Eiger BioPharmaceuticals Reports Third Quarter 2019 Financial Results and Provides Business Update

On November 8, 2019 Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR), focused on the development and commercialization of targeted therapies for serious rare and ultra-rare diseases, reported financial results for the three and nine months ended September 30, 2019 and provided a business update (Press release, Eiger Biopharmaceuticals, NOV 8, 2019, View Source [SID1234550784]).

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"We are advancing four Breakthrough Therapy Designation programs into late stages, all with first-in-class therapies targeting rare diseases with no approved treatments," said David Cory, Eiger President and CEO. "We recently completed successful pre-NDA and pre-MAA meetings with both FDA and EMA for Progeria and Progeroid Laminopathies and plan to submit an NDA by year-end. We recently announced positive results from the HDV Lambda and Lonafarnib combination LIFT study, which will be presented as an oral late-breaker at AASLD. Our Phase 3 HDV global D-LIVR study continues to activate sites, enroll and dose patients. We look forward to updating on continued progress in the future."

Recent Highlights

Lonafarnib in Progeria and Progeroid Laminopathies

Positive pre-NDA meeting with FDA
Positive pre-MAA meeting with EMA
Peginterferon Lambda (Lambda) in Hepatitis Delta Virus (HDV)

Late-breaking oral presentation of positive Phase 2 LIFT (lambda + lonafarnib boosted with ritonavir) interim end-of-treatment results accepted for AASLD
95% of patients achieved primary endpoint of >2 log reduction in HDV RNA
>50% of patients were HDV RNA undetectable or BLOQ
Adverse events were mostly mild to moderate
Breakthrough Therapy Designation granted by FDA
Avexitide in Post-Bariatric Hypoglycemia (PBH)

Positive End of Phase 2 meeting with FDA for avexitide in PBH
Upcoming Milestones

Oral presentation of Phase 2 LIFT interim end-of-treatment results in HDV at AASLD
NDA submission for Progeria and Progeroid Laminopathies by year-end, followed by MAA submission in the first quarter of 2020
Phase 3 D-LIVR study in HDV (N=400) enrollment update after year-end
End of Phase 2 meeting for Lambda monotherapy in HDV in the first quarter of 2020
Third Quarter 2019 Financial Results

Cash, cash equivalents, and short-term investments as of September 30, 2019 totaled $109.9 million compared to $125.3 million at June 30, 2019, a decrease of $15.4 million.

The Company reported a net loss of $18.6 million, or $0.76 per share for third quarter 2019, as compared to $17.1 million, or $1.20 per share, for the same period in 2018.

Research and Development expenses were $14.1 million for third quarter 2019, as compared to $13.2 million for the same period in 2018, an increase of $0.9 million. The increase was primarily due to employee-related costs, including stock-based compensation, and expenditures related to our clinical programs.

General and Administrative expenses were $4.2 million for third quarter 2019, as compared to $3.6 million for the same period in 2018, an increase of $0.6 million. The increase was primarily due to additional employee-related costs, including stock-based compensation.

Third quarter 2019 operating expenses include total non-cash expenses of $1.8 million, as compared to $1.5 million for the same period in 2018.

As of September 30, 2019, Eiger had 24.5 million of common shares outstanding.

Mallinckrodt to Present at Jefferies London Healthcare Conference

On November 8, 2019 Mallinckrodt plc (NYSE: MNK), a global biopharmaceutical company, reported that it will present at the Jefferies London Healthcare Conference in London on Wednesday, Nov. 20, 2019 (Press release, Mallinckrodt, NOV 8, 2019, View Source [SID1234550780]).

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Bryan Reasons, Executive Vice President and Chief Financial Officer, will represent the company in a fireside chat at 8:40 a.m. GMT.

Individuals who cannot attend the meeting in person can find webcast information at: http://www.mallinckrodt.com/investors. A replay will also be available following the meeting.

Alkermes Announces New Data From ALKS 4230 Clinical Development Program at Society for Immunotherapy of Cancer’s (SITC) 34th Annual Meeting

On November 8, 2019 Alkermes plc (Nasdaq: ALKS) reported new data from the company’s ARTISTRY clinical development program related to ALKS 4230 at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper)’s (SITC) (Free SITC Whitepaper) 34th Annual Meeting in National Harbor, MD (Press release, Alkermes, NOV 8, 2019, View Source [SID1234550779]). ALKS 4230 is an investigational, engineered fusion protein designed to selectively expand tumor-killing immune cells while avoiding the IL-2-induced activation of immunosuppressive cells by preferentially binding to the intermediate-affinity interleukin-2 (IL-2) receptor complex. The company presented preliminary clinical data from ARTISTRY-1, the ongoing phase 1/2 study investigating ALKS 4230 administered intravenously, as well as study design details and preliminary safety data from ARTISTRY-2, the ongoing phase 1/2 study investigating ALKS 4230 administered subcutaneously. Both studies are evaluating ALKS 4230 as a monotherapy and in combination with pembrolizumab (KEYTRUDA). The posters presented by the company at SITC (Free SITC Whitepaper) and a corporate presentation related to the ALKS 4230 program are available on the Investors section of www.alkermes.com.

