AVEO Oncology to Announce Full Year 2021 Financial Results and Host Conference Call and Webcast on March 14, 2022

On March 7, 2022 AVEO Oncology (Nasdaq: AVEO), a commercial stage, oncology-focused biopharmaceutical company, reported that it will report full year 2021 financial results on Monday, March 14, 2022 (Press release, AVEO, MAR 7, 2022, View Source [SID1234609580]). AVEO’s management team will host a conference call and audio webcast at 8:30 a.m. ET on Monday, March 14, 2022, to discuss the financial results and provide a business update .

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The call can be accessed by dialing (877) 423-9813 (U.S. and Canada) or (201) 689-8573 (international). The passcode for the conference call is 13727273. To access the live webcast, or the subsequent archived recording, please visit the Calendar of Events sub-section within the Investors section of the AVEO website at www.aveooncology.com.

Mission Therapeutics to participate in the 2022 Babraham Research Campus Signalling Event

On March 7, 2022 Mission Therapeutics ("Mission"), a drug discovery and development company focused on protein homeostasis by selectively inhibiting deubiquitylating enzymes (DUBs), reported that its VP of Translational Science, Dr Andy Pearce, will attend and present at the Babraham Research Campus Signalling Event on 9 March 2022 (Press release, Mission Therapeutics, MAR 7, 2022, View Source [SID1234609598]).

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In his presentation, titled ‘Targeting Deubiquitinase Enzymes for Treatment of a Broad Spectrum of Diseases’, Andy will discuss the Company, discovery platform, cross disease interest, and data from its lead program, USP30. The presentation at 13.35 will include time for questions and Andy will be available for one-to-one meetings.

Mission Therapeutics has built a world-leading proprietary DUB platform for the discovery and development of first-in-class drugs that selectively target specific disease-associated DUBs. As the VP of Translational Science, Dr Pearce leads the Translational Science department and drug discovery projects. He previously led projects and research groups for over 15 years at Novartis and GSK.

The Signalling Event will focus on the range of R&D ongoing across the Babraham campus, as well as highlighting scientific services and capabilities available on site.

Day One Reports Fourth Quarter and Full Year 2021 Financial Results and Corporate Progress

On March 7, 2022 Day One Biopharmaceuticals (Nasdaq: DAWN), a clinical-stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, reported its fourth quarter and full year 2021 financial results and highlighted recent corporate achievements (Press release, Day One, MAR 7, 2022, View Source [SID1234609618]).

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"Our clinical and corporate achievements in 2021 have set a solid foundation for a potentially transformational next 12 months," said Jeremy Bender, Ph.D., chief executive officer of Day One. "We expect to report the initial data from our pivotal Phase 2 FIREFLY-1 trial of DAY101 in relapsed pediatric low-grade glioma in June of 2022 followed by topline results in the first quarter of 2023. In addition, we are enrolling patients in our Phase 2 FIRELIGHT-1 monotherapy trial of DAY101 in RAF-altered solid tumors and are preparing to initiate a Phase 1b/2 combination portion of the study with our oral MEK inhibitor, pimasertib. As our clinical development programs continue to advance and expand, we remain well-capitalized to fund our operations into 2024 and we will continue to execute on our mission to provide innovative targeted therapies for people of all ages."

Program Highlights

•Initial data from FIREFLY-1, a pivotal Phase 2 clinical trial of DAY101 (tovorafenib) in pediatric low-grade glioma (pLGG), is expected in June 2022.

•FIREFLY-1 has reached targeted enrollment across approximately 30 sites globally. Day One anticipates releasing topline results from the study in the first quarter of 2023. Pending positive results from FIREFLY-1, Day One anticipates filing a new drug application (NDA) with the U.S. Food and Drug Administration (FDA) in 2023.

•The first patient has been dosed with a pediatric formulation in the FIREFLY-1 study.

•The Company plans to initiate a pivotal Phase 3 clinical trial (FIREFLY-2) evaluating DAY101 as a first-line therapy in pLGG in the second quarter of 2022.

•Day One is enrolling patients in the Phase 2 FIRELIGHT-1 trial evaluating DAY101 monotherapy in adults with recurrent, progressive, or refractory solid tumors harboring MAPK pathway aberrations, with 8 sites activated. Day One plans to expand FIRELIGHT-1 to include a Phase 1b/2 portion to evaluate DAY101 in combination with pimasertib, the Company’s MEK Inhibitor. The Company expects to initiate the combination portion of the study in March of 2022.

