Abbott Increases Quarterly Dividend by 25%

On December 11, 2020 Abbott (NYSE: ABT) reported that its board of directors has increased the company’s quarterly common dividend to 45 cents per share, reflecting a 25% increase (Press release, Abbott, DEC 11, 2020, View Source [SID1234572662]).

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"Paying a strong and growing dividend is foundational to Abbott," said Robert B. Ford, president and chief executive officer, Abbott. "The increase reflects the strength and momentum of Abbott’s diversified business and our ability to invest in future growth while returning immediate value to shareholders."

This marks the 388th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Feb. 16, 2021, to shareholders of record at the close of business on Jan. 15, 2021.

Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.

Trastuzumab Deruxtecan Recommended for Approval in the EU by CHMP for HER2 Positive Metastatic Breast Cancer

On December 11, 2020 Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo) and AstraZeneca reported that trastuzumab deruxtecan has been recommended for conditional marketing authorization in the European Union (EU) as monotherapy for the treatment of adult patients with unresectable or metastatic HER2 positive breast cancer who have received two or more prior anti-HER2 based regimens (Press release, Daiichi Sankyo, DEC 11, 2020, View Source [SID1234572695]).

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In Europe, approximately 520,000 cases of breast cancer in women are diagnosed annually, with roughly one in five cases being HER2 positive.1,2 The impact of the disease is significant, with breast cancer responsible for more than 137,000 deaths per year.1

Following review of the application under its accelerated assessment procedure, the Committee for Medicinal Products for Human Use (CHMP) based its positive opinion on results from the pivotal phase 2 DESTINY-Breast01 trial, which were published in The New England Journal of Medicine, and the results from the phase 1 trial published in The Lancet Oncology. In the DESTINY-Breast01 trial, trastuzumab deruxtecan demonstrated clinically meaningful and durable activity in patients who had received two or more prior anti-HER2 therapies. The safety and tolerability profile of trastuzumab deruxtecan seen in DESTINY-Breast01 was consistent with that observed in the phase 1 trial.

An updated analysis from DESTINY-Breast01, reinforcing the durable efficacy and long-term safety and tolerability profile of trastuzumab deruxtecan, was presented earlier this week at the 2020 San Antonio Breast Cancer Symposium (SABCS).

"We are encouraged by the CHMP positive opinion given the significant unmet need for patients with HER2 positive metastatic breast cancer," said Gilles Gallant, BPharm, PhD, FOPQ, Senior Vice President, Global Head, Oncology Development, Oncology R&D, Daiichi Sankyo. "Trastuzumab deruxtecan is already available for patients with HER2 positive metastatic breast cancer in the U.S. and Japan, and we are now one step closer to bringing this important new medicine to patients in Europe."

"The durable responses demonstrated in the DESTINY-Breast01 trial have never been seen before in this patient setting," said José Baselga, MD, PhD, Executive Vice President, Oncology R&D, AstraZeneca. "If approved by the European Commission, physicians in Europe will have an important new treatment option for patients with previously treated HER2 positive metastatic breast cancer."

The CHMP positive opinion will now be reviewed by the European Commission, which has the authority to grant marketing authorizations for medicines in the EU.

About HER2 Positive Breast Cancer

Approximately 520,000 cases of breast cancer are diagnosed in Europe annually, with an estimated one in five cases being HER2 positive.1,2

HER2 is a tyrosine kinase receptor growth-promoting protein expressed on the surface of many types of tumors, including breast, gastric and lung cancers. HER2 overexpression may be associated with a specific HER2 gene alteration known as HER2 amplification and is often associated with aggressive disease and poor prognosis in breast cancer.3

There remain significant unmet clinical needs for patients with HER2 positive metastatic breast cancer. The disease remains incurable with patients eventually progressing after currently available treatment options.4,5

About DESTINY-Breast01

DESTINY-Breast01 is a pivotal phase 2, single-arm, open-label, global, multicenter, two-part trial evaluating the safety and efficacy of trastuzumab deruxtecan in patients with HER2 positive unresectable and/or metastatic breast cancer previously treated with trastuzumab emtansine. The primary endpoint of the trial is objective response rate, as determined by independent central review. Secondary objectives include duration of response, disease control rate, clinical benefit rate, progression-free survival and overall survival.

