On August 2, 2022 Syndax Pharmaceuticals, Inc. (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, reported that it will report its second quarter 2022 financial results on Monday, August 8, after the close of the U.S. financial markets (Press release, Syndax, AUG 2, 2022, View Source [SID1234617280]).

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In connection with the earnings release, Syndax’s management will host a conference call and live audio webcast at 4:30 p.m. ET on Monday, August 8, 2022 to discuss the Company’s financial results and provide a corporate update.

The live audio webcast and accompanying slides may be accessed through the Events & Presentations page in the Investors section of the Company’s website. Alternatively, the conference call may be accessed through the following:

For those unable to participate in the conference call or webcast, a replay will be available on the Investors section of the Company’s website at www.syndax.com approximately 24 hours after the conference call and will be available for 90 days following the call.

On August 2, 2022 Agenus (NASDAQ: AGEN), an immuno-oncology company with an extensive pipeline of therapeutics designed to activate the immune response to cancers and infections, reported the Company will attend the BTIG Biotechnology Conference (Press release, Agenus, AUG 2, 2022, View Source [SID1234617296]). Agenus will participate virtually and host one-on-one meetings with investors following its second quarter 2022 corporate update on the morning of August 9.

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On August 2, 2022 ViewRay, Inc. (Nasdaq: VRAY) (the "Company") reported financial results for the second quarter ended June 30, 2022 (Press release, ViewRay, AUG 2, 2022, View Source [SID1234617312]).

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Second Quarter 2022 Highlights

Total revenue for the second quarter 2022 was approximately $22.1 million, primarily from three revenue units and one upgrade, compared to approximately $15.0 million, primarily from two revenue units, in the second quarter of 2021.
Received eight new orders for MRIdian systems totaling $46.3 million, compared to seven new orders totaling $37.9 million in the second quarter 2021.
Total backlog increased to $352.8 million as of June 30, 2022, compared to approximately $278.4 million as of June 30, 2021.
Cash and cash equivalents, inclusive of a customer deposit reflected in restricted cash was $160.7 million as of June 30, 2022. Cash usage for the three months ended June 30, 2022 was approximately $22.5 million.
"Our clinical, innovation, and commercial pipelines have never been stronger and each are accelerating. Business momentum is increasing as rapid revenue growth is translating into significant gross margin expansion. With tight expense discipline, we believe that we have the balance sheet required to get to cash flow breakeven," said Scott Drake, President and CEO. "We also believe that our clinical data and our MRIdian footprint make this the right time to commence targeted market awareness efforts. We’re excited to partner with Katie Couric and her team to spread awareness that short-course, non-invasive treatment with fewer side effects and better quality of life for cancer patients is available today at MRIdian centers."

Three Months Ended June 30, 2022 Financial Results

Total revenue for the three months ended June 30, 2022 was $22.1 million compared to $15.0 million for the same period last year.

Total cost of revenue for the three months ended June 30, 2022 was $21.1 million compared to $16.7 million for the same period last year.

Total gross profit for the three months ended June 30, 2022 was $1.1 million, compared to a gross loss of $1.7 million for the same period last year.

Total operating expenses for the three months ended June 30, 2022 were $30.9 million, inclusive of a $1.8 million impairment charge, compared to $24.8 million for the same period last year.

Net loss for the three months ended June 30, 2022 was $27.6 million, or $(0.15) per share, compared to $31.0 million, or $(0.19) per share, for the same period last year.

ViewRay’s total cash and cash equivalents, inclusive of a customer deposit reflected in restricted cash, was $160.7 million as of June 30, 2022.

Six Months Ended June 30, 2022 Financial Results

Total revenue for the six months ended June 30, 2022 was $41.0 million compared to $30.6 million for the same period last year.

Total gross profit for the six months ended June 30, 2022 was $1.2 million, compared to a gross loss of $1.4 million for the same period last year.

Total operating expenses for the six months ended June 30, 2022 were $58.4 million, inclusive of a $1.8 million impairment charge, compared to $49.8 million for the same period last year.

Net loss for the six months ended June 30, 2022 was $53.4 million, or $(0.30) per share, compared to $57.7 million, or $(0.36) per share, for the same period last year.

Financial Guidance

The Company updated its 2022 guidance of total revenue by raising the bottom end of the range from $84 million to $90 million, while reiterating the top end of the range of $104 million. The Company also reiterated total cash usage to be in the range of $68 million to $83 million.

