Imago BioSciences Reports Second Quarter 2021 Financial Results and Provides Recent Business Updates

On August 19, 2021 Imago BioSciences, Inc. ("Imago") (Nasdaq: IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), reported financial results for the second quarter ended June 30, 2021 and highlighted recent corporate updates (Press release, Imago BioSciences, AUG 19, 2021, View Source [SID1234586752]).

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"2021 to date has been a transformative year for Imago BioSciences. We have made progress in advancing the clinical development of our lead product candidate bomedemstat for the treatment of blood cancers where the unmet medical need persists. Our growth was anchored by a number of key accomplishments, including our first report on the clinical activity of bomedemstat in essential thrombocythemia at the European Hematology Association (EHA) (Free EHA Whitepaper) meeting in June, as well as an update from our Phase 2 24-week myelofibrosis trial which is now fully enrolled, expanding our team, and finally, the successful completion of our IPO in July," said Dr. Hugh Y. Rienhoff, Jr., M.D, chief executive officer of Imago BioSciences. "With this momentum, we look forward to continuing enrollment in our Phase 2 trial of bomedemstat in essential thrombocythemia, COVID permitting, and providing updates on both of these ongoing company-sponsored, clinical trials before year-end."

Recent Corporate Developments and Pipeline Updates

Expanded Executive Management Team: In May 2021, Imago appointed Wan-Jen Hong, M.D., as chief medical officer. Dr. Hong joins Imago after 7 years at Genentech, where she served as Group Medical Director in their late-stage clinical development group focused on hematologic oncology.
Completed Enrollment of Phase 2 Myelofibrosis Trial: In May 2021, Imago completed enrollment of 89 patients with advanced myelofibrosis in its Phase 2, 24 week clinical trial of bomedemstat.
Presented Data from Two Phase 2 Studies of Bomedemstat at 2021 European Hematology Association (EHA) (Free EHA Whitepaper) Virtual Congress: In June 2021, Imago provided updates at the 2021 EHA (Free EHA Whitepaper) Virtual Congress on two Phase 2 clinical trials of bomedemstat, one in patients with essential thrombocythemia (ET) and the second in patients with advanced myelofibrosis (MF). The interim results demonstrate continued encouraging clinical activity and tolerability in these patient groups.
Received Orphan Designation for Bomedemstat in ET from EMA: In June 2021, Imago received orphan designation for bomedemstat for the treatment of essential thrombocythemia (ET) from the European Medicines Agency (EMA). Orphan designation by the EMA is designed to encourage the development of new treatments for life-threatening or chronically debilitating conditions affecting no more than 5 in 10,000 people in the European Union.
Successful Completion of Initial Public Offering (IPO): In July 2021, Imago completed an initial public offering and concurrent private placement with Pfizer, resulting in gross proceeds of $174.6 million.
Second Quarter 2021 Financial Results

Cash and Cash Equivalents: As of June 30, 2021, Imago had cash, cash equivalents, restricted cash and short-term investments of $81.1 million. Cash as of June 30, 2021 excludes the net proceeds of approximately $163.7 million from the IPO and private placement, after deducting underwriting discounts and commissions of $10.8 million.
Research & Development (R&D) Expenses: R&D expenses for the quarter ended June 30, 2021 were $7.1 million (including stock-based compensation expense of $0.1 million) as compared to $3.4 million for the same period in 2020. The overall increase in R&D expenses was primarily related to the Phase 2 clinical trial for ET, continued development of commercial material and material to support the ongoing and new clinical trials, and salaries and non-cash stock-based compensation expense for R&D employees as we ramped up our operations.
General and Administrative (G&A) Expenses: G&A expenses for the quarter ended June 30, 2021 were $1.7 million (including stock-based compensation expense of $0.3 million) as compared to $0.6 million for the same period in 2020. The overall increase in G&A expenses was primarily driven by increasing costs in connection with our preparation to become a public company.
Net Loss: Net loss for the quarter ended June 30, 2021 was $8.8 million compared to $3.7 million for the same period in 2020.

Marker Therapeutics Awarded $13.1 Million Grant from the Cancer Prevention and Research Institute of Texas

On August 19, 2021 Marker Therapeutics, Inc. (Nasdaq:MRKR), a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, reported that the Company received notice of a Product Development Research award totaling approximately $13.1 million from the Cancer Prevention and Research Institute of Texas (CPRIT) to support the Company’s Phase 2 clinical trial of its lead MultiTAA-specific T cell product MT-401 (Press release, Marker Therapeutics, AUG 19, 2021, View Source [SID1234586767]).