Fourth Quarter and Full Year 2021 Financial Highlights

•Cash Position: Cash and cash equivalents totaled $284.3 million on December 31, 2021. Based on Day One’s current operating plan, management believes it has sufficient capital resources to fund anticipated operations into 2024.

•R&D Expenses: Research and development expenses were $11.2 million and $43.6 million for the fourth quarter and full year ended December 31, 2021, respectively, as compared to $4.2 million and $9.1 million for the same periods in 2020. The increase was primarily due to additional employee compensation costs, milestone payments for licensing agreements, clinical trial, and product development expenses.

•G&A Expenses: General and administrative expenses were $10.8 million and $29.2 million for the fourth quarter and full year ended December 31, 2021, respectively, as compared to $2.0 million and $4.7 million for the same periods in 2020. The increase was primarily due to additional employee compensation costs, legal, and professional expenses associated with operating as a public company.

•Net Loss: Net loss totaled $21.9 million for the fourth quarter of 2021 with non-cash stock compensation expense of $5.1 million, compared to $35.6 million for the fourth quarter of 2020 with non-cash stock compensation expense of $0.4 million. Net loss was $72.8 million for the year ended December 31, 2021, with non-cash stock compensation expense of $13.3 million, compared to $43.8 million for the year ended December 31, 2020, with non-cash stock compensation expense of $0.5 million.

Upcoming Events

•Cowen 42nd Annual Health Care Conference
oManagement will participate in a fireside chat today, March 7 at 2:50 p.m. ET. A live and archived audio webcast of the discussion will be available by visiting the Events & Presentations section of the Company’s website.

About DAY101 (tovorafenib)

DAY101 (tovorafenib) is an investigational, oral, brain-penetrant, highly-selective type II pan-RAF kinase inhibitor designed to target a key enzyme in the MAPK signaling pathway. Studies have shown DAY101 has high brain distribution and exposure in comparison to other MAPK pathway inhibitors, thus potentially benefiting patients with primary brain tumors or brain metastases of solid tumors. DAY101 is a type II RAF inhibitor found to selectively inhibit both monomeric and dimeric RAF kinase.

DAY101 has been studied in over 250 patients, and as a monotherapy, previously demonstrated good tolerability and encouraging anti-tumor activity in pediatric and adult populations with specific MAPK pathway-alterations. DAY101 has been granted Breakthrough Therapy designation by the U.S. Food and Drug Administration (FDA) for the treatment of patients with pLGG harboring an activating RAF alteration who require systemic therapy and who have either progressed following prior treatment or who have no satisfactory alternative treatment options. The FDA has also granted Rare Pediatric Disease Designation to DAY101 for the treatment of low-grade gliomas harboring an activating RAF alteration that disproportionately affects children. In addition, DAY101 has received Orphan Drug designation from the FDA for the treatment of malignant glioma and orphan designation from the European Commission for the treatment of glioma.

DAY101 is being evaluated in a pivotal Phase 2 clinical trial (FIREFLY-1) for the treatment of pediatric low-grade glioma (pLGG). pLGG is the most common form of childhood brain cancer with no approved therapies. Day One has also initiated a Phase 1b/2 study (FIRELIGHT-1) with DAY101 in patients with recurrent or progressive solid tumors with activating RAF alterations and additional studies are planned with DAY101 alone or in combination with other agents that target key signaling nodes in the MAPK pathway, such as the Company’s MEK inhibitor pimasertib, in patient populations where RAS and RAF alterations are believed to play an important role in driving disease.

PHASE 3 TROPiCS-02 STUDY MET THE PRIMARY ENDPOINT OF PROGRESSION-
FREE SURVIVAL IN LATE-LINE HR+/HER2- METASTATIC BREAST CANCER

On March 7, 2022 Gilead Sciences, Inc. (Nasdaq: GILD) reported results from the Phase 3 TROPiCS-02 study evaluating Trodelvy (sacituzumab govitecan-hziy) in patients with HR+/HER2- metastatic breast cancer who received prior endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy (Press release, Gilead Sciences, MAR 7, 2022, View Source [SID1234609581]). The study met its primary endpoint with a statistically significant improvement in progression-free survival (PFS) versus physician’s choice of chemotherapy. The trial targeted a 30% reduction in the risk of disease progression or death. The primary endpoint results were consistent with those observed in the Phase 1/2 IMMU-132-01 study in a subset of HR+/HER2- metastatic breast cancer patients.1 The first interim analysis of the key secondary endpoint of overall survival in the TROPiCS-02 study demonstrated a trend in improvement for overall survival. Patients will be followed for a subsequent overall survival analysis. The safety profile for Trodelvy was consistent with prior studies, and no new safety concerns emerged in this patient population.

