On December 10, 2020 XOMA Corporation (Nasdaq: XOMA) ("XOMA" or the "Company") reported it has commenced an underwritten registered public offering of shares of its Series A Cumulative Perpetual Preferred Stock, with liquidation preference of $25.00 per share (the "Preferred Stock") (Press release, Xoma, DEC 10, 2020, View Source [SID1234572615]). The Company expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering.

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The Company expects to use the net proceeds of this offering to fund the segregated dividend account and the remaining net proceeds for general corporate purposes, including funding future acquisitions of milestone and royalty rights associated with drug development programs with third-party funding.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., National Securities Corporation, and William Blair & Company are acting as joint book-runners for this offering. Aegis Capital Corp., Boenning & Scattergood, Inc., and Northland Capital Markets are acting as co-managers.

The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission (the "SEC") on March 7, 2018, and declared effective by the SEC on April 5, 2018. The offering will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, from the website of the SEC at View Source or by contacting: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus Department, Email: [email protected], Telephone: (703) 312-9580.

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

On December 10, 2020 LIPAC Oncology LLC and Huons Co., Ltd. reported the achievement of a major development milestone in their partnering agreement by finalizing its Clinical Study Report for a Phase 2A marker lesion clinical trial in patients with low-grade highly recurrent Non-Muscle Invasive Bladder Cancer (NMIBC) treated with LiPax (paclitaxel) (Press release, Lipac Oncology, DEC 10, 2020, View Source [SID1234572632]). LiPax, a proliposomal paclitaxel formulation in development for intravesical instillation in the treatment of NMIBC, demonstrated a 63 percent responder rate in highly recurrent and heavily pre-treated patients.

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"This is an important milestone for LIPAC as we prepare for our Type B meeting with the U.S. Food and Drug Administration in early January to validate our Phase 2B/3 clinical study approach," said TR Thirucote, Ph.D., Chairman and CEO of LIPAC.

In September 2019, LIPAC and Huons announced that they entered into an exclusive licensing agreement to develop, manufacture, and commercialize LiPax for all indications in South Korea. This is the first milestone payment to LIPAC based on specific development, regulatory and commercial milestones and royalty payments based on sales.

"We are delighted to have reached this milestone in our agreement with LIPAC that brings us a step closer to making this essential therapy available to thousands of patients in Korea," said Mr. Key An UM, CEO of Huons. "Our interest in LiPax extends well beyond NMIBC as we continue our collaboration with LIPAC in additional orphan-designated programs for Upper Tract Urothelial Carcinoma, Ovarian Cancer, Mesothelioma, and Malignant Plural Effusion for Breast Cancer."

"Non-Muscle Invasive Bladder Cancer is difficult to treat and highly recurrent. By pairing a simple outpatient procedure (Transurethral Resection of Bladder Tumor or TURBT) with LiPax, we have an opportunity to substantially improve both clinical outcomes and quality of life for patients globally," said Michael Oefelein, M.D., Chief Medical Officer of LIPAC Oncology. "We were also pleased to present our Phase 2A data at the Society of Urological Oncology meeting earlier this month."

Based on a patient’s biopsy results obtained from TURBT, NMIBC is stratified into three risk categories: low, intermediate, and high risk. To reduce recurrence and prevent progression, the American Urological Association NMIBC guidelines recommend intravesical therapy after TURBT. The low to intermediate risk category targeted by LiPax is estimated to comprise 90,000 Americans, yet no intravesical agent is approved by the U.S. Food and Drug Administration for this disease.

About LiPax
LiPax is a novel, investigational formulation of paclitaxel in Phase 2 development for the treatment of NMIBC. LIPAC Oncology’s proprietary formulation utilizes their proliposomal technology platform to enhance the persistence and penetration of bladder tissue by paclitaxel. LiPax is designed to enhance the standard of care of outpatient endoscopic tumor removal through a histological risk assessment followed by intravesical instillation using a standard urinary catheter. LIPAC Oncology completed a Phase 2A clinical trial in August 2020 and intends to advance the program to a pivotal study to further investigate LiPax in the treatment of this condition.

