MacroGenics Announces Publication in Science Translational Medicine Supporting Flotetuzumab Pivotal Study in Patients with Refractory Acute Myeloid Leukemia

On June 3, 2020 MacroGenics, Inc. (NASDAQ: MGNX), a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, reported research published in the journal Science Translational Medicine that describes a gene expression signature of the tumor microenvironment in patients with acute myeloid leukemia (AML) that is associated with resistance to chemotherapy and response to flotetuzumab, an investigational, bispecific CD123 x CD3 DART molecule currently in clinical development for the treatment of primary induction failure and early relapsed AML (Press release, MacroGenics, JUN 3, 2020, View Source [SID1234560791]). The research was led by Sergio Rutella, M.D., Ph.D., FRCPath, Professor of Cancer Immunotherapy, John van Geest Cancer Research Centre at Nottingham Trent University in the UK.

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The study analyzed several hundred primary bone marrow samples from independent cohorts of pediatric and adult AML patients to identify differences in immune gene expression in the bone marrow tumor microenvironment across age groups and molecular subtypes. The data indicated that an inflammatory signature related to INF-γ gene expression was predictive of resistance to chemotherapy and potential response to flotetuzumab immunotherapy in patients with primary refractory or early relapsed AML.

"Patients with AML who have failed primary induction therapy or relapsed early after an initial response represent a challenging patient population to treat," said Ezio Bonvini, M.D., Senior Vice President and Chief Scientific Officer of MacroGenics. "These data provide a molecular basis to understand why AML patients who are refractory to chemotherapy may be responsive to immunotherapy with flotetuzumab and offer a rationale for further development of the molecule in a planned pivotal study in this patient population with unmet medical needs."

About Acute Myeloid Leukemia

AML is a hematological malignancy characterized by differentiation arrest and uncontrolled clonal proliferation of neoplastic precursors that prevent normal bone marrow hematopoiesis. Nearly 20,000 new cases of AML are diagnosed in the U.S. each year, with a median age of 69 years at diagnosis. Approximately 40-50% of newly diagnosed patients fail to achieve a complete remission with intensive induction therapy (primary induction failure; PIF) or experience disease recurrence after a short remission duration (<6 months; early relapsed; ER). A very small number of these patients are expected to respond to salvage therapy. Although new targeted agents have been approved for the treatment of frontline or relapsed/refractory AML in recent years, approximately 50% of patients have no known targetable mutations. The discovery by the Rutella lab of an immunological gene signature in the AML tumor microenvironment forms the basis for a potential predictive biomarker for further clinical validation.

About Flotetuzumab

Flotetuzumab (also known as MGD006) is a clinical-stage bispecific DART molecule that recognizes both CD123 and CD3. CD123, the interleukin-3 receptor alpha chain, has been reported to be over-expressed on malignant cells in AML and other hematologic malignancies. The primary mechanism of action of flotetuzumab is believed to be its ability to redirect T lymphocytes to kill CD123-expressing cells. To achieve this, the DART molecule combines a portion of an antibody recognizing CD3, an activating molecule expressed by T cells, with an arm that recognizes CD123 on the target cells. Data from the Phase 1/2 clinical study of flotetuzumab in patients with PIF/ER AML were presented in December 2019 at the American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting. MacroGenics plans a single-arm, registration-enabling clinical study to evaluate flotetuzumab in up to 200 patients with PIF/ER AML, with complete remission (CR) and CR with partial hematological recovery (CRh) as the primary endpoint. The study will be conducted as a continuation of the ongoing Phase 1/2 study (NCT02152956; to be updated). The FDA has granted orphan drug designation to flotetuzumab for the treatment of AML.

Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock

On June 3, 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 its Board of Directors has declared a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock") (Press release, Avid Bioservices, JUN 3, 2020, View Source [SID1234560790]).

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The quarterly dividend on the Series E Preferred Stock is payable on July 1, 2020 to holders of record at the close of business on June 15, 2020.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from April 1, 2020 through June 30, 2020. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "CDMOP".