Conference Call and Webcast

ViewRay will hold a conference call to discuss results on Tuesday, August 2, 2022 at 4:30 p.m. ET / 1:30 p.m. PT. The dial-in numbers are (646) 307-1952 for domestic callers and (888) 672-2415 for international callers. The conference ID number is 7750966. A live webcast of the conference call will be available on the investor relations page of ViewRay’s corporate website at View Source

After the live webcast, a replay will remain available online on the investor relations page of ViewRay’s website, under "Financial Events and Webinars", for 14 days following the call. In addition, a telephonic replay of the call will be available until August 16, 2022. (800) 770-2030 for domestic callers and (609) 800-9909 for international callers. Please use the conference ID number 7750966.

On August 2, 2022 Eleven Therapeutics, a biotechnology company leading the AI revolution in nucleic acid therapeutics, reported that it has raised a total of $22 million in seed funding (Press release, Eleven Therapeutics, AUG 2, 2022, View Source,%2422%20million%20in%20seed%20funding. [SID1234619007]).

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Among the roster of funders is the Bill & Melinda Gates Foundation, which committed $9 million in funding to Eleven, including $5 million towards future equity investment supporting the development of a first-of-its-kind platform that designs small interfering RNAs (siRNAs) with ultra-long durability by utilising high throughput combinatorial chemistry and AI.

Eleven’s platform aims to decipher the Structure-Activity Relationship (SAR) of siRNAs. The number of possible molecular compositions is staggeringly high, exceeding the number of grains of sand on earth. The platform solves this challenge by generating functional data about the activity profile of an unprecedented scale of siRNA molecules in parallel. In order to unlock the rules of SAR, the team is developing a robust deep learning framework. Ultimately, this proprietary, patent-protected, massively parallel screening platform will systematically identify the best combination of building blocks for therapeutic candidates.

"Eleven’s new platform addresses a long-standing challenge in RNAi," said Dr. Greg Hannon, Director of the Cancer Research UK Cambridge Institute at the University of Cambridge, scientific co-founder of Eleven, and one of the world’s leading pioneers in RNAi. "The potential chemical space for optimising these molecules is absolutely massive. Eleven’s solution will map this space by generating unprecedented amounts of data, which can then be leveraged by AI. We are thrilled about this new funding and the vote of confidence by our investors that it represents."

The additional $4 million by the Gates Foundation was awarded as a non-dilutive grant furthering Eleven’s development of prophylactics against endemic and pandemic-poised respiratory viruses. Importantly, the Gates Foundation’s funding will promote wide accessibility of Eleven’s ultimate treatments to people in need in developing countries. The company additionally has a Cooperative Research and Development Agreement (CRADA) with the Vaccine Research Centre of the NIAID.

"I am delighted by the continued success of Eleven Therapeutics," said Dr. Daniel Douek, Chief of the Human Immunology Section at the Vaccine Research Center of the National Institute of Allergy and Infectious Disease, National Institutes of Health. "NIAID has a Research Collaborative Agreement with Eleven with respect to siRNA technologies against pandemic threats. Eleven’s new platform to map the structure-activity relationship of siRNAs to increase their durability and efficacy could play an important part in our collaborative efforts."

"The future equity investment and grant funding from the Gates Foundation propels our revolutionary efforts of mapping the chemical space of oligonucleotide therapeutics. Our platforms pave the way for the discovery of groundbreaking RNAi therapeutics and prophylactics against some of the most devastating diseases of our time," said Prof. Yaniv Erlich, co-founder and CEO of Eleven Therapeutics.

Additional funding sources include Kindred Capital; NFX Bio (formerly TechBio); Harel Technology Investments; Entrée Capital; and the Innovate UK Smart Grant.

On August 1, 2022 Lantern Pharma Inc. (NASDAQ: LTRN), a clinical stage biopharmaceutical company using its proprietary RADR artificial intelligence (A.I.) and machine learning (ML) platform to transform the cost, pace, and timeline of oncology drug discovery and development, reported that it will host its second quarter 2022 financial results webcast on Monday, August 8th, 2022 at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time (Press release, Lantern Pharma, AUG 1, 2022, View Source [SID1234617173]).

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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Management intends to discuss the operating and financial results for the second quarter ended June 30, 2022 and provide guidance on upcoming milestones. Panna Sharma, President and Chief Executive Officer of Lantern Pharma, will lead the call and will be joined by other members of the management team.

A replay of the webinar will be available after the call on the investor relations section of the Company’s website: ir.lanternpharma.com.