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Exelixis Announces Clinical Development Collaboration with Merck for Phase 3 STELLAR-316 Pivotal Trial for Patients with Colorectal Cancer

On May 19, 2026 Exelixis, Inc. (Nasdaq: EXEL) reported that the company has entered into a clinical development collaboration with Merck, known as MSD outside of the United States and Canada, to supply KEYTRUDA QLEX (pembrolizumab and berahyaluronidase alfa-pmph) injection for subcutaneous administration in combination with zanzalintinib in STELLAR-316, a planned phase 3 pivotal trial in patients with resected stage II/III colorectal cancer (CRC). Under the terms of the clinical development collaboration with Merck, Exelixis is sponsoring the STELLAR-316 pivotal trial, and Merck will supply KEYTRUDA QLEX.

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"This collaboration with Merck for the STELLAR-316 trial reflects the continued progress of the zanzalintinib clinical development program and is an important step forward in our efforts to advance a potentially new treatment option that may help prevent or delay metastatic progression for patients with resected colorectal cancer," said Dana T. Aftab, Ph.D., Executive Vice President, Research and Development, Exelixis. "We look forward to initiating the clinical trial to evaluate this novel combination, with the goal of enhancing treatment strategies and meaningfully improving clinical outcomes for patients with this form of cancer who face a high risk of recurrence."

STELLAR-316 is a planned phase 3 pivotal trial that will evaluate zanzalintinib with and without KEYTRUDA QLEX in patients with resected stage II/III CRC who, following definitive therapy, have tested positive for molecular residual disease (MRD+) and have no radiographic evidence of disease. The primary endpoint of the trial will be disease-free survival, with key secondary endpoints including circulating tumor DNA clearance. In January 2026, Exelixis announced a collaboration with Natera, a global leader in cell-free DNA and precision medicine, for STELLAR-316. Natera will provide its Signatera assay to identify MRD+ patients for trial enrollment. Exelixis expects to initiate STELLAR-316 in mid-2026.

About CRC

CRC is the third most common cancer and a leading cause of cancer-related deaths in the U.S.1 Approximately 159,000 new cases will be diagnosed in the U.S. in 2026, with around 55,000 expected deaths from the disease.1 CRC is most frequently diagnosed among people aged 65-74 and is more common in men and in people of non-Hispanic American Indian/Alaska Native descent.2 Nearly a quarter of CRC cases are diagnosed at the metastatic stage, at which point the five-year survival rate is around just 15%.1,2 The liver is the most common site for CRC metastasis. Liver metastases significantly impact survival, with a median five-year survival rate of less than 14% when treated with palliative chemotherapy.3

About Zanzalintinib

Zanzalintinib is a novel oral kinase inhibitor that inhibits the activity of the TAM kinases (TYRO3, AXL, MER), MET and VEGF receptors. These kinases play important roles in oncogenic processes, including tumor cell proliferation, metastasis, angiogenesis, drug resistance and evasion of antitumor immunity. The zanzalintinib development program includes a series of ongoing and planned pivotal trials to explore its therapeutic potential in CRC, clear cell and non-clear cell renal cell carcinoma, and neuroendocrine tumors, as well as earlier-stage trials in meningioma, lung cancer and castration-resistant prostate cancer.

In February 2026, Exelixis announced that the U.S. Food and Drug Administration (FDA) accepted the company’s New Drug Application for zanzalintinib, in combination with atezolizumab (Tecentriq), for the treatment of adult patients with metastatic CRC who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, and, if RAS wild-type, an anti-epidermal growth factor receptor (EGFR) therapy. The FDA assigned a Prescription Drug User Fee Act target action date of December 3, 2026.

Zanzalintinib is an investigational agent that is not approved for any use and is the subject of ongoing clinical trials.

(Press release, Exelixis, MAY 19, 2026, https://ir.exelixis.com/news-releases/news-release-details/exelixis-announces-clinical-development-collaboration-merck [SID1234665868])

Veracyte to Participate in Upcoming Investor Conferences

On May 19, 2026 Veracyte, Inc. (Nasdaq: VCYT) reported that the company will be participating in the following investor conferences.

William Blair 46th Annual Growth Stock Conference – Chicago, IL
Presentation on Tuesday, June 2nd at 2:00 p.m. Central Time
2026 Jefferies Global Healthcare Conference – New York, NY
Fireside chat on Thursday, June 4th at 8:10 a.m. Eastern Time

Live audio webcasts of the company’s presentations will be available by visiting Veracyte’s website at View Source Replays of the webcasts will be available for 90 days after each live presentation broadcast.

(Press release, Veracyte, MAY 19, 2026, View Source [SID1234665866])

Propanc Biopharma Engages European CDMO for GMP Production of PRP for Phase 1b, FIH Study in 30 – 40 Advanced Cancer Patients

On May 19, 2026 Propanc Biopharma, Inc. (Nasdaq: PPCB) ("Propanc" or the "Company"), a biopharmaceutical company focused on developing novel treatments for chronic diseases, including recurrent and metastatic cancer, reported that a Contract and Development Manufacturing Organization (CDMO) has been engaged for the GMP manufacture of the Company’s lead asset, PRP, for the upcoming Phase 1b, First-In-Human (FIH) study in 30 – 40 advanced cancer patients suffering from solid tumors. Based in Europe, the CDMO provides end-to-end services for preclinical and clinical projects, with extensive experience in decoding biologics production (plasmid DNA and recombinant proteins) providing services of cell line generation, banking and characterization, analytical development, process development and batches production of both drug substances and drug products (decoding biologics production refers to the specialized process of understanding, optimizing, and controlling the manufacturing of complex medicines derived from living cells, such as proteins, vaccines, and monoclonal antibodies).

