Trio Pharmaceuticals, Inc. and Ajinomoto Bio-Pharma Services Enter into a Development Collaboration for a Novel Antibody Therapeutic

On April 30, 2020 Trio Pharmaceuticals, Inc. ("TRIO"), a cancer therapeutics company developing novel dual action antibody drugs, TRIObody, and novel dual action antibody drug conjugates, TRIObody Drug Conjugate (TDC) and Ajinomoto Bio-Pharma Services ("Aji Bio-Pharma"), a leading provider of biopharmaceutical contract development and manufacturing services, reported a development collaboration agreement to evaluate AJICAP, a proprietary site-specific conjugation technology offered by Aji Bio-Pharma for the development of TDCs (Press release, Trio Pharmaceuticals, APR 30, 2020, https://www.prnewswire.com/news-releases/trio-pharmaceuticals-inc-and-ajinomoto-bio-pharma-services-enter-into-a-development-collaboration-for-a-novel-antibody-therapeutic-301049693.html [SID1234556880]). The AJICAP technology will be used to conjugate a cytotoxic payload to TRIO’s lead oncology candidate with TRIO evaluating functionality of the TDC.

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TDCs are a first-in-class ADC with dual functionality. TRIO’s dual action TDC utilizes targeted payload delivery to stop both tumor growth and immunosuppression. By generating a less immunosuppressive tumor microenvironment, TDC enhances activation of tumor-specific immune effector cells further facilitating cancer cell destruction.

AJICAP is a robust site-specific conjugation technology compatible with varied antibody modalities. AJICAP’s advantage is its "off-the-shelf" feature, allowing any antibody drug at any stage of development to be conjugated to drug-payloads of choice without the need to modify the sequence. In contrast to traditional Cys-maleimide and Lys-succinimide conjugation technologies, AJICAP conjugation is robust and generates ADCs with high yields.

"We are very excited to collaborate with Aji Bio-Pharma for evaluating AJICAP to develop our proprietary dual action TDC. The AJICAP conjugation technology marks a new beginning in the ADC field, allowing generation of ADCs with site-specific conjugation without change in antibody sequence, a rate-limiting step in the development of site-specific ADCs. Setting an early collaboration with Aji Bio-Pharma will ease our cGMP plans for clinical development," noted Dr. Shiva Bhowmik, Founder + CEO of Trio Pharmaceuticals, Inc.

Dr. Brian Mendelsohn, Director, Process Development and Technology Transfer at Aji Bio-Pharma stated, "AJICAP was developed to create novel ADCs with therapeutic window enhancements, while shortening the development timeline. We are excited to collaborate with TRIO as they advance TDC technology, developing a new class of ADCs. This collaboration marks a new avenue of development in the ADC field."

Dr. Tatsuya Okuzumi, Associate General Manager, Business Development, Ajinomoto Co, Inc., added, "We are very excited to collaborate with TRIO in the development of dual action ADCs. As a member of the Ajinomoto Group, Aji Bio-Pharma houses a talented and dedicated team of ADC scientists and strong CMC capabilities, which will benefit TRIO’s development of this novel ADC."

PDL BioPharma to Announce First Quarter 2020 Financial Results on May 7, 2020

On April 30, 2020 PDL BioPharma, Inc. ("PDL" or "the Company") (Nasdaq: PDLI) reported that it will release its first quarter 2020 financial results for the period ended March 31, 2020, on Thursday, May 7, 2020, after market close (Press release, PDL BioPharma, APR 30, 2020, View Source [SID1234556879]). PDL’s management will host a conference call and webcast that day at 4:30 p.m. Eastern time to discuss the operating and financial results and recent developments. A slide presentation relating to the call will be available via the webcast link on the PDL website at View Source

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Conference Call Details
To access the live conference call via phone, please dial (844) 535-4071 from the United States and Canada or (706) 679-2458 internationally. The conference ID is 7238226. Please dial in approximately 10 minutes prior to the start of the call. A telephone replay will be available for one week following the call and may be accessed by dialing (855) 859-2056 from the United States and Canada or (404) 537-3406 internationally. The replay passcode is 7238226.

To access the live and subsequently archived webcast of the conference call, go to "Events & Presentations" on the Company’s website. Please connect to the website at least 15 minutes prior to the call to allow for any software download that may be necessary.

Cryoport to Report First Quarter 2020 Financial Results on May 7, 2020

On April 30, 2020 Cryoport, Inc. (NASDAQ: CYRX) (NASDAQ: CYRXW) ("Cryoport" or the "Company"), a global leader in life sciences solutions, reported that the Company will report financial results for the first quarter ended March 31, 2020 on Thursday, May 7, 2020 after U.S. markets close (Press release, Cryoport, APR 30, 2020, View Source [SID1234556878]).

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In addition to the earnings release, a document titled "Cryoport First Quarter 2020 in Review", providing a review of Cryoport’s recent financial and operational performance and a general business update, will be issued at 4:05 pm ET on Thursday, May 7, 2020. The document is designed to be read by investors before the questions and answers conference call and can be accessed at http://ir.cryoport.com/events-and-presentations.

