G1 Therapeutics to Participate in the 42nd Annual Cowen Health Care Conference and the 34th Annual Roth 2022 Conference

On March 1, 2022 G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, reported that the Company will participate in two upcoming investor conferences in March 2022 (Press release, G1 Therapeutics, MAR 1, 2022, View Source [SID1234609261]).

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On Tuesday March 8, 2022, G1’s Chief Executive Officer Jack Bailey will participate in a New Drug Launches panel at 2:10PM ET during the virtual 42nd Annual Cowen Health Care Conference.

On Tuesday March 15, 2020, Jack Bailey and Raj Malik, M.D., G1’s Chief Medical Officer, will participate in a fireside chat at 8:00AM PT during the 34th Annual Roth Conference.
The webcast and replay of both events will be accessible on the Events & Presentations page of View Source

Avidity Biosciences Reports Fourth Quarter and Year-End 2021 Financial Results and Recent Highlights

On March 1, 2022 Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs), reported financial results for the fourth quarter and year ended December 31, 2021 and highlighted recent corporate progress (Press release, Avidity Biosciences, MAR 1, 2022, View Source [SID1234609281]).

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"2021 was a pivotal year for Avidity, the field of RNA therapeutics and for the DM1 community as the first patient was dosed with an AOC as part of the AOC 1001 MARINA trial," said Sarah Boyce, president and chief executive officer. "This milestone transitioned us into a clinical-stage biopharmaceutical company and we continue to make great strides with our advancing and expanding pipeline and AOC platform technology. By the end of 2022, we plan to have three programs in three different rare diseases in the clinic with AOC 1001, AOC 1020 and AOC 1044."

"We are in a strong financial position with $406 million at year-end bolstered through approximately $175 million raised in 2021, inclusive of $155 million of net proceeds from our first follow on financing. We are well funded into 2024 which we expect will allow us to complete the MARINA trial, advance the AOC 1044 and AOC 1020 programs into clinical development and to continue to invest in expanding our pipeline and the AOC platform in muscle and beyond," said Mike MacLean, chief financial officer.

2021 Key Highlights

AOC 1001 Achievements

The Company initiated the Phase 1/2 MARINA trial of AOC 1001 in adults with myotonic dystrophy type 1 (DM1).
The FDA and the European Medicines Agency (EMA) granted AOC 1001 Orphan Designation and the FDA granted AOC 1001 Fast Track Designation.
The MARINA trial is on track for a preliminary assessment of safety, tolerability and key biomarkers in approximately half of the trial participants in Q4 2022.
Pipeline Advancements

AOC 1044 was named as the clinical development candidate for the Duchenne Muscular Dystrophy (DMD) program targeting Exon 44. AOC 1044 is in IND-enabling studies and is expected to enter the clinic by the end of 2022.
AOC 1020 was named as the clinical development candidate for the facioscapulohumeral muscular dystrophy (FSHD) program. AOC 1020 is in IND-enabling studies and is expected to enter the clinic by the end of 2022.
Avidity also entered a collaboration with the FSHD Clinical Trial Research Network (FSHD CTRN) to support a natural history study called the Motor Outcomes to Validate Evaluations Plus (MOVE+) Study to enhance the understanding of how to utilize whole-body MRI and other tools to identify specific biomarkers for FSHD that can potentially accelerate and support future clinical trial design.
Organizational Highlights

Avidity recently appointed Steve Hughes, M.D. as chief medical officer. Dr. Hughes brings over 20 years of experience in the biotechnology industry and has extensive experience in RNA-based treatments and rare diseases.
Fourth Quarter and Year-End 2021 Financial Results

Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents and marketable securities totaled $405.5 million as of December 31, 2021, which reflects $174.7 million raised in 2021, inclusive of $155.1 million of net proceeds from our first follow on financing.

Collaboration Revenue: Collaboration revenue, including reimbursable expenses, primarily relates to Avidity’s partnership with Eli Lilly and Company and totaled $1.9 million for the fourth quarter of 2021 compared with $2.1 million for the fourth quarter of 2020, and $9.3 million for the full year 2021 compared with $6.8 million for the full year 2020.
Research and Development (R&D) Expenses: R&D expenses include external and internal costs associated with research and development activities. These expenses were $33.0 million for the fourth quarter of 2021 compared with $13.6 million for the fourth quarter of 2020, and $101.2 million for the full year 2021 compared with $37.6 million for the full year 2020. The increases were primarily driven by the advancement of AOC 1001, AOC 1020 and AOC 1044, as well as costs related to the expansion of the company’s overall research capabilities.
General and Administrative (G&A) Expenses: G&A expenses primarily consist of employee-related expenses, professional fees, insurance costs and patent filing and maintenance fees. These expenses were $7.4 million for the fourth quarter of 2021 compared with $4.8 million for the fourth quarter of 2020, and $26.2 million for the full year 2021 compared with $13.5 million for the full year 2020. The increases were primarily due to higher personnel costs. The full year increase was also due to higher professional fees and insurance costs.

