LYNPARZA RECEIVES ADDITIONAL AND BROAD APPROVAL IN THE US FOR OVARIAN CANCER

On August 17, 2017 AstraZeneca and Merck & Co., Inc., (Merck: known as MSD outside the U.S. and Canada) reported that the US Food and Drug Administration (FDA) has granted approval for the PARP inhibitor, Lynparza (olaparib), as follows:

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● New use of Lynparza as a maintenance treatment for recurrent, epithelial ovarian, fallopian tube or primary peritoneal adult cancer who are in response to platinum-based chemotherapy, regardless of BRCA status;
● New use of Lynparza tablets (2 tablets twice daily) as opposed to capsules (8 capsules twice daily);
● Lynparza tablets also now indicated (conversion from the current accelerated approval) for the use in patients with deleterious or suspected deleterious germline BRCA-mutated advanced ovarian cancer, who have been treated with three or more prior lines of chemotherapy (Press release, AstraZeneca, AUG 17, 2017, View Source [SID1234520271]).

Sean Bohen, Executive Vice President, Global Medicines Development and Chief Medical Officer, AstraZeneca, said: "Physicians have almost three years of clinical experience with Lynparza on the market and we are now pleased to bring this important medicine, in a new tablet formulation, to a broader group of women. Today’s approvals validate more than 10 years of dedicated research behind Lynparza, the world’s first PARP inhibitor, which now provides oncologists with the greater flexibility for use in terms of treatment settings. It builds on our recently-announced collaboration with Merck, which aims to further increase the number of treatment options available to patients."

Eric Pujade-Lauraine, Head of the Women Cancers and Clinical Research Department at Hôpitaux Universitaires Paris Centre, site Hôtel-Dieu, AP-HP and Principal Investigator of the SOLO-2 trial, one of the trials supporting the approval, said: "Today’s approval is welcome news for US patients with ovarian cancer, who are now able to benefit from treatment with olaparib irrespective of their BRCA-mutation status. This latest regulatory milestone underscores the breadth and depth of clinical data on olaparib, and not only demonstrates its efficacy as maintenance therapy, but adds to the data presented earlier this year showing sustained quality of life for patients undergoing treatment for this serious disease."

Roger M. Perlmutter, President of Merck Research Laboratories, said: "We congratulate AstraZeneca on the approval of these new indications and the new dosage form and schedule for Lynparza, an important therapeutic advance for many patients with ovarian cancer. This is a significant first regulatory event in our collaboration with AstraZeneca. We look forward to working with AstraZeneca in our global collaboration to bring this medicine with its new indications to patients."

Two randomised trials supported the new approvals and the conversion of accelerated approval to full approval which was originally based on a single-arm trial:
● SOLO-2 (n=295) confirmed the benefit of Lynparza in germline BRCA-mutated (gBRCAm) patients, demonstrating a 70% reduced risk of disease progression or death (HR 0.30 [95% CI, 0.22-0.41], P<0.0001) and improved progression-free survival (PFS) to 19.1 vs 5.5 months for placebo by investigator-assessed analysis.

● Study 19 (n=265) showed that Lynparza reduced the risk of disease progression or death by 65% and improved PFS compared with placebo in patients of any BRCA status (HR 0.35 [95% CI, 0.25-0.49], P<0.0001; median PFS of 8.4 months vs 4.8 months for placebo). Additionally, patients in Study 19, treated with Lynparza as a maintenance therapy, had a median overall survival (OS) of 29.8 months vs 27.8 months for placebo (HR 0.73 [95% CI, 0.55-0.95]).