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The CPRIT award is intended to support the adjuvant arm of the Company’s Phase 2 clinical trial evaluating MT-401 when given as an adjuvant therapy to patients with acute myeloid leukemia (AML) following a hematopoietic stem cell transplant. The primary objectives of the adjuvant arm of the trial are to evaluate relapse-free survival after MT-401 treatment when compared with a randomized control group.

"We are honored to have been approved by CPRIT for this award which provides additional capital to support the clinical development of MT-401 and external validation of our technology from experts in the field who conducted business and scientific diligence on behalf of CPRIT," said Peter L. Hoang, President & CEO of Marker Therapeutics. "Our MultiTAA-specific T cell therapy approach has shown encouraging results in post-transplant AML in clinical studies, and we are pleased to advance the clinical development of MT-401 in our Phase 2 trial."

Janssen Presents Phase 1 Results for RYBREVANT™ (amivantamab-vmjw) in the Treatment of Patients with Advanced Non-Small Cell Lung Cancer with MET Exon 14 Skipping Mutations

On August 19, 2021 The Janssen Pharmaceutical Companies of Johnson & Johnson reported preliminary data from the Phase 1 CHRYSALIS study evaluating RYBREVANTTM (amivantamab-vmjw) for the treatment of patients with non-small cell lung cancer (NSCLC) with mesenchymal-epithelial transition (MET) exon 14 skipping (METex14) mutations (Press release, Johnson & Johnson, AUG 19, 2021, View Source [SID1234586768]). The initial data showed anti-tumor activity in patients with METex14 mutations and a safety profile consistent with reported experience at the approved CHRYSALIS Phase 2 dose (RYBREVANTTM 1050 mg [<80 kg] / 1400 mg [≥80 kg]).1 These findings will be featured at the virtual International Association for the Study of Lung Cancer’s (IASLC) 2021 World Conference on Lung Cancer (WCLC) taking place from September 8-14 in Denver as an oral presentation (Abstract #OA15.03).

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METex14 mutations are found in approximately three percent of patients with NSCLC.2 These genetic alterations result in hyperactivation of the MET receptor with corresponding cancer cell growth.3 While MET inhibitors have recently received accelerated approval in this setting in some regions, the vast majority of patients eventually acquire resistance to these therapies, thus underscoring the need for new treatment options.4,5,6

"Newer treatment advances for non-small cell lung cancer provide benefit to patients with MET exon 14 skipping mutations, but because they are effective for only a finite period of time, patients ultimately find themselves in need of new therapies," said Alexander Spira, M.D., Ph.D., FACP, Director of the Virginia Cancer Specialists Research Institute, Co-Chair U.S. Oncology Thoracic Program and presenting study investigator†. "We look forward to sharing these latest results for amivantamab that suggest its novel mechanism of action may be of benefit to people living with this type of lung cancer."

In the METex14 cohort of the Phase 1 CHRYSALIS study, 19 patients with this genetic alteration received intravenous RYBREVANTTM 1050 mg (for patients who weigh <80 kg) or 1400 mg (for patients who weigh ≥80 kg).1 Disease response was evaluated using overall response rate (ORR), per Response Evaluation Criteria in Solid Tumors Version 1.1* (RECIST v1.1) as the primary endpoint.1 Of the 14 response-evaluable patients, partial responses were observed in 64 percent with four patients pending confirmation.1 Activity was observed in treatment-naïve and previously-treated patients, including four of seven patients previously treated with MET tyrosine kinase inhibitors (TKIs).1 The median time to first response was 4.1 months (range, 1.6–9.9).1

The majority of treatment-related adverse events (AEs) were Grade 1-2.1 Treatment-related Grade ≥3 AEs were observed in three patients (16 percent), which included dyspnea (N=1), hypoalbuminemia (N=1) and rash (N=1).1 The incidence of treatment-related AEs leading to dose reduction and discontinuation was 11 percent and five percent, respectively.1 Dose interruptions occurred in 32 percent of patients.1

In May 2021, RYBREVANTTM received U.S. Food and Drug Administration (FDA) approval for patients with locally advanced or metastatic NSCLC with epidermal growth factor receptor (EGFR) exon 20 insertion mutations, based on data showing an ORR of 40 percent (95 percent CI, 29 – 51) and median duration of response of 11.1 months (95 percent CI, 6.9 – NE).7

"While the recent FDA approval of RYBREVANT was an important milestone for patients with non-small cell lung cancer with EGFR exon 20 insertion mutations, there continues to be a lack of long-term treatment options for patients with other mutations, including MET exon 14 skipping mutations," said Kiran Patel, M.D., Vice President, Clinical Development, Solid Tumors, Janssen Research & Development, LLC. "We are encouraged by these data showing evidence that RYBREVANTTM can lead to broad activity against both EGFR and MET-driven tumors."

