First Patient Enrolled in Novocure’s Global Phase 3 TRIDENT Trial of Optune® Concurrent with Radiation Therapy in Newly Diagnosed Glioblastoma

On December 10, 2020 Novocure (NASDAQ: NVCR) reported the first patient has been enrolled in its global phase 3 TRIDENT trial, a randomized study in newly diagnosed glioblastoma (GBM) testing the potential survival benefit of initiating Optune concurrent with radiation therapy (Press release, NovoCure, DEC 10, 2020, View Source [SID1234572620]).

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Currently, Optune with maintenance temozolomide is used to treat adults with glioblastoma, following maximal debulking surgery and completion of radiation therapy. However, preclinical studies demonstrate Tumor Treating Fields can be used synergistically with radiation therapy, due to increased tumor sensitivity to radiation therapy, further inhibiting DNA damage repair.

Trident will enroll 950 newly diagnosed GBM patients who, after surgery or biopsy, are candidates for radiation therapy and temozolomide. The experimental group will receive Optune concurrent with radiation therapy and temozolomide for six weeks, followed by Optune and temozolomide. The control group will receive radiation therapy and temozolomide for six weeks, followed by Optune and temozolomide. Patients will continue on Optune for 24 months or until second tumor progression, whichever occurs first.

"We are excited to have begun our TRIDENT trial in newly diagnosed GBM," said Dr. Ely Benaim, Novocure’s Chief Medical Officer. "The TRIDENT trial represents our commitment to extending survival for GBM patients. We look forward to our partnership with the hundreds of patients who will participate in this study, their families and caregivers, and the nearly 100 leading institutions who have committed to this important research in GBM."

About Optune

Optune is a noninvasive, antimitotic cancer treatment for GBM. Optune delivers Tumor Treating Fields to the region of the tumor.

Tumor Treating Fields is a cancer therapy that uses electric fields tuned to specific frequencies to disrupt cell division. Tumor Treating Fields does not stimulate or heat tissue and targets dividing cancer cells with specific membrane properties. Tumor Treating Fields causes minimal damage to healthy cells. Mild to moderate skin irritation is the most common side effect reported. Tumor Treating Fields is approved in certain countries for the treatment of adults with GBM and in the U.S. for MPM, two of the most difficult cancer types to treat. The therapy shows promise in multiple solid tumor types – including some of the most aggressive forms of cancer.

Approved Indications

Optune is intended as a treatment for adult patients (22 years of age or older) with histologically-confirmed glioblastoma multiforme (GBM).

Optune with temozolomide is indicated for the treatment of adult patients with newly diagnosed, supratentorial glioblastoma following maximal debulking surgery, and completion of radiation therapy together with concomitant standard of care chemotherapy.

For the treatment of recurrent GBM, Optune is indicated following histologically- or radiologically-confirmed recurrence in the supratentorial region of the brain after receiving chemotherapy. The device is intended to be used as a monotherapy, and is intended as an alternative to standard medical therapy for GBM after surgical and radiation options have been exhausted.

Important Safety Information

Contraindications

Do not use Optune in patients with GBM with an implanted medical device, a skull defect (such as, missing bone with no replacement), or bullet fragments. Use of Optune together with skull defects or bullet fragments has not been tested and may possibly lead to tissue damage or render Optune ineffective.

Use of Optune for GBM together with implanted electronic devices has not been tested and may lead to malfunctioning of the implanted device.

Do not use Optune for GBM in patients known to be sensitive to conductive hydrogels. Skin contact with the gel used with Optune may commonly cause increased redness and itching, and may rarely lead to severe allergic reactions such as shock and respiratory failure.

Warnings and Precautions

Optune can only be prescribed by a healthcare provider that has completed the required certification training provided by Novocure.

The most common (≥10%) adverse events involving Optune in combination with chemotherapy in patients with GBM were thrombocytopenia, nausea, constipation, vomiting, fatigue, convulsions, and depression.

The most common (≥10%) adverse events related to Optune treatment alone in patients with GBM were medical device site reaction and headache. Other less common adverse reactions were malaise, muscle twitching, and falls related to carrying the device.

