On March 1, 2022 Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, reported that company management will participate in a panel discussion and one-on-one investor meetings at Cowen’s 42nd Annual Healthcare Conference taking place virtually March 7-9, 2022 (Press release, Cardiff Oncology, MAR 1, 2022, View Source [SID1234609310]).

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Details on the panel can be found below.

A replay of the panel discussion will be available by visiting the "Events" section of the Cardiff Oncology website and will be archived for 30 days after the conference’s conclusion.

On March 1, 2022 Signify Health, Inc. (NYSE: SGFY), a leading value-based healthcare platform that leverages advanced analytics, technology and nationwide healthcare provider networks, reported it has completed the acquisition of Caravan Health, a leader in enabling accountable care organizations (ACOs) to excel in population health management and value-based payment programs (Press release, Signify Health, MAR 1, 2022, View Source [SID1234609339]).

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The combination creates one of the largest national networks of providers engaged in value-based payment models. Signify Health will now enable a broader range of value-based and shared savings models from advanced primary care to specialty care bundles to total cost of care programs. The Company also will now be well-positioned to serve community hospitals, physician practices and clinics – entities who have been slower to adopt episodes of care and bundled payments due to lack of infrastructure to do so. With the completion of this acquisition, Signify Health now will support approximately $10 billion in total medical spend under management.

"Giving providers a multi-payor solution ensures that what they do for one patient can be done for all others, irrespective of coverage or individual characteristics," said Kyle Armbrester, CEO of Signify Health. "With the combined capabilities of Signify and Caravan, we will be able to give providers what they need – one platform to manage better health outcomes for all of their patients, from a simple condition or procedure to a complex combination and across multiple payors. I’m looking forward to working with our expanded team to unlock these opportunities and help our clients bring their value-based care strategies to scale – and improve health outcomes across a range of payment models."

Pursuant to the agreement previously announced on February 10, 2022, the transaction is valued at an initial purchase price of $250 million, consisting of $190 million in cash and $60 million in Signify Health common stock. The transaction also includes contingent additional payments of up to $50 million in cash based on the future performance of Caravan Health, which was backed by VSS Capital Partners. Signify Health intends to provide guidance for the combined company when it reports its financial results for the fourth quarter and full year 2021 results on March 2, 2022.

On March 1, 2022 ChemoCentryx, Inc., (Nasdaq: CCXI), reported financial results for the fourth quarter and full year ended December 31, 2021 and provided an overview of recent corporate highlights (Press release, ChemoCentryx, MAR 1, 2022, View Source [SID1234609396]).

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"In 2021 we achieved our long-standing goal of becoming an integrated US biopharmaceutical enterprise: one that discovers, develops and now markets innovative medicines of our own devising," said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. "TAVNEOS was approved and launched in the United States in October and we are seeing growing momentum in the number of patient start forms, patients on drug and the numbers of unique and repeat prescribers. In this initial phase of the launch, we are focused on educating physicians and patients about TAVNEOS and using appropriate support programs to minimize barriers to access for eligible patients. Moreover, with the approval in ANCA-associated vasculitis, the potential for TAVNEOS may only have just begun. We now also intend to launch clinical development in lupus nephritis this year, and to meet with the FDA to discuss the path forward in both severe hidradenitis suppurativa and C3 glomerulopathy, following our Phase II clinical trials in those indications.

Our pipeline continues to develop beyond TAVNEOS as well. Phase I clinical development of our orally-administered PD-L1/PD-1 checkpoint inhibitor, CCX559, is proceeding according to plan, where we expect to present initial data from the ongoing CCX559 dose escalation study this year. In short, 2021 was a watershed year in the evolution of ChemoCentryx, and we expect 2022 to see further progress in our quest to help patients to enjoy better lives."