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"The early signs of clinical efficacy and safety that we have seen so far with ALKS 4230 as both monotherapy and in combination with pembrolizumab are encouraging, and have been observed in multiple solid tumor types, including in PD-(L)1 inhibitor unapproved indications," said Craig Hopkinson, M.D., Chief Medical Officer and Senior Vice President of Medicines Development and Medical Affairs at Alkermes. "In addition to the preliminary data from ARTISTRY-1, we are making progress in ARTISTRY-2 and are now enrolling the next set of cohorts that will evaluate once-weekly and once-every-three-week dosing regimens. We look forward to presenting data from ARTISTRY-2 at a future medical meeting."

"Despite the introduction of immunotherapies and other innovations in the field of oncology, there remains a high unmet need for new treatments, as many patients are not eligible to receive certain medications such as checkpoint inhibitors, or don’t respond well to such medications," said Ulka N. Vaishampayan, M.D., Professor of Oncology at Wayne State University and Director of the Phase I Program at the Karmanos Cancer Institute. "The emerging data from the ARTISTRY clinical program are encouraging, with ALKS 4230 demonstrating initial signs of clinical benefit and a safety profile that is generally consistent with what is expected with cytokine therapy. Importantly, no evidence of vascular leak syndrome, which is the most significant limitation to currently available IL-2 therapy, has been observed as of October 31st."

The following preliminary safety and efficacy findings from the ARTISTRY-1 monotherapy and combination therapy cohorts are as of Aug. 2, 2019, unless otherwise noted:

Data presented from the ongoing monotherapy dose-escalation stage of ARTISTRY-1 included five completed cohorts, spanning a dose range of 0.1 µg/kg/day to 6 µg/kg/day:

A total of 36 patients with refractory advanced solid tumors were treated.
Consistent with earlier non-clinical findings, treatment with ALKS 4230 selectively expanded natural killer (NK) and CD8+ T cells and had negligible, non-dose-dependent effects on regulatory T cells (Tregs).
ALKS 4230 3 µg/kg/day dose was selected for initial evaluation in combination with pembrolizumab, based on the cell expansion and tolerability profile seen at this dose.
ALKS 4230 6 µg/kg/day dose was identified as the monotherapy recommended phase 2 dose (RP2D) for intravenous administration. Data from this dose demonstrated our targeted tolerability profile, along with the targeted lymphocyte cell expansion without corresponding IL-2-induced Treg activation.
At doses of 3 µg/kg/day and 6 µg/kg/day of ALKS 4230, 8 of 14 patients with evaluable initial scans had stable disease.
This includes one patient in the 6 µg/kg/day group with heavily pretreated pancreatic adenocarcinoma who received monotherapy ALKS 4230 for 10 months, with stable disease maintained for approximately 6 months. Following progressive disease, this patient rolled over to combination therapy with pembrolizumab for 4.5 months.
The most frequently reported adverse events (AEs), regardless of relationship to ALKS 4230, were fever and chills, which are anticipated effects of cytokine administration. No Grade 4 or 5 treatment-related AEs were reported, and no signs of vascular leak syndrome were observed at any dose.
The maximum tolerated dose of monotherapy intravenous ALKS 4230 has not been determined and dose escalation is ongoing.
Data presented from the combination stage of ARTISTRY-1 focused on the cohort of PD-(L)1 inhibitor unapproved tumor types and one monotherapy rollover patient. These patients received the ALKS 4230 3 µg/kg/day dose in combination with pembrolizumab:

26 patients (n=1 monotherapy rollover, n=25 PD-(L)1 inhibitor unapproved tumor types) were treated in the cohort.
12 of the 18 patients with evaluable scans achieved stable disease or better, including:
One patient with ovarian cancer had a confirmed partial response at Cycle 6 and demonstrated complete normalization of her CA-125 (tumor marker) levels at Cycle 4, which continued in the normal range: 282 U/mL (screening) to 12.6 U/mL (Cycle 10). As of Oct. 31, 2019, this patient remains on therapy.
One patient with triple negative breast cancer showed a >50% reduction in target lesion size at Cycle 8. As is common with checkpoint inhibitor treatment, small new lesions developed for this patient at Cycle 2. The decrease in her target lesions and in these small new lesions qualified her for an immune-partial response (iPR) based on iRECIST (Response Evaluation Criteria in Solid Tumors) criteria. As of Oct. 31, 2019, this patient remains on therapy.
The most frequently reported adverse events (AEs), regardless of relationship to ALKS 4230 were fever and chills. No Grade 4 or 5 treatment-related AEs were reported, and no signs of vascular leak syndrome were observed.
In addition to data from ARTISTRY-1, the company also presented a trials-in-progress poster on ARTISTRY-2. The study’s initial dose escalation cohort (n=7) has been completed at the once-weekly 0.3 mg subcutaneous dose of ALKS 4230. Initial signals of tolerability were observed, and no patient discontinued treatment due to AEs.

