1stOncology™: Cancer Intelligence Service – Page 13243 – 1stOncology is recognized as a Top 10 Global Pharma Analytic Provider

Athenex Regains Rights to KX2-391 in China

On March 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 and related conditions, reported that upon Athenex’s request, Athenex and Chongqing Jingdong Junzhuo Pharmaceutical Co., Ltd. ("Chonqing Jingdong Pharmaceutical") have mutually agreed to terminate the licensing and partnership agreement entered into on December 30, 2018 (Press release, Athenex, MAR 7, 2019, View Source [SID1234534172]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

Schedule Your 30 min Free Demo!

Pursuant to the original agreement, Athenex, via Chongqing Taihao Pharmaceutical Co., Ltd. (an Athenex subsidiary in China), granted to Chongqing Jingdong Pharmaceutical the rights to exclusively commercialize KX2-391 for the treatment of actinic keratosis and oncology indications in humans in mainland China (excluding Hong Kong, Macau and Taiwan). Under the terms of the termination agreement, Athenex has regained the rights to commercialize KX2-391 in mainland China. The decision of both parties to terminate the licensing and partnership agreement has no connection with the progress or the results of any of the clinical studies of the KX2-391 program.

Johnson Lau, Chief Executive Officer of Athenex, commented, "We believe KX2-391 is an important drug candidate with the potential to drive significant economic value for Athenex. We remain committed to the global development and commercialization efforts. The compelling clinical profile of KX2-391 ointment was highlighted in the Late-Breaking Program at the recent 2019 American Academy of Dermatology Annual Meeting, where the topline results of our two pivotal Phase III studies were presented. We believe we are well positioned to align our development strategies in mainland China as we continue to evaluate options for KX2-391 globally."

For further information on the topline results from the two pivotal Phase III studies of KX2-391 ointment in the treatment of actinic keratosis released on March 4, 2019, please visit the Press Releases page of the Investor Relations section of Athenex’s website at www.athenex.com and review SEC filings on www.sec.gov.

KX2-391, also known as KX-01, is a first-in-class dual Src kinase and tubulin polymerization inhibitor. KX2-391 ointment is a topical medicinal product for the treatment of actinic keratosis that is in late stage Phase III development. Actinic keratosis is a common skin condition that is induced through ultra-violet light damage, resulting in patches of thick, scaly, or crusty skin. Other drug candidates with KX2-391 as the active ingredient are also being developed for oncology indications.

Alnylam to Webcast Presentation at Cowen & Company 39th Annual Health Care Conference

On March 7, 2019 Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, reported that management will present a company overview at the Cowen & Company 39th Annual Health Care Conference on Wednesday, March 13, 2019 at 11:20 am ET at the Marriott Copley Place in Boston (Press release, Alnylam, MAR 7, 2019, View Source [SID1234534171]).

A live audio webcast of the presentation will be available on the Investors section of the Company’s website, www.alnylam.com. A replay will be available on the Alnylam website within 48 hours after the event.

OncoMed Announces Fourth Quarter and Full Year 2018 Financial Results

On March 7, 2019 (GLOBE NEWSWIRE) — OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, reported fourth quarter and full year 2018 financial results (Press release, OncoMed, MAR 7, 2019, View Source [SID1234534170]).

Recent Corporate News
On December 5, 2018, OncoMed and Mereo BioPharma Group plc (Mereo), a clinical-stage UK-based biopharmaceutical company, agreed to enter into a proposed combination of the two companies, subject to approval by OncoMed shareholders and other customary closing conditions. A preliminary registration statement on Form F-4 was filed with the Securities and Exchange Commission (SEC) by Mereo and is available on OncoMed’s website. The merger is expected to close in the second quarter of 2019.

Fourth Quarter and Full Year 2018 Financial Results

Cash, cash equivalents and short-term investments totaled $57.3 million as of December 31, 2018, compared to $103.1 million as of December 31, 2017.

Revenues were $44.4 million for the full year of 2018, an increase of $6.2 million, compared to $38.2 million for the same period in 2017. The increase in revenue was a result of the new revenue recognition standard adopted in the first quarter of 2018. Revenues were $10.2 million during the fourth quarter of 2018, a decrease of $10.4 million, compared to $20.6 million for the same quarter in 2017.

Research and development (R&D) expenses were $34.4 million for the full year 2018, a decrease of $25.4 million, compared to $59.8 million for the same period in 2017. The decrease in R&D expenses was due to decreases in clinical development costs and personnel cost, including stock-based compensation. R&D expenses were $8.0 million for

the fourth quarter of 2018, a decrease of $0.6 million, compared to $8.6 million for the same quarter in 2017.

General and administrative (G&A) expenses were $18.2 million for the full year 2018, an increase of $1.4 million, compared to $16.8 million for the same period in 2017. The increase in G&A expenses was primarily due to increases in consulting and outside professional fees, and transaction costs incurred as a result of the merger agreement entered into with Mereo in the fourth quarter of 2018, offset by a decrease in personnel costs, including stock-based compensation. G&A expenses were $5.4 million for the fourth quarter of 2018, an increase of $1.6 million, compared to $3.8 million for the same quarter in 2017.

Net loss was $8.1 million ($0.21 net loss per share, basic and diluted) for the year ended December 31, 2018, compared to a net loss of $39.1 million ($1.04 net loss per share, basic and diluted) for the same period of 2017. Net loss for the fourth quarter of 2018 was $4.7 million ($0.12 net loss per share, basic and diluted), compared to a net income of $9.5 million ($0.25 net income per share, basic and diluted) for the same quarter in 2017.

Amgen To Present At The Cowen and Company 39th Annual Healthcare Conference

On March 7, 2019 Amgen (NASDAQ:AMGN) reported that will present at the Cowen and Company 39th Annual Healthcare Conference at 9:20 a.m. ET on Tuesday, March 12, 2019, in Boston (Press release, Amgen, MAR 7, 2019, View Source;p=RssLanding&cat=news&id=2390558 [SID1234534168]). David W. Meline, executive vice president and chief financial officer at Amgen, will present at the conference. Live audio of the presentation can be accessed from the Events Calendar on Amgen’s website, www.amgen.com, under Investors. A replay of the webcast will also be available on Amgen’s website for at least 90 days following the event.

Amgen Announces 2019 Second Quarter Dividend

On March 7, 2018 Amgen (NASDAQ:AMGN) reported its Board of Directors declared a $1.45 per share dividend for the second quarter of 2019. The dividend will be paid on June 7, 2019, to all stockholders of record as of the close of business on May 17, 2019 (Press release, Amgen, MAR 7, 2019, View Source;p=RssLanding&cat=news&id=2390572 [SID1234534167]).