On May 11, 2021 Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a biotechnology company developing the next generation of immuno-oncology therapeutics based on its proprietary self-delivering RNAi (INTASYL) therapeutic platform, reported positive new in vivo data showing that PH-762 significantly enhanced the antitumor efficacy of HER2-targeted CAR-T cells (HER2CART) in solid tumors (Press release, Phio Pharmaceuticals, MAY 11, 2021, View Source [SID1234579687]). Compared to untreated HER2CART cells, HER2CART cells treated with PH-762 showed a statistically significant and durable inhibition of tumor growth. These data, using a HER2-targeted CAR-T cell product against a HER2-expressing ovarian cancer xenograft model, provide proof-of-concept for the application of PD-1 checkpoint silencing with INTASYL in CAR-T cells prior to adoptive cell therapy to enhance the therapeutic efficacy of CAR-T cell therapy in solid tumors.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"The in vivo data announced today further support advancing the development of PH-762 into the clinic as a viable approach to improve various forms of T cell based immunotherapy. These data are especially impressive considering that to date CAR T-cell therapy effectiveness in solid tumors has been disappointing and the use of additional genetic engineering to address these issues has proven challenging and costly. Indeed, in a recent clinical study it was shown that CRISPR-Cas9 mediated PD-1 disruption resulted in low efficiency, namely an editing efficiency of less than 6% and a median disruption of PD-1 expression of less than 50% in the edited T cells. This compares sharply with our results where we show that our INTASYL compound, PH-762, achieves PD-1 silencing efficiency of ~90% in nearly 100% of the HER2CART cells used in this study," stated Dr. Simon Fricker, Phio’s VP of Research. "In addition, these results are achieved by merely adding PH-762 to the HER2CART cell culture media, without the need for cell delivery vehicles or vectors, and without negative impact on cell growth/survival. In a prior presentation we also showed how PH-762 can improve the tumor cell killing activity of another adoptive cell therapy platform, namely tumor infiltrating lymphocytes. Taken together, you can start to see the full picture of the potential advancement that INTASYL could provide in adoptive cell therapy."

In this study the Company assessed the potential of PH-762, a PD-1 targeting INTASYL compound, to enhance the therapeutic efficacy of HER2CART cells in the treatment of a subcutaneous HER2-expressing SKOV3 model of human ovarian cancer in mice. On-target silencing of PD-1 in vitro was demonstrated in a dose associated manner in activated HER2CART cells, without significant impact on viability, and resulted in an enrichment of CD8+ and CD25+ cells. Analyses of PH-762-treated HER2CART cells isolated from tumors suggest that PH-762 enhances CAR-T function through multiple mechanisms including enhanced efficiency, degranulation, decreased suppressive potential, and promotion of memory/stem populations.

These data were presented today during the 24th Annual Meeting of the ASGCT (Free ASGCT Whitepaper) in a poster titled "INTASYL PH-762 Self-Delivering RNAi Targeting PD-1 Enhances the Therapeutic Efficacy of Systemically Administered HER2-Targeted CAR-T Cells in a SKOV3 Model of Human Ovarian Adenocarcinoma in NCG Mice". An archived version of the poster presentation will be made available on the "Investors – Events and Presentations" section of the Company’s website (click here).

On March 11, 2021 Catamaran Bio, Inc., a biotechnology company developing allogeneic CAR-NK cell therapies to treat solid tumors, reported that an oral presentation with results generated using an advanced transposon technology for non-viral engineering of CAR-NK cells will be highlighted at the virtual annual meeting of the American Society of Gene and Cell Therapy (ASGCT) (Free ASGCT Whitepaper), based on work from the laboratory of the company’s scientific founder, Branden Moriarity, PhD (Press release, Catamaran Bio, MAY 11, 2021, View Source [SID1234579703]). This is the first presentation of data for this novel transposon technology in NK cells, demonstrating high efficiency transposon integration in primary NK cells, subsequent cell expansion, and in vitro activity of the resulting CAR-NK cells. Dr. Moriarity, an Assistant Professor at the Medical School at the University of Minnesota in the Division of Pediatric Hematology/Oncology, is a pioneer in the fields of genome engineering and non-viral cell engineering and a scientific co-founder of Catamaran. In addition to an ongoing research collaboration with Dr. Moriarity, Catamaran also received support through an early investment from the University of Minnesota Discovery Capital investment program.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We congratulate our collaborators at the University of Minnesota for this landmark presentation, which provides the first demonstration that this transposon technology efficiently generates active CAR-NK cells and offers potential advantages compared to viral vectors in the manufacture of CAR-NK cells," said Vipin Suri, PhD, Chief Scientific Officer of Catamaran Bio. "This novel transposon technology demonstrates important capabilities for improved manufacturability, which will be essential in developing safe and effective cell therapies for solid tumors. We look forward to working with Dr. Moriarity as we develop and advance our CAR-NK programs."

