Cellectis to Report Second Quarter 2022 Financial Results

On July 28, 2022 Cellectis (Euronext Growth: ALCLS – Nasdaq: CLLS), a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies, reported that it will report financial results for the second quarter ended June 30th, 2022, on Thursday, August 4th, 2022, after the close of the US market (Press release, Cellectis, JUL 28, 2022, View Source [SID1234617068]).

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The announcement will be followed by a conference call and webcast on Friday, August 5th, 2022, at 8:00 AM EDT / 2:00 PM CET. The call will include the Company’s second quarter results and an update on business activities.

Moleculin Concludes Phase 1b and Opens Recruitment in Phase 2 Clinical Trial of
Annamycin for the Treatment of Soft Tissue Sarcoma Lung Metastases

On July 28, 2022 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, reported it has completed the safety review of the fourth cohort in a dose escalation clinical trial evaluating Annamycin for the treatment of soft tissue sarcoma (STS) lung metastases, thus concluding the Phase 1b portion of its U.S. Phase 1b/2 clinical trial (Press release, Moleculin, JUL 28, 2022, View Source [SID1234617084]). Preliminary results from the study continue to document clinical activity for Annamycin in the treatment of STS. The safety review committee (SRC) has deemed the dose of 390 mg/m2 to be safe after conclusion of the fourth cohort. Notwithstanding that there was safety at this dose level, tolerability issues present at the 390 mg/m2 dose level caused delays in follow-on cycles and the reduction of subsequent doses, suggesting that a Recommended Phase 2 Dose (RP2D) below 390 mg/m2 was warranted.

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With this in mind and with the recommendation of the SRC, the Company has determined that the RP2D will be 360 mg/m2 for the first three subjects in the Phase 2 portion of the study. The SRC will then review the clinical safety data at this dose and determine whether the RP2D should be further reduced to 330 mg/m2 prior to proceeding with the additional 22 subjects. In addition to continuing to assess safety, including gathering additional information about short-term side effects and possible risks, this Phase 2 portion of the study will also explore the efficacy of Annamycin as a single agent for the treatment of subjects with STS lung metastases for whom prior chemotherapy has failed, and for whom new chemotherapy is considered appropriate.

In the Phase 1b portion of the study, 15 subjects were enrolled and treated per the protocol in four cohorts to determine the maximum tolerable dose and/or the RP2D. Each cohort had three subjects, except for the fourth cohort, which (per the protocol) was expanded to six subjects after a dose-limiting toxicity (DLT) occurred in a single subject. The Company concluded the Phase 1b portion after the fourth cohort of 390 mg/m2 was documented to be safe. Up to 28 subjects, to account for potential over enrollment, will be enrolled at the RP2D in Phase 2 to focus more on quantifying efficacy as well as providing additional safety information.

"As we end the Phase 1b portion of this trial, the preliminary data continue to be encouraging," said Moleculin Chairman and CEO Walter Klemp. "Of the fifteen subjects treated per the protocol, two continue with treatment, and eight subjects have been followed without evidence of disease progression for two months or greater, with three of the eight free of disease progression for 120 days or more. These data are early-stage, and we look forward to developing confirmatory data from future studies. However, based on the data available thus far, we believe Annamycin has the potential to bring a new and effective treatment option to patients with significant unmet needs."

Mr. Klemp added, "We’re also encouraged by the pace of recruitment to date for this trial. To have completed the Phase 1b in just over one year was faster than we expected, especially for a rare disease like STS lung metastases. This is encouraging as we open the Phase 2 portion of the study."

The summary of interim Phase 1b data, which are preliminary and subject to change, from the four cohorts of the study are as follows:

First Cohort (210 mg/m2):

Two subjects received 6 cycles of Annamycin, initially having stable disease, and were then discontinued due to progressive disease.
One subject received 1 cycle, but then discontinued from the study because of a Dosing Delay greater than the time between doses permitted by the protocol. At the End of Study scan performed 39 days post initiation of treatment, the subject had stable disease. The subject was followed and continued to exhibit disease free progression up to 61 days after treatment, at which point the subject began a different therapy.
Second Cohort (270 mg/m2):

