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eFFECTOR to Present During BIO CEO & Investor Conference

On February 6, 2020 eFFECTOR Therapeutics, Inc., a leader in the development of selective translation regulators (STRs) for the treatment of cancer, reported that Steve Worland, Ph.D., president and chief executive officer of eFFECTOR, will present a company overview during the BIO CEO & Investor Conference on Tuesday, February 11 at 2:00 p.m. ET (Press release, eFFECTOR Therapeutics, FEB 6, 2020, View Source [SID1234553938]). The conference will take place February 10-11, in New York, N.Y.

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Curis and Aurigene Announce Amendment of Collaboration for the Development and Commercialization of CA-170

On February 6, 2020 Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, reported that it has entered into an amendment of its collaboration, license and option agreement with Aurigene Discovery Technologies, Ltd. (Aurigene) (Press release, Curis, FEB 6, 2020, View Source [SID1234553937]). Under the terms of the amended agreement, Aurigene will fund and conduct a Phase 2b/3 randomized study evaluating CA-170, an orally available, dual inhibitor of VISTA and PDL1, in combination with chemoradiation, in approximately 240 patients with non-squamous non-small cell lung cancer (nsNSCLC). In turn, Aurigene receives rights to develop and commercialize CA-170 in Asia, in addition to its existing rights in India and Russia, based on the terms of the original agreement. Curis retains U.S., E.U., and rest of world rights to CA-170, and is entitled to receive royalty payments on potential future sales of CA-170 in Asia.

In 2019, Aurigene presented clinical data from a Phase 2a basket study of CA-170 in patients with multiple tumor types, including those with nsNSCLC. In the study, CA-170 demonstrated promising signs of safety and efficacy in nsNSCLC patients compared to various anti-PD-1/PD-L1 antibodies.

"We are pleased to announce this amendment which leverages our partner Aurigene’s expertise and resources to support the clinical advancement of CA-170, as well as maintain our rights to CA-170 outside of Asia," said James Dentzer, President and Chief Executive Officer of Curis. "Phase 2a data presented at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) conference last fall supported the potential for CA-170 to serve as a therapeutic option for patients with nsNSCLC. We look forward to working with our partner Aurigene to further explore this opportunity."

"Despite recent advancements, patients with localized unresectable NSCLC struggle with high rates of recurrence and need for expensive intravenous biologics. The CA-170 data presented at ESMO (Free ESMO Whitepaper) 2019 from Aurigene’s Phase 2 ASIAD trial showed encouraging results in Clinical Benefit Rate and Prolonged PFS and support its potential to provide clinically meaningful benefit to Stage III and IVa nsNSCLC patients, in combination with chemoradiation and as oral maintenance" said Kumar Prabhash, MD, Professor of Medical Oncology at Tata Memorial Hospital, Mumbai, India.

Murali Ramachandra, PhD, Chief Executive Officer of Aurigene, commented, "Development of CA-170, with its unique dual inhibition of PD-L1 and VISTA, is the result of years of hard-work and commitment by many people, including the patients who participated in the trials, caregivers and physicians, along with the talented teams at Aurigene and Curis. We look forward to further developing CA-170 in nsNSCLC."

Coherus BioSciences to Report Fourth Quarter and Full Year Financial Results on February 27th

On February 6, 2020 Coherus BioSciences, Inc. ("Coherus" or "the Company", Nasdaq: CHRS), reported that its fourth quarter and full year 2019 financial results will be released after market close on Thursday, February 27, 2020 (Press release, Coherus Biosciences, FEB 6, 2020, View Source/news-releases/news-release-details/coherus-biosciences-report-fourth-quarter-and-full-year" target="_blank" title="View Source/news-releases/news-release-details/coherus-biosciences-report-fourth-quarter-and-full-year" rel="nofollow">View Source [SID1234553936]). Starting at 4:30 p.m. ET, Coherus’ management team will host a conference call to discuss financial results and provide a general business update.

After releasing fourth quarter and full year 2019 financial results, the Company will post them on the Coherus website at View Source." target="_blank" title="View Source." rel="nofollow">View Source

Conference Call Information

When: Thursday, February 27, 2020 starting at 4:30 p.m. ET
Dial-in: (844) 452-6826 (toll free) or (765) 507-2587 (International)
Conference ID: 9658203
Webcast: View Source
Please join the conference call at least 10 minutes early to register. The webcast will be archived on the Coherus website.

Cardinal Health Reports Second Quarter Results for Fiscal Year 2020

On February 6, 2020 Cardinal Health (NYSE: CAH) reported financial results for the second quarter of fiscal 2020 ended December 31, 2019 (Press release, Cardinal Health, FEB 6, 2020, View Source [SID1234553935]). Second quarter revenue was $39.7 billion, an increase of 5% from the second quarter of last year.

Second quarter GAAP operating earnings decreased 34% to $334 million, which included a $96 million charge in connection to the recently announced voluntary surgical gown-related recalls. Non-GAAP operating earnings increased 1% to $646 million. GAAP diluted earnings per share (EPS) decreased 19% to $0.75, while non-GAAP diluted EPS increased 18% to $1.52. Non-GAAP diluted EPS benefited from a lower effective tax rate and a lower share count.