The oral presentation, entitled "Non-Viral Engineering of CAR-NK Cells Using the TC Buster Transposon System," will occur on Thursday, May 13, 2021, at 6:30 p.m. ET during the Advances in Cellular and Immunotherapies session of the ASGCT (Free ASGCT Whitepaper) virtual meeting. The data presented highlights the following research findings:

Approximately 50% transposon integration efficiency using the transposon technology to deliver a multi‑cistronic chimeric antigen receptor (CAR) cassette into primary human peripheral blood NK cells.
Resulting cells underwent greater than 800-fold expansion and demonstrated efficacy in an in vitro cell-killing assay.
In contrast to the viral gene delivery methods commonly used in cell therapy manufacturing today, DNA transposon technology has the capacity to efficiently deliver large multi‑cistronic DNA cargoes and drive multiplex genome engineering via a single electroporation step. Transposons have the potential for more convenient and cost-effective manufacture of cell therapy products.

"We are pleased to present these data showing the effective transposon integration in primary NK cells with our transposon technology, the rapid expansion of the resulting CAR-NK cells and their activity in an in vitro model," said Dr. Moriarity. "I look forward to continuing to work closely with the team at Catamaran to utilize this technology in conjunction with their CAR-NK cell therapy platform as they advance new cell therapy approaches to treat solid tumors."

About the TAILWIND Platform

Catamaran’s TAILWIND Platform integrates proprietary capabilities to create novel, allogeneic CAR‑NK cell therapies by harnessing the natural cancer-fighting properties of natural killer (NK) cells and enhancing them with the power of synthetic biology and innovative NK cell engineering and manufacturing. With the TAILWIND Platform, CAR-NK cells are programmed with NK cell-specific CAR architectures and potency-boosting switches to neutralize the hostile tumor microenvironment and enable efficacy against diverse cancer types, especially solid tumors. Additionally, the TAILWIND Platform includes proprietary, non-viral NK cell engineering technology for efficient modification of NK cells with customized genetic programs enabled by synthetic biology. Catamaran’s CAR-NK cell therapies use healthy donor cells that are engineered and manufactured for off‑the‑shelf use, unlike current CAR-T cell therapies that use a patient’s own genetically modified T cells and require a customized, multi-week manufacturing process.

On May 11, 2021 NANOBIOTIX (Euronext : NANO – NASDAQ: NBTX), a late-stage clinical biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, reported a partnership with LianBio, a biotechnology company dedicated to bringing paradigm-shifting medicines to patients in China and major Asian markets, to develop and commercialize Nanobiotix lead product candidate NBTXR3, a potential first-in-class radioenhancer, in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore and Thailand. (Press release, Nanobiotix, MAY 11, 2021, View Source [SID1234579720])

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Shanghai and Princeton-based LianBio was founded by Perceptive Advisors with an innovative partnership model to develop and commercialize therapeutics in China and other Asian markets. LianBio’s cross-border development and commercialization expertise includes strong capabilities in oncology and NBTXR3 is the third investigational cancer treatment in the company’s portfolio. Given the global high unmet need in locally advanced and metastatic cancers, along with data supporting the potential of NBTXR3 across solid and metastatic tumor types, Nanobiotix continues to leverage strategic relationships with world class collaborators to expand and accelerate its pipeline while prioritizing Company resources to support development in head and neck cancer and immunotherapy.

