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ImmunoPrecise Antibodies’ Annual Revenues Increase 106% to 5.4 Million

On August 29, 2018 IMMUNOPRECISE ANTIBODIES LTD. ("ImmunoPrecise") (TSX Venture: IPA, Pink Sheets: IPATF) reported its financial results for the year ended April 30, 2018 (Press release, ModiQuest Therapeutics, AUG 29, 2018, View Source [SID1234529248]). The financial statements and related management’s discussion and analysis ("MD&A") can be viewed on SEDAR at www.sedar.com.

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Financial Highlights:

Revenue. ImmunoPrecise achieved record annual revenue of $5,441,349 in fiscal 2018 compared to $2,630,515 in fiscal 2017. This represents a 106% increase in revenue as a result of its acquisitions of U-Protein Express B.V. ("U-Protein") and ModiQuest Research BV ("ModiQuest"), and its ability to grow its core business and expand into higher revenue service offerings in therapeutic antibody discovery.
Gross Margin. ImmunoPrecise’s gross margin percentage equaled 45% in fiscal 2018 as compared to 54% in fiscal 2017. The decrease in gross margin was mostly attributable to the fact that ImmunoPrecise increased its staffing levels, made salary adjustments and incurred higher lab operating costs to accommodate greater levels of activity which drove down the gross margin.
Net Loss. ImmunoPrecise recorded a net loss of $5,171,103 in fiscal 2018 compared to $5,383,820 in fiscal 2017. The net loss in 2018 was mainly attributable to non-recurring growth-enabling investments made to pursue strategic initiatives.
Growth Initiatives in Fiscal 2018:

European Acquisitions. The U-Protein and ModiQuest acquisitions added state-of-the-art laboratories, licenses, intellectual property, and strong customer relationships in Europe. These subsidiaries continue to grow their revenue and serve as accretive investments, which will be fully reflected in the financial results for the first quarter of 2019.
Full-Service B-Cell Facility. ImmunoPrecise, Victoria, expanded its biotherapeutic discovery platform with the roll-out of full-service B-cell screening, sorting and sequencing offerings on a broad range of therapeutically-relevant protein families. This platform is aimed at expanding the diversity of antibodies obtained, by reducing antibody loss associated with cell fusion, and increasing the variety of species available for therapeutic discovery.
"We completed a number of growth initiatives, including our acquisitions of U-Protein and ModiQuest and expanded therapeutic offerings in each of Canada and Europe to become a single, unified Contract Research Organization (CRO) to pharmaceutical and biotech companies internationally," commented Jennifer Bath, CEO of the Company. "ImmunoPrecise’s infrastructure for comprehensive antibody discovery services and global reach enables us to help ensure customer success no matter where they are located in the world."

Heat Biologics to Present at the 20th Annual Rodman & Renshaw Global Investment Conference in New York City

On August 29, 2018 Heat Biologics, Inc. ("Heat") (NASDAQ: HTBX), a biopharmaceutical company developing drugs designed to activate a patient’s immune system against cancer, reported it will present at the 20th Annual Rodman & Renshaw Global Investment Conference, sponsored by H.C. Wainwright & Co., LLC (Press release, Heat Biologics, AUG 29, 2018, https://heatbio.com/heat-biologics-present-20th-annual-rodman-renshaw-global-investment-conference-new-york-city/ [SID1234529241]). The conference is being held on September 4-6, 2018 at The St. Regis New York in New York City.

Jeff Wolf, Founder and Chief Executive Officer of Heat Biologics, will provide an overview of the Company’s business during the live presentation and will be available to participate in one-on-one meetings with investors who are registered to attend the conference.

Event: 20th Annual Rodman & Renshaw Global Investment Conference

Date: Wednesday, September 5, 2018

Time: 4:40-5:05 PM (Eastern Time)

Location: Louis XVI B; The St. Regis New York

If you are unable to attend and would like to view the Company’s live webcast, please click on the following link (View Source).

OncoMed to Present at Two Upcoming Investor Conferences in September

On August 29, 2018 OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, reported that John Lewicki, Ph.D., President and Chief Executive Officer of OncoMed, will provide a corporate update at two upcoming investor conferences (Press release, OncoMed, AUG 29, 2018, View Source [SID1234529239]).