In one subject, the end of cycle 2 scan showed a partial response (≥30% reduction in tumor size), and when scanned at the end of cycle 4 the subject showed stable disease. The subject subsequently discontinued from the study, electing to undergo surgical resection to potentially eradicate the disease. The subject is continuing to be followed and at the last follow-up no disease progression was reported at 272 days.
One subject was discontinued from the study when the end of cycle 2 scan revealed progressive disease.
One subject received 1 cycle of treatment and discontinued treatment due to a Dosing Delay. The End of Study scan revealed progressive disease.
Third Cohort (330 mg/m2):

One subject received 1 cycle and was discontinued when an interim, unscheduled scan revealed progressive disease.
One subject was discontinued from the study when the end of cycle 2 scan revealed progressive disease.
One subject was treated with 2 cycles and the end of cycle 2 scan revealed stable disease. The subjected elected to withdraw from receiving any further treatment. The subject was followed and no disease progression was reported at 146 days. The subject elected at that time to discontinue from further follow-up in the study.
Fourth Cohort (390 mg/m2):
Efficacy data for this cohort are incomplete as not all subjects have received their scans and treatment is ongoing.

One subject received 3 cycles of treatment without evidence of any DLTs, with the last 2 cycles at a reduced dose of 292 mg/m2 due to a drug tolerability issue that did not qualify as a DLT. The subject exhibited stable disease at the end of cycle 2. The subject showed progressive disease in the end of treatment scan on the 78th day.
One subject was discontinued from the study after 2 cycles with cycle 2 administered at a reduced dose of 292 mg/m2. The subject discontinued receiving cycles because of a DLT of febrile neutropenia, and the cohort was expanded per the protocol. The end of cycle 2 scan revealed stable disease. The subject initiated additional therapy unrelated to the study on the 68th day and will continue to be followed for Overall Survival.
One subject received 3 cycles of treatment without evidence of any DLTs, with the last 2 cycles administered at reduced doses, due to drug tolerability. The subject exhibited stable disease at the end of cycle 2. The subject showed progressive disease in an unscheduled scan on the 79th day.
One subject received 4 cycles without evidence of any DLTs, with the last three cycles administered at a reduced dose of 292 mg/m2, due to drug tolerability. The end of cycle 4 scans revealed stable disease. The subject is ongoing in the study.
One subject received 3 cycles without evidence of any DLTs, with the last two cycles administered at a reduced dose of 292 mg/m2, due to drug tolerability. The end of cycle 2 scans revealed stable disease. The subject is ongoing in the study.
One subject received 1 cycle without evidence of any dose-limiting toxicities and is ongoing in the study.
One subject received a markedly lower dose than the specified 390 mg/m2 in a protocol violation by the site, also without evidence of any DLTs. That subject’s safety data, but not efficacy, is deemed to be evaluable in the study.
"Consistent with our earlier and ongoing acute myeloid leukemia trials, in the subjects evaluated to date we have seen a complete absence of cardiotoxicity in our trials," Mr. Klemp said. "Again, these are early-stage data, but we’re seeing consistent results in this regard across our Annamycin studies, and we think they’re important because, even though anthracyclines are considered a cornerstone chemotherapy for many types of cancer including STS lung metastases, all currently approved anthracyclines are significantly cardiotoxic. Annamycin was designed to overcome this problem and we believe it has the potential to become the first non-cardiotoxic anthracycline approved for use. If these data continue and our product is approved, Annamycin may not only reduce the risk of many current anthracycline treatment regimens, but it could also enable longer treatment periods with reduced concern for cardiac risk."

Annamycin currently has Fast Track Status and Orphan Drug Designation from the U.S. Food and Drug Administration for the treatment of soft tissue sarcoma, in addition to Orphan Drug Designation for the treatment of relapsed or refractory acute myeloid leukemia. For more information about the Phase 1b/2 study evaluating Annamycin for the treatment of STS lung metastases, please visit clinicaltrials.gov and reference identifier NCT04887298.

Study Design
In Phase 1b, Annamycin was administered as an intravenous (IV) infusion over 2 hours on Day 1, followed by 20 days off (1 cycle = 21 days). Subjects visit the study site every 21 days (±3 days) at which time safety monitoring – including for adverse events (AEs), as well as a physical examination, laboratory evaluations (clinical chemistry, complete blood count), vital signs, weight measurements, Eastern Cooperative Oncology Group (ECOG) performance status, and electrocardiograms (ECGs) – is performed, followed by an IV infusion of study drug. Cardiac function is followed by echocardiogram (ECHO) scans at screening, at the end of the first two cycles and then following every other cycle thereafter, at the End of Treatment visit, and if feasible, during follow up at 6 months (±1 month) and 1 year (±1 month) after study drug discontinuation. As long as the Investigator considers that the benefits of treatment with Annamycin continue to outweigh the risks, treatment will continue every 21 days until tumor progression is observed or unacceptable toxicity occurs.