Alector to Present at the Goldman Sachs 41st Annual Global Healthcare Conference

On June 3, 2020 Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, reported that members of management will participate in a virtual fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference on Wednesday, June 10, 2020, at 3:50 p.m. ET (Press release, Alector, JUN 3, 2020, View Source [SID1234560789]).

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A live webcast of the fireside chat will be available on the "Events & Presentations" page within the Investors section of the Alector website at View Source A replay will be available on the Alector website for 30 days following the event.

Grant of Restricted Stock Units and Warrants to Employees in Genmab

On June 3, 2020 Genmab A/S (Nasdaq: GMAB) reported that at a board meeting the board decided to grant 4,982 restricted stock units and 15,645 warrants to employees of the company and three of the company’s subsidiaries (Press release, Genmab, JUN 3, 2020, View Source [SID1234560788]).

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Each restricted stock unit is awarded cost-free and provides the owner with a right and obligation to receive one share in Genmab A/S of nominally DKK 1. The fair value of each restricted stock unit is equal to the closing market price on the date of grant of one Genmab A/S share, DKK 1,948.

The restricted stock units will vest on the first banking day of the month following a period of three years from the date of grant. Furthermore, the restricted stock units are subject to vesting conditions set out in the restricted stock unit program adopted by the board of directors in accordance with the Remuneration Policy adopted by the shareholders at the annual general meeting. Information concerning Genmab’s restricted stock unit program can be found on www.genmab.com under Investors > Stock information > Restricted stock units.

The exercise price for each warrant is DKK 1,948. Each warrant is awarded cost-free and entitles the owner to subscribe one share of nominally DKK 1 subject to payment of the exercise price. By application of the Black-Scholes formula, the fair value of each warrant can be calculated as DKK 620.64.

The warrants vest three years after the grant date, and all warrants expire at the seventh anniversary of the grant date. The new warrants have been granted on the terms and conditions set out in the warrant program adopted by the board of directors on March 28, 2017. Information concerning Genmab’s warrant schemes can be found on www.genmab.com under Investors > Stock information > Warrants.

Sanofi to present oncology strategy, provide update on portfolio and emerging pipeline

On June 2, 2020 Sanofi Chief Executive Officer Paul Hudson along with R&D and commercial leaders reported that it will provide an overview of Sanofi’s oncology strategy and progress update of its related key products and pipeline programs. Sanofi’s oncology strategy is focused on four core therapeutic areas with four anchor treatments the company believes have the potential to transform patient care (Press release, Sanofi, JUN 2, 2020, View Source [SID1234560787]).

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The four areas of strategic focus within oncology, including multiple myeloma, skin, lung, and breast cancers. Sanofi’s four anchor oncology treatments include Sarclisa (isatuximab-irfc), an anti-CD38 monoclonal antibody and Libtayo (cemiplimab-nwlc), a PD-1 checkpoint inhibitor1 and the pipeline programs – an investigational anti-CEACAM 5 antibody drug conjugate and SERD (‘859), an investigational oral selective estrogen receptor degrader.

"We are rapidly building momentum with the execution of our oncology strategy, with several developments on both our pipeline and marketed treatments. Additionally, we are assembling a world-class development and marketing team to support our growth in this core area," said Hudson. "We believe our efforts and treatments have the potential to make a significant difference in the lives of people living with cancer."

"We’ve developed a focused oncology strategy, and are making significant clinical progress to support our ambitions," said John Reed, M.D., Ph.D., Global Head of Research and Development at Sanofi. "With a deep toolbox of therapeutic platforms enabling us to discover highly differentiated molecules, Sanofi has a tremendous opportunity to continue our momentum and build a sustainable presence in oncology."

The virtual investor event will be held today from 4:00-5:30 pm CET/10:00-11:30 am EST. Sanofi speakers include:

Paul Hudson, Chief Executive Officer

John Reed, Global Head of Research and Development

Partnered with Regeneron

Dietmar Berger, Chief Medical Officer and Global Head of Development

Peter Adamson, Global Head of Development, Oncology

Alex Zehnder, Global Franchise Head, Oncology

Additional information about today’s oncology presentation can be found at:

View Source