Key Fourth Quarter 2021 Highlights and Recent Developments

TAVNEOS (avacopan) Commercial Progress
US Approval and Launch: The Company launched TAVNEOS several weeks into the fourth quarter of 2021 following FDA approval on October 8, 2021, as an adjunctive treatment in adult patients with severe active ANCA-associated vasculitis, specifically granulomatosis polyangiitis (GPA) or microscopic polyangiitis (MPA), the two main forms of ANCA-associated vasculitis, in combination with standard therapy including glucocorticoids. TAVNEOS is the first orally-administered inhibitor of the complement 5a (C5a) receptor to be approved by the FDA.
Commercial Execution: TAVNEOS generated net product sales of approximately $1.0 million during the fourth quarter of 2021 (51 business days post-launch) from US commercial sales. Fourth quarter 2021 key performance indicators included:
127 patient start forms (PSFs) received; and
90 patients started treatment with TAVNEOS, representing a 71% conversion rate from PSFs
European Union (EU): In January 2022, TAVNEOS was approved in the EU in combination with a rituximab or cyclophosphamide regimen for the treatment of adult patients with severe, active GPA or MPA. The EU approval triggered a $45 million milestone from ChemoCentryx’ partner, Vifor Pharma, received in the first quarter of 2022. TAVNEOS was also approved in Japan in September 2021. Vifor will pay ChemoCentryx royalties in the teens to the mid-20s percent on potential aggregate net sales from the Vifor territories outside the US.
TAVNEOS (avacopan) Clinical Development:
Lupus nephritis (LN): ChemoCentryx plans to initiate a clinical development program for TAVNEOS in LN in the second half of 2022, pending interaction with regulatory agencies.
Severe hidradenitis suppurativa (HS): The Company plans to meet with the FDA to discuss the Phase III development of TAVNEOS in patients with Hurley Stage III (severe) HS in 2022, with the goal of initiating a Phase III clinical trial in those patients in the second half of 2022.
C3 glomerulopathy (C3G): The Company anticipates meeting with the FDA in 2022 to discuss the dataset from the ACCOLADE Phase II clinical trial of TAVNEOS in the very rare disorder C3G, for which there are no FDA approved therapies.
CCX559 Clinical Development: The Company continues to advance its Phase I clinical development of CCX559, a novel, orally-administered, PD-L1/PD-1 checkpoint inhibitor being developed for the treatment of various cancers. As a next generation therapy, small molecule checkpoint inhibitors may have advantageous properties compared to approved monoclonal antibodies, such as better penetration into solid tumors, reduced immunogenicity, lack of Fc-mediated side effects and the convenience of oral administration. ChemoCentryx plans to report initial data from the Phase I study in 2022 and initiate a Phase Ib/II clinical study in selected patient populations in the second half of 2022.
Cash Position: The Company maintained a strong balance sheet with cash, cash equivalents and investments of approximately $362.3 million at December 31, 2021. This excludes the $45 million milestone received from Vifor Pharma in the first quarter of 2022 following the EU approval of TAVNEOS.
Fourth Quarter and Full Year 2021 Financial Results

Total revenue for the fourth quarter and year ended December 31, 2021, were $2.3 million and $32.2 million, respectively, compared to $4.4 million and $64.9 million for the same periods in 2020. TAVNEOS US net product sales were $1.0 million for the fourth quarter and year ended December 31, 2021. Product supply revenue contributed $1.3 million and $1.8 million for the fourth quarter and year ended December 31, 2021, respectively.

Collaboration and license revenue was $29.1 million for year ended December 2021, compared to $64.4 million in 2020. The decrease in collaboration revenue from 2020 to 2021 was primarily due to the acceleration of revenue recognition of the transaction price associated with the CCX140 Agreement with Vifor in 2020. Following the decision to discontinue development of CCX140 in focal segmental glomerulosclerosis, $46.7 million of deferred revenue was recognized as contract revenue in 2020. This decrease was partially offset by the impact of $30.0 million in milestones from Vifor for the Japanese NDA filing and approval of TAVNEOS and lower costs incurred due to the completion of the TAVNEOS ADVOCATE Phase III pivotal trial in 2020.