Table 1. Summary of key efficacy results from randomised trials:
Analysis
Reduction in the risk of disease progression or death (PFS)
Reduction in the risk of death (OS)
SOLO-2
[gBRCAm]
Lynparza
70% (HR 0.30 [95% CI, 0.22-0.41], P<0.0001)
Data not yet mature
Placebo
Study 19
[PSR OC*]
Lynparza
65% (HR 0.35 [95% CI, 0.25-0.49], P<0.0001)
27% (HR 0.73 [95% CI, 0.55-0.95]
Placebo
*PSR = Platinum-sensitive recurrent ovarian cancer

The most-common adverse events reported in 20% or more of patients across the SOLO-2 trial in the Lynparza arm were anaemia (44%), nausea (76%), vomiting (37%), diarrhoea (33%), fatigue/asthenia (66%), decreased appetite (22%), headache (25%), and dysgeusia (27%). The most-common Grade 3 or 4 adverse events were anaemia (20%), nausea (2.6%), vomiting (2.6%), diarrhoea (1.0%), fatigue/asthenia (4.1%), and headache (0.5%). Discontinuation of Lynparza resulting from adverse events was seen in 11% of patients. Dose interruptions of Lynparza due to an adverse reaction of any grade was 45%. Dose reductions of Lynparza due to an adverse reaction was 25%.

The most-common adverse events reported in 20% or more of patients across the Study 19 trial in the Lynparza arm were anaemia (23%), nausea (71%), vomiting (35%), diarrhoea (27%), fatigue (including asthenia) (63%), decreased appetite (21%), and headache (21%). The most-common Grade 3 or 4 adverse events were anaemia (7.4%), nausea (2.2%), vomiting (2.2%), diarrhoea (2.2%), and fatigue (including asthenia) (8.8%). Discontinuation of Lynparza resulting from adverse events was seen in 4% of patients. Dose interruptions of Lynparza due to an adverse reaction of any grade was 25%. Dose reductions of Lynparza due to an adverse reaction was 15%.

The full data from the SOLO-2 trial can be found in the 25 July 2017 publication of The Lancet Oncology.

Lynparza was first approved under the FDA’s Accelerated Approval programme in December 2014, as a capsule formulation, making it the first poly ADP-ribose polymerase (PARP) inhibitor approved. Since then, more than 3,000 advanced ovarian cancer patients have been treated with Lynparza capsules in its approved indication.

About SOLO-2
SOLO-2 was a Phase III, randomised, double-blinded, multicentre trial designed to determine the efficacy of Lynparza tablets as a maintenance monotherapy compared with placebo, in patients with platinum-sensitive, relapsed or recurrent gBRCA-mutated ovarian, fallopian tube and primary peritoneal cancer. The trial, conducted in collaboration with the European Network for Gynaecological Oncological Trial Groups (ENGOT) and Groupe d’Investigateurs National pour l’Etude des Cancers de l’Ovaire et du sein (GINECO), randomised 295 patients with documented germline BRCA1 or BRCA2 mutations who had received at least 2 prior lines of platinum-based chemotherapy and were in complete or partial response. Eligible patients were randomised to receive 300mg Lynparza tablets twice daily or placebo tablets twice daily.

About Study 19
Study 19 was a Phase II, randomised, double-blinded, placebo-controlled, multicentre trial, which evaluated the efficacy and safety of Lynparza compared with placebo in relapsed, high-grade serous ovarian cancer patients, involving 82 sites across 16 countries. Patients received Lynparza maintenance monotherapy, at a dose of 400mg per day or matching placebo. Treatment continued until disease progression if toxicities were manageable.

About Lynparza
Lynparza is an innovative, first-in-class oral poly ADP-ribose polymerase (PARP) inhibitor that may exploit tumour DNA damage response (DDR) pathway deficiencies to preferentially kill cancer cells. It is approved by regulatory authorities in the EU and US for the treatment of women with BRCAm ovarian cancer.

Lynparza is the foundation of AstraZeneca’s industry-leading portfolio of potential new medicines targeting DDR mechanisms in cancer cells. Lynparza tablets are currently being tested in combinations in a range of tumour types including breast, prostate, and pancreatic cancers.