"Discovery of practice-changing therapeutics for major diseases through a physics-based approach, with the support of people committed to making a difference for humanity, is our mission at Nanobiotix. We have long believed that NBTXR3 will significantly improve treatment outcomes for patients with any solid or metastatic tumor, and we are grateful that a partner with the talent and capability of LianBio has agreed to walk with us in our journey. Cancer is a disease that knows no borders and bringing our innovation to patients in Greater China with speed and determination is an absolute necessity," said Nanobiotix CEO and co-founder Laurent Levy.

"We purpose-built LianBio with a next-generation licensing model that enables us to meaningfully contribute to our partners’ global development initiatives in order to accelerate the availability of transformative therapeutics for patients throughout Asia," said Konstantin Poukalov, Executive Chairman of LianBio and Managing Director of Perceptive Advisors. "We believe NBTXR3 has a highly targeted nature and broadly applicable mechanism of action and thus has the potential to change radiotherapy and immuno-oncology treatment paradigms by addressing key limitations of current standards of care."

"The NBTXR3 therapeutic approach offers a promising avenue to address the significant burden of disease across multiple tumor types," said Debra Yu, M.D., President and Chief Business Officer, LianBio. "Our partnership will provide Nanobiotix with access to LianBio’s regional expertise and is designed to enable Nanobiotix to reach the growing number of cancer patients in China and other Asian markets who are in need of improved treatment options."

Under the terms of the agreement, LianBio will obtain exclusive rights to develop and commercialize NBTXR3 in Greater China, South Korea, Singapore, and Thailand. Nanobiotix will receive a $20 million upfront payment and is entitled to receive up to an aggregate of $220 million in potential contingent, development and commercialization milestone payments. Nanobiotix will also be eligible to receive tiered, low double-digit royalties based on net sales of NBTXR3 in the licensed territories. LianBio will participate in the Nanobiotix global phase III registrational study evaluating NBTXR3 for patients with locally advanced head and neck squamous cell carcinoma (HNSCC; head and neck cancer) by enrolling 100 patients in China in the study. In addition to the phase III head and neck cancer study, LianBio has committed to enroll patients in four additional registrational studies conducted by Nanobiotix across indications and therapeutic combinations potentially including immunotherapy. LianBio will fund all development and commercialization expenses in the collaboration territory, and Nanobiotix will continue to fund all development and commercialization expenses in all other geographies.

About NBTXR3
NBTXR3 is a novel, potentially first-in-class oncology product composed of functionalized hafnium oxide nanoparticles that is administered via one-time intratumoral injection and activated by radiotherapy. The product candidate’s physical mechanism of action (MoA) is designed to induce significant tumor cell death in the injected tumor when activated by radiotherapy, subsequently triggering adaptive immune response and long-term anti-cancer memory. Given the physical MoA, Nanobiotix believes that NBTXR3 could be scalable across any solid tumor that can be treated with radiotherapy and across any therapeutic combination, particularly immune checkpoint inhibitors.

NBTXR3 is being evaluated primarily in locally advanced head and neck squamous cell carcinoma (HNSCC). The company-sponsored phase I dose escalation and dose expansion study has produced consistently favorable safety data and early signs of efficacy; and a phase III global registrational study is planned to launch in 2021. In February 2020, the United States Food and Drug Administration granted regulatory Fast Track designation for the investigation of NBTXR3 activated by radiation therapy, with or without cetuximab, for the treatment of patients with locally advanced HNSCC who are not eligible for platinum-based chemotherapy—the same population being evaluated in the planned phase III study.

Nanobiotix has also prioritized an Immuno-Oncology development program—beginning with a Company-sponsored phase I clinical study evaluating NBTXR3 activated by radiotherapy in combination with anti-PD-1 checkpoint inhibitors for patients with locoregional recurrent or recurrent/metastatic HNSCC and lung or liver metastases from any primary cancer eligible for anti-PD-1 therapy.