Cost of sales for the fourth quarter and year ended December 31, 2021, was $0.3 million. Costs incurred for manufacturing campaigns initiated prior to the October 2021 FDA approval of TAVNEOS were recorded as research and development expense.

Research and development expenses were $18.8 million for the fourth quarter of 2021, compared to $21.2 million for the same period in 2020. Full year 2021 research and development expenses were $83.0 million, compared to $77.9 million in 2020. The increase from 2020 to 2021 was primarily attributable to the manufacture of commercial drug supply in anticipation of the launch of TAVNEOS in ANCA vasculitis and higher research and drug discovery expenses, including those associated with the development of CCX559.

Selling, general and administrative expenses were $23.3 million for the fourth quarter of 2021, compared to $12.7 million for the same period in 2020. Full year 2021 selling, general and administrative expenses were $78.9 million, compared to $42.2 million in 2020. The increase from 2020 to 2021 was principally due to higher employee-related expenses associated with commercialization planning efforts and the launch of TAVNEOS in the US.

Net loss for the fourth quarter of 2021 was $40.5 million, compared to net loss of $29.9 million for the same period in 2020. Full year 2021 net loss was $131.8 million, compared to a net loss of $55.4 million in 2020.

Total shares outstanding as of December 31, 2021, were approximately 70.4 million shares.

Cash, cash equivalents and investments totaled approximately $362.3 million as of December 31, 2021. The Company expects to utilize cash, cash equivalents and investments in the range of $120 million to $140 million in 2022.

Conference Call and Webcast

The Company will host a conference call and webcast today, March 1, 2022, at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time. To participate by telephone, please dial (877) 303-8028 (Domestic) or (760) 536-5167 (International). The conference ID number is 3136966. A live and archived audio webcast can be accessed through the Investors section of the Company’s website at www.ChemoCentryx.com. The archived webcast will remain available on the Company’s website for fourteen (14) days following the call.

INDICATION

TAVNEOS (avacopan) is indicated as an adjunctive treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody (ANCA)-associated vasculitis (granulomatosis with polyangiitis [GPA] and microscopic polyangiitis [MPA]) in combination with standard therapy including glucocorticoids. TAVNEOS does not eliminate glucocorticoid use.

IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS
Serious hypersensitivity to avacopan or to any of the excipients

WARNINGS AND PRECAUTIONS
Hepatotoxicity: Serious cases of hepatic injury have been observed in patients taking TAVNEOS, including life-threatening events. Obtain liver test panel before initiating TAVNEOS, every 4 weeks after start of therapy for six months and as clinically indicated thereafter. Monitor patients closely for hepatic adverse reactions, and consider pausing or discontinuing treatment as clinically indicated (refer to section 5.1 of the Prescribing Information). TAVNEOS is not recommended for patients with active, untreated and/or uncontrolled chronic liver disease (e.g., chronic active hepatitis B, untreated hepatitis C, uncontrolled autoimmune hepatitis) and cirrhosis. Consider the risk and benefit before administering this drug to a patient with liver disease.

Serious Hypersensitivity Reactions: Cases of angioedema occurred in a clinical trial, including one serious event requiring hospitalization. Discontinue immediately if angioedema occurs and manage accordingly. TAVNEOS must not be re-administered unless another cause has been established.

Hepatitis B Virus (HBV) Reactivation: Hepatitis B reactivation, including life threatening hepatitis B, was observed in the clinical program. Screen patients for HBV. For patients with evidence of prior infection, consult with physicians with expertise in HBV and monitor during TAVNEOS therapy and for six months following. If patients develop HBV reactivation, immediately discontinue TAVNEOS and concomitant therapies associated with HBV reactivation and consult with experts before resuming.

