Agenus Milestone Triggers $7.5M Payment

On August 8, 2019 Agenus Inc. (NASDAQ: AGEN), an immuno-oncology (I-O) company with a pipeline of immune checkpoint antibodies, adoptive cell therapies1 and cancer vaccines, reported that the FDA has accepted the company’s IND filing for AGEN2373, a milestone in its partnership with Gilead Sciences, Inc (Press release, Agenus, AUG 8, 2019, View Source [SID1234538381]). This milestone triggers a cash payment of $7.5M. Agenus is eligible to receive additional milestone payments this year and beyond.

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"This IND clearance underscores our continued commitment to delivering novel and best-in-class therapies to patients with cancer with the utmost urgency," said Garo H. Armen, Ph.D., Chairman and CEO of Agenus. "AGEN2373 has unique binding properties and is designed to mitigate the toxicity observed with competitor molecules; we believe that this molecule has great potential for patients with cancer."

The collaboration between the two companies was announced in December 2018. Under the terms of the agreement, Agenus received $150 million in upfront cash payment and equity investment and is eligible for approximately $1.7 billion in future fees and milestones.

AGEN2373 is an investigational agent that has not been approved for any uses. Efficacy and safety have not been established.

Agenus Reports Second Quarter 2019 Financial Results and Provides Corporate Update

On August 8, 2019 Agenus Inc. (NASDAQ: AGEN), an immuno-oncology (I-O) company with a pipeline of immune checkpoint antibodies, adoptive cell therapies1, and cancer vaccines provided corporate updates and reported financial results for the second quarter of 2019 (Press release, Agenus, AUG 8, 2019, View Source [SID1234538379]).

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"In the second quarter our progress continued at a rapid pace," said Garo H. Armen, Ph.D., Chairman and CEO of Agenus. "This year we delivered 2 INDs, initiated the interim analysis in our CTLA-4 & PD-1 trials, triggered cash milestones in our Gilead collaboration, advanced our next generation CTLA-4 in the clinic, and brought on board our head of commercial operations. We look forward to discussing all of these in more detail during our call and at our global R&D days in the next few months."

Achievements
Delivered on partnership programs; triggering additional cash milestones
Triggered $15 million from Gilead as milestone payment for IND acceptance of AGEN1423 (now GS-1423) & AGEN2373
CTLA-4 and PD-1 trials advancing – interim analysis underway
Trials in 2L cervical cancer designed to support BLA via accelerated pathway
Interim analysis underway; data readouts expected 2H2019
PD-1 market expansion planned through project-based financing
Enrollment proceeding in next-gen CTLA-4 trial
Clinical trial underway; combinations and early data expected this year
Advanced new discoveries towards the clinic
AGEN2373 IND accepted by FDA
Off-the shelf phosphorylated neoantigen vaccine advanced to IND
QS-21 Updates
Sales of Shingrix, containing our QS-21 Stimulon, continue to increase; GSK projects 2019 sales will exceed $1.3Bn
AgenTus Cell Therapy Business:
IND for allogeneic cell therapy on track for 2H2019
IND for autologous NYESO-1 planned for 2H2019; proprietary combinations with Agenus check point antibodies planned in 1H2020
Partnership and private financing discussions are underway
Second Quarter 2019 Financial Results

We ended the second quarter of 2019 with a cash balance of $122 million as compared to $53 million at December 31, 2018.

For the six months ended June 30, 2019, we reported a net loss of $34 million or $0.24 per share compared to a net loss for the same period in 2018 of $79 million or $0.76 per share. During the first half of the year we recognized revenue of $96 million which includes revenue from our transaction with Gilead and non-cash royalties earned and recorded $20 million of non-cash interest expense due to our liability related to the sale of future royalties. Our operating expenses for the first half of 2019 increased by $29 million as a result of the advancement of our programs.

For the second quarter ended June 30, 2019, we reported net loss of $52 million or $0.38 per share compared to a net loss for same period in 2018 of $25 million, or $0.24 per share.

Both periods results include one time and non-cash items.

Conference Call, Webcast and Prepared Statement Information

Date: Thursday, August 8, 2019
Time: 8:30 a.m. ET
Domestic Dial-in Number: (844) 492-3727
International Dial-in Number: (412) 317-5118
Conference ID: Agenus

Live Webcast: accessible from the Company’s website at View Source or with this link View Source

A replay will be available on the Company’s website approximately two hours after the call and will remain available for 90 days.

Evotec SE to report first-half year 2019 results on 14 August 2019

On August 7, 2019 Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) reported that it will report its financial results for the first half of 2019 on Wednesday, 14 August 2019 (Press release, Evotec, AUG 8, 2019, View Source;announcements/press-releases/p/evotec-se-to-report-first-half-year-2019-results-on-14-august-2019-5841 [SID1234538316]).

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The Company is going to hold a conference call to discuss the results as well as to provide an update on its performance. The conference call will be held in English.