About the AstraZeneca and Merck Strategic Oncology Collaboration
On 27 July 2017, AstraZeneca and Merck & Co., Inc., announced a global strategic oncology collaboration to co-develop and co-commercialise AstraZeneca’s Lynparza, the world’s first and leading PARP inhibitor, and potential new medicine selumetinib, a MEK inhibitor, for multiple cancer types. The collaboration is based on increasing evidence that PARP and MEK inhibitors can be combined with PDL-1/PD-1 inhibitors for a range of tumour types and is aimed at maximising the potential of Lynparza to become the preferred backbone of combination therapies. Working together, the companies will jointly develop Lynparza and selumetinib in combination with other potential new medicines and as a monotherapy. Independently, the companies will develop Lynparza and selumetinib in combination with their respective PD-L1 and PD-1 medicines.

About AstraZeneca in Ovarian Cancer
Worldwide, ovarian cancer is the 7th most-commonly diagnosed cancer and the 8th most-common cause of cancer death in women. The risk of developing ovarian cancer is increased in women with specific inherited genetic abnormalities, including BRCA mutations. AstraZeneca is committed to the continued development of our R&D portfolio for ovarian cancer, with a focus on improved care for all patients, including the development of targeted therapies for patients with specific gene mutations such as BRCA.

10-K – Annual report [Section 13 and 15(d), not S-K Item 405]

(Filing, 10-K, Immunomedics, AUG 16, 2017, View Source [SID1234520270])

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Immunomedics Announces Fiscal 2017 Results and Strategic Developments; Reiterates Guidance on BLA Submission Timeline

On August 16, 2017 Immunomedics, Inc. (NASDAQ:IMMU) ("Immunomedics" or the "Company") reported financial results for the fourth quarter and fiscal year ended June 30, 2017 (Press release, Immunomedics, AUG 16, 2017, View Source [SID1234520288]). The Company also highlighted recent key developments and planned activities for its clinical pipeline. Please refer to the Company’s Annual Report on Form 10-K filed today with the SEC for more detail on the Company’s financial results.

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Dr. Behzad Aghazadeh, Chairman of the Board of Directors of Immunomedics, stated, "We believe we have made significant progress toward preparing a Biologics License Application (BLA) for filing with the U.S. Food and Drug Administration (FDA) for accelerated approval of IMMU-132 in metastatic triple-negative breast cancer (mTNBC). To that end, we have made advancements in all areas, including clinical, regulatory, and manufacturing, and we expect to receive clarification during a pre-BLA meeting with the FDA on the level of Chemistry, Manufacturing & Controls (CMC) process validation required at the time of the BLA submission. Importantly, our continued evaluation of the clinical data and manufacturing processes, as well as the progress over the past several months, have further strengthened our confidence in the prospects for IMMU-132 in mTNBC. We look forward to submitting the BLA between December 2017 and March 2018, which along with business development opportunities, should enable us to generate significant value for our stockholders."

Key 2017 Accomplishments:

The Company completed enrollment of the full complement of 100+ patients in the single-arm Phase 2 trial of mTNBC, and presented encouraging preliminary results on the initial 85 patients at its January 18th Investor R&D Day. The complete dataset will be part of the BLA submission for accelerated approval.

In February, the Company presented interim Phase 2 results for IMMU-132 in patients with metastatic urothelial cancer at the 2017 Genitourinary Cancers Symposium. The results demonstrated IMMU-132’s potential to become a second line or later treatment to platinum-based or immuno-oncology therapy for these patients.

In March, the Company underwent a management transition and a new Board of Directors was seated, accompanying a new strategic direction focused on maintaining commercial rights for IMMU-132 and developing plans in preparation for a potential U.S. launch in 2018.

In May, Immunomedics completed a private placement of its Series A-1 Convertible Preferred Stock with institutional investors, raising $125 million in gross proceeds. The capital provides the financial flexibility to ensure that the Company has the right organizational structure and resources necessary to bring IMMU-132 to market and working toward achieving its long-term objectives.

