Revolution Medicines to Report Financial Results for First Quarter 2022 After Market Close on May 9, 2022

On April 21, 2022 Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing novel targeted therapies for RAS-addicted cancers, reported that it will report financial results for the first quarter 2022 on Monday, May 9, 2022, after market close (Press release, Revolution Medicines, APR 21, 2022, View Source [SID1234612762]). At 4:30 p.m. Eastern Time that day (1:30 p.m. Pacific Time), Revolution Medicines’ senior management team will host a conference call and webcast to discuss the financial results for the quarter and provide an update on corporate progress.

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Conference Call and Webcast Information:

Dial-in: (833) 423-0425 (U.S.) or + 1 (918) 922-3069 (international); conference ID 6994747.
Live webcast with slides can be accessed at: View Source." target="_blank" title="View Source." rel="nofollow">View Source
A replay of the webcast will be available on the company’s website shortly after the conference call concludes at View Source and will be archived there for at least 14 days.

Oncolytics Biotech® to Present at the Bloom Burton & Co. Healthcare Investor Conference

ON April 21, 2022 Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC) reported that Dr. Matt Coffey, President and Chief Executive Officer, will be presenting a corporate overview at the Bloom Burton & Co. Healthcare Investor Conference, which is taking place May 2-3, 2022 at the Metro Toronto Convention Centre, North Building in Toronto, Ontario (Press release, Oncolytics Biotech, APR 21, 2022, View Source [SID1234612843]). Additional details on the presentation can be found below.

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Date: Tuesday, May 3, 2022
Time: 11:00 a.m. ET
Location: Metro Toronto Convention Centre, North Building Hall B
Webcast Link: Available by clicking here
Company management will also be participating in one-on-one investor meetings at the conference. To schedule a meeting, please submit a meeting request on the conference website, contact your Bloom Burton & Co. representative, or email [email protected].

A live webcast of the Company’s presentation will also be available on the Investor Relations page of Oncolytics’ website (LINK) and will be archived for three months.

About the Conference
The Bloom Burton & Co. Healthcare Investor Conference brings together U.S., Canadian and international investors who are interested in the latest developments in the Canadian healthcare sector. Attendees will have an opportunity to obtain corporate updates from the premier Canadian publicly traded and private companies through presentations and private meetings.

Insmed to Host First Quarter 2022 Financial Results Conference Call on Thursday, May 5, 2022

On April 21, 2022 Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, reported that it will release its first quarter 2022 financial results on Thursday, May 5, 2022 (Press release, Insmed, APR 21, 2022, View Source [SID1234612885]).

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Insmed management will host a conference call for investors beginning at 8:30 a.m. ET on Thursday, May 5, 2022 to discuss the financial results and provide a business update.

Shareholders and other interested parties may participate in the conference call by dialing (844) 200-6205 (U.S. toll free), (646) 904-5544 (U.S. local), or +1-929-526-1599 (international) and referencing access code 388457. The call will also be webcast live on the company’s website at www.insmed.com.

A replay of the conference call will be accessible approximately 1 hour after its completion through June 4, 2022, by dialing (866) 813-9403 (U.S. toll free), (929) 458-6194 (U.S. local), or +44-204-525-0658 (international) and referencing access code 252664. A webcast of the call will also be archived for 90 days under the Investor Relations section of the company’s website at www.insmed.com.

AIM ImmunoTech Provides Summary of Ampligen® Data Supporting Synergistic Potential with Checkpoint Blockade Therapies

On April 21, 2022 AIM ImmunoTech Inc. (NYSE: American AIM) ("AIM" or the "Company"), an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus, reported that a summary of clinical data that support the synergistic potential of Ampligen (rintatolimod) with checkpoint blockade therapies (Press release, AIM ImmunoTech, APR 21, 2022, View Source [SID1234612715]).

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Thomas Equels, Chief Executive Officer of AIM, commented, "We have amassed a growing body of encouraging Ampligen data to date through close collaborations with leading KOLs at preeminent institutions. These data have not only affirmed but significantly evolved our belief that Ampligen as a single agent therapy, as well as in combination with the latest powerful cancer therapies, has the potential to become a breakthrough therapy for some of the most difficult to treat and deadly cancers. We are going to continue working tirelessly to advance Ampligen towards approval and commercialization with the goal of bringing much needed hope to patients and solutions to treating physicians around the world."