Conference call details

Date: Wednesday, 14 August 2019

Time: 02.00 pm CEST (08.00 am EDT, 01.00 pm BST)

From Germany: +49 69 201 744 220

From France: +33 170 709 502

From Italy: +39 02 3600 6663

From the UK: +44 20 3009 2470

From the USA: +1 877 423 0830

Access Code: 37215683#

A simultaneous slide presentation for participants dialling in via phone is available at View Source

Webcast details

To join the audio webcast and to access the presentation slides you will find a link on our home page www.evotec.com shortly before the event.

A replay of the conference call will be available for 24 hours and can be accessed in Europe by dialling +49 69 20 17 44 222 (Germany) or +44 20 3364 5150 (UK) and in the USA by dialling +1 844 307 9362. The access code is 315534324#. The on-demand version of the webcast will be available on our website: View Source

Athenex Announces Oral Paclitaxel and Encequidar had a Significantly Higher Response Rate Over IV Paclitaxel in a Phase III Pivotal Study in Metastatic Breast Cancer

On August 7, 2019 Athenex, Inc. (Nasdaq: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer, reported topline data showing that oral paclitaxel and encequidar (Oral Paclitaxel) met the primary efficacy endpoint with statistically significant improvement over IV paclitaxel in a Phase III pivotal study in metastatic breast cancer (Press release, Athenex, AUG 7, 2019, View Source [SID1234573888]).

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A total of 402 typical metastatic breast cancer patients were enrolled in a 2 to 1 ratio of Oral Paclitaxel to IV paclitaxel in the ITT population (265 in the Oral Paclitaxel group versus 137 in the IV paclitaxel group). Patient demographics were balanced in the two treatment groups. The primary efficacy endpoint was overall tumor response rate (ORR) confirmed at two consecutive timepoints using RECIST v1.1 criteria. Blinded assessments of tumor response were made by two independent radiologists and an independent adjudicator, using a computer algorithm to assign responses.

Oral Paclitaxel showed a statistically significant improvement compared to IV paclitaxel on the primary efficacy endpoint, with an ORR of 36% for the Oral Paclitaxel group compared to 24% for IV paclitaxel patients based on ITT analysis (p = 0.01). Oral Paclitaxel also showed statistically significant improvement compared to IV paclitaxel based on other analyses on populations excluding non-evaluable patients (which would give higher response rates), with p-values ≤ 0.01 in all analyses. In addition, the results showed that the proportion of confirmed responders with a duration of response of more than 150 days was 2.5 times higher in the Oral Paclitaxel group than in the IV paclitaxel group.

Based on the data cut-off on July 25, 2019, there was a strong trend in progression-free survival (p = 0.077) favoring Oral Paclitaxel over IV paclitaxel, and a strong trend in overall survival (p = 0.11) favoring Oral Paclitaxel over IV paclitaxel. At the cut-off date, a higher proportion of patients on Oral Paclitaxel compared with IV paclitaxel remained progression-free and Athenex expects the PFS and OS trend will continue to improve upon follow-up.

In the study, the Oral Paclitaxel group had lower incidence and severity of neuropathy compared to IV paclitaxel: 57% of IV paclitaxel patients experienced neuropathy (all grades) versus 17% of Oral Paclitaxel patients, with grade 3 neuropathy observed in 8% of IV paclitaxel patients versus 1% of Oral Paclitaxel patients. The results also showed lower incidence of alopecia, arthralgia and myalgia in the Oral Paclitaxel group. The incidence of neutropenia was similar in both groups, but there were more incidents of grade 4 neutropenia and infection in the Oral Paclitaxel group. There were also more gastro-intestinal side effects in the Oral Paclitaxel group.

Dr. Rudolf Kwan, Chief Medical Officer of Athenex, stated, "This is the second successful Phase III clinical program accomplished by the clinical team this year. We are excited by the positive results in the Phase III pivotal study, demonstrating improved ORR for Oral Paclitaxel compared to IV paclitaxel across a full spectrum of analyses and lower incidence of neuropathy in the Oral Paclitaxel group. We will be preparing our NDA submission as soon as possible. We are also investigating additional indications for Oral Paclitaxel as well as combinations with other anti-cancer drugs, including biologics and immuno-oncology drugs. With a longer duration of response observed in this trial, we will look into the potential of this drug candidate in metronomic dosing and maintenance therapy. Based on these results, we will aggressively advance the other oral chemotherapy programs."

Dr. Johnson Lau, Chief Executive Officer and Chairman of Athenex, commented, "Based on the results of the Phase III study, together with the preliminary results generated in the angiosarcoma study, Athenex believes that Oral Paclitaxel has the potential to represent a new class of oral anti-cancer drugs, if approved, based on the findings from this Phase III study showing statistically significant improvement in ORR as monotherapy and longer duration of response over IV paclitaxel, as well as strong trends in improved PFS and OS in patients with metastatic breast cancer. There is also evidence of early onset of activity in angiosarcoma. Adding to this potential are the favorable safety data from this study showing lower incidence of neuropathy, which is currently a major reason for discontinuing IV paclitaxel treatment. There is a potential for Oral Paclitaxel, which is not designed to require steroid pre-medication for immunosuppression, to serve as a cornerstone in chemotherapy in combination with other small molecule anti-cancer drugs, biologics, and immuno-oncology treatment approaches, including other drug candidates in our oncology pipeline."