About Trastuzumab Deruxtecan

Trastuzumab deruxtecan is a HER2 directed antibody drug conjugate (ADC). Designed using Daiichi Sankyo’s proprietary DXd ADC technology, trastuzumab deruxtecan is the lead ADC in the oncology portfolio of Daiichi Sankyo and the most advanced program in AstraZeneca’s ADC scientific platform.

ADCs are targeted cancer medicines that deliver cytotoxic chemotherapy ("payload") to cancer cells via a linker attached to a monoclonal antibody that binds to a specific target expressed on cancer cells. Trastuzumab deruxtecan is comprised of a HER2 monoclonal antibody attached to a novel topoisomerase I inhibitor payload by a tetrapeptide-based linker.

Trastuzumab deruxtecan (5.4 mg/kg) is approved in the U.S. and Japan for the treatment of adult patients with unresectable or metastatic HER2 positive breast cancer who received two or more prior anti-HER2 based regimens based on the DESTINY-Breast01 trial.

Trastuzumab deruxtecan (6.4 mg/kg) is also approved in Japan for the treatment of patients with HER2 positive unresectable advanced or recurrent gastric cancer that has progressed after chemotherapy, based on the DESTINY-Gastric01 trial.

About the Trastuzumab Deruxtecan Clinical Development Program

A comprehensive development program is underway globally, with nine pivotal trials evaluating the efficacy and safety of trastuzumab deruxtecan monotherapy across multiple HER2 targetable cancers, including breast, gastric, colorectal and lung cancers. Trials in combination with other anticancer treatments, such as immunotherapy, are also underway.

In October 2020, trastuzumab deruxtecan was granted Priority Review from the U.S. Food and Drug Administration (FDA) for the treatment of patients with HER2 positive unresectable or metastatic gastric or gastroesophageal junction (GEJ) adenocarcinoma. In May 2020, trastuzumab deruxtecan received a Breakthrough Therapy Designation (BTD) and Orphan Drug Designation for gastric cancer, including GEJ adenocarcinoma.

In July 2020, the EMA’s CHMP granted trastuzumab deruxtecan accelerated assessment for the treatment of adults with unresectable or metastatic HER2 positive breast cancer who have received two or more prior anti-HER2 based regimens.

In May 2020, trastuzumab deruxtecan had also received a Breakthrough Therapy Designation (BTD) for the treatment of patients with metastatic non-small cell lung cancer whose tumors have a HER2 mutation and with disease progression on or after platinum-based therapy.

About the Collaboration Between Daiichi Sankyo and AstraZeneca

Daiichi Sankyo and AstraZeneca entered into a global collaboration to jointly develop and commercialize trastuzumab deruxtecan (a HER2 directed ADC) in March 2019, and datopotamab deruxtecan (DS-1062; a TROP2 directed ADC) in July 2020, except in Japan where Daiichi Sankyo maintains exclusive rights. Daiichi Sankyo is responsible for manufacturing and supply of trastuzumab deruxtecan and datopotamab deruxtecan.

About Daiichi Sankyo Cancer Enterprise

The mission of Daiichi Sankyo Cancer Enterprise is to leverage our world-class, innovative science and push beyond traditional thinking to create meaningful treatments for patients with cancer. We are dedicated to transforming science into value for patients, and this sense of obligation informs everything we do. Anchored by our DXd antibody drug conjugate (ADC) technology, our powerful research engines include biologics, medicinal chemistry, modality and other research laboratories in Japan, and Plexxikon Inc., our small molecule structure-guided R&D center in Berkeley, CA. For more information, please visit: www.DSCancerEnterprise.com.

Kura Oncology Announces Closing of Public Offering and Full Exercise of Option to Purchase Additional Shares

On December 11, 2020 Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, reported the closing of its previously announced underwritten public offering of 9,326,500 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 1,216,500 shares, at a public offering price of $37.00 per share (Press release, Kura Oncology, DEC 11, 2020, View Source [SID1234572665]). The gross proceeds to Kura from the offering, before underwriting discounts and commissions and other offering expenses payable by Kura, were approximately $345.1 million.