Serious Infections: Serious infections, including fatal infections, have been reported in patients receiving TAVNEOS. The most common serious infections reported in TAVNEOS group were pneumonia and urinary tract infections. Avoid use of TAVNEOS in patients with active, serious infection, including localized infections. Consider the risks and benefits before initiating TAVNEOS in patients with chronic infection, at increased risk of infection or who have been to places where certain infections are common.

ADVERSE REACTIONS
The most common adverse reactions (≥5% of patients and higher in the TAVNEOS group vs. prednisone group) were: nausea, headache, hypertension, diarrhea, vomiting, rash, fatigue, upper abdominal pain, dizziness, blood creatinine increased, and paresthesia.

DRUG INTERACTIONS
Avoid coadministration of TAVNEOS with strong and moderate CYP3A4 enzyme inducers. Reduce TAVNEOS dose when co-administered with strong CYP3A4 enzyme inhibitors to 30 mg once daily. Monitor for adverse reactions and consider dose reduction of certain sensitive CYP3A4 substrates.

Please see Full Prescribing Information and Medication Guide for TAVNEOS.

About TAVNEOS (avacopan)

TAVNEOS (avacopan), approved by the FDA as an adjunctive treatment of ANCA-associated vasculitis, is a first-in-class, orally-administered small molecule that employs a novel, highly targeted mode of action in complement-driven autoimmune and inflammatory diseases. While the precise mechanism in ANCA vasculitis has not been definitively established, TAVNEOS, by blocking the complement 5a receptor (C5aR) for the pro-inflammatory complement system fragment known as C5a on destructive inflammatory cells such as blood neutrophils, is presumed to arrest the ability of those cells to do damage in response to C5a activation, which is known to be the driver of ANCA vasculitis. TAVNEOS’s selective inhibition of only the C5aR is believed to leave the beneficial C5a pathway through the C5L2 receptor functioning normally.

ChemoCentryx is also developing TAVNEOS for the treatment of patients with C3 glomerulopathy (C3G), hidradenitis suppurativa (HS) and Lupus Nephritis (LN). The US Food and Drug Administration granted TAVNEOS orphan drug designation for ANCA-associated vasculitis and C3G. The European Commission has granted orphan medicinal product designation for TAVNEOS for the treatment of two forms of ANCA-associated vasculitis: microscopic polyangiitis and granulomatosis with polyangiitis (formerly known as Wegener’s granulomatosis), as well as for C3G. TAVNEOS has not been approved for indications discussed as in development, and the safety and efficacy of those uses has not been established.

About ANCA-Associated Vasculitis

ANCA-associated vasculitis is a systemic disease in which over-activation of the complement pathway further activates neutrophils, leading to inflammation and destruction of small blood vessels. This results in organ damage and failure, with the kidney as the major target, and is fatal if not treated. Currently, treatment for ANCA-associated vasculitis consists of courses of non-specific immuno-suppressants (cyclophosphamide or rituximab), combined with the administration of daily glucocorticoids (steroids) for prolonged periods of time, which can be associated with significant clinical risk including death from infection.

On February 28, 2022 GENFIT (Nasdaq and Euronext: GNFT), a late- stage biopharmaceutical company dedicated to improving the lives of patients with severe chronic liver diseases, reported its cash position as of December 31, 2021 and revenues for 2021 (Press release, Genfit, MAR 1, 2022, View Source [SID1234609221]).

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Financials

As of December 31, 2021, the Company’s cash and cash equivalents amounted to €258.8 million compared with €171.0 million, as of December 31, 2020. This amount includes:

•A €120 million non-refundable upfront payment from Ipsen received in December 2021, as well as €24 million in VAT collected on that amount
•A €28 million equity investment from Ipsen in December 2021
•A €7.9 million Research Tax Credit 2020 reimbursement received in October 2021
•A €2.25 million subsidized loan from Bpifrance in November 2021 in addition to the State Guaranteed Loans received in June and July 2021

As of June 30, 2021, cash and cash equivalents amounted to €104.4 million.