"With the first half of the year behind us, we are raising our fiscal year 2020 guidance," said Mike Kaufmann, CEO of Cardinal Health. "This increase was driven by improved performance across our Pharmaceutical segment, particularly within our generics program. As we look forward, we remain focused on executing our strategic growth initiatives."

Second quarter revenue for the Pharmaceutical segment increased 6% to $35.7 billion, due to sales growth from Pharmaceutical Distribution and Specialty Solutions customers.

Pharmaceutical segment profit increased 4% to $462 million in the second quarter, reflecting positive performance in the company’s generics program and Specialty Solutions business. This was partially offset by the adverse impact of Pharmaceutical Distribution customer contract renewals.

Medical segment

1 Medical segment profit does not include the $96 million charge incurred for inventory write-offs and certain remediation and supply disruption costs associated with the recently announced voluntary surgical gown-related recalls.
Second quarter revenue for the Medical segment was flat at $4.0 billion. Growth in Cardinal Health at Home was offset by a decline in products and distribution.

Medical segment profit increased 4% to $195 million in the second quarter. This increase reflects benefits from cost savings initiatives, partially offset by a decline in products and distribution.

Tax rate
During the second quarters of fiscal 2020 and 2019, GAAP effective tax rates were 21.0% and 31.0%, respectively. Non-GAAP effective tax rates were 24.8% and 28.5%, respectively. The GAAP effective tax rate benefitted from jurisdictional mix and discrete items recognized in the second quarter of 2020, largely driven by changes as a result of tax reform. The Non-GAAP effective tax rate benefitted from jurisdictional mix.

Fiscal year 2020 Outlook
The company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. See "Use of Non-GAAP Measures" following the attached schedules for additional explanation.

The company raises its fiscal year 2020 guidance range for non-GAAP diluted earnings per share attributable to Cardinal Health, Inc. to the range of $5.20 to $5.40 from the range of $4.85 to $5.10.

Recent highlights

For the 12th consecutive year in a row, Cardinal Health was honored as one of the "Best Places to Work for LGBTQ Equality" by the Human Rights Campaign (HRC) Foundation, achieving 100% on the HRC’s 2020 Corporate Equality Index (CEI).

Cardinal Health was recognized by the Women’s Forum of New York for having at least 40% of board seats held by women.

Webcast
Cardinal Health will host a webcast today at 8:30 a.m. Eastern to discuss second quarter results. To access the webcast and corresponding slide presentation, go to the Investor Relations page at ir.cardinalhealth.com. No access code is required.

Presentation slides and a webcast replay will be available until February 5, 2021.

Upcoming webcasted investor events

Barclays Global Healthcare Conference on March 10 at 8:30 a.m. Eastern in Miami Beach, Fla.

$500,000 Research Grant to Combat Cancer Treatment Resistance Awarded by ALK Positive and GO2 Foundation

On February 6, 2020 ALK Positive (a patient-led group of 1,900+ lung cancer patients and caregivers in 50+ countries) and GO2 Foundation for Lung Cancer (a global lung cancer advocacy and education organization) are reported awarding a two-year, $500,000 Research Collaboration Grant to two renowned lung cancer researchers dedicated to overcoming treatment resistance (Press release, Bonnie J Addario Lung Cancer Foundation, FEB 6, 2020, View Source [SID1234553934]).

This grant funds research to help break down barriers to successful lung cancer treatment and to identify new treatments. A 2019 partnership between ALK Positive and the GO2 Foundation raised the funds for this grant.

Patients with ALK+ lung cancer benefit from targeted therapy medications but drug resistance ultimately limits this benefit: most patients develop progressive disease within one to three years of treatment.

Dr. Trever Bivona, associate professor of medicine at the University of California – San Francisco, and Dr. Christine Lovly, associate professor of medicine, Vanderbilt University Medical Center, are receiving the grant for their project, "Transforming ALK+ lung cancer into a chronic or curable condition by combating drug resistance." Drs. Bivona and Lovly are recognized lung cancer experts. The study will explore if new combinations of targeted therapies can delay or prevent treatment resistance.

"ALK Positive is grateful to GO2 Foundation for their efforts in coordinating this partnership. The fundraising efforts of the ALK Positive members and their supporters have been extraordinary, and we are hopeful this project will make significant strides in accomplishing our mission to ‘improve the life expectancy and quality of life for all ALK-positive patients worldwide’," said Gina Hollenbeck, the group’s president.

"One of the greatest barriers to surviving lung cancer is treatment resistance. This grant will help overcome this significant obstacle, give patients hope, and help to achieve the goal of making lung cancer a chronically-managed disease," said Bonnie J. Addario, co-founder and board chair of the GO2 Foundation. "Lung cancer is truly leading the way to make research personal. This is an example of how patients, advocates and researchers are putting their heads together to create new, game-changing research."

"I am honored to work alongside the ALK Positive community on this effort to accelerate our understanding of resistance and to find new ways to fight it," said Bivona. "At a time when we are making great strides in the treatment of lung cancer, yet research funding is lacking, we are deeply appreciative of this funding from members of ALK Positive," said Lovly.