As of Oct. 31, 2019, 6 of 7 patients from the first cohort remained on therapy. Enrollment in the next two dose escalation cohorts, to evaluate ALKS 4230 0.6 mg once-weekly and ALKS 4230 1.0 mg once-every-three-weeks, is ongoing. The company plans to present data from ARTISTRY-2 at a future medical meeting.

About ALKS 4230
ALKS 4230 is a novel, engineered fusion protein comprised of modified interleukin-2 (IL-2) and the high affinity IL-2 alpha receptor chain, designed to selectively expand tumor-killing immune cells while avoiding the IL-2-induced activation of immunosuppressive cells by preferentially binding to the intermediate-affinity IL-2 receptor complex. The selectivity of ALKS 4230 is designed to leverage the proven anti-tumor effects of existing IL-2 therapy while mitigating certain limitations.

About the ARTISTRY Clinical Development Program
ARTISTRY is an Alkermes-sponsored clinical development program evaluating ALKS 4230 in patients with advanced solid tumors. ARTISTRY-1 is an ongoing phase 1/2 study in which ALKS 4230 is administered as an intravenous infusion daily for five consecutive days. ARTISTRY-1 has three distinct stages: an ongoing monotherapy dose-escalation stage, a recently initiated monotherapy expansion stage, and an ongoing combination therapy stage with the PD-1 inhibitor KEYTRUDA (pembrolizumab) in patients with select advanced solid tumors.

ARTISTRY-2 is an ongoing phase 1/2 study of ALKS 4230 administered subcutaneously as monotherapy and in combination with pembrolizumab in patients with advanced solid tumors. ARTISTRY-2 is designed to explore the safety, tolerability and efficacy of ALKS 4230 administered subcutaneously and assess once-weekly and once-every-three-week dosing schedules.

Actym Therapeutics Will Present Data at the 2019 Society for the Immunotherapy of Cancer (SITC) Annual Meeting

On November 8, 2019 Actym Therapeutics, a privately held biotechnology company focused on therapeutic targeting of intractable immune pathways in the tumor microenvironment, reported that it will be presenting data at the SITC (Free SITC Whitepaper) Annual Meeting in National Harbor, Maryland on November 9, 2019 (Press release, Actym Therapeutics, NOV 8, 2019, View Source [SID1234550778]). The presentation is entitled "STACT: A Novel Therapeutic Platform that Delivers Immunomodulatory Payloads to Tumor-Resident Myeloid Cells After IV Dosing and Demonstrates Potent Anti-Tumor Efficacy in Preclinical Studies".

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"Therapeutic targeting of many immune pathways is currently limited to a suboptimal, intratumoral (IT) route of administration. This is due to toxicities or lack of efficacy when systemically dosed, and will not be tractable in a metastatic disease setting. Using our tumor-specific therapeutic platform, our data will show strong anti-tumor effects, including single agent cures, after IV dosing with genetic payloads encoding highly immunomodulatory proteins. Furthermore, we will show that STACT permits the combinatorial administration of payloads that would otherwise be too toxic if systemically administered. When IV dosed, our therapies are able to infiltrate and enrich in solid tumors and be consumed by tumor resident cells, delivering genetic payload-encoding plasmids. This allows for ectopic expression of a wide range of multiplexed immunomodulatory proteins in a tumor-specific manner. We are encouraged by the preclinical data demonstrating single-agent cures against checkpoint-refractory, orthotopic, highly metastatic breast cancer tumors," said Dr. Christopher Thanos, President and CEO of Actym Therapeutics.

Details of the presentations are as follows:

Abstract #

Title

P482

STACT: A Novel Therapeutic Platform that Delivers Immunomodulatory Payloads to Tumor-Resident Myeloid Cells After IV Dosing and Demonstrates Potent Anti-Tumor Efficacy in Preclinical Studies

Location: Gaylord Conference Center, National Harbor, MD

For those unable to attend the conference who would like a copy of the presentation, please send an email request to [email protected]. Please include your name, company, title and phone number. The presentation will be emailed to those making proper requests after November 9, 2019.

Zimmer Biomet Holdings to Present at the 2nd Annual Evercore ISI HealthCONx Conference

On November 8, 2019 Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, reported that it will participate in the Evercore ISI HealthCONx Conference at the Four Seasons Hotel in Boston (Press release, Zimmer Holdings, NOV 8, 2019, https://www.prnewswire.com/news-releases/zimmer-biomet-holdings-to-present-at-the-2nd-annual-evercore-isi-healthconx-conference-300954357.html [SID1234550777]). Suky Upadhyay, Executive Vice President and Chief Financial Officer and Cole Lannum, CFA, Senior Vice President Investor Relations, will present for the Company on Tuesday, December 3, 2019, at 1:15 p.m. Eastern Time.

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A live webcast of the presentation can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. The webcast will be archived for replay following the conference.