The solid cash position as of December 31, 2021 takes into account the collaboration and license agreement signed with Ipsen in December 2021 which gives Ipsen exclusive worldwide2 license to develop, manufacture and commercialize GENFIT’s investigational treatment elafibranor for people living with Primary Biliary Cholangitis (PBC), in return for a €120 million upfront payment. In addition to the upfront payment GENFIT is eligible to receive up to €360 million in milestone payments as well as tiered double-digit royalties of up to 20%. To underscore the long-term commitment represented by this partnership, Ipsen also purchased newly issued GENFIT equity representing 8% post-issuance through a €28 million investment in GENFIT, becoming one of the largest shareholders.

1Unaudited financial information under IFRS
2With the exception of China, Hong Kong, Taiwan, and Macau where Terns Pharmaceuticals holds the exclusive license to develop and commercialize elafibranor

1 Pascal Prigent, CEO of GENFIT, commented: "This breakthrough strategic partnership with Ipsen marks the beginning of a new chapter for GENFIT. With a considerably improved financial situation, we’re now in a good position to accelerate our development."

Revenues3

Revenues for 2021 were €80.06 million compared to €0.76 million for 2020. This mainly results from the receipt of the €120 million upfront payment from Ipsen, out of which €80 million is recognized as 2021 revenue, after deduction of €40 million deferred revenue, which will gradually be recognized as revenue following the completion of the ELATIVE double-blind study, in accordance with the IFRS 15 norms.

As a comparison, revenues for 2020 mainly resulted from the licensing agreements with Labcorp to roll out the NIS4 diagnostic technology in NASH and the sale of goods and services provided pursuant to the collaboration and license agreement with Terns Pharmaceuticals.

A note about the COVID-19 pandemic and its potential consequences on our business

During this evolving crisis, our priorities continue to be to ensure the safety and well-being of our employees, of the patients and healthcare professionals involved in our clinical trials, as well as the integrity of our ongoing clinical trials. We remain committed to ensuring business continuity and have been monitoring the situation closely.

We have worked with our contract research organizations (CRO), trial sites and investigators to regularly revise our program execution estimations to take into account the evolution of the pandemic situation and its impact on our activities.

As a result of measures implemented in consultation with our CRO we were able to minimize disruption to our ELATIVE Phase 3 clinical trial of elafibranor in PBC, which enrolled its first patient in September 2020. At the start of the trial, and considering the pandemic situation, we had estimated that enrollment in the ELATIVE study would take approximately 18 months and so far, we have been broadly in-line with this estimate. However, the recent rapid expansion of the highly contagious Omicron strain of COVID has created additional complications for us in enrolling patients and in clinical trial operations generally. The rate of infection, as well as the containment measures put in place to control its growth have led to patients postponing site visits or having to be re-screened because they had fallen outside the screening window. This recent worsening of the COVID pandemic has also created significant additional administrative backlogs at sites and regulatory agencies, due to the combination of continued high volume of trials and staffing shortages. This has disproportionately impacted regions where there were already significant delays, such as Latin America. Although we currently do not anticipate these recent complexities to substantially change the guidance related to availability of the ELATIVE top line results, we are currently assessing with our CRO the extent of impact on enrollment timelines. We will provide an update during our next webcast scheduled for April 7, 2022.

3 Revenues recognized under IFRS 15

2 Upcoming Financial Communications

The Company will release its full-year 2021 financial results on April 7, 2022. The 2021 Universal Registration Document, the 2021 Annual Financial Report (included in the 2021 Universal Registration Document), and the Annual Report on Form 20-F will be published by the end of April 2022.

On March 1, 2022 Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, reported fourth quarter and full year 2021 financial results (Press release, Precigen, MAR 1, 2022, View Source [SID1234609251]).

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"In 2021, Precigen was able to demonstrate significant progress in our core therapeutic platforms with indicators of strong early efficacy and favorable safety profiles across each of our most clinically advanced assets," said Helen Sabzevari, PhD, President and CEO of Precigen. "As we advance assets with the most promising paths to licensure, we will continue to focus on strengthening our financial position by continuing to ensure operational efficiency while seeking strategic non-dilutive funding opportunities where appropriate."

