Posted Financial Results for FY2021

On April 27, 2022 Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, "the Company") reported the financial results for fiscal year 2021 (FY2021) ended March 31, 2022 (Press release, Astellas, APR 27, 2022, View Source [SID1234613006]).

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1. Overview of business performance and others
(1) Overview of business performance for FY2021
1) Overview of consolidated financial results for FY2021 Consolidated financial results (core basis) in FY2021 are shown in the table below. While revenue increased, core operating profit and core profit for the year decreased

Established a new account, which includes gain on sale of rights of in-market products or pipeline assets, in the third quarter of FY2021

Revenue
-Main products XTANDI for the treatment of prostate cancer, XOSPATA for the treatment of acute myeloid leukemia, PADCEV for the treatment of urothelial cancer and EVRENZO for the treatment of renal anemia showed steady growth. In addition, the sales growth of Betanis / Myrbetriq / BETMIGA for the treatment of overactive bladder ("OAB") and EVENITY for the treatment of osteoporosis contributed to revenue growth as well.
-Moreover, another factor for the increase in sales in FY2021 was the sales of pharmacologic stress agent Lexiscan returning to pre-pandemic levels which decreased mainly in the first quarter of the previous fiscal year by the impact of the spread of COVID-19.
-The sales growth of the products above offset the sales decrease mainly due to the termination of sales agreements for Celecox for the treatment of inflammation and pain and Lipitor for the treatment of hypercholesterolemia, and the divestiture of Eligard for the treatment of prostate cancer. As a result of the above, revenue in FY2021 increased by 3.7% compared to those in the previous fiscal year ("year-on-year") to ¥1,296.2 billion. Core operating profit / Core profit for the year-Gross profit increased by 4.0% year-on-year to ¥1,043.2 billion. The cost-torevenue ratio fell by 0.2 percentage points year-on-year to 19.5%, mainly due to changes in product mix, despite the foreign exchange rate impact from the elimination of unrealized gains in intra-group transactions.-Selling, general and administrative expenses increased by 8.8% year-on-year to ¥548.8 billion.

The total amount increased mainly due to the impact of the foreign exchange rates (increase of ¥25.0 billion year-on-year), the increase of copromotion fees associated with the growth of sales of XTANDI in the United States (increase of ¥11.3 billion year-on-year), investment in Digital Transformation (increase of approximately ¥8.0 billion year-on-year), and the increase in sales promotion expenses for new product launch readiness (increase of approximately ¥5.0 billion year-on-year), despite a decrease in expenses due to the global optimization of personnel aligned with transformation of product portfolio (decrease of approximately ¥9.0 billion year-on-year). Selling, general and administrative expenses, excluding co-promotion fees of XTANDI in the United States, increased by 6.6% year-on-year to ¥409.5 billion.

-Research and development (R&D) expenses increased by 9.6% year-on-year to ¥246.0 billion. The total amount increased mainly due to the impact of the foreign exchange rates and also increases in development expenses for zolbetuximab, an anti-Claudin 18.2 monoclonal antibody and R&D investment for Rx+ business (related to iota).
-Amortisation of intangible assets increased by 19.0% year-on-year to ¥28.3 billion. 3-Gain on divestiture of intangible assets was ¥24.2 billion, including transfer of five products to Cheplapharm which were sold in Europe and other regions (¥12.3 billion), transfer of a pipeline asset (¥9.2 billion) and transfer of Bendamustine (¥2.0 billion) in the third quarter of FY2021.

As a result of the above, core operating profit decreased by 2.6% year-on-year to ¥244.7 billion, and core profit for the year decreased by 9.2% year-on-year to ¥190.6 billion. Impact of exchange rate on financial results The exchange rates for the yen in FY2021 are shown in the table below.

The resulting impacts were a ¥59.6 billion increase in revenue and an ¥18.5 billion increase in core operating profit compared with if the exchange rates of FY2020 were applied.

Tempest Announces Oral and Poster Presentations at the Upcoming 2022 ASCO Annual Meeting

On April 27, 2022 Tempest Therapeutics, Inc. (Nasdaq: TPST), a clinical-stage oncology company developing therapeutics that combine both targeted and immune-mediated mechanisms, reported that two abstracts were accepted for presentation at the 2022 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting taking place June 3-7, 2022 at the McCormick Place Convention Center in Chicago, IL (Press release, Tempest Therapeutics, APR 27, 2022, View Source [SID1234613025]). The results of the Phase 1 monotherapy and Phase 1 combination therapy studies with TPST-1120, a potential first-in-class PPARα antagonist, received an invitation for an oral presentation. The trial results will be presented on the podium by Mark Yarchoan, a clinical investigator from Johns Hopkins School of Medicine.

