Entry into a Material Definitive Agreement

On February 10, 2022, Twist Bioscience Corporation (the "Company") reported that entered into an underwriting agreement (the "Underwriting Agreement") with J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and Cowen and Company LLC, as the representatives of the several underwriters named therein (collectively, the "Underwriters"), pursuant to which the Company agreed to issue and sell an aggregate of 5,227,272 shares of its common stock, including 681,818 shares pursuant to an option granted to the Underwriters to purchase such additional shares that was exercised in full (collectively, the "Shares"), to the Underwriters (the "Offering") (Filing, 8-K, Twist Bioscience, FEB 10, 2022, View Source [SID1234608109]). The Shares will be sold to the Underwriters at a public offering price of $55.00 per share, less the underwriting discount and commissions. The Underwriting Agreement contains customary representations and warranties, conditions to closing, market standoff provisions, termination provisions and indemnification obligations, including for liabilities under the Securities Act of 1933, as amended.

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The Offering is being made pursuant to the Company’s registration statement on Form S-3 (Registration No. 333-238906), which was filed with the Securities and Exchange Commission (the "SEC") on June 3, 2020, and the prospectus supplement dated February 10, 2022 filed by the Company with the SEC. The Offering is scheduled to close on or about February 15, 2022, subject to customary closing conditions.

FDA Advisory Committee Votes to Recommend Additional Data for Sintilimab Submission

On February 10, 2022 Innovent Biologics reported that The U.S. Food and Drug Administration (FDA) held a public Oncology Drug Advisory Committee (ODAC) for sintilimab, which is under review for the first-line treatment of people with non-squamous non-small cell lung cancer (nsqNSCLC) based on the ORIENT-11 trial conducted exclusively in China (Press release, Innovent Biologics, FEB 10, 2022, View Source [SID1234608050]). On the single voting question, the advisory committee voted that additional clinical trial(s) should be required to demonstrate applicability to the U.S. population and U.S. medical practice prior to a final regulatory decision. Sintilimab is a novel PD-1 inhibitor being developed and commercialized under a collaboration agreement between Innovent and Lilly.

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"We appreciate this opportunity to share our data of ORIENT-11 with FDA and the advisory committee. While conducted in China, ORIENT-11 was well designed and conducted in compliance with ICH GCP standards. The data of sintilimab generated from ORIENT-11 has suggested a positive risk and benefit profile, with no safety issue identified by the FDA." said Dr. Yongjun Liu, President of Innovent. "While we are disappointed by the ODAC outcome, we together with Lilly will continue to work with FDA as the agency completes its review of our BLA application. We remain confident in the value of sintilimab, and the interaction with FDA will help us to pave the way to advance our exciting pipeline and globally develop innovative medicines for patients around the world."

"While we are disappointed with the outcome of today’s ODAC as it relates to the investigational product sintilimab, we appreciated the opportunity to publicly discuss the application and broader issues related to single-country clinical trials," said Jacob Van Naarden, President, Lilly Oncology. "Along with Innovent, we will continue to work with the FDA as it completes its review of the sintilimab application."

The ODAC provides the FDA with independent advice and recommendations from outside experts on marketed and investigational medicines for use in the treatment of cancer. The FDA will consider the vote as it reviews the application and is not bound by the committee’s guidance. Innovent and Lilly will continue to work closely with the agency as they complete their review of the application.

About the ORIENT-11 Trial

ORIENT-11 is a randomized, double-blind, Phase 3 clinical trial conducted in China assessing the efficacy and safety of sintilimab in combination with pemetrexed and platinum chemotherapy compared to placebo in combination with pemetrexed and platinum chemotherapy as a first-line treatment for patients with advanced or metastatic nonsquamous non-small cell lung cancer (nsqNSCLC), with no sensitizing EGFR mutations or ALK rearrangements. The primary endpoint is progression-free survival (PFS) as assessed by Independent Radiographic Review Committee (IRRC) based on