Key Business Highlights

Public Offering: In January, Precigen closed a public offering of 17,250,000 shares of common stock, which resulted in gross proceeds to Precigen of approximately $129.4 million before deducting the underwriting discount and other offering expenses payable by Precigen;
PRGN-3006 UltraCAR-T in Acute Myeloid Leukemia (AML): In 2021, enrollment in the dose escalation phase of the Phase 1/1b PRGN-3006 UltraCAR-T clinical trial for the treatment of patients with relapsed or refractory AML or higher-risk myelodysplastic syndromes (MDS) was completed for both the lymphodepletion and non-lymphodepletion cohorts. Interim data for patients treated in Dose Levels 1-3 of the non-lymphodepletion cohort and Dose Levels 1-2 of the lymphodepletion cohort were presented at the 63rd American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition in December 2021;
PRGN-3005 UltraCAR-T in Ovarian Cancer: In 2021, enrollment in the dose escalation phase of the Phase 1/1b clinical trial for the treatment of patients with advanced, recurrent platinum-resistant ovarian cancer was completed for both the intraperitoneal (IP) and intravenous (IV) arms. Interim data for patients treated in Dose Levels 1-3 of the IP arm were presented at the Company’s 2021 research and development (R&D) Virtual Event in November 2021;
PRGN-3007 Next Generation UltraCAR-T with Intrinsic PD-1 Inhibition: In 2021, Precigen received investigational new drug (IND) application clearance from the US Food and Drug Administration (FDA) to initiate a Phase 1 study of PRGN-3007 UltraCAR-T in advanced receptor tyrosine kinase-like orphan receptor 1 positive (ROR1+) hematological tumors, including chronic lymphocytic leukemia (CLL), mantle cell leukemia (MCL), acute lymphoblastic leukemia (ALL) and diffuse large B-cell lymphoma (DLBCL) and solid tumors, including triple negative breast cancer (TNBC). An abstract highlighting PRGN-3007 preclinical data was presented as a poster presentation at the 63rd ASH (Free ASH Whitepaper) Annual Meeting and Exposition in December 2021;
PRGN-2012 AdenoVerse Immunotherapy in Recurrent Respiratory Papillomatosis (RRP): In 2021, Precigen received IND clearance from the FDA to initiate a Phase 1 study of PRGN-2012, an off-the-shelf (OTS) AdenoVerse immunotherapy, in patients with RRP and began dosing patients in the study. Precigen completed enrollment in the Phase 1 dose escalation and expansion cohorts. Interim data for the Phase 1 study were presented at the Company’s 2021 R&D Virtual Event in November 2021;
PRGN-2009 AdenoVerse Immunotherapy in HPV-associated Cancers: In 2021, Precigen completed enrollment in the PRGN-2009 Phase 1 monotherapy arm and enrollment is ongoing in the Phase 1 combination arm of the study. The Phase 2 monotherapy arm in newly diagnosed oropharyngeal squamous cell carcinoma (OPSCC) patients is also ongoing. In November 2021, interim data for patients in the Phase 1 monotherapy and combination arms were presented at the Company’s 2021 R&D Virtual Event and Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 2021 Annual Meeting; and
AG019 ActoBiotics in Type 1 Diabetes (T1D): In 2021, Precigen completed the Phase 1b/2a AG019 ActoBiotics clinical trial in T1D. Positive results from the trial were presented at the Federation of Clinical Immunology Societies (FOCIS) Virtual Annual Meeting in June 2021 and European Association for the Study of Diabetes (EASD) 57th Annual Meeting in October 2021.
Fourth Quarter and Full Year 2021 Financial Highlights