Wells Fargo Securities 2018 Healthcare Conference in Boston, MA on September 5, 2018 at 9:40 am Eastern Time
20th Annual Rodman & Renshaw Global Investment Conference, sponsored by H.C. Wainwright & Co., LLC in New York, NY on September 6, 2018 at 4:40 pm Eastern Time
To access the live webcasts and subsequent archived recordings of these and other company presentations, please visit OncoMed’s website at www.oncomed.com/invest/events.cfm. A replay of each presentation will be available for 30 days following the date of the event.

MEI Pharma To Present at Wells Fargo Securities 2018 Healthcare Conference

On August 29, 2018 MEI Pharma, Inc. (Nasdaq: MEIP), a pharmaceutical company focused on leveraging its extensive development and oncology expertise to identify and advance new therapies for cancer, reported that Daniel P. Gold, Ph.D., the Company’s president and chief executive officer, will present a corporate update at the Wells Fargo Securities 2018 Healthcare Conference on September 5, 2018 at 11:25 a.m. ET (Press release, MEI Pharma, AUG 29, 2018, View Source [SID1234529229]). The conference will take place September 5-6, in Boston, MA.

A live audio webcast of the event can be accessed on the Events & Presentations page of the Investors section of MEI Pharma’s website at View Source

An archived replay of the webcast will be available on MEI Pharma’s website for at least 30 days after the live event concludes.

Sophiris Bio Updates on Phase 2b Localized Prostate Cancer Trial

On August 29, 2018 Sophiris Bio Inc. (NASDAQ: SPHS) (the "Company" or "Sophiris"), a biopharmaceutical company studying topsalysin (PRX302), a first-in-class, pore-forming protein, in late-stage clinical trials for the treatment of patients with urological diseases, reported the conclusion of the ongoing investigation into the previously reported death of a patient in the Company’s Phase 2b trial for the treatment of localized prostate cancer is unlikely to be related to either topsalysin or the procedure (Press release, Sophiris Bio, AUG 29, 2018, View Source [SID1234529217]). The regulatory authorities in the United States and the United Kingdom where the study is being conducted have been notified.

Following a comprehensive review of the recently received autopsy report, together with hospital records and the negative serology results for acute hypersensitivity, the Investigator and Company believe that the cause of death is consistent with the autopsy finding of Sudden Cardiac Death (SCD) probably due to an arrhythmia. The autopsy found that the patient had multiple risk factors for SCD. The investigator and the Company concur that the event is unlikely related to topsalysin or the procedure.

"As we have previously reported, over 450 patients have received topsalysin at various doses. Topsalysin continues to appear to be well-tolerated with no new safety signals reported," said Randall E. Woods, President and Chief Executive Officer of Sophiris. "We are very encouraged with the results from the single administration of topsalysin in our Phase 2b study that were reported in June 2018. We continue to plan and move forward with a potential Phase 3 study design based on the response rates and safety profile we have observed to date. We look forward to reporting the complete efficacy and safety data from the Phase 2b study by the end of the year which will include the biopsy and safety data from the 10 patients who received a second administration of topsalysin."

About Localized Prostate Cancer

Prostate cancer is the second most common form of cancer in men in the US with an estimated 161,000 new cases in 2017. Approximately 80 percent of patients in the US are diagnosed with localized disease. Research has shown that patients with early, localized disease have a low likelihood of the cancer spreading beyond the confines of the prostate; however, many men with clinically significant localized disease choose to undergo radical treatment. Radical therapies include surgery to remove the entire prostate and/or radiation. Potential toxicities from radical treatments can be significant and permanent and include erectile dysfunction, urinary incontinence, and rectal toxicity.

About Topsalysin

Topsalysin (PRX302), an innovative, "First-in-Class" transmembrane pore-forming protein, was genetically modified to be activated only by enzymatically-active PSA, which is produced in large quantities within the prostate of men with prostate cancer. The targeted focal treatment of prostate cancer is in line with current treatment trends for solid tumors such as breast and liver, where the goal is to remove the tumor and preserve as much of the organ and organ function as possible.

Topsalysin has the potential to provide a targeted focal therapy for the ablation of localized prostate cancer lesions while potentially avoiding many of the complications and side effects associated with whole gland radical treatments. The increasing use of multiparametric magnetic resonance imaging (mpMRI) and advances in software to co-register previously obtained mpMRI images with real-time three-dimensional ultrasound images enables urologists to more accurately locate tumors within the prostate when taking biopsies. This increases the accuracy with which men with clinically significant lesions are identified. It also enables the injection of an ablative agent, such as topsalysin, directly into previously identified clinically significant tumors located within the prostate.