Cryoport management will host a conference call at 5:00 pm ET on May 7, 2020. The conference call will be in the format of a questions and answers session and will address any queries investors have regarding the Company’s reported results.

Conference Call Information

Date:

May 7, 2020

Time:

5:00 p.m. ET

Dial-in numbers:

+1 (855) 327-6837 (U.S.), +1 (631) 891-4304 (International)

Confirmation code:

Request the "Cryoport Call"

Live webcast:

‘Investor Relations’ section at www.cryoport.com or at this link. Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software.

Questions and answers will be recorded and available approximately three hours after completion of the live event on the Investor Relations section of the Company’s website at www.cryoport.com for a limited time. To access the replay of the questions and answers, please follow this link. A dial-in replay of the call will also be available, to those interested, until May 14, 2020. To access the replay, dial +1 (844) 512-2921 (United States) or +1 (412) 317-6671 (International) and enter replay pin number: 10009027.

ANI Pharmaceuticals Schedules Conference Call to Discuss First Quarter 2020 Financial Results

On April 30, 2020 ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) reported that the Company plans to release its first quarter 2020 financial results on Thursday, May 7, 2020, before the opening of the U.S. financial markets (Press release, ANI Pharmaceuticals, APR 30, 2020, View Source [SID1234556877]). The earnings press release will be accessible through the Investor Relations section of the Company’s website, www.anipharmaceuticals.com.

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Arthur S. Przybyl, President and Chief Executive Officer, and Stephen P. Carey, Vice President, Finance, and Chief Financial Officer, also plan to host a conference call to review those results starting at 10:30am Eastern Time on Thursday, May 7, 2020. The call will be open to the public and can be accessed through a conference line by dialing (866) 776-8875. The conference ID is 5243607.

A recording of the conference call will be available within two hours of the completion of the call and will remain accessible for a period of seven days following the call. To access the replay, dial (800) 585-8367. The access code for the replay is 5243607.

ViewRay Reports First Quarter 2020 Results

On April 30, 2020 ViewRay, Inc. (Nasdaq: VRAY) reported financial results for the first quarter ended March 31, 2020 (Press release, ViewRay, APR 30, 2020, View Source [SID1234556876]).

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First Quarter 2020 Highlights:

Total revenue of $14.3 million, primarily from three revenue units including one system upgrade, compared to $20.3 million, primarily from four revenue units including one system upgrade, in the first quarter of 2019.
Received four new orders for MRIdian systems totaling $22.6 million, compared to seven new orders totaling $42.8 million in the first quarter of 2019.
Total backlog was $230.8 million as of March 31, 2020, compared to $237.5 million as of March 31, 2019.
Cash and cash equivalents were $190.2 million as of March 31, 2020.
The Company is withdrawing its 2020 guidance, provided on March 12, 2020, as the full impact of COVID-19 remains unknown.
The Company announced Zach Stassen as Chief Financial Officer.
"As we manage in this challenging environment, we are focused on what we can control. Value creation lies in driving our clinical, innovation and commercial pipeline while enhancing efforts to conserve capital," said Scott Drake, President and CEO. "On another important note, we are excited to welcome Zach Stassen as our Chief Financial Officer. Zach has an excellent track record as an operator and CFO in the medical technology space. I’d like to thank our Interim-CFO, Brian Knaley, for his work to drive the business forward over the last several quarters."

First Quarter 2020 Financial Results:

Total revenue for the three months ended March 31, 2020 was $14.3 million compared to $20.3 million for the same period last year.

Total cost of revenue for the three months ended March 31, 2020 was $16.4 million compared to $25.6 million for the same period last year. Total cost of revenue in the first quarter of 2019 was impacted by approximately $7.0 million of charges, primarily driven by higher than anticipated installation costs related to historical upgrade commitments.

Total gross profit (loss) for the three months ended March 31, 2020 was $(2.1) million, compared to $(5.4) million for the same period last year.

Total operating expenses for the three months ended March 31, 2020 were $27.9 million, compared to $25.0 million for the same period last year.

Net loss for the three months ended March 31, 2020 was $27.5 million, or $0.19 per share, compared to $33.4 million, or $0.34 per share, for the same period last year.

ViewRay had total cash and cash equivalents of $190.2 million at March 31, 2020.

Financial Guidance

Given the existing uncertainty related to COVID-19 globally, the Company is withdrawing 2020 guidance, issued on March 12, 2020, as the full impact of coronavirus remains unknown.

Conference Call and Webcast

ViewRay will hold a conference call to discuss results on Thursday, April 30, 2020 at 4:30 p.m. ET / 1:30 p.m. PT. The dial-in numbers are (844) 277-1426 for domestic callers and (336) 525-7129 for international callers. The conference ID number is 8982097. A live webcast of the conference call will be available on the investor relations page of ViewRay’s corporate website at www.viewray.com.

After the live webcast, a replay of the webcast will remain available online on the investor relations page of ViewRay’s corporate website, www.viewray.com, for 14 days following the call. In addition, a telephonic replay of the call will be available until May 7, 2020. The replay dial-in numbers are (855) 859-2056 for domestic callers and (404) 537-3406 for international callers. Please use the conference ID number 8982097.