On December 10, 2020 Targovax ASA, reported that Øystein Soug, CEO of Targovax, will present the company at DNB’s 11th Annual Nordic Healthcare Conference, Tuesday 15 December (Press release, Targovax, DEC 10, 2020, View Source [SID1234572583]).

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DNB’s 11th Annual Nordic Healthcare Conference
Date: 15 December 2020
Presenter: Øystein Soug, CEO
Presentation time: 12:30 CET
The presentation will be available to download at www.targovax.com after the event.

On December 10, 2020 OncoSec Medical Incorporated (NASDAQ:ONCS) (the "Company" or "OncoSec") reported that the European Patent Office has issued notices of intention to grant for two patent applications (Press release, OncoSec Medical, DEC 10, 2020, View Source [SID1234572616]). The applications are directed to the use of OncoSec’s interleukin-12 (IL-12)-based immunotherapy platform, including its lead product candidate TAVO (tavokinogene telseplasmid) delivered with the Company’s proprietary intratumoral gene electrotransfer system for the treatment of cancer.

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The allowed patent claims cover methods of using TAVO delivered by intratumoral electroporation given in combination with a PD-1/PD-L1 inhibitor, which OncoSec has shown stimulates the tumor microenvironment and enables the immune system to target and attack tumors throughout the body. The allowed claims are also directed to the delivery of a gene encoding a therapeutic protein, such as a cytokine, using electroporation, to treat microscopic residual tumors following tumor resection, an important treatment step that if implemented clinically, has the potential to improve outcomes of cancer patients. Once granted, these two patents extend key patent coverage until March 24, 2036 and March 2, 2027 respectively.

"Pursuing these patents is important to strengthen the intellectual property protections around TAVO and our electroporation gene delivery system," said Daniel O’Connor, Chief Executive Officer of OncoSec. "The cancer therapy methods covered under these patents have potential to be applied to the treatment of a variety of cancer types and will provide additional proprietary protection as we seek to expand our global footprint."

As a next-generation intratumoral therapy, TAVO has already demonstrated the ability to induce regression of both treated lesions and untreated distant and visceral lesions, when used in combination with KEYTRUDA (pembrolizumab), a PD-1 inhibitor, in patients with recurrent metastatic melanoma who are in need of a more effective treatment option.

About TAVO

OncoSec’s gene therapy technology combines TAVOTM (tavokinogene telseplasmid), a DNA plasmid-based interleukin-12 (IL-12), with an intra-tumoral electroporation gene delivery platform to achieve endogenous IL-12 production in the tumor microenvironment that enables the immune system to target and attack tumors throughout the body. TAVO has demonstrated a local and systemic anti-tumor response in several clinical trials, including the pivotal Phase 2b trial KEYNOTE-695 for metastatic melanoma and the KEYNOTE-890 Phase 2 trial in triple negative breast cancer (TNBC). TAVO has received both Orphan Drug and Fast-Track Designation by the U.S. Food & Drug Administration for the treatment of metastatic melanoma.

On December 10, 2020 AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) (AcelRx), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for use in healthcare institutions, reported it has entered into an agreement with three life sciences-focused investment funds that are existing investors and new investors in AcelRx, for the sale of 8,333,333 shares of common stock at $1.20 per share (Press release, AcelRx Pharmaceuticals, DEC 10, 2020, https://www.prnewswire.com/news-releases/acelrx-announces-10-million-registered-direct-common-stock-offering-301190326.html [SID1234572633]). AcelRx estimates gross proceeds from the offering of approximately $10.0 million. The closing of the transaction is expected to occur by December 11, 2020, subject to satisfaction of customary closing conditions.

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The securities described above are being offered by AcelRx pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on July 8, 2020. A final prospectus supplement related to the offering will be filed with the SEC, and will be available on the SEC’s website located at View Source

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