As part of a full multi-faceted review of the Company, highly credentialed independent consultants were appointed by the Board in the areas of project management, manufacturing, and clinical and regulatory strategy.

In July, results from IMMU-132 clinical trials in advanced small-cell lung cancer (SCLC) and advanced non-small-cell lung cancer (NSCLC) were published in peer-reviewed journals. These results support the breadth of the therapeutic role for IMMU-132 in the treatment of metastatic solid cancers.
Key Upcoming Events:

Interim Phase 2 results with IMMU-132 in patients with metastatic urothelial cancer will be presented at the European Society for Medical Oncology 2017 Congress (ESMO; Sept. 2017 Madrid, Spain), by Dr. Scott T. Tagawa, Associate Professor of Medicine and Urology, Weill Cornell Medical College.

The Company expects to receive clarification during a pre-BLA meeting with the FDA on the level of CMC process validation required at the time of the BLA submission. The level of validation required by the FDA will be a determining factor in the filing timeline, which is expected to be between December 2017 and March 2018.

Preparation for the confirmatory Phase 3 trial in mTNBC is proceeding according to plan, with enrollment of first patient expected to occur in early fourth quarter of calendar 2017, satisfying the FDA requirement for the BLA filing for accelerated approval in mTNBC.

The Company expects to present the final results of IMMU-132 in mTNBC that will form the basis of the BLA submission later this year.
Fourth Quarter and Full-Year Fiscal 2017 Results

Total revenue for the fourth quarter ended June 30, 2017, was $0.6 million, compared to $0.9 million for the same quarter last year, a decrease of approximately 33%. Total revenue for the full year ended June 30, 2017 was $3.1 million, compared to $3.2 million for the fiscal year 2016, a decrease of approximately 3.0%. The decreases for both the fourth quarter and full-year periods were due primarily to a decrease in grant revenue. The decrease in the full-year revenue was offset partially by a $0.1 million increase in LeukoScan sales.

Total operating expenses for the fourth quarter ended June 30, 2017 were $27.4 million, compared to $15.6 million for the same quarter last year, an increase of approximately 76%. Total costs and expenses were $82.2 million for the full year ended June 30, 2017, an increase of approximately 32%, compared to the same period in 2016. The increases for both the fourth quarter and full-year periods were due primarily to non-recurring general and administrative expenses including legal and advisory fees associated with the proxy contest launched by venBio Select Advisor LLC (venBio) in November 2016, the reimbursement of proxy-related costs incurred by venBio, and incremental executive severance.

Research and development expenses were $51.8 million for the full year ended June 30, 2017, a decrease of approximately 3%, compared to the same period in 2016 due primarily to a $11.4 million reduction in clinical trial costs resulting from the closure of the Phase 3 PANCRIT-1 clinical trial in fiscal 2016, offset partially by a $9.7 million increase in product development expense for IMMU-132 manufacturing.

The Company recognized $25.5 million and $61.1 million in non-cash expense during the fourth quarter and full year ended June 30, 2017, respectively, arising from the increase in fair value of warrant liability resulting from the increase in the share price of our common stock during both periods. The Company also recognized a $7.6 million non-cash warrant-related expense for the full year, representing the excess of fair value of the warrant issued to Seattle Genetics, Inc. on February 10, 2017 (the "SGEN Warrant") over the proceeds received for the issuance of common stock and the SGEN Warrant. There was no warrant-related expense in fiscal 2016.

Interest expense related to the 4.75% Convertible Senior Notes due 2020 (Convertible Notes) was $1.4 million for the quarters ended June 30, 2017 and June 30, 2016, including the amortization of $0.2 million debt issuance costs in each quarter. Interest expense related to the Convertible Notes was $5.5 million for the full years ended June 30, 2017 and June 30, 2016, including the amortization of $0.7 million debt issuance costs in each fiscal year.