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In addition, the trials-in-progress abstract for TPST-1495, a potential first-in-class EP2/EP4 prostaglandin receptor dual antagonist, was accepted for a poster presentation.

"We are thrilled that ASCO (Free ASCO Whitepaper) recognized our two novel clinical programs and accepted the abstracts for presentation," commented Stephen Brady, chief executive officer of Tempest. "This will be the first presentation of clinical data from a Tempest program, and we are encouraged by the results from our completed Phase 1 study with TPST-1120, and excited about the ongoing first-line randomized study in patients with hepatocellular carcinoma."

Our abstracts will be released on Thursday, May 26, 2022 at 5:00 p.m. EDT on ASCO (Free ASCO Whitepaper).org/abstracts. We expect to also include data from the additional TPST-1120 patients enrolled after abstract submission.

Presentation details:

Title: A phase 1 study of TPST-1120 as a single agent and in combination with nivolumab in subjects with advanced solid tumors.

Session Typer/Title: Oral Abstract Session, Developmental Therapeutics – Molecularly Targeted Agents and Tumor Biology
Session Date and Time: Tuesday, June 7, 2022; 9:45 a.m. – 12:45 p.m. CDT
Abstract Number: 3005

Title: A phase 1 study of TPST-1495 as a single agent and in combination with pembrolizumab in subjects with solid tumors

Session Type/Title: Poster Session, Developmental Therapeutics – Immunotherapy
Session Date and Time: Sunday, June 5, 2022; 8:00 a.m. – 11:00 a.m. CDT
Abstract Number: TPST2696

Complete enrolment lead candidate FMPV-1 phase I study

On April 27, 2022 Hubro Therapeutics reported that enrolment to cohort 2 (8 subjects) is completed and that all subjects have received their initial doses in the company’s phase 1 trial with FMPV-1 in healthy volunteers (Press release, Hubro Therapeutics, APR 27, 2022, View Source [SID1234613041]). Due to the high proportion of subjects with early detected T cell mediated immune responses seen in cohort 1, cohort 2 is being conducted with the same dose as used cohort 1. To date, FMPV-1 has been very well tolerated and it is expected that the immune responses should be relevant in MSI-H colorectal and gastric cancer. Data on cohort 2 immune responses are expected in Q2.

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Onconova Therapeutics Announces Acceptance Of Abstract For Publication At The ASCO Annual Meeting

On April 27, 2022 Onconova Therapeutics, Inc. (NASDAQ: ONTX), a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, reported the acceptance of an abstract for publication at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting (Press release, Onconova, APR 27, 2022, View Source [SID1234613058]).

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Details on the abstract are provided below.

Abstract Title: Narazaciclib’s kinase inhibitory activity is differentiated from approved CDK4/6 inhibitors in preclinical models

Abstract Number: e15096

Publication Date and Time: May 26, 2022, at 5:00 p.m. ET

BeiGene to Present Clinical Data from Innovative Oncology Portfolio at 2022 ASCO Annual Meeting

On April 27, 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 presentations from the Company’s global clinical development programs in hematologic malignancies and solid tumors at the 2022 Annual Meeting of the American Society of Cancer Oncology (ASCO) (Free ASCO Whitepaper) being held on June 3-7, 2022 (Press release, BeiGene, APR 27, 2022, View Source [SID1234613074]).

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"We are pleased to have a robust presence at this year’s ASCO (Free ASCO Whitepaper) and very much look forward to meeting with fellow cancer researchers in person."

"We have more than 800 oncology researchers at BeiGene, and these data presentations highlight our important work to deliver potential new therapies to patients worldwide," said Lai Wang, Ph.D., Global Head of R&D at BeiGene. "We are pleased to have a robust presence at this year’s ASCO (Free ASCO Whitepaper) and very much look forward to meeting with fellow cancer researchers in person."

BeiGene presentation highlights:

ASPEN: Long-term follow-up results of a Phase 3 randomized trial of zanubrutinib versus ibrutinib in patients with Waldenström macroglobulinemia.
ROSEWOOD: Zanubrutinib plus obinutuzumab versus obinutuzumab monotherapy in patients with relapsed or refractory follicular lymphoma: primary analysis of the Phase 2 randomized ROSEWOOD trial.
RATIONALE 309: Updated progression-free survival (PFS), PFS after next line of treatment, and overall survival from a Phase 3 double-blind trial of tislelizumab versus placebo, plus chemotherapy, as first-line treatment for recurrent/metastatic nasopharyngeal cancer.
BeiGene Poster and Oral Presentations at the 2022 ASCO (Free ASCO Whitepaper) Annual Meeting

Abstract Title and Number

Session

Date and Time
(all times CDT)

Presenting Author

Hematologic Malignancies Clinical Data

Zanubrutinib plus obinutuzumab (Z-O) versus obinutuzumab (O) monotherapy in patients (pts) with relapsed or refractory (R/R) follicular lymphoma (FL): primary analysis of the phase 2 randomized ROSEWOOD trial

Abstract Number: 7510

Hematologic Malignancies—Lymphoma and Chronic Lymphocytic Leukemia

Saturday, June 4
8:00 AM – 11:00 AM
and
3:00 PM – 4:30 PM

Pier L. Zinzani, M.D., Ph.D.

