Supernus Announces Webcast of Investor Day on April 16, 2019

On April 1, 2019 Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system diseases, reported that it will host and webcast an Investor Day on Tuesday, April 16, 2019 (Press release, Supernus, APR 1, 2019, View Source [SID1234534886]).

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During the meeting, members of Supernus’ senior management team will provide a detailed discussion of the Company’s clinical programs, including SPN-810 for the treatment of Impulsive Aggression in ADHD and results of its Phase III clinical program of SPN-812 for the treatment of ADHD, and an assessment of their market opportunity. In addition, key thought leaders will share their perspectives on the current treatment paradigms, unmet medical needs, and the Company’s clinical development programs.

Presentation Date: Tuesday, April 16, 2019
Time: 8:00 a.m. ET (registration); 8:30 a.m. to 12:00 p.m. ET (presentation)
Place: Lotte New York Palace, New York City

To register to attend the event please contact [email protected] or (443) 450-4190.

A live webcast of the presentation can be accessed by visiting ‘Events & Presentations’ in the Investors section on the Company’s website at www.supernus.com. An archived replay of the webcast will be available on the Company’s website.

Replimune Announces Presentation at the American Association for Cancer Research Annual Meeting 2019

On April 1, 2019 Replimune Group Inc. (NASDAQ: REPL), a biotechnology company developing oncolytic immuno-gene therapies derived from its Immulytic platform, reported that pre-clinical data on its oncolytic immunotherapy platform will be presented at a poster session today at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2019 being held in Atlanta, Georgia (Press release, Replimune, APR 1, 2019, View Source [SID1234534884]).

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"The pre-clinical data to be presented in this poster reiterates the ability of our platform to provide a potent and versatile approach to developing new therapies intended to maximally activate a patient’s immune system against their own cancer," commented Robert Coffin, Ph.D., co-founder, President and CEO of Replimune. "This data supports the clinical development of our advancing pipeline of oncolytic immunotherapies, including our lead product candidate, RP1, and RP2 which additionally encodes an anti-CTLA-4 antibody."

Details of Replimune’s poster presentation:

Abstract Title: Development & characterization of a new oncolytic immunotherapy platform based on herpes simplex virus type 1 (Abstract #3136)

Session Date and Time: Monday April 1, 2019, 8:00AM – 12:00PM

Location: Georgia World Conference Center, Exhibit Hall B, Poster Section 22

The poster will be made available on the company’s website from the time of presentation.

Abstracts and full session details can be found at www.aacr.org

Mustang Bio Announces $20 Million Venture Debt Financing Agreement with Horizon Technology Finance

On April 1, 2019 Mustang Bio, Inc. ("Mustang") (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, reported that it has entered into a $20 million debt financing agreement with Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services and cleantech industries (Press release, Mustang Bio, APR 1, 2019, View Source [SID1234534882]).

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Fifteen million of the $20 million loan was funded upon closing. The remaining $5 million may be funded upon Mustang achieving certain predetermined milestones. Each advance of the loan will be repaid in 42 monthly payments consisting of 18 monthly payments of interest only, followed by 24 monthly payments of principal and accrued interest, and will be payable monthly in arrears. The interest-only period may be extended to 24 months contingent upon Mustang achieving certain milestones. In connection with the debt financing, Mustang issued Horizon warrants to purchase up to 288,184 of its common shares at an exercise price of $3.47 per share.

"This financing provides Mustang with additional working capital to continue to develop our gene and cell therapies in our cell processing facility in Worcester, Mass., with the goal of bringing potentially life-saving treatments to patients in need," said Manuel Litchman, M.D., President and Chief Executive Office of Mustang. "We are pleased to partner with Horizon, a leading specialty finance company that has an extensive history of supporting innovative life science companies."

Gerald A. Michaud, President of Horizon, stated, "We are delighted to provide this significant loan for Mustang Bio, an exciting company with promising treatments for cancer and rare genetic diseases. With Mustang Bio’s pipeline of cell and gene therapies, the company is poised for success as it works to commercialize its product pipeline."

Torreya Partners served as financial advisor to Mustang in conjunction with this transaction.

Leap Therapeutics Reports Clinical Update
and 2018 Financial Results

On April 1, 2019 Leap Therapeutics, Inc. (Nasdaq:LPTX), a biotechnology company developing targeted and immuno-oncology therapeutics, reported an update on its clinical development programs along with financial results for the fourth quarter and year ended December 31, 2018 (Press release, Leap Therapeutics, APR 1, 2019, View Source [SID1234534880]).