"After a thorough process, management are pleased to undertake this pivotal step for GMP production of PRP for the upcoming Phase 1 FIH clinical study which we plan to file the clinical trial application for later this year. Further, I am confident we have selected the right partner to execute our plan to enter early-stage clinical development, at the earliest opportunity," said Mr. James Nathanielsz, Propanc’s Chief Executive Officer. "PRP is a world first clinical study of proenzyme therapy by once weekly intravenous (IV) administration for the treatment of advanced cancer patients suffering from solid tumors. Management believes PRP is a first in class therapy which has the potential to enhance survival prospects for late-stage patients like recent clinical advancements observed with other candidates in the sector, such as KRAS inhibitors. Results from this upcoming trial can potentially be transformative for the Company, and its shareholders."

Unlike most treatment approaches which kills cancer cells directly, PRP induces differentiation so that cells return towards a normal state and die off naturally. Compassionate use data from a study published in Scientific Reports, an online Nature journal, demonstrates a significant life extension of 19 from 46 terminal patients suffering from a range of solid tumors via a fixed combination of trypsinogen and chymotrypsinogen in a suppository formulation, administered once daily, without severe, or even serious side effects observed from treatment. The planned Phase 1b study for PRP administered once weekly intravenously will be at significantly higher doses based on non-clinical safety and tolerability studies, which translates to a safe starting dose in humans. PRP achieved Orphan Drug Designation status from the US Food and Drug Administration (USFDA) for the treatment of pancreatic cancer in 2017.

(Press release, Propanc, MAY 19, 2026, View Source [SID1234665865])

Olema Oncology to Participate in Upcoming Investor Conferences

On May 19, 2026 Olema Pharmaceuticals, Inc. ("Olema" or "Olema Oncology", Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, reported that the Company will participate in the following upcoming investor conferences:

TD Cowen 7th Annual Oncology Innovation Summit
Date and Time: May 26, 2026 at 12:30 p.m. ET
Format: Fireside Chat
Location: Virtual

Jefferies Global Healthcare Conference
Date and Time: June 3, 2026 at 8:45 a.m. ET
Format: Fireside Chat
Location: New York, NY

Goldman Sachs 47th Annual Global Healthcare Conference
Date and Time: June 9, 2026 at 3:20 p.m. ET
Format: Fireside Chat
Location: Miami, FL

Live webcasts and recordings of these presentations will be available, as permitted by the event host, in the Events and Presentations section of Olema’s investor relations website at ir.olema.com.

(Press release, Olema Oncology, MAY 19, 2026, View Source [SID1234665864])

Medicenna Announces the Finalization of the Terms of its Public Offering of Securities

On May 19, 2026 Medicenna Therapeutics Corp. ("Medicenna" or the "Company") (TSX: MDNA), a clinical-stage immunotherapy company focused on the development of Superkines targeting cancer and autoimmune diseases, reported that it has finalized the terms of its previously-announced marketed underwritten public offering of securities of the Company, being an offering of units of the Company (the "Units") at a price to the public of $0.50 per Unit (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one half of one warrant of the Company (each whole warrant, a "Warrant"), each Warrant entitling the holder thereof to acquire one Common Share (a "Warrant Share") at an exercise price of $0.65 until the date that is three years following the closing date of the Offering.

Bloom Burton Securities Inc. ("Bloom Burton") is acting as sole agent for the Offering.

The Offering is expected to close on or around May 27, 2026, subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.

The Company plans to use the net proceeds of the Offering primarily to advance the clinical and regulatory development of the Company’s lead programs (including MDNA11 and MDNA113), to fund working capital and for general corporate purposes.

The Offering will be made pursuant to a prospectus supplement (the "Prospectus Supplement") to the Company’s existing short form base shelf prospectus dated June 4, 2025 (the "Base Shelf Prospectus") to be filed in British Columbia, Alberta and Ontario. The Units may also be offered in certain other jurisdictions outside of Canada, provided that a placement therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part of the Company.

The Base Shelf Prospectus is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and, upon the signing of an agency agreement between the Company and Bloom Burton, the Prospectus Supplement will be filed and available on SEDAR+ at www.sedarplus.ca.

The Common Shares comprising the Units and the Warrant Shares described above have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any U.S. state securities laws and may not be offered or sold in the "United States" (as such term is defined in Regulation S under the 1933 Act) except pursuant to an effective registration statement under the 1933 Act and applicable U.S. state securities laws or an available exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.

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

Access to the Base Shelf Prospectus, the Prospectus Supplement, and any amendments to the documents will be provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.ca. Alternatively, an electronic or paper copy of the Base Shelf Prospectus, the Prospectus Supplement (when filed), and any amendment to the documents may be obtained without charge, from Bloom Burton by email at [email protected], by telephone at 416-640-7585 or by providing the contact with an email address or address, as appliable. The Base Shelf Prospectus and the Prospectus Supplement contain important, detailed information about the Company and the Offering. Prospective investors should read the Base Shelf Prospectus and Prospectus Supplement (when filed) before making an investment decision.

(Press release, Medicenna Therapeutics, MAY 19, 2026, View Source [SID1234665863])