The Company did not realize any income tax benefit for the fiscal year ended June 30, 2017, compared to a $5.1 million income tax benefit for fiscal year 2016 from the sale of a portion of our New Jersey State net operating losses and research and development tax credits. The Company did not receive an income tax benefit during the fiscal year ended June 30, 2017 because it had reached the maximum amount permissible under the New Jersey Business Tax Certificate Transfer Program.

Net loss attributable to stockholders was $53.3 million, or approximately $0.48 per share, for the fourth quarter ended June 30, 2017, and $153.2 million, or approximately $1.47 per share, for the full year ended June 30, 2017. This compares to net loss attributable to stockholders of $15.9 million, or approximately $0.17 per share, for the fourth quarter ended June 30, 2016 and $59.0 million, or approximately $0.62 per share, for full year 2016.

Cash, cash equivalents, and marketable securities totaled $154.9 million as of June 30, 2017.

"We are pleased with the significant operational progress we are making and believe that our current financial resources are sufficient to support operations through September 2018, not factoring in any potential cash receipts from warrants outstanding with Seattle Genetics or other investors," said Michael R. Garone, Principal Executive Officer and Chief Financial Officer.

TRACON Pharmaceuticals Announces Positive Results from National Cancer Institute Phase 1/2 Trial of TRC105 and Nexavar® in Hepatocellular Cancer Published in Clinical Cancer Research

On August 16, 2017 TRACON Pharmaceuticals (NASDAQ:TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer, wet age-related macular degeneration and fibrotic diseases, reported that positive results from the National Cancer Institute (NCI) Phase 1/2 trial of TRC105 and Nexavar (sorafenib) in hepatocellular cancer (HCC) were published in the August 15 issue of Clinical Cancer Research (Volume 23, Issue 16, pages 4633-4641) (Press release, Tracon Pharmaceuticals, AUG 16, 2017, View Source [SID1234520278]).

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The Phase 1b/2 trial enrolled a total of 26 patients with advanced HCC. Patients were dosed at one of four levels of TRC105 (3, 6, 10 and 15 mg/kg every two weeks), and with the standard dose of Nexavar of 400 mg twice daily. The overall response rate (ORR) in the 20 evaluable patients with measurable disease over all four dose levels was 25% (95% CI: 8.7-49.1%) by the Response Evaluation Criteria in Solid Tumors (RECIST), with all responses occurring at the highest two dose levels of TRC105. The ORR in the two highest dose levels of TRC105 was 33%. Four additional patients had confirmed stable disease, one of whom was treated for 22 months. Median progression free survival (PFS) was 3.8 months (95% CI: 3.2-5.6 months) and median overall survival (OS) was 15.5 months (95% CI: 8.5-26.3 months). Nexavar was approved for the treatment of patients with advanced HCC based on median OS of 10.7 months (95% CI: 9.4-13.3 months) versus 7.9 months (95% CI: 6.8-9.1 months) with placebo in the multicenter SHARP trial. The ORR for Nexavar treatment by RECIST in the SHARP trial was 2%.

NCI study researchers concluded that the combination of TRC105 and Nexavar was well-tolerated at the recommended single agent doses of both drugs, and that encouraging evidence of activity was observed. TRACON is currently sponsoring a separate Phase 1/2 multicenter study of TRC105 and Nexavar (ClinicalTrials.gov identifier NCT02560779) to confirm the activity reported by the NCI. The NCI will recruit patients into this multicenter study.

“The final data from the NCI study of TRC105 and Nexavar in HCC published today reinforce the encouraging preliminary data presented previously at ASCO (Free ASCO Whitepaper). Collectively, these data suggest that the combination of TRC105 and Nexavar is active in patients with HCC and support the advancement of this combination into further clinical studies,” said Charles Theuer, M.D., Ph.D., President and CEO of TRACON. “We expect to report data from the TRACON-sponsored multicenter Phase 1/2 HCC trial in early 2018.”