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Leap Highlights

· DKN-01 plus Keytruda exceeds benchmarks in gastric cancer

·Predictive biomarker enables patient selection

· DKN-01 plus paclitaxel exceeds benchmarks in esophagogastric cancer

·Two DKN-01 monotherapy responses in endometrial cancer

· DKK1-positive prostate cancer study enrolling 97 patients

· TRX518 has first reported GITR agonist monotherapy confirmed partial response in the industry

· TRX518 combination with Keytruda or Opdivo demonstrating durable complete and partial responses

· TRX518 combination with gemcitabine achieved partial response and meaningful clinical benefit in patients who had previously progressed on gemcitabine therapy

·Raised $13.225 million to support further clinical development

DKN-01 Clinical Update

DKN-01 is a humanized monoclonal antibody targeting the Dickkopf-1 (DKK1) protein, a Wnt pathway modulator. DKN-01, as a single agent, has achieved partial responses in three different cancer indications. In combination with immune checkpoint inhibitors and with chemotherapy, DKN-01 has achieved overall response rates and survival data that is greater than the historical benchmarks, particularly in biomarker targeted patient populations.

·DKN-01 plus Keytruda (pembrolizumab) exceeds PD-1 antibody monotherapy benchmarks in gastric and gastroesophageal junction cancer Leap has completed the enrollment of fifty-two patients who have advanced esophagogastric cancer and who were naïve to PD-1/PD-L1 therapy. Thirty-four patients with gastric (GC) or gastroesophageal junction (GEJ) cancer were enrolled, and twenty-five are evaluable for tumor response. Five patients (20%) have had a partial response (PR) by Response Evaluation Criteria in Solid Tumors (RECIST) v1.1, and eight patients (32%) have experienced a best response of stable disease (SD), representing a disease control rate (DCR) of 52%. One patient continuing on therapy for six months has 36.4% tumor reduction, a PR by immune related RECIST (iRECIST), but not considered a PR by RECIST v1.1 due to tumor growth of greater than 20% at the first assessment, likely representing pseudoprogression. All of the patients in the study have tumors that are microsatellite stable or unknown, representing a population in which the benchmark overall response rate (ORR) of PD-1 antibodies is approximately 9%.

·DKK1 biomarker predicts response to DKN-01 plus Keytruda The overall response rate (ORR) and DCR has been higher in patients with higher DKK1 expression as measured by in situ hybridization RNAscope (H-scores). DKK-1 H-scores have been determined for thirty-two evaluable PD-1 therapy naïve patients, including nineteen GC/GEJ patients. Nine GC/GEJ patients had DKK1 H-Scores of greater than 31, including the six PRs (66.7%) by RECIST and iRECIST, two patients (22.2%) experiencing SD, and one patient (11.1%) with progressive disease. In the ten GC/GEJ patients with DKK1 H-Scores of 31 or lower, two patients (20%) had a best response of SD and eight patients (80%) had progressive disease.

·DKN-01 plus paclitaxel exceeds chemotherapy benchmark in esophagogastric cancer patients In total, fifty-eight patients with advanced esophagogastric cancer were treated, with fifty-two evaluable for response. Across all lines of prior therapy and tumor types, DKN-01 plus paclitaxel generated a 25.0% ORR, 13.4 weeks median progression-free survival (PFS), and 27.9 weeks median overall survival (OS). In the fifteen evaluable second-line patients, the combination of DKN-01 plus paclitaxel generated a 46.7% ORR, 19.6 weeks PFS, and 61.1 weeks OS. In a recent benchmark study in second-line esophageal cancer patients, single agent chemotherapy achieved a 6.7% ORR, 3.4 month PFS, and 7.1 month OS.

·Two monotherapy and one combination therapy responses for DKN-01 in advanced gynecological cancers, with seventy-eight patients now enrolled DKN-01, both as a monotherapy and in combination with paclitaxel, generated PRs and durable clinical benefit, including in patients with carcinosarcoma and Wnt pathway alterations. There have now been two DKN-01 monotherapy PRs and one PR in combination with paclitaxel in patients with epithelial endometrial cancer, all of whom have had Wnt pathway alterations. In total, seventy-eight patients have now been enrolled in this study, and many are pending first efficacy evaluation.

·Investigator-Initiated Study in DKK1-positive prostate cancer underway DKK1 is upregulated in a large number of patients whose advanced prostate cancer tumors do not express the androgen receptor. A study led by NYU Langone Medical Center and funded by Leap is enrolling metastatic DKK1-positive castration-resistant prostate cancer patients who have progressed on one or more androgen receptor therapies to be treated with either DKN-01 monotherapy or DKN-01 in combination with docetaxel.