Tumor response is monitored every 6 weeks (±1 week) from Cycle 1 Day 1 during treatment, at the End of Treatment visit, and then every 3 months (±1 month) until disease progression using RECIST 1.1 criteria. Those subjects who leave the study after a maximum response is achieved and who do not start another therapy will be followed every 3 months (±1 month) for progression-free survival (PFS). If a subject receives further therapy after discontinuing from the study, they will be followed only for overall survival (OS) and if feasible, follow-up ECHO scans at 6 months (±1 month) and 1 year (±1 month) will be conducted after study drug discontinuation.

About Annamycin
Annamycin is the Company’s next-generation anthracycline that has been shown in animal models to accumulate in the lungs at up to 30-fold the level of doxorubicin. Importantly, Annamycin has also demonstrated a lack of cardiotoxicity in multiple early-stage human clinical trials, including ongoing trials for the treatment of acute myeloid leukemia (AML) and STS lung metastases. For that reason, although additional data will be necessary, the Company believes Annamycin may not face the same usage limitations imposed on doxorubicin, one of the most common currently approved anthracyclines. Annamycin is currently in development for the treatment of AML and STS lung metastases and the Company believes the drug may have the potential to treat additional indications.

West Announces Second-Quarter 2022 Results

On July 28, 2022 West Pharmaceutical Services, Inc. (NYSE: WST) reported its financial results for the second-quarter 2022 and updated full-year 2022 financial guidance (Press release, West Pharmaceutical Services, JUL 28, 2022, View Source;utm_medium=Email&utm_campaign=Investors_Email&utm_content=28_July_2022&utm_source=West+Pharmaceutical+Services%2C+Inc.&utm_campaign=f7424fcbb0-EMAIL_CAMPAIGN_2022_03_31_10_50_COPY_01&utm_medium=email&utm_term=0_4b4b77d239-f7424fcbb0-584006100&ct=t(EMAIL_CAMPAIGN_5_12_2022_16_15_COPY_01)#west-announces-second-quarter-2022-results [SID1234617100]).

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Second-Quarter 2022 Summary (comparisons to prior-year period)

Net sales of $771.3 million grew 6.6%; organic net sales growth was 13.1%.
Reported-diluted EPS of $2.48, compared to $2.47 in the same period last year.
Adjusted-diluted EPS of $2.47, compared to $2.46 in the same period last year.
The Company is updating full-year 2022 net sales guidance to a range of $2.950 billion to $2.975 billion, compared to a prior range of $3.050 billion to $3.075 billion, to reflect changes in foreign currency rates and a decline in expected COVID-19 related net sales.
The Company is updating full-year 2022 adjusted-diluted EPS guidance to a new range of $9.00 to $9.15, compared to a prior range of $9.30 to $9.45.
"We delivered excellent second-quarter results with Proprietary Products organic net sales growth in the high-teens, led by demand for our high-value products (HVPs)," said Eric M. Green, President, Chief Executive Officer and Chair of the Board. "Our base business continues to be strong, reflecting our team’s successful execution of strategic initiatives and dedication to improving patient lives. In the quarter, COVID-19 related net sales slightly declined. While we expect further declines in COVID-19 related demand over the next two quarters, we also anticipate a more robust base business. We remain on track to expand our global HVP manufacturing capacity to support increased demand across our Biologics, Generics and Pharma market units."

Proprietary Products Segment
Net sales grew by 11.3% to $653.7 million. Organic net sales growth was 18.3%, with currency translation decreasing sales growth by 700 basis points. HVP sales represented over 70% of segment sales and generated double-digit organic sales growth, led by customer demand for NovaPure, Envision and Daikyo Crystal Zenith components and for self-injection devices.

The Biologics and Generics market units had double-digit organic sales growth, and the Pharma market unit had mid-single digit organic sales growth.

Contract-Manufactured Products Segment
Net sales declined by 13.6% to $117.8 million. Organic net sales declined by 8.9% with currency translation decreasing sales growth by 470 basis points. Segment sales declined primarily due to a decrease in sales of components for diagnostic devices.