If the patient has an underlying serious skin condition on the treated area, evaluate whether this may prevent or temporarily interfere with Optune treatment.

Do not prescribe Optune for patients that are pregnant, you think might be pregnant or are trying to get pregnant, as the safety and effectiveness of Optune in these populations have not been established.

Kura Oncology to Participate in the JMP Securities Hematology Summit

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Heat Biologics Provides Business Update

On December 10, 2020 Heat Biologics, Inc. ("Heat") (NASDAQ:HTBX), a clinical-stage biopharmaceutical company focused on developing first-in-class therapies to modulate the immune system, including multiple oncology product candidates and a novel COVID-19 vaccine, reported a planned reverse stock split of its shares of common stock at a ratio of 1-for-7 (Press release, Heat Biologics, DEC 10, 2020, View Source [SID1234572605]). The reverse stock split will take effect as of 12:01 a.m. ET, December 11, 2020. Shares of Heat common stock will trade on a post-split basis on the Nasdaq Capital Market under the existing trading symbol, "HTBX," at the market open on December 11, 2020.

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Jeff Wolf, CEO of Heat, commented, "Our sole purpose in conducting this reverse-split was to address market concerns related to the Nasdaq minimum bid price requirement. Importantly, we remain in compliance with Nasdaq requirements and have important upcoming milestones related to our programs that we expect to announce soon, which we believe will further validate our strategy. It’s also important to note that we have a solid balance sheet with over $113 million of cash as of December 9, 2020."

During the Company’s special shareholder meeting held February 27, 2020, shareholders approved the Company’s reverse stock split, and granted the board of directors the authority to implement and determine the exact split ratio, which was set by the board at 1-for-7. Following the reverse stock split, the new CUSIP number will be 42237K 409, with the par value per share of common stock remaining at $0.0002. A proportionate adjustment will be made to the per-share exercise prices and number of shares issuable under all outstanding stock options and warrants.

The reverse stock split is intended to increase the market price per share of the Company’s common stock to help ensure a share price high enough to satisfy the $1.00 minimum bid price requirement by Nasdaq and to potentially increase the visibility of our company among a larger pool of institutional investors.

When the reverse stock split becomes effective, every seven shares of the Company’s issued and outstanding common stock will be combined into one share of common stock. Effecting the reverse stock split will reduce the number of issued and outstanding common stock from approximately 159.8 million shares to approximately 22.8 million. The reverse stock split will also subsequently adjust outstanding options issued under Heat’s equity incentive plan and outstanding warrants to purchase common stock.

No fractional shares will be issued in connection with the reverse stock split. Shareholders of record will receive a cash payment in lieu of fractional shares to which they would otherwise be entitled. Shareholders with shares held in certificate form will receive a Letter of Transmittal with instructions from Heat’s transfer and exchange agent, Continental Stock Transfer & Trust Company. Shareholders that hold shares in book-entry form or in brokerage accounts are not required to take any action, and will see the impact of the reverse stock split reflected in their accounts. Additionally, beneficial holders may contact their bank, broker, custodian or other nominee with questions regarding processing procedures for the reverse stock split. Additional information is available in the Form 8-K filed today with the U.S. Securities and Exchange Commission, and in the definitive proxy statement filed on January 24, 2020.

CG Oncology Closes $47 Million Series D Financing

On December 10, 2020 CG Oncology, Inc., a clinical-stage biopharmaceutical company focused on the development of novel oncolytic immunotherapies, reported the closing of a $47 million Series D preferred stock financing led by new investor Kissei Pharmaceutical Co., Ltd., with participation from existing investors ORI Healthcare Fund, Camford Capital and Perseverance Capital Management (Press release, CG Oncology, DEC 10, 2020, View Source [SID1234572621]).