About Carotuximab (TRC105) and other Endoglin Antibodies

TRC105 is a novel, clinical stage antibody to endoglin, a protein overexpressed on proliferating endothelial cells that is essential for angiogenesis, the process of new blood vessel formation. TRC105 is currently being studied in one Phase 3 and multiple Phase 2 clinical trials sponsored by TRACON or the National Cancer Institute for the treatment of solid tumors in combination with VEGF inhibitors. TRC105 has received orphan designation for the treatment of soft tissue sarcoma in both the U.S. and EU. The ophthalmic formulation of TRC105, DE-122, is currently in a Phase 2 clinical trial for patients with wet AMD. TRC205, a second generation antibody to endoglin, is undergoing preclinical testing in models of fibrosis. For more information about the clinical trials, please visit TRACON’s website at www.traconpharma.com/clinical_trials.php.

MEDIGENE PRESENTS POSTERS ON IMMUNOTHERAPIES AT CRI-CIMT-EATI-AACR CONFERENCE

On August 16, 2017 Medigene AG (FSE: MDG1, Prime Standard, TecDAX) reported that scientists of the Company were invited to present two posters on its T cell receptor (TCR)-modified T cell therapies during the upcoming CRI-CIMT-EATI-AACR Conference (Press release, MediGene, AUG 16, 2017, View Source [SID1234520275]). The Cancer Research Institute (CRI), the Association for Cancer lmmunotherapy (CIMT) (Free CIMT Whitepaper), the European Academy of Tumor Immunology (EATI), and the American Association for Cancer Research (AACR) (Free AACR Whitepaper) sponsor the Third International Cancer lmmunotherapy Conference that takes place in Mainz, Germany, from September 6-9, 2017.

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During the "Neoantigens and Cancer Mutations" session, Dr. Christiane Mummert, scientist at Medigene Immunotherapies, will present her poster describing a semi-automated method for the isolation and initial characterization of neoantigen-specific T cell receptors. In summary, the experiments demonstrated that neoantigen-specific TCRs can be isolated from peripheral blood samples of healthy donors and initially characterized in eight to ten weeks using an innovative high-throughput robotics platform.

On the second poster, presented during the "Adoptive Cell Therapy" session, shared co-authors Dr. Christian Ellinger and Dr. Manon Weis describe properties of Medigene’s PRAME-specific TCR for adoptive T cell immunotherapy of cancer. Using an innovative TCR isolation and characterization platform, a TCR with natural high avidity for a PRAME-derived epitope was isolated showing potent efficacy and a favorable safety profile that will be further evaluated in clinical trials.

Both posters will be presented during "Poster Session A" that will take place on September 6 between 6:00 pm – 8:00 pm.

About Medigene’s TCR technology: The TCR technology aims at arming the patient’s own T cells with tumor-specific T cell receptors (TCRs). The receptor-modified T cells are then able to detect and efficiently kill tumor cells. This immunotherapy approach attempts to overcome the patient’s tolerance towards cancer cells and tumor-induced immunosuppression by activating and modifying the patient’s T cells outside the body (ex vivo).
TCR therapy is developed to utilize a higher number of potential tumor antigens than other T cell-based immunotherapies, such as chimeric antigen receptor T cell (CAR T) therapy. Medigene is preparing the clinical development of its first TCR candidates and is establishing a pipeline of recombinant T cell receptors, and has established Good Manufacturing Practice (GMP)-compliant processes for their combination with patient-derived T cells.

Medigene’s first TCR immunotherapy "MDG1011" will be tested in a clinical Phase I/II trial intended to be started by the end of 2017.

Besides the planned company-sponsored TCR trial, Medigene is involved in an investigator-initiated trial (IIT) with TCRs in multiple myeloma (MM) to be conducted by the Charité – Universitätsmedizin Berlin in cooperation with the Max Delbrück Centre (MDC), Berlin.