Ampligen is the Company’s dsRNA drug currently being developed for globally important cancers. Ampligen has shown therapeutic synergy with checkpoint inhibitors, including increasing survival rates and efficacy, in the treatment of animal tumors when used in combination with checkpoint blockade therapies. The first detection of Ampligen’s synergistic potential with checkpoint blockade therapeutics was witnessed in pre-clinical mouse models of melanoma and pancreatic cancers. Additionally, the Company now has data from two clinical studies – in advanced recurrent ovarian cancer and triple negative breast cancer – that indicate that the drug may have similar anti-tumor activity in humans.

"Working with AIM, our Pancreatic Cancer R&D team at the Buffett Cancer Center did extensive pre-clinical research demonstrating in animal models that Ampligen had a significant therapeutic benefit in treating pancreatic cancer. This March, Prof. C.H.J. van Eijck and his team at Erasmus MC published data in the journal Cancers showing Ampligen alone was associated with extended overall survival in late-stage pancreatic cancer of 19 months. Just last week, at AACR (Free AACR Whitepaper), publications of clinical data by UPMC’s Dr. Bob Edwards in advanced recurrent ovarian cancer, and Roswell’s Dr. Pawel Kalinski in both stage 4 triple negative breast cancer and stage 4 colorectal cancer, strongly supported the advance of Ampligen into human trials for patients in pancreatic and other cancers where checkpoint drugs are not effective," stated Michael (Tony) Hollingsworth, PhD, Associate Director, Basic Research, University of Nebraska Medical Center.

"Checkpoint drugs are powerful and important therapies, but only work on ‘hot’ tumors visible to the immune system, not ‘cold’ tumors that are immune-silent. Ampligen appears, from these data, to turn cold tumors into hot tumors and create significant therapeutic potential for a successful second round of Ampligen plus checkpoint therapy for those who do not respond to checkpoint therapy alone," added Robert Edwards, MD, University of Pittsburgh School of Medicine and University of Pittsburgh Cancer Institute.

"The two ongoing Roswell Park clinical trials we recently presented findings from represent milestones in our 10-year-long NIH and DoD-funded research program aiming to convert immuno-resistant ‘cold’ tumors into ‘hot’ ones that would be more sensitive to immunotherapy. Seeing both studies successfully meet their predetermined efficacy endpoint – selective increase of cytotoxic T lymphocyte markers in tumor tissues – Roswell Park plans to move forward with critical studies assessing therapeutic efficacy of the combination of a rintatolimod-based chemokine-modulating regimen with PD-1 inhibitors, cancer vaccines and/or adoptive T cell therapies in solid tumors. Observations from our preclinical studies suggest that this multipronged strategy may benefit patients with multiple solid-tumor lesions, which are difficult to target individually," commented Pawel Kalinski, MD, PhD, Jacobs Family Endowed Chair of Immunology, Chief of the Division of Translational Immuno-Oncology and Senior Vice President for Team Science at, Roswell Park Comprehensive Cancer Center.

Recurrent Ovarian Cancer: ClinicalTrials.gov: NCT03734692

The investigator-initiated, Phase 2, single-arm, efficacy/safety trial to evaluate the effectiveness of combining intensive locoregional intraperitoneal (IP) chemoimmunotherapy of cisplatin with IP Ampligen (TLR-3 agonist) and IV infusion of the checkpoint inhibitor pembrolizumab (KEYTRUDA) (IVP) for patients with recurrent platinum-sensitive ovarian cancer is being conducted by the University of Pittsburgh Medical Center (UPMC). The Phase 2 trial is designed to enroll up to 45 subjects using Ampligen in combination with pembrolizumab to test the combinational activity of checkpoint blockade therapy where Ampligen is administered by injection in the peritoneal cavity where the tumor is located.