Given the Company’s focus areas, and balanced against the scalable potential of NBTXR3, Nanobiotix has engaged in a strategic collaboration strategy with world class partners to expand development of the product candidate in parallel with its priority development pathways. Pursuant to this strategy, in 2019 The University of Texas MD Anderson Cancer Center entered into a broad, comprehensive clinical research collaboration with Nanobiotix to sponsor several phase I and phase II studies to evaluate NBTXR3 across tumor types and therapeutic combinations.

On May 10, 2021 Eagle Pharmaceuticals, Inc. (Nasdaq: EGRX) ("Eagle" or the "Company") reported financial results for the three months ended March 31, 2021 (Press release, Eagle Pharmaceuticals, MAY 10, 2021, View Source [SID1234579553]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Business and Recent Highlights:

Completed the last study required by FDA for the Company’s vasopressin product and expect to have the results shortly. Eagle plans to respond to the CRL issued for its first-to-file Abbreviated New Drug Applicable ("ANDA") for vasopressin in full by mid-year. The Company’s patent trial against Endo Par Innovation Company, LLC was postponed and is now scheduled to begin on July 7, 2021. The Company believes it will have first-to-file 180 day exclusivity for vasopressin;
Approval of TREAKISYM (bendamustine) RTD formulation, in combination with rituximab for treatment of relapsed or refractory diffuse large B-cell lymphoma ("r/r DLBCL") received from the Pharmaceuticals and Medical Devices Agency ("PMDA") in Japan. This represents a meaningful extension of Eagle’s bendamustine franchise and is expected to significantly increase the market opportunity;
Filing of TREAKISYM RI (50ml) liquid formulation with the PMDA in Japan. Eagle expects approximately $20-$25 million from combined royalty and milestone revenue in 2022 for TREAKISYM (bendamustine) RTD and RI formulations;
Appointed former FDA Official and Public Health Expert Dr. Luciana Borio to its Board of Directors; and
In active discussions for several promising in-licensing and acquisition candidates that the Company believes will strengthen its portfolio and pipeline going forward.
Financial Highlights

First Quarter 2021

Total revenue for Q1 2021 was $41.2 million, compared to $46.0 million in Q1 2020, primarily reflecting decreased product sales of RYANODEX and royalty revenue of BENDEKA.

Q1 2021 net loss was $0.4 million, or $0.03 per basic and diluted share, compared to net loss of $2.9 million, or $0.21 per basic and diluted share in Q1 2020.
Q1 2021 adjusted non-GAAP net income was $3.2 million, or $0.24 per basic and diluted share, compared to adjusted non-GAAP net income of $11.7 million, or $0.86 per basic and $0.84 per diluted share, in Q1 2020.
Cash and cash equivalents were $105.2 million, net accounts receivable was $44.9 million, and debt was $32.0 million as of March 31, 2021.
"Vasopressin is tracking as expected. The trial is now less than two months away and we have now completed the last study required to submit our response to the CRL to the FDA. Our expectation remains that we will receive final approval in time to bring the product to market this year. We believe we also have an outstanding and large opportunity with TREAKISYM in Japan representing another extension of our bendamustine franchise. Equally important and exciting is the PEMFEXY launch early next year, which gives us four months of initial exclusivity," stated Scott Tarriff, Chief Executive Officer of Eagle Pharmaceuticals.

"We are now in late-stage diligence for several in-licensing opportunities that would leverage our capabilities, meet our criteria and broaden our portfolio and pipeline. We will aim to finalize a few such transactions that have the potential to bolster our earnings both in the short and longer term," concluded Tarriff.

First Quarter 2021 Financial Results

Total revenue for the three months ended March 31, 2021 was $41.2 million, as compared to $46.0 million for the three months ended March 31, 2020.

Q1 2021 BELRAPZO product sales were $5.7 million, compared to $4.6 million in Q1 2020.

Q1 2021 RYANODEX product sales were $6.8 million, compared to $11.4 million in Q1 2020.