ASPEN: Long-term follow-up results of a phase 3 randomized trial of zanubrutinib (ZANU) vs ibrutinib (IBR) in patients with Waldenström macroglobulinemia (WM)

Abstract Number: 7521

Hematologic Malignancies—Lymphoma and Chronic Lymphocytic Leukemia

Saturday, June 4

3:00 PM – 4:30 PM
and

8:00 AM – 11:00 AM

Constantine S. Tam, M.D.

Tislelizumab, a PD-1 inhibitor for relapsed/refractory mature T/NK-cell neoplasms: results from a phase 2 study

Abstract Number: 7552

Hematologic Malignancies—Lymphoma and Chronic Lymphocytic Leukemia

Saturday, June 4
8:00 AM – 11:00 AM

Emmanuel Bachy. M.D., Ph.D.

Solid Tumor Clinical Data

RATIONALE 309: Updated progression-free survival (PFS), PFS after next line of treatment, and overall survival from a Phase 3 double-blind trial of tislelizumab versus placebo, plus chemotherapy, as first-line treatment for recurrent/metastatic nasopharyngeal cancer

Abstract Number: 384950

Plenary Session

Sunday, June 5
1:00 PM – 4:00 PM

Li Zhang, M.D.

Clinical outcomes associated with tislelizumab in patients (pts) with advanced hepatocellular carcinoma (HCC) who have been previously treated with sorafenib (SOR) or lenvatinib (LEN) in RATIONALE-208.

Abstract Number: 4072

Poster session – Gastrointestinal Cancer – Gastroesophageal, Pancreatic and Hepatobiliary

Saturday, June 4
8:00 AM – 11:00 AM

Julien Edeline, M.D.

Zanidatamab (zani), a HER2-targeted bispecific antibody, in combination with docetaxel as first-line (1L) therapy for patients (pts) with advanced HER2-positive breast cancer: Preliminary results from a Phase 1b/2 study.

Abstract Number: 1031

Poster session – Breast Cancer – Metastatic

Monday, June 6
8:00 AM – 11:00 AM

Keun Seok Lee, M.D., M.S., Ph.D.

Zanidatamab (zani), a HER2-targeted bispecific antibody, in combination with chemotherapy (chemo) and tislelizumab (TIS) as first line (1L) therapy for patients (pts) with advanced HER2-positive gastric/gastroesophageal junction adenocarcinoma (G/GEJC): Preliminary results from a Phase 1b/2 study.

Abstract Number: 4032

Poster session – Gastrointestinal Cancer – Gastroesophageal, Pancreatic and Hepatobiliary

Saturday, June 4
8:00 AM – 11:00 AM

Keun-Wook Lee, M.D., M.S., Ph.D.

AdvanTIG-206: Anti-TIGIT monoclonal antibody (mAb) ociperlimab (BGB-A1217; OCI) plus anti-programmed cell death protein 1 (PD-1) mAb tislelizumab (TIS) plus BAT1706 versus TIS plus BAT1706 as first-line (1L) treatment for advanced hepatocellular carcinoma (HCC)

Abstract Number: TPS4172

Poster session – Gastrointestinal cancer – Gastroesophageal, Pancreatic, and Hepatobiliary

Saturday, June 4
8:00 AM – 11:00 AM

Jia Fan, M.D.

BeiGene Online Only Abstracts at 2022 ASCO (Free ASCO Whitepaper) Annual Meeting

Abstract Title

Abstract Number

Lead Author

Hematologic Malignancies Clinical Data

A phase 2 expanded access study of zanubrutinib (ZANU) in patients (pts) with Waldenström Macroglobulinemia (WM)

e19522

Jorge J. Castillo, M.D.

Solid Tumor Clinical Data

Clinical outcomes in patients (pts) with previously treated advanced hepatocellular carcinoma (HCC) experiencing hepatitis B virus (HBV) DNA increases during tislelizumab (TIS) treatment in RATIONALE-208.

e16181

Ann-Lii Cheng, M.D.

RATIONALE 302 PRO (encore): Tislelizumab versus chemotherapy as second-line treatment for advanced or metastatic esophageal squamous cell carcinoma (RATIONALE 302): impact on health-related quality of life

e16095

Eric Van Cutsem, M.D., Ph.D.

Randomized, Phase 3 study of second-line tislelizumab versus chemotherapy in advanced or metastatic esophageal squamous cell carcinoma (ESCC), RATIONALE 302: Asia subgroup.

e16107

Kuaile Zhao, M.D.