About RYBREVANTTM
RYBREVANTTM (amivantamab-vmjw) received accelerated approval by the U.S. FDA for the treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 20 insertion mutations, as detected by an FDA-approved test, whose disease has progressed on or after platinum-based chemotherapy in May 2021.7 Janssen has filed regulatory submissions for RYBREVANTTM with health authorities in Europe and other markets. RYBREVANTTM is being studied in multiple clinical trials, including a Phase 1/1b study, CHRYSALIS-2 (NCT04077463) to examine the combination in patients who have progressed after treatment with osimertinib and chemotherapy; as first-line therapy in untreated advanced EGFR-mutated NSCLC in the Phase 3 MARIPOSA (NCT04487080) study assessing amivantamab in combination with lazertinib**; the planned Phase 3 MARIPOSA-2 (NCT04988295) study assessing the efficacy of lazertinib, amivantamab, carboplatin-pemetrexed vs. with carboplatin-pemetrexed in patients with locally advanced or metastatic EGFR exon 19 deletion or exon 21 L858R substitution NSCLC after osimertinib failure; the Phase 3 PAPILLON (NCT04538664) study assessing RYBREVANTTM in combination with carboplatin-pemetrexed for patients with advanced or metastatic EGFR-mutated NSCLC and exon 20 insertion mutations; and the Phase 1 PALOMA (NCT04606381) study assessing the feasibility of subcutaneous (SC) administration of RYBREVANTTM based on safety and pharmacokinetics and to determine a dose, dose regimen and formulation for RYBREVANTTM SC delivery.8,9,10,11,12

**In 2018, Janssen Biotech, Inc. entered into a license and collaboration agreement with Yuhan Corporation for the development of lazertinib.

About the CHRYSALIS Study
CHRYSALIS (NCT02609776) is a Phase 1 open-label, multicenter, first-in-human study to evaluate the safety, pharmacokinetics and preliminary efficacy of RYBREVANTTM as a monotherapy and in combinations including with lazertinib, a novel third-generation EGFR TKI13, in adults with advanced NSCLC.12 The study consists of two parts: RYBREVANTTM monotherapy and combination-dose escalations and RYBREVANTTM monotherapy and combination-dose expansions.12

About Non-Small Cell Lung Cancer (NSCLC)
Worldwide, lung cancer is one of the most common cancers, and NSCLC makes up 80 to 85 percent of all lung cancers.14,15 The main subtypes of NSCLC are adenocarcinoma, squamous cell carcinoma and large cell carcinoma.16 Among the most common driver mutations in NSCLC are alterations in EGFR, which is a receptor tyrosine kinase supporting cell growth and division.16 EGFR mutations are present in 10 to 15 percent17,18,19,20,21 of people with NSCLC adenocarcinoma and occur in 40 to 50 percent of Asians.22,23 METex14 mutations are found in approximately three percent of patients with NSCLC.2

RYBREVANT IMPORTANT SAFETY INFORMATION7

WARNINGS AND PRECAUTIONS

Infusion Related Reactions7
RYBREVANT can cause infusion related reactions (IRR); signs and symptoms of IRR include dyspnea, flushing, fever, chills, nausea, chest discomfort, hypotension, and vomiting.

Based on the safety population, IRR occurred in 66% of patients treated with RYBREVANT. Among patients receiving treatment on Week 1 Day 1, 65% experienced an IRR, while the incidence of IRR was 3.4% with the Day 2 infusion, 0.4% with the Week 2 infusion, and cumulatively 1.1% with subsequent infusions. Of the reported IRRs, 97% were Grade 1-2, 2.2% were Grade 3, and 0.4% were Grade 4. The median time to onset was 1 hour (range 0.1 to 18 hours) after start of infusion. The incidence of infusion modifications due to IRR was 62% and 1.3% of patients permanently discontinued RYBREVANT due to IRR.

Premedicate with antihistamines, antipyretics, and glucocorticoids and infuse RYBREVANT as recommended. Administer RYBREVANT via a peripheral line on Week 1 and Week 2. Monitor patients for any signs and symptoms of infusion reactions during RYBREVANT infusion in a setting where cardiopulmonary resuscitation medication and equipment are available. Interrupt infusion if IRR is suspected. Reduce the infusion rate or permanently discontinue RYBREVANT based on severity.