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SVB Leerink, Credit Suisse, Barclays and Stifel acted as joint bookrunning managers in the offering. Wedbush PacGrow, JMP Securities and H.C. Wainwright & Co. acted as co-managers in the offering.

The securities described above were offered by Kura pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Kura and became effective by rule of the Securities and Exchange Commission (the "SEC") on December 7, 2020. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available for free on the SEC’s website located at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by email at [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at [email protected]; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] or by telephone at (888) 603-5847; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by email at [email protected] or by telephone at (415) 364-2720.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Updated Outcome and Treatment Benefit Data from MINDACT Study Reinforce Real-World Value of MammaPrint® for Clinical Low Risk Breast Cancer Patients at SABCS 2020

On December 11, 2020 Agendia, Inc., a world leader in precision oncology for breast cancer, reported that additional data from its groundbreaking MINDACT study will be highlighted in an oral presentation by Laura van ’t Veer, Ph.D., Co-founder and Chief Research Officer, at the 2020 San Antonio Breast Cancer Symposium (SABCS 2020) (Press release, Agendia, DEC 11, 2020, View Source [SID1234572696]). These data highlight the ability of MammaPrint, Agendia’s 70-gene breast cancer recurrence assay, to further stratify patients with clinically low risk breast cancer which could impact physician-patient discussions and treatment planning.

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MINDACT (​M​icroarray ​I​n ​N​ode-Negative and 1-3 node-positive ​D​isease may ​A​void Chemo​T​herapy), the Phase 3, prospective, randomized clinical trial supported by the European Organization for Research and Treatment of Cancer (EORTC), was designed to determine whether MammaPrint could be used to safely de-escalate patients with early stage breast cancer from chemotherapy without compromising their outcomes. Updated outcome and treatment data from the trial shared at SABCS 2020 build upon nearly 9-year follow-up results debuted at ASCO (Free ASCO Whitepaper) 2020 and confirm MINDACT as a positive de-escalation study.

Dr. van ’t Veer’s presentation showed that the combination of clinical low risk and MammaPrint Low Risk results indicate excellent 8-year prognosis – these patients showed a distant metastasis-free survival rate of 94.7% with no chemotherapy. Of note, amongst the clinically low risk study population, distant metastasis free survival at 8 years was 3.6% better in MammaPrint Low Risk patients as compared to those with a High Risk result.

"Collectively, these data produce a significant library of evidence that will allow for the precise treatment of breast cancer, including insights into a patient population considered low risk," said Dr. van ’t Veer. "Within this population, further stratification by genomic signature into MammaPrint Low or High Risk should be weighed for further treatment planning."

These data are part of a large suite of 13 posters, spotlight sessions and an oral presentation on MammaPrint and BluePrint that were accepted to SABCS 2020, and underscore Agendia’s mission to help guide the diagnosis and personalized treatment of breast cancer for all patients throughout their treatment journey.

XNK Therapeutics partners with Cellect for next generation platform development

On December 11, 2020 XNK Therapeutics AB ("XNK") reported its collaboration agreement with Israel-based Cellect Biotechnology ("Cellect") to develop the next generation version of XNK’s innovative technology platform (Press release, CellProtect Nordic Pharmaceuticals, DEC 11, 2020, View Source [SID1234574490]).

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Under the terms of the agreement, Cellect will work to further improve XNK Therapeutics’ technology platform for targeting cancer across a wide range of indications. Cellect’s functional cell selection technology has the potential to significantly improve the consistency and manufacturing efficiency in autologous cell therapies.

"I am excited that we will be able to continue developing the next generation of XNK Therapeutics’ technology platform in collaboration with Cellect," said Johan Liwing, CEO of XNK Therapeutics.

"We recognize the growing interest in NK cells and decided to work with XNK Therapeutics for further dissemination of our Apograft technology," said Dr. Shai Yarkoni, CEO of Cellect Biotechnology.