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"Trodelvy demonstrated consistent activity in this difficult-to-treat patient population," said Merdad Parsey, MD, PhD, Chief Medical Officer, Gilead Sciences. "We are evaluating the data and will explore potential pathways with regulatory authorities to bring Trodelvy to this group of patients. As we work to expand the patient benefit of Trodelvy beyond its current indications for second-line metastatic triple-negative breast cancer and accelerated approval in second-line metastatic bladder cancer, we are pursuing studies across multiple tumor types and earlier lines of therapy."

"HR+/HER2- breast cancer accounts for approximately 70% of all breast cancer cases. Patients with advanced breast cancer may eventually develop endocrine resistance, then resistance to a limited set of sequential chemotherapy options," said Hope Rugo, MD, Professor of Medicine and Director, Breast Oncology and Clinical Trials Education at the University of California San Francisco Comprehensive Cancer Center. "These data show the potential for Trodelvy to address an important unmet need for patients with HR+/HER2- metastatic breast cancer who have been heavily pretreated."

Detailed results from TROPiCS-02 will be presented at an upcoming medical conference.

Gilead has filed a current report on Form 8-K that includes this press release and some FAQs related to the information in this release. The information in this press release should be read in conjunction with the FAQs.

Trodelvy has not been approved by any regulatory agency for the treatment of HR+/HER2- metastatic breast cancer. Its safety and efficacy have not been established for this indication. Trodelvy has a Boxed Warning for severe or life-threatening neutropenia and severe diarrhea; please see below for additional Important Safety Information.

About the TROPiCS-02 Study

The TROPiCS-02 study is a global, multicenter, open-label, Phase 3 study, randomized 1:1 to evaluate Trodelvy versus physician’s choice of chemotherapy (eribulin, capecitabine, gemcitabine, or vinorelbine) in 543 patients with HR+/HER2- metastatic breast cancer who were previously treated with endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy. The primary endpoint is progression-free survival per Response Evaluation Criteria in Solid Tumors (RECIST 1.1) as assessed by blinded independent central review for participants treated with Trodelvy compared to those treated with chemotherapy. The trial targets a 30% reduction in the risk of disease progression or death and is powered to detect a statistically significant difference of at least 0.9 months in median PFS. Secondary endpoints include overall survival, duration of response, clinical benefit rate and overall response rate as well as assessment of safety and tolerability and quality of life measures. More information about TROPiCS-02 is available at View Source

About HR+/HER2- Breast Cancer

Hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) breast cancer is the most common type of breast cancer and accounts for approximately 70% of all new cases, or nearly 400,000 diagnoses worldwide each year. Almost one in three cases of early-stage breast cancer eventually become metastatic, and among patients with HR+/HER2- metastatic disease, the five-year relative survival rate is 30%. As patients with HR+/HER2- metastatic breast cancer become resistant to endocrine-based therapy, their primary treatment option is limited to single-agent chemotherapy. For patients treated with single-agent chemotherapy, the prognosis remains poor.

About Trodelvy

Trodelvy (sacituzumab govitecan-hziy) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types, including in more than 90% of breast and bladder cancers. Trodelvy is intentionally designed with a proprietary hydrolyzable linker attached to SN-38, a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment.

Trodelvy is approved in more than 35 countries, with multiple additional regulatory reviews underway worldwide, for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) who have received two or more prior systemic therapies, at least one of them for metastatic disease. Trodelvy is also approved in the U.S. under the accelerated approval pathway for the treatment of adult patients with locally advanced or metastatic urothelial cancer (UC) who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor.

Trodelvy is also being developed for potential investigational use in other TNBC and metastatic UC populations, as well as a range of tumor types where Trop-2 is highly expressed, including hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) metastatic breast cancer, metastatic non-small cell lung cancer (NSCLC), metastatic small cell lung cancer (SCLC), head and neck cancer, and endometrial cancer.

U.S. Indication for Trodelvy

In the United States, Trodelvy is indicated for the treatment of:

Adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease.
Adult patients with locally advanced or metastatic UC who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor. This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial.
U.S. Important Safety Information for Trodelvy

BOXED WARNING: NEUTROPENIA AND DIARRHEA

Severe or life-threatening neutropenia may occur. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 or neutropenic fever. Monitor blood cell counts periodically during treatment. Consider G-CSF for secondary prophylaxis. Initiate anti-infective treatment in patients with febrile neutropenia without delay.
Severe diarrhea may occur. Monitor patients with diarrhea and give fluid and electrolytes as needed. Administer atropine, if not contraindicated, for early diarrhea of any severity. At the onset of late diarrhea, evaluate for infectious causes and, if negative, promptly initiate loperamide. If severe diarrhea occurs, withhold Trodelvy until resolved to ≤Grade 1 and reduce subsequent doses.
CONTRAINDICATIONS

Severe hypersensitivity reaction to Trodelvy.
WARNINGS AND PRECAUTIONS

Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 61% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 47% of patients. Febrile neutropenia occurred in 7%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever.