Net cash used in operating activities of $55.8 million in 2021 compared to $77.0 million in 2020;
Net proceeds received from the issuance of common stock in January 2021 were $121.0 million;
Cash, cash equivalents, and short-term and long-term investments totaled $163.7 million as of December 31, 2021;
The Company anticipates that its cash, cash equivalents and short-term and long-term investments as of December 31, 2021 should enable the Company to fund operations well into 2023, assuming the Company’s programs advance as currently contemplated; and
The Company’s non-core businesses continued to generate increased revenues and profitability.
Fourth Quarter 2021 Financial Results Compared to Prior Year Period
For the quarter ended December 31, 2021, R&D expenses increased $2.3 million, or 22%, from the quarter ended December 31, 2020. This was primarily the result of an increase in salaries, benefits, and other personnel costs of $1.4 million and an increase in contract research organization costs and lab supplies of $0.8 million due primarily to the advancement of the Company’s clinical and preclinical programs. Selling, general and administrative (SG&A) expenses decreased $13.3 million, or 44%, due primarily to a noncash $11.4 million loss on a settlement agreement in the prior year as well as decreased salary, benefit and other personnel costs, including noncash share-based compensation expenses attributable to equity grants made in the first quarter of 2020. Net loss from continuing operations was $25.0 million, or $(0.13) per share for the quarter ended December 31, 2021, of which $5.0 million was for noncash charges, compared to net loss from continuing operations in the prior year’s fourth quarter of $39.7 million, or $(0.22) per share, of which $19.7 million was for noncash charges in 2020.

Total revenues increased $4.9 million, or 25%, over the quarter ended December 31, 2020. This was primarily the result of product and service revenues generated by Trans Ova and Exemplar, which increased $5.8 million. This increase was due to higher customer demand for Trans Ova’s products and services as a result of stronger beef and dairy industries in the current year and a change in pricing structure with certain customers, as well as increased services provided by Exemplar to new and existing customers. Collaboration and licensing revenues decreased $0.8 million primarily due to a decrease in the recognition of previously deferred revenue in the current period resulting from fewer services being performed pursuant to the Company’s historical collaboration agreements.

Full Year 2021 Financial Results Compared to Prior Year Period
For the year ended December 31, 2021, R&D expenses increased $8.5 million, or 20%, over the prior year. This was the result of an increase in contract research organization costs and lab supplies of $6.7 million due primarily to the advancement of the Company’s clinical and preclinical programs. SG&A expenses decreased $17.6 million, or 19%, from the prior year due primarily to certain costs incurred in 2020 that were not recurring in 2021 and a reduction in salary, benefit and other personnel costs. Costs incurred in 2020 that did not recur in 2021 included $13.9 million for certain legal settlements. Salaries, benefits, and other personnel costs decreased $4.9 million in 2021 primarily due (i) to reduced headcount as the Company scaled down its corporate functions to support a more streamlined organization and (ii) reduced stock compensation costs for previously granted awards that became fully vested in early 2021. Net loss from continuing operations for the year ended December 31, 2021 was $96.8 million, or $(0.49) per share, of which $29.4 million was for noncash charges compared to net loss from continuing operations of $103.8 million in the prior year, or $(0.62) per share, of which $45.9 million was for noncash charges in 2020.

Total revenues were comparable year-over-year, with increased revenues generated by Trans Ova and Exemplar being offset by a decrease in collaboration and licensing revenue as a result of the Company’s changing business. The increase in Trans Ova and Exemplar revenues was $21.6 million. This increase was primarily due to higher customer demand for Trans Ova’s products and services as a result of stronger beef and dairy industries in the current year, as well as increased services provided by Exemplar to new and existing customers combined with a change in pricing structure with certain customers for both Trans Ova and Exemplar. Collaboration and licensing revenues decreased $20.7 million as the Company accelerated the recognition of previously deferred revenue in the prior period upon the mutual termination of two of its collaboration agreements in 2020. Gross margin on products and services improved as a result of the increased revenues, the change in pricing structure for certain customers, and operational efficiencies that have been gained through reductions in workforce and improved inventory management.