BeiGene to Present at the Cowen 42nd Annual Health Care Virtual Conference

On March 1, 2022 BeiGene (NASDAQ: BGNE; HKEX: 06160; SSE: 688235), a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide, reported that the Company will participate in the Cowen 42nd Annual Health Care Conference on Monday, March 7, 2022 at 9:50 a.m. ET (Press release, BeiGene, MAR 1, 2022, View Source [SID1234609299]).

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A live webcast can be accessed from the investors section of BeiGene’s website at View Source or View Source An archived replay will be available for 90 days following the event.

Pascal Biosciences Appoints Dr. Brian Bapty CEO and President

On March 1, 2022 Pascal Biosciences Inc. ("Pascal" or the "Company") (TSXV:PAS) (OTC:PSCBF) (FSE: 6PB-FF), reported the appointment of Dr. Brian Bapty as Chief Executive Officer and President, for a five year term which can be renewed. Dr. Bapty will also serve on the Board of Directors (Press release, Pascal Biosciences, MAR 1, 2022, View Source [SID1234609322]). Dr. Bapty has an extensive background in the biotechnology industry and has been active in the capital markets for over 20 years. He received his Ph.D. in Research Medicine from the University of British Columbia in 1999 and then for eight years was at Raymond James Ltd. as their Biotechnology and Healthcare Equities Analyst. He has served as an independent strategic advisor to the industry, Director of Business Development at Helius Medical Technologies, a partner in a private equity firm, and CEO and Healthcare Investment Banker in a boutique brokerage firm. As a scientist, with an extensive business background, Dr. Bapty brings a unique skill set and fresh perspective to Pascal.

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"Brian has great energy and the expertise to accelerate Pascal’s drive to the clinic," said Dr. Patrick Gray, Chairman of the Board of Directors. "In addition to his strong scientific background, he understands capital markets and how to finance and move biotech companies forward."

Dr. Bapty stated, "In Pascal I see great opportunity. Pat and his team are world class researchers with an incredible depth of drug development expertise, and I am really excited to see what we can accomplish together. Pascal has compelling drug candidates and some discovery programs that target unique biology fundamental for a number of large market disease indications. I joined as CEO because I believe the current market capitalization of Pascal does not reflect the potential of these assets, and I see an opportunity for significant value creation in both the short and long term. Our immediate priority will be demonstrating to shareholders the value of this team, and the value they can add to a scientifically, and fiscally, judicious development program. We look forward to releasing further updates in the near future.

Dr. Bapty takes over from the previous CEO Robert Gietl. On January 3, 2022, Mr. Gietl was terminated as CEO and president. Mr. Gietl has commenced a legal action in the Supreme Court of B.C. claiming damages, interest and costs, payment of unpaid salary of $230,000 and the issue of 500,000 shares. The Company has issued the 500,000 shares and filed a statement of defence.

Astellas Announces Status of Acquisition of Own Shares

On March 1, 2022 Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D. "the Company") reported the status of acquisition of its own shares as stated below (Press release, Astellas, MAR 1, 2022, View Source [SID1234609201]). The acquisition was implemented pursuant to the provision of its Articles of Incorporation in accordance with Article 459, paragraph 1 of the Companies Act.

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Particulars

Class of shares acquired: Common stock of the Company

Total number of shares acquired: 14,838,800 shares

Total amount of acquisition cost: 29,357,828,600 yen

Period of acquisition: From February 3, 2022 to February 28, 2022

Method of acquisition: Purchased on the Tokyo Stock Exchange

(Reference)

Details of the resolution at the meeting of the Board of Directors (announced on February 2, 2022)
 - Class of shares to be acquired: Common stock of the Company
 - Total number of shares to be acquired: Up to 29 million shares
               (Ratio to the total number of shares outstanding
               [excluding treasury stock]: 1.57%)

Accumulated Company’s own shares acquired through February 28, 2022, pursuant to the above board resolution
 - Total number of shares acquired: 14,838,800 shares
 - Total amount of acquisition cost: 29,357,828,600 yen