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The financing will support the advancement of CG Oncology’s late-stage clinical programs for its lead oncolytic immunotherapy, CG0070, including an ongoing global Phase 3 trial (BOND3) with CG0070 as a monotherapy for the treatment of BCG-unresponsive, Non-Muscle Invasive Bladder Cancer (NMIBC), and a combination Phase 2 study (CORE1) of CG0070 with KEYTRUDA (pembrolizumab) in the same indication. In addition, a Phase 1b study (CORE2) is currently ongoing with CG0070 in combination with OPDIVO (nivolumab) as a neoadjuvant immunotherapy for Muscle-Invasive Bladder Cancer (MIBC) in cisplatin-ineligible patients.

"We are excited to close our Series D round of funding, which will allow us to advance our late-stage pipeline, as new treatment options are desperately needed for patients with bladder cancer," said Arthur Kuan, CEO of CG Oncology. "Our clinical progress in oncology is a testament to oncolytic immunotherapy as a novel approach, with our lead candidate CG0070 in both monotherapy and combination therapy studies. The support of leading global investors comes at a pivotal time for CG Oncology, with our lead monotherapy program advancing to BLA, and our combination programs of CG0070 with approved anti-PD-1 antibody therapies advancing in the clinic."

"CG Oncology has made significant progress in advancing its late-stage oncolytic immunotherapy programs, and we have strong expertise to successfully develop and commercialize CG0070 in Japan, and other countries," said Mutsuo Kanzawa, Chairman and CEO of Kissei. "We look forward to working closely with CG Oncology to address the significant unmet medical needs in oncology with this innovative therapy."

Biocept’s Target Selector™ Liquid Biopsy Demonstrated High Accuracy When Used for Monitoring the Progression of Metastatic Breast Cancer in Study Conducted at Johns Hopkins Sidney Kimmel Cancer Center

On December 10, 2020 Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular diagnostic assays, products and services designed to provide physicians with clinically actionable information to improve patient outcomes, reported results from a prospective study showing Target Selector was highly accurate in monitoring HER2 alterations in patients with metastatic breast cancer (Press release, Biocept, DEC 10, 2020, View Source [SID1234572637]). The results were featured yesterday in a poster presentation by Vered Stearns, M.D., professor of oncology, breast cancer research chair in oncology, and director of the Women’s Malignancies Disease Group at Johns Hopkins University School of Medicine/Johns Hopkins Sidney Kimmel Cancer Center, at the virtual 2020 San Antonio Breast Cancer Symposium (SABC). The poster can be found under the "breast cancer" tab here.

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"Approximately 20% of newly diagnosed breast cancer is HER2 positive, but during treatment and as the disease progresses, HER2 receptor conversion may occur," said Dr. Stearns. "Once breast cancer metastasizes, it may be difficult to access multiple sites or perform serial tissue biopsies to monitor for conversion. In this study, liquid biopsy testing proved to be a highly sensitive and specific mechanism for monitoring HER2 receptor changes over time."

"Target Selector has been shown to be a highly sensitive blood-based testing method for identifying changes in HER2 status, and is less invasive, more time efficient and more cost effective compared to tissue biopsy," said Michael Nall, President and CEO. "Target Selector provides critical information to identify patients who may benefit from the addition of anti-HER2 therapy and those on anti-HER2 therapy for whom additional therapeutic options may warrant consideration."

About SABCS
Since 1977 the San Antonio Breast Cancer Symposium (SABCS) has been the leading scientific conference for basic scientists, physician-scientists, clinical investigators and breast care providers, and advocates seeking an exchange of new information in experimental biology, etiology, prevention, diagnosis and therapy of premalignant breast disease and breast cancer. Founded, owned and operated by UT Health San Antonio, the symposium has grown to a five-day event attended by an international audience of academic investigators and private physicians from over 80 countries to attain information through abstract presentations, panel discussions, research findings and state-of-the-art educational sessions. UT Health San Antonio, the American Association for Cancer Research (AACR) (Free AACR Whitepaper) and Dan L Duncan Comprehensive Cancer Center at Baylor College of Medicine support SABCS, which provides education and accessibility to the latest information regarding the prevention, diagnosis and treatment of premalignant breast cancer and breast disease. For more information about the symposium, please visit www.sabcs.org.