Interstitial Lung Disease/Pneumonitis7
RYBREVANT can cause interstitial lung disease (ILD)/pneumonitis. Based on the safety population, ILD/pneumonitis occurred in 3.3% of patients treated with RYBREVANT, with 0.7% of patients experiencing Grade 3 ILD/pneumonitis. Three patients (1%) discontinued RYBREVANT due to ILD/pneumonitis.

Monitor patients for new or worsening symptoms indicative of ILD/pneumonitis (e.g., dyspnea, cough, fever). Immediately withhold RYBREVANT in patients with suspected ILD/pneumonitis and permanently discontinue if ILD/pneumonitis is confirmed.

Dermatologic Adverse Reactions7
RYBREVANT can cause rash (including dermatitis acneiform), pruritus and dry skin. Based on the safety population, rash occurred in 74% of patients treated with RYBREVANT, including Grade 3 rash in 3.3% of patients. The median time to onset of rash was 14 days (range: 1 to 276 days). Rash leading to dose reduction occurred in 5% of patients, and RYBREVANT was permanently discontinued due to rash in 0.7% of patients.

Toxic epidermal necrolysis occurred in one patient (0.3%) treated with RYBREVANT.

Instruct patients to limit sun exposure during and for 2 months after treatment with RYBREVANT. Advise patients to wear protective clothing and use broad spectrum UVA/UVB sunscreen. Alcohol free emollient cream is recommended for dry skin.

If skin reactions develop, start topical corticosteroids and topical and/or oral antibiotics. For Grade 3 reactions, add oral steroids and consider dermatologic consultation. Promptly refer patients presenting with severe rash, atypical appearance or distribution, or lack of improvement within 2 weeks to a dermatologist. Withhold, dose reduce or permanently discontinue RYBREVANT based on severity.

Ocular Toxicity7
RYBREVANT can cause ocular toxicity including keratitis, dry eye symptoms, conjunctival redness, blurred vision, visual impairment, ocular itching, and uveitis. Based on the safety population, keratitis occurred in 0.7% and uveitis occurred in 0.3% of patients treated with RYBREVANT. All events were Grade 1-2. Promptly refer patients presenting with eye symptoms to an ophthalmologist. Withhold, dose reduce or permanently discontinue RYBREVANT based on severity.

Embryo Fetal Toxicity7
Based on its mechanism of action and findings from animal models, RYBREVANT can cause fetal harm when administered to a pregnant woman. Advise females of reproductive potential of the potential risk to the fetus. Advise female patients of reproductive potential to use effective contraception during treatment and for 3 months after the final dose of RYBREVANT.

Adverse Reactions7
The most common adverse reactions (≥20%) were rash, IRR, paronychia, musculoskeletal pain, dyspnea, nausea, fatigue, edema, stomatitis, cough, constipation, and vomiting. The most common Grade 3 or 4 laboratory abnormalities (≥2%) were decreased lymphocytes, decreased albumin, decreased phosphate, decreased potassium, increased alkaline phosphatase, increased glucose, increased gamma-glutamyl transferase, and decreased sodium.

New Publication Date for Allarity Therapeutics’ Q2 2021 Interim Report

On August 19, 2021 Allarity Therapeutics A/S ("Allarity" or the "Company") reported a new publication date for the Company’s Q2 2021 Interim Report, which is now being made public on August 23, 2021 (previously: August 31, 2021) (Press release, Allarity Therapeutics, AUG 19, 2021, View Source [SID1234586789]).

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The reason for the change of publication date is to accelerate the Company’s preparations for the transformation and recapitalization as announced on May 21, 2021 as the Company advances towards migration to listing on the U.S. Nasdaq stock market (New York, N.Y.).

RedHill Biopharma to Host Second Quarter 2021 Financial Results and Operational Highlights Webcast on August 26, 2021

On August 19, 2021 RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, reported that it will report its second quarter 2021 financial results and operational highlights on Thursday, August 26, 2021 (Press release, RedHill Biopharma, AUG 19, 2021, View Source [SID1234586754]).

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The Company will host a webcast on Thursday, August 26, 2021, at 8:30 a.m. EDT, during which it will present key highlights.

The webcast including slides will be broadcast live on the Company’s website, View Source, and will be available for replay for 30 days.

To participate in the conference call, please dial one of the following numbers 15 minutes prior to the start of the call: United States: +1-877-870-9135; International: +1-646-741-3167 and Israel: +972-3-530-8845; the access code for the call is:5554521.