On November 24, 2020 Genmab A/S (Nasdaq: GMAB) reported that it will not advance the development of enapotamab vedotin. While enapotamab vedotin has shown some evidence of clinical activity, this was not optimized by different dose schedules and/or predictive biomarkers (Press release, Genmab, NOV 24, 2020, View Source [SID1234571661]). Accordingly, the data from the expansion cohorts did not meet Genmab’s stringent criteria for proof-of-concept.

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"We are committed to developing innovative antibody products for patients with cancer, however the data from the enapotamab vedotin expansion cohorts unfortunately does not support moving this product candidate forward. This decision will allow us to focus more of our resources and energy on other programs in our robust next-generation antibody therapeutics pipeline," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab.

About Enapotamab Vedotin
Enapotamab vedotin is an AXL targeted Antibody-Drug Conjugate (ADC) in which the monoclonal antibody is conjugated to the antimitotic drug monomethyl auristatin E. AXL is a signaling molecule overexpressed in several hematologic and solid malignancies. In the context of malignancy, evidence suggests that AXL overexpression drives wide-ranging processes, including epithelial to mesenchymal transition, tumor angiogenesis, resistance to chemotherapeutic and targeted agents, and decreased antitumor immune response. Enapotamab vedotin is fully owned by Genmab and the drug linker technology used for enapotamab vedotin was licensed from Seagen Inc.

On November 24, 2020 Eli Lilly and Company (NYSE: LLY) reported that it will participate in the Evercore ISI 3rd Annual HealthCONx Conference on Tuesday, December 1, 2020 (Press release, Eli Lilly, NOV 24, 2020, https://investor.lilly.com/news-releases/news-release-details/lilly-participate-evercore-isi-3rd-annual-healthconx-conference [SID1234571660]). Michael Mason, Lilly senior vice president and president of Lilly Diabetes and Connected Care, will participate in a virtual fireside chat at 2:40 p.m., Eastern Time.

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A live audio webcast will be available on the "Webcasts & Presentations" section of Lilly’s Investor website at View Source A replay of the presentation will be available on this same website for approximately 90 days.

On November 24, 2020 Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH), a commercial-stage biopharmaceutical company developing innovative medicines to improve the lives of people with cancer, reported that Steve Hoerter, President and Chief Executive Officer, has participated in a fireside chat in advance of the Piper Sandler 32nd Annual Virtual Healthcare Conference, being held December 1-3, 2020 (Press release, Deciphera Pharmaceuticals, NOV 24, 2020, View Source [SID1234571659]).

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A recording of the fireside chat is now available on the "Events and Presentations" page in the "Investors" section of the Company’s website at View Source and will be available for 90 days.

On November 24, 2020 Clovis Oncology, Inc. (NASDAQ: CLVS) reported that pursuant to the terms of that previously announced Exchange and Purchase Agreement, dated as of November 4, 2020, by and between Clovis Oncology and an existing holder of its securities named therein (the "Holder") relating to the offering of the Company’s new series of 4.50% Convertible Senior Notes due 2024 (the "New 2024 Notes"), such Holder has elected to exercise its option to purchase an additional $7.5 million aggregate principal amount of the New 2024 Notes on the same terms (Press release, Clovis Oncology, NOV 24, 2020, View Source [SID1234571658]). The settlement of the option is expected to occur on November 27, 2020, subject to customary closing conditions. Following the closing, there will be a total of $57.5 million aggregate principal amount of the New 2024 Notes outstanding.

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Clovis Oncology intends to use the net proceeds from the sale of the New 2024 Notes for general corporate purposes, including repayment, repurchase or refinance of its debt obligations, sales and marketing expenses associated with Rubraca (rucaparib), funding of its development programs, payment of milestones pursuant to its license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.

The offer and sale of the New 2024 Notes and the shares of common stock issuable upon conversion of such New 2024 Notes have not been registered under the Securities Act or any state securities laws and, unless so registered, the New 2024 Notes and any such shares may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the New 2024 Notes or any other securities, nor will there be any sale of New 2024 Notes or any other 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 November 24, 2020 Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, reported that it will report financial results for the second quarter of fiscal year 2021 on December 2, 2020 after market close and will host a conference call and webcast at 1:30 PM Pacific Time (4:30 PM Eastern Time) (Press release, Avid Bioservices, NOV 24, 2020, View Source [SID1234571657]). Members of Avid’s senior management will discuss financial results for the second quarter and review recent corporate developments.

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To listen to the live webcast, or access the archived webcast, please visit: View Source

To listen to the conference call, please dial (877) 312-5443 or (253) 237-1126 and request the Avid Bioservices call.