The Company’s recently announced positive interim results suggesting induction of T cell activation together with clinical responses may indicate prognostic evidence of tumor environment reprogramming that we do not see with chemotherapy alone and which may extend survival. A total of 17 patients have been enrolled and 13 were evaluable for response in the ongoing Phase 2 trial. The observed clinical responses were: 2 complete responses (15.4%), 3 partial responses (23.1%), 3 stable disease (23.1%), 5 progressions (38.4%) for a clinical benefit rate (CR+PR+SD) of 61.6%. From 13 patients, 77 IP wash samples were collected at serial time points. Measurements in IP washes revealed an acute increase in granzyme B (GZMB), perforin, TNF alpha, CXCL9, CXCL10 and CXCL11 after treatment (p<0.05). Longitudinal data revealed a progressive increase in some biomarkers in the locoregional environment; CXCL9, CXCL10, CXCL11, perforin and TNF alpha were all increased from baseline levels at cycle 1 to baseline of cycle 6 (p<0.05). CXCL12 was also increased acutely after treatment (p<0.05).

The cytokine CXCL12 observed to increase acutely after treatment functions as a chemotactic for lymphocytes. The cytokines CXCL9-11 active in antitumor responses in modulation of the tumor microenvironment (TME) to favor cytotoxic T cells required for anti-tumor cell immune activity versus regulatory T cells (Tregs), which function to protect non-tumor "self" tissue. Granzymes are serine proteases released by cytoplasmic granules within cytotoxic T cells and natural killer (NK) cells. They induce programmed cell death (apoptosis) in the target cell, eliminating cells that have become cancerous. Perforin is a protein, which creates tubules in the cell membrane allowing cell lysis. Perforin is a key effector molecule for T-cell- and natural killer-cell-mediated cytolysis.

Triple Negative Breast Cancer: ClinicalTrials.gov: NCT03599453

A Phase 1 study was conducted at Roswell Park Comprehensive Cancer Center in patients with metastatic triple-negative breast cancer using chemokine modulation therapy, including AIM ImmunoTech Inc.’s drug candidate, Ampligen, as well as interferon α-2b and pembrolizumab.

In the study, six evaluable patients (33-75 years) with mTNBC received 6 doses of Ampligen (200 mg i.v.), IFN α-2b (INTRON-A; 20MU/m2 i.v.) and COX-2 inhibitor (celecoxib; 2 x 200 mg, p.o.) over 2 weeks, with tumor biopsies obtained before (within 6 days) and after (within 5 days) CKM. All patients received follow-up pembrolizumab (200 mg, i.v, Q3 weeks). Uniform increase of immune markers upon treatment was observed: CD8 mRNA (6.1-fold; p-0.034), GZMB mRNA (3.5-fold; p=0.058), ratios of CD8 /FOXP3 and GZMB/FOXP3 (5.7-fold; p=0.036, and 7.6-fold; p=0.024 respectively), thus successfully meeting the pre-determined primary endpoint in the study (increase in CD8 in TME). In addition, an increase in CTL attractants CXCL10 (2.6-fold; p=0.104) and CCL5 (3.3-fold; p=0.019) was observed. In contrast, Treg marker FOXP3 or Treg attractants CCL22 or CXCL12 were not enhanced. Three patients had stable disease lasting 2.4, 2.5 and 3.8 months, as of data cut off September 1, 2021. An additional patient (non-evaluable) had a partial response (breast tumor autoamputation) with massive tumor necrosis in the post-CKM biopsy.

Results from this proof-of-concept study indicated that short-term systemic chemokine modulating regimen (CKM) followed by pembrolizumab is generally well tolerated and selectively enhances local cytotoxic T-lymphocytes (CTLs) infiltration in the tumor microenvironment (TME), providing rationale for concurrent CKM and PD1 blockade in prospective Phase 2 studies.

Based on the pre-clinical and human clinical data seen to-date, the Company believes Ampligen has the potential to expand into treatment of solid tumors.

Quest Diagnostics Reports First Quarter 2022 Financial Results; Raises Guidance for Full Year 2022

On April 21, 2022 Quest Diagnostics Incorporated (NYSE: DGX), the world’s leading provider of diagnostic information services, reported financial results for the first quarter ended March 31, 2022 (Press release, Quest Diagnostics, APR 21, 2022, View Source [SID1234612761]).