Financial Highlights (first six months of 2022)
Operating cash flow was $324.3 million, an increase of 39.1%. Capital expenditures were $131.9 million, an increase of 18.2% over the same period last year. Free cash flow (operating cash flow minus capital expenditures) was $192.4 million, an increase of 58.4%.

During the first-half 2022, the Company repurchased 476,667 shares for $175.7 million at an average share price of $368.54 under its share repurchase program.

Full-Year 2022 Financial Guidance

Full-year 2022 net sales are expected to be in the range of $2.950 billion to $2.975 billion, compared to a prior guidance range of $3.050 billion to $3.075 billion.
Organic sales growth is expected to be approximately 11%, compared to a prior guidance range of 11% to 12%.
The Company expects a full-year decline in COVID-19 related sales of approximately 20%, or $85 million less than 2021 sales, compared to prior expectation of year-over-year growth. Higher base business sales are expected to partially offset the decline in COVID-19 related sales.
Net sales guidance, based on current foreign currency exchange rates, includes an estimated full-year 2022 headwind of $190 million, compared to prior guidance of a $115 million headwind.
Full-year 2022 adjusted-diluted EPS is expected to be in the range of $9.00 to $9.15, compared to a prior guidance range of $9.30 to $9.45.
The full-year adjusted-diluted EPS guidance range, based on current foreign currency exchange rates, includes an estimated headwind of $0.55, compared to a prior guidance of a $0.38 headwind.
The revised guidance includes a $0.13 EPS positive impact from first-half 2022 tax benefits from stock-based compensation.
For second-half 2022, our EPS guidance range assumes a tax rate of 23% and does not include potential tax benefits from stock-based compensation. Any tax benefits associated with stock-based compensation beyond those recorded in first-half 2022 would provide a positive adjustment to our full-year adjusted-diluted EPS guidance.
Full-year 2022 capital spending is expected to be $380 million, unchanged from prior guidance. This includes incremental capital spending to support capacity expansions at existing HVP facilities.
Second-Quarter 2022 Conference Call
The Company will host a conference call to discuss the results and business expectations at 9:00 a.m. Eastern Time today. The live audio-only webcast will be made available via the Company’s Investor Relations website at https://bit.ly/3cgSM9S.

To participate and ask questions during the conference call, you must register in advance at https://bit.ly/3z4iU0g. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that will be used to access the call.

Management will refer to a slide presentation during the call, which will be made available on the day of the call. To view the presentation, select "Presentations" in the "Investors" section of the Company’s website.

A replay of the conference call and webcast will be available on the Company’s website for 30 days.

Corvus Pharmaceuticals to Provide Business Update and Report Second Quarter 2022 Financial Results on August 8, 2022

On July 28, 2022 Corvus Pharmaceuticals, Inc. (Nasdaq: CRVS), a clinical-stage biopharmaceutical company, reported that the Company will host a conference call and webcast on August 8, 2022 at 4:30 pm ET (1:30 pm PT) to provide a business update and report second quarter 2022 financial results (Press release, Corvus Pharmaceuticals, JUL 28, 2022, View Source [SID1234617117]).

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The conference call can be accessed by 1-844-825-9789 (toll-free domestic) or 1-412-317-5180 (international) and using the conference ID 10169996. The live webcast may be accessed via the investor relations section of the Corvus website. A replay of the webcast will be available on Corvus’ website for 90 days.

Invitation to MorphoSys’ Second Quarter and First Half Year 2022 Results Conference Call on August 4, 2022

On July 28, 2022 MorphoSys AG (FSE: MOR; NASDAQ: MOR) reported that it will publish its results for the second quarter and first half year 2022 results on August 3, 2022 at 10:00 pm CEST (9:00 pm BST; 4:00 pm EDT) (Press release, MorphoSys, JUL 28, 2022, View Source [SID1234617138]).

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MorphoSys’ Management team will host a conference call and webcast on August 4, 2022 at 2:00 pm CEST (1:00 pm BST; 8:00 am EDT) to present the second quarter and first half year financial results 2022 and provide an outlook for 2022.
The conference call will start with a presentation by the Management team followed by a Q&A session.
A live webcast and slides will be made available at the Investors section on MorphoSys’ website, www.morphosys.com.

Please dial in 10 minutes before the beginning of the conference.
A replay of the conference will also be available at the corporate website following the live event.