Updated analysis from a Phase 2 study of tislelizumab (TIS) monotherapy in patients (pts) with previously treated, locally advanced, unresectable/metastatic microsatellite instability-high (MSI-H)/mismatch repair-deficient (dMMR) solid tumors.

e14556

Jian Li, M.D., Ph.D

About BRUKINSA

BRUKINSA (zanubrutinib) is a small molecule inhibitor of Bruton’s tyrosine kinase (BTK) discovered by BeiGene scientists that is currently being evaluated globally in a broad clinical program as a monotherapy and in combination with other therapies to treat various B-cell malignancies. Because new BTK is continuously synthesized, BRUKINSA was specifically designed to deliver complete and sustained inhibition of the BTK protein by optimizing bioavailability, half-life, and selectivity. With differentiated pharmacokinetics compared to other approved BTK inhibitors, BRUKINSA has been demonstrated to inhibit the proliferation of malignant B cells within a number of disease relevant tissues.

BRUKINSA is supported by a broad clinical program which includes more than 3,900 subjects in 35 trials across 28 markets. To date, BRUKINSA has received more than 20 approvals covering more than 45 countries and regions, including the United States, China, the EU, Great Britain, Canada, Australia, and additional international markets. Currently, more than 40 additional regulatory submissions are in review around the world.

About Tislelizumab

Tislelizumab is an anti-programmed death receptor-1 (PD-1) inhibitor designed to help aid the body’s immune cells to detect and fight tumors. Tislelizumab, a humanized monoclonal antibody, is specifically designed to minimize binding to FcγR on macrophages. In pre-clinical studies, binding to FcγR on macrophages has been shown to compromise the anti-tumor activity of PD-1 antibodies through activation of antibody-dependent macrophage-mediated killing of T effector cells.

Tislelizumab is the first drug from BeiGene’s immuno-oncology biologics program and is being developed internationally as a monotherapy and in combination with other therapies for the treatment of a broad array of both solid tumor and hematologic cancers. BeiGene has initiated or completed more than 20 potentially registration-enabling clinical trials in 35 countries and regions, including 17 Phase 3 trials and four pivotal Phase 2 trials. More information on the clinical trial program for tislelizumab can be found at: View Source

Tislelizumab is approved by the China National Medical Products Administration (NMPA) as a treatment for eight indications, including multiple approvals in non-small cell lung cancer (NSCLC). Tislelizumab is currently in regulatory review in first line recurrent/metastatic nasopharyngeal cancer in China and as a potential treatment for unresectable recurrent locally advanced or metastatic esophageal squamous cell carcinoma (ESCC) after prior systemic therapy in the U.S. and in NSCLC and ESCC in Europe. In January 2021, BeiGene partnered with Novartis to accelerate the clinical development and marketing of tislelizumab in the U.S., Europe, and Japan.

BeiGene Oncology

BeiGene is committed to advancing best- and first-in-class clinical candidates internally or with like-minded partners to develop impactful and affordable medicines for patients across the globe. We have a growing R&D and medical affairs team of approximately 2,900 colleagues dedicated to advancing more than 100 clinical trials that have involved more than 14,500 subjects. Our expansive portfolio is directed predominantly by our internal colleagues supporting clinical trials in more than 45 countries and regions. Hematology-oncology and solid tumor targeted therapies and immuno-oncology are key focus areas for the Company, with both mono- and combination therapies prioritized in our research and development. BeiGene currently has three approved medicines discovered and developed in our own labs: BTK inhibitor BRUKINSA in the U.S., China, the European Union, Great Britain, Canada, Australia, and additional international markets; and the non-FC-gamma receptor binding anti-PD-1 antibody tislelizumab as well as the PARP inhibitor pamiparib in China.

BeiGene also partners with innovative companies who share our goal of developing therapies to address global health needs. We commercialize a range of oncology medicines in China licensed from Amgen, Bristol Myers Squibb, EUSA Pharma, and Bio-Thera. We also plan to address greater areas of unmet need globally through our other collaborations including with Mirati Therapeutics, Seagen, and Zymeworks.

In January 2021 BeiGene and Novartis announced a collaboration granting Novartis rights to co-develop, manufacture, and commercialize BeiGene’s anti-PD1 antibody tislelizumab in North America, Europe, and Japan. Building upon this productive collaboration, including a biologics license application (BLA) under U.S. Food and Drug Administration (FDA) review, BeiGene and Novartis announced an option, collaboration, and license agreement in December 2021 for BeiGene’s TIGIT inhibitor ociperlimab that is in Phase 3 development. Novartis and BeiGene also entered into a strategic commercial agreement through which BeiGene will promote five approved Novartis Oncology products across designated regions of China.