Royalty revenue was $24.1 million in the first quarter of 2021, compared to $28.3 million in the first quarter of 2020. BENDEKA royalties were $23.8 million in the first quarter of 2021, compared to $28.0 million in the first quarter of 2020. A summary of total revenue is outlined below:

Three Months Ended March 31,

2021

2020

(unaudited)

(unaudited)

Revenue (in thousands):

Product sales, net

$17,120

$17,694

Royalty revenue

24,129

28,326

Total revenue

$41,249

$46,020

Gross Margin was 74% during the first quarter of 2021, as compared to 83% in the first quarter of 2020. The compression in gross margin for the first quarter of 2021 was driven by revenue mix including the launch of TREAKISYM product sales to our partner in the first quarter of 2021, on which we earn no profit.

R&D expense was $14.3 million for the first quarter of 2021, compared to $9.4 million in the first quarter of 2020. The increase is largely attributable to $2.6 million in development costs for vasopressin, a $0.9 million increase in the cost for fulvestrant, and a $0.9 million increase in development costs for RYANODEX related projects. Excluding stock-based compensation and other non-cash and non-recurring items, R&D expense during the first quarter of 2021 was $13.1 million.

SG&A expenses in the first quarter of 2021 totaled $19.9 million compared to $24.8 million in the first quarter of 2020. The decrease is primarily related to the non-recurrence of a $2.5 million charge for the Tyme transaction, and lower marketing, travel, entertainment, and trade show expenses as a result of reduced travel due to the COVID-19 pandemic. Excluding stock-based compensation and other non-cash and non-recurring items, first quarter 2021 SG&A expense was $13.4 million.

Net loss for the first quarter of 2021 was $0.4 million, or $0.03 per basic and diluted share, compared to net loss of $2.9 million, or $0.21 per basic and diluted share, in the first quarter of 2020, due to the factors discussed above.

Adjusted non-GAAP net income for the first quarter of 2021 was $3.2 million, or $0.24 per basic and diluted share, compared to adjusted non-GAAP net income of $11.7 million or $0.86 per basic and $0.84 per diluted share in the first quarter of 2020. For a full reconciliation of adjusted non-GAAP net income to the most comparable GAAP financial measures, please see the tables at the end of this press release.

2021 Expense Guidance

R&D spend in 2021, on a non-GAAP basis, is expected to be $26-$30 million, as compared to $27.8 million in 2020.
SG&A spend in 2021, on a non-GAAP basis, is expected to be $52-$56 million, as compared to $50.9 million in 2020. This represents a reduction from earlier guidance for 2021 SG&A spend of $56-60 million.
The guidance provided in this section represents forward-looking information, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this press release.

Liquidity

As of March 31, 2021, the Company had $105.2 million in cash and cash equivalents plus $44.9 million in net accounts receivable. The Company had $32.0 million in outstanding debt. Therefore, as of March 31, 2021, the Company had net cash plus receivables of $118.1 million.

In the first quarter of 2021, the Company purchased $1.4 million of its common stock as part of its $160.0 million Share Repurchase Program. From August 2016 through March 31, 2021, the Company has repurchased $208.3 million of its common stock.

www.eagleus.com, under the "Investor + News" section

A replay of the conference call will be available for one week after the call’s completion by dialing 800-839-6980 (US) or 402-220-6062 (International) and entering conference call ID EGRXQ121. The webcast will be archived for 30 days at the aforementioned URL.

On May 10, 2021 NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, reported financial results for the first quarter ended March 31, 2021 (Press release, NanoString Technologies, MAY 10, 2021, View Source [SID1234579581]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

First Quarter Financial Highlights

Product and service revenue of $31.4 million, 28% year-over-year growth
Instrument revenue of $11.7 million, 19% year-over-year growth. Instrument revenue includes $7.0 million of GeoMx Digital Spatial Profiler (DSP) instrument revenue
Consumables revenue of $16.0 million, 39% year-over-year growth. Consumables revenue includes $2.7 million GeoMx DSP consumables revenue
Service revenue of $3.7 million, 17% year-over-year growth
Cash, cash equivalents and short-term investments balance of $409.9 million
"Spatial Biology is in a period of tremendous growth, revolutionizing research in fields from oncology to COVID-19. During Q1, NanoString extended its lead in this exciting market, with strong demand for our GeoMx DSP, a record number of new peer-reviewed publications, and growing excitement generated by our Spatial Molecular Imager," said Brad Gray, president and CEO of NanoString. "The launch of our GeoMx Whole Transcriptome Atlas is off to a great start, and is now driving more than 60% of new projects in our GeoMx Technology Access Program. Meanwhile, our nCounter business showed continued durability, with steady demand for new instruments continuing more than a decade after the platform’s introduction."