Diarrhea: Diarrhea occurred in 65% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 12% of patients. One patient had intestinal perforation following diarrhea. Neutropenic colitis occurred in 0.5% of patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments.

Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 37% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.3%. The incidence of anaphylactic reactions was 0.3%. Pre-infusion medication is recommended. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Medication to treat such reactions, as well as emergency equipment, should be available for immediate use. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions.

Nausea and Vomiting: Nausea occurred in 66% of all patients treated with Trodelvy and Grade 3 nausea occurred in 4% of these patients. Vomiting occurred in 39% of patients and Grade 3-4 vomiting occurred in 3% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting.

Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 67% in patients homozygous for the UGT1A1*28, 46% in patients heterozygous for the UGT1A1*28 allele and 46% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 25% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 11% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function.

Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose.

ADVERSE REACTIONS

In the ASCENT study (IMMU-132-05), the most common adverse reactions (incidence ≥25%) were fatigue, neutropenia, diarrhea, nausea, alopecia, anemia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes.

In the TROPHY study (IMMU-132-06), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, neutropenia, nausea, any infection, alopecia, anemia, decreased appetite, constipation, vomiting, abdominal pain, and rash. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes.

DRUG INTERACTIONS

UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy.

UGT1A1 Inducers: Exposure to SN-38 may be substantially reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy.

Targovax ASA and Agenus announce collaboration on mutant KRAS cancer vaccine adjuvanted with QS-21 STIMULON™

On March 7, 2022 Targovax ASA (OSE: TRVX), a clinical-stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors, and Agenus (NASDAQ: AGEN), an immuno-oncology company with an extensive pipeline of checkpoint antibodies, adjuvants, and vaccines designed to activate immune response to cancers and infections, reported that they have entered into a clinical collaboration and supply agreement to combine Targovax’s TG mutant KRAS cancer vaccines with Agenus´s clinically validated and FDA approved QS-21 STIMULON adjuvant (Press release, Targovax, MAR 7, 2022, View Source [SID1234609599]).

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The TG vaccines are peptide mixtures designed to elicit polyvalent immune responses against the most frequent mutations in the RAS gene family, which drive up to 30% of all cancers. TG01 has shown promise in phase 1/2 clinical trials, and Targovax has recently been awarded two prestigious research grants providing up to NOK 18m in funding to advance the TG program. Cancer vaccines require combination with an adjuvant in order to stimulate antigen processing and T-cell priming, and Targovax has selected QS-21 STIMULON as the adjuvant of choice for continued clinical development.

QS-21 STIMULON is a purified, natural saponin proprietary to Agenus. It has been widely studied in over 120 clinical trials and consistently demonstrated powerful antibody and cell-mediated immune responses as well as a favorable safety profile. QS-21 STIMULON is a critical component of multiple vaccines, including GSK’s FDA approved Shingrix shingles vaccine with protection exceeding 9 years, and the world’s first malaria vaccine Mosquirix.

Under the collaboration with Targovax, Agenus will supply QS-21 STIMULON and scientific support for up to three initial TG01 clinical trials in different cancer indications. If the clinical results meet certain pre-specified performance targets, the collaboration will be extended into an exclusive pivotal development and commercialization agreement where Agenus will be entitled to tiered double-digit royalties on future TG vaccine sales.

Dr. Garo H. Armen, Chief Executive Officer of Agenus Inc., said: "We look forward to collaborating with Targovax to extend the benefit of QS-21 STIMULON to new patient populations such as those harboring KRAS-mutated cancers. It highlights the broad applicability of our QS-21 STIMULON technology and could unlock a sizeable commercial opportunity in KRAS-mutated cancers."

Dr. Erik Digman Wiklund, Chief Executive Officer of Targovax ASA, added: "QS-21 STIMULON is arguably the most clinically and commercially successful FDA approved adjuvant for protein- and peptide-based vaccines, and has proven highly effective in eliciting immune responses. We expect that this unique adjuvant will further enhance the efficacy of our TG01 and TG02 products, and see it as a critical component of our development strategy as we prepare to bring the TG vaccines back into the clinic in multiple mutant KRAS cancers."