the middle of the fourth quarter of 2024 and will report clinical activity and tolerability data from a prespecified analysis of over 40 patients from the SELECT-AML-1 trial in the third quarter of 2024.

The webcast event will feature presentations from Amy DeZern, M.D., M.H.S., Professor of Oncology and Medicine, Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins University School of Medicine, Amer Zeidan, M.B.B.S., M.H.S., Chief, Hematologic Malignancies, Yale Cancer Center and Smilow Cancer Hospital; Associate Professor of Medicine (Hematology), Yale School of Medicine and David Sallman, M.D., Myeloid Section Head and Associate Member, Department of Malignant Hematology, H. Lee Moffitt Cancer Center & Research Institute. The speakers will provide a disease overview of HR-MDS, including current therapies and approach to patient management, evaluation of patient outcomes in HR-MDS trials, and the emerging treatment landscape and ongoing areas of unmet need. In addition, members of Syros’ leadership team will provide an overview of RARA overexpression and tamibarotene’s mechanism of action, review the design of the pivotal SELECT-MDS-1 Phase 3 trial, and discuss previously presented clinical data supporting the development of tamibarotene for HR-MDS and the potential commercial opportunity.

There will be an opportunity for Q&A during the presentation. Participants can register for the live webcast here. For participants joining via conference call, please dial (800) 549-8228 (domestic) or (646) 564-2877 (international) and refer to conference ID 68622. In addition, a live webcast of the presentation will be available on the Investors & Media section of the Syros website at www.syros.com. An archived replay of the webcast will be available following the presentation.

On June 13, 2024 UroGen Pharma Ltd. (Nasdaq: URGN), a biotech company dedicated to developing and commercializing novel solutions that treat urothelial and specialty cancers, reported 82.3% (95% CI, 75.9%, 87.1%) 12-month duration of response (DOR) data by Kaplan-Meier estimate (n=108) from its Phase 3 ENVISION trial in patients who achieved complete response (CR) at three months after the first instillation of investigational drug UGN-102 (mitomycin) for intravesical solution (Press release, UroGen Pharma, JUN 13, 2024, View Source [SID1234644309]). The ENVISION trial previously met its primary endpoint by demonstrating that patients treated with UGN-102 had a 79.6% (95% CI, 73.9%, 84.5%) CR rate at three months following the first instillation of UGN-102.

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The ENVISION Phase 3 study is investigating UGN-102 in patients with low-grade intermediate-risk non-muscle invasive bladder cancer (LG-IR-NMIBC). In addition to the 12-month data, the DOR Kaplan Meier estimates at 15 (n=43) and 18 (n=9) months were both 80.9% (95%CI, 73.9%, 86.2%).

"UGN-102 has demonstrated a strong clinical profile across multiple trials, with these latest results of 79.6% three-month complete response rate and 82.3% DOR at 12 months reinforcing its potential to be the first FDA-approved non-surgical option for treatment of LG-IR-NMIBC," said Liz Barrett, President and Chief Executive Officer of UroGen. "We estimate 82,000 patients suffer from this highly recurrent disease in the U.S. each year and may benefit from an innovative approach to treating their disease."

The most common treatment-emergent adverse events (TEAEs) in the ENVISION trial were dysuria, hematuria, urinary tract infection, pollakiuria, fatigue, and urinary retention. TEAEs were typically mild-to-moderate in severity. The ENVISION trial demonstrated a similar safety profile to that observed in other studies of UGN-102.

"These DOR findings continue to support the development of UGN-102 as a non-surgical alternative to the current standard of care of repeated surgeries for LG-IR-NMIBC, which can impact patients’ physical health and quality of life," said Sandip Prasad, MD, M.Phil., Director of Genitourinary Surgical Oncology, Morristown Medical Center/Atlantic Health System, NJ. "These results from the ENVISION study make me very optimistic about the opportunity for UGN-102, if approved, to provide another option for patients living with this highly recurrent disease."

"While LG-IR-NMIBC’s highly recurrent nature often means patients must undergo numerous surgeries throughout their lifetime, I am excited about the potential for patients to better manage the ongoing burden of this disease," said Mark Schoenberg, M.D., Chief Medical Officer, UroGen. "UGN-102, if approved, could provide a minimally invasive option for LG-IR-NMIBC patients whose existing treatment options currently center around repetitive surgeries."

In January 2024, UroGen initiated the submission of a rolling New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for UGN-102 as a treatment for LG-IR-NMIBC. The latest DOR data are expected to support the UGN-102 NDA, which the Company plans to complete in the third quarter of 2024, with a potential FDA decision as early as the first quarter of 2025.

UGN-102 ENVISION DATA Virtual Event

The Company is hosting a data event featuring a panel discussion with leading bladder cancer experts today, Thursday, June 13, 2024, at 11:00 a.m. Eastern Time to discuss results from the Phase 3 ENVISION clinical trial.

Please register for the webinar under the Events & Presentations section of the Company’s Investor Relations site (View Source).

Following the live webcast, a replay will be available on the Company’s website (View Source).

About UGN-102

UGN-102 (mitomycin) for intravesical solution is an innovative drug formulation of mitomycin, currently in Phase 3 development for the treatment of LG-IR-NMIBC. Utilizing UroGen’s proprietary RTGel technology, a sustained release, hydrogel-based formulation, UGN-102 is designed to enable longer exposure of bladder tissue to mitomycin, thereby enabling the treatment of tumors by non-surgical means. UGN-102 is delivered to patients using a standard urinary catheter in an outpatient setting by a trained healthcare professional. UroGen anticipates completing its NDA submission for UGN-102 in the third quarter of 2024 with a potential FDA decision as early as the first quarter of 2025.

About Non-Muscle Invasive Bladder Cancer (NMIBC)

In the U.S. bladder cancer is the second most common urologic cancer in men. LG-IR- NMIBC represents approximately 22,000 newly diagnosed bladder cancer patients each year and an estimated 60,000 recurrences annually among patients diagnosed from previous years. Bladder cancer primarily affects older populations with the median age of diagnosis 73 years and an increased risk of comorbidities. Guideline recommendations for the management of NMIBC include TURBT as the standard of care. Up to 70 percent of NMIBC patients experience at least one recurrence and LG-IR-NMIBC patients are even more likely to recur and face repeated TURBT procedures.

About ENVISION

The Phase 3 ENVISION trial is a single-arm, multinational, multicenter study evaluating the efficacy and safety of UGN-102 (mitomycin) for intravesical solution as primary chemoablative therapy in patients with LG-IR-NMIBC. The Phase 3 ENVISION trial completed target enrollment with approximately 240 patients across 56 sites. Study participants received six once-weekly intravesical instillations of UGN-102. The primary endpoint evaluated the CR rate at the three-month assessment after the first instillation, and the key secondary endpoint evaluated durability over time in patients who achieved a CR at the three-month assessment. Based on discussions with the FDA, UroGen anticipates completing its NDA submission for UGN-102 in the third quarter of 2024. Learn more about the Phase 3 ENVISION trial at www.clinicaltrials.gov (NCT05243550).