GeoMx DSP

GeoMx Installed Base: Grew installed base to approximately 160 GeoMx DSP Systems at March 31, 2021, as compared to approximately 55 at March 31, 2020
GeoMx Whole Transcriptome Atlas: Began commercial shipments of the GeoMx Whole Transcriptome Atlas in the first quarter
GeoMx Technology Access Program (TAP): Generated approximately 95 new GeoMx TAP orders in the first quarter, of which over 60% utilized the GeoMx Whole Transcriptome Atlas
GeoMx Publications: Increased cumulative peer-reviewed publications to 47 as of March 31, 2021, with a record 12 new publications during the quarter
2021 American Association of Cancer Research (AACR) (Free AACR Whitepaper) Conference: Highlighted an emerging body of spatial biology research that included eight abstracts that utilized GeoMx DSP, four of which were presented by investigators from the GeoMx Breast Cancer Consortium
Illumina Accelerator and Doloromics GeoMx Collaboration: Announced a collaboration with Illumina Accelerator and Doloromics that will leverage high-resolution spatial profiling for the development of a new generation of pain therapeutics
nCounter

nCounter Installed Base: Grew installed base to approximately 995 nCounter Analysis Systems at March 31, 2021, as compared to approximately 865 systems at March 31, 2020
nCounter Publications: Surpassed 4,300 cumulative peer-reviewed publications utilizing nCounter technology at March 31, 2021
2021 AACR (Free AACR Whitepaper) Conference: Highlighted the use of the nCounter Analysis System in approximately 45 scientific abstracts
Corporate

Appointment of New Board Members: Expanded the Board of Directors with the appointments of Dana Rollison, Ph.D., and Janet George. Dr. Rollison is vice president, chief data officer and associate center director of Data Science for the Moffit Cancer Center. Ms. George is group vice president of Autonomous Enterprise, Advanced Analytics with Machine Learning, and Artificial Intelligence for Oracle
First Quarter Financial Results

We have elected to present selected non-GAAP, or adjusted, financial measures, including Adjusted EBITDA. These adjusted financial measures are calculated excluding certain items that may make it more challenging to compare our GAAP operating results across periods. Such items may include collaboration revenue, stock-based compensation, depreciation and amortization, or one-time charges such as transaction related fees and expenses or restructuring charges and severance costs. A reconciliation of adjusted financial measures to the nearest comparable GAAP financial measure can be found in the notes and table at the end of this press release.

Supplemental Information

As a supplement to the table above, we have posted to the investor relations section of our website, at www.nanostring.com, supplemental financial data that includes our adjusted financial measures as compared to the nearest comparable GAAP financial measures, for the first quarter of 2021 and for each quarter of and the full year of 2020.

Conference Call

Management will host a conference call today beginning at 1:30 pm PT / 4:30 pm ET to discuss these results and answer questions. Investors and other interested parties can register for the call in advance by visiting View Source After registering, an email confirmation will be sent, including dial-in details and unique conference call codes for entry. Registration is open throughout the call, but to ensure connection for the full call, registration in advance is recommended. The link to the webcast and audio replay will be made available at the Investor Relations website: www.nanostring.com. A replay of the call will be available beginning May 10, 2021 at 7:30pm ET through midnight ET on May 17, 2021. To access the replay, dial (800) 585-8367 or (416) 621-4642 and reference Conference ID: 9493413. The webcast will also be available on our website for one year following the completion of the call.

Non-GAAP, or Adjusted, Financial Information

We believe that the presentation of non-GAAP, or adjusted, financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. Reconciliation of adjusted financial measures to the most directly comparable financial result as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. A reconciliation of adjusted guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding certain expenses that may be incurred in the future. For further information regarding why we believe that these adjusted measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to "Notes Regarding Non-GAAP Financial Information" at the end of this press release.