"We believe the success of the Oral Paclitaxel program serves as a validation for our Orascovery technology platform, which also includes the oral delivery of docetaxel, cabazitaxel, irinotecan, topotecan and eribulin," continued Dr. Lau. "Athenex is transforming from a clinical stage company into a fully integrated company with late-stage oncology product candidates and capabilities across the pharmaceutical value chain, including manufacturing and marketing."

Athenex is also evaluating Oral Paclitaxel in combination with ramucirumab in patients with gastric cancer in an expansion phase of a Phase 1b study, which has shown encouraging preliminary data. Oral Paclitaxel also showed encouraging clinical activity in a pilot study of patients with angiosarcoma. The company is also testing the combination of Oral Paclitaxel with an anti-PD1, pembrolizumab, in patients with advanced solid malignancies.

The Orascovery platform was initially developed by Hanmi Pharmaceuticals and licensed exclusively to Athenex for all major worldwide territories except Korea, which is retained by Hanmi. PharmaEssentia Corp. licensed the Taiwan, Singapore and Vietnam rights of Oral Paclitaxel and ZenRx licensed the Australia and New Zealand rights of Oral Paclitaxel from Athenex.

About the Phase III Study of Oral Paclitaxel and Encequidar
The Phase III pivotal study is a randomized, controlled clinical trial designed to compare the the safety and efficacy of Oral Paclitaxel monotherapy against intravenous paclitaxel monotherapy in patients with metastatic breast cancer. The primary endpoint was tumor response rate (confirmed by scans at two consecutive timepoints) as assessed by RECIST v1.1 criteria, a generally accepted method for assessing tumor response. Blinded assessments of tumor response are made by two independent radiologists and an independent adjudicator, using a computer algorithm to assign responses.

Conference Call and Webcast Information
Company management will discuss the Phase III results during its quarterly earnings conference call, today, Wednesday, August 7, 2019, at 8:00am Eastern Time. To participate in the call, dial 877-407-0784 (domestic) or 201-689-8560 (international) fifteen minutes before the conference call begins and reference the conference passcode 13691069. The live conference call and replay can be accessed via audio webcast at View Source and also on the Investor Relations section of the Company’s website, located at View Source

Inflection Biosciences Announces Publication of Positive Data for PIM/PI3K/mTOR Inhibitor In Neuroblastoma

On August 7th 2019 Inflection Biosciences Ltd, a company developing innovative therapeutics for the treatment of cancer, announced the publication of pre-clinical data showing the company’s PIM/PI3K/mTOR, AUM302 (formerly IBL-302), has promise as a treatment for neuroblastoma (Press release, Inflection Biosciences, AUG 7, 2019, View Source [SID1234538591]). This research has recently been published in the medical journal EMBO Molecular Medicine.

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This publication is the result of a collaboration between Inflection Biosciences and two research teams at the Lund University Cancer Centre, Sweden, led by Associate Professors Sofie Mohlin and Daniel Bexell. Inflection Biosciences recently announced that global development and commercialisation rights to AUM302 were granted to AUM Biosciences, Singapore.

Neuroblastoma is an extracranial childhood malignancy of the nervous system that accounts for 15% of all paediatric cancer fatalities. Despite advances in treatment, children with high‐risk disease have poor survival rates, with up to 40% 5‐year mortality. It has previously been shown that targeting the PI3K/mTOR pathway could be a viable treatment for aggressive neuroblastoma. Furthermore, in neuroblastoma cell lines and patient derived xenograft (PDX) derived cell cultures, high levels of PIM were also significantly associated with adverse neuroblastoma patient outcomes.

These published results show that from a panel of 707 cell lines across 47 tumour types, neuroblastoma was the most sensitive tumour type to AUM302 treatment, and out of 16 neuroblastoma cell lines, AUM302 was generally more effective than PI3K inhibitors alone. AUM302 improved the effect of three clinically used chemotherapeutic agents in vitro. AUM302 treatment alone reduced tumour growth in a neuroblastoma xenograft and inhibited neuroblastoma PDX growth in combination with low‐dose cisplatin.

Dr. Bexell, one of the lead authors on the publication, commented: "Adding AUM302 to current treatments to lower administered doses of highly toxic chemotherapy could decrease complications later in life and improve outcomes in these young neuroblastoma patients."

The publication titled ‘Anti‐tumor effects of PIM/PI3K/mTOR triple kinase inhibitor IBL‐302 in neuroblastoma’ can be accessed here.

The research was funded by the Swedish Cancer Society and the Swedish Childhood Cancer Foundation.