TRX518 Clinical Update

TRX518 is unique among Glucocorticoid-Induced TNF Receptor (GITR) agonist antibodies for its aglycosyl design, permitting activation of GITR signaling without depleting CD8-positive T-effector cells. TRX518 has been shown to increase CD8-positive T-effector cell infiltrate and the expression of granzyme B, as well as decrease CD4-positive T-regulatory cell infiltrate. TRX518 is the first GITR agonist antibody in the industry to have reported partial responses as a monotherapy, in combination with PD-1 antibodies, and in combination with gemcitabine chemotherapy.

·Monotherapy patient with partial response A non-virally mediated hepatocellular cancer patient, who has been treated with single agent TRX518 for nearly two years, has achieved a PR with 47% tumor reduction and continues on study. TRX518 has demonstrated safety, tolerability, and clinical benefit as a monotherapy in patients with heavily pretreated solid tumors.

· Combination with Keytruda or Opdivo (nivolumab) achieved durable, confirmed complete and partial responses in patients not expected to respond to anti-PD-1 therapy An esophageal squamous cell carcinoma patient has a confirmed complete response. The patient has been treated for ten months and continues on study. A patient with uveal melanoma achieved 23% tumor reduction and six months of SD. A patient with urothelial carcinoma who had failed prior Keytruda had a confirmed PR and remained on therapy for six months. Twelve patients have recently enrolled in the expansion cohort for the Keytruda combination.

·Combination with gemcitabine achieved partial response and meaningful clinical benefit in patients who had progressed on gemcitabine therapy A pancreatic cancer patient, who had previously progressed on gemcitabine therapy and two other prior lines of therapy, has now achieved a confirmed PR with 58% tumor reduction. The patient has been treated for nine months and continues on study.

Selected Year-End and Fourth Quarter 2018 Financial Results

Net loss was $23.1 million for the year ended December 31, 2018, compared to $29.7 million for the year ended December 31, 2017. This decrease was primarily due to a noncash charge to decrease the fair value of the warrant liability. Net income was $1.5 million for the fourth quarter of 2018, compared to a net loss of $6.6 million for the same period in 2017. The 2018 increase was due to the decrease in the fair value of the warrant liability in the fourth quarter, leading to a $11 million non-cash gain. The requirement to revalue the warrant liability each quarter has resulted in the Company’s net income or net loss being highly variable.

Research and development expenses were $21.8 million for the full year 2018, compared to $22.5 million for the same period in 2017. This decrease was primarily due to reduced manufacturing expenses of our clinical product candidates and a decrease in stock based compensation expense offset by increased clinical trial costs due to increased patient enrollment. Research and development expenses were $6.9 million for the fourth quarter of 2018, compared to $4.4 million for the same period in 2017. This increase was due to increased clinical development expense associated with the start-up operations and enrollment of our ongoing clinical trials.

General and administrative expenses were $8.9 million for the full year 2018, compared to $9.8 million for the same period in 2017. This decrease was due to a decrease in stock based compensation expense. General and administrative expenses were $2.1 million for the fourth quarter of 2017, compared to $2.1 million for the same period in 2017.

Cash, cash equivalents and marketable securities totaled $16.3 million at December 31, 2018. Research and development incentive receivables totaled $0.8 million. Subsequent to the financial year end, Leap completed a public offering of $13.225 million of common stock and warrants, resulting in net cash proceeds of $12.1 million. Leap believes that its current cash and the expected receipt of research and development tax incentives will be sufficient to fund its operating expenses into the second quarter of 2020.

Precision BioSciences Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

On April 1, 2019 Precision BioSciences (Nasdaq: DTIL) ("Precision"), a genome editing company dedicated to improving life (DTIL) through its proprietary ARCUS genome editing platform, reported the closing of its initial public offering of 9,085,000 shares of common stock, which includes the full exercise of the underwriters’ option to purchase 1,185,000 additional shares of common stock, at a public offering price of $16.00 per share (Press release, Precision Biosciences, APR 1, 2019, View Source [SID1234534879]). The total gross proceeds to Precision were approximately $145.4 million, before deducting underwriting discounts and commissions and expenses payable by Precision. All of the shares were sold by Precision. The shares commenced trading on the Nasdaq Global Select Market under the ticker symbol "DTIL" on Thursday, March 28, 2019.

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J.P. Morgan, Goldman Sachs & Co. LLC, Jefferies and Barclays acted as joint book-running managers for the offering.

A registration statement relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission on March 27, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204 or email: [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone: (866) 471-2526, facsimile: (212) 902-9316, or email: [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone: (877) 547-6340 or email: [email protected]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone: (800) 603-5847.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.