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"We’re off to a good start in 2022, as we drove strong year-over-year growth in our base business, which excludes COVID-19 testing," said Steve Rusckowski, Chairman, CEO and President. "COVID-19 volumes remained strong early in the quarter and decreased in February and March, in line with the market. We continue to make investments to further accelerate growth in the base business, while our efforts to improve productivity are helping us to offset inflationary pressures. Based on our strong performance in the quarter and our expectations for the remainder of 2022 we have raised our full year guidance."

Three Months Ended March 31,

2022

2021

Change

(dollars in millions, except per share data)

Reported:

Net revenues

$ 2,611

$ 2,720

(4.0)%

Base business revenues (a)

$ 2,012

$ 1,892

6.3%

COVID-19 testing revenues

$ 599

$ 828

(27.6)%

Diagnostic information services revenues

$ 2,541

$ 2,643

(3.9)%

Revenue per requisition

(5.2)%

Requisition volume

1.3%

Organic requisition volume

—%

Operating income (b)

$ 513

$ 660

(22.3)%

Operating income as a percentage of net revenues (b)

19.7%

24.3%

(4.6)%

Net income attributable to Quest Diagnostics (b)

$ 355

$ 469

(24.3)%

Diluted EPS (b)

$ 2.92

$ 3.46

(15.6)%

Cash provided by operations

$ 480

$ 731

(34.2)%

Capital expenditures

$ 63

$ 86

(26.7)%

Adjusted (b):

Operating income

$ 554

$ 708

(21.8)%

Operating income as a percentage of net revenues

21.2%

26.0%

(4.8)%

Net income attributable to Quest Diagnostics

$ 392

$ 508

(23.0)%

Diluted EPS

$ 3.22

$ 3.76

(14.4)%

(a)

Excludes COVID-19 testing.

(b)

For further details impacting the year-over-year comparisons related to operating income, operating
income as a percentage of net revenues, net income attributable to Quest Diagnostics, and diluted EPS, see note 2 of the financial tables attached below.

Updated Guidance for Full Year 2022
The company raises its Full Year 2022 guidance as follows:

Updated Guidance

Prior Guidance

Low

High

Low

High

Net revenues

$9.2 billion

$9.5 billion

$9.0 billion

$9.5 billion

Net revenues decrease

(14.7)%

(11.9)%

(16.6)%

(11.9)%

Base business revenues (a)

$8.35 billion

$8.50 billion

$8.3 billion

$8.5 billion

Base business revenues increase

4.1%

6.0%

3.5%

6.0%

COVID-19 testing revenues

$0.85 billion

$1.00 billion

$0.7 billion

$1.0 billion

COVID-19 testing revenues decrease

(69.3)%

(63.9)%

(74.7)%

(63.9)%

Reported diluted EPS

$7.88

$8.38

$7.63

$8.33

Adjusted diluted EPS

$9.00

$9.50

$8.65

$9.35

Cash provided by operations

At least $1.6 billion

At least $1.6 billion

Capital expenditures

Approximately $400 million

Approximately $400 million

(a) Excludes COVID-19 testing

Note on Non-GAAP Financial Measures
As used in this press release the term "reported" refers to measures under accounting principles generally accepted in the United States ("GAAP"). The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, certain financial impacts resulting from the COVID-19 pandemic, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, costs associated with donations, contributions, and other financial support through Quest for Health Equity (our initiative with the Quest Diagnostics Foundation to reduce health disparities in underserved communities), gains and losses associated with changes in the carrying value of our strategic investments, and other items.

Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures.

Conference Call Information
Quest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, passcode: 7895081; or via live webcast on our website at www.QuestDiagnostics.com/investor. We suggest participants dial in approximately 10 minutes before the call.

A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or, from approximately 10:30 a.m. Eastern Time on April 21, 2022 until midnight Eastern Time on May 5, 2022, by phone at 800-583-8095 for domestic callers or 203-369-3815 for international callers. Anyone listening to the call is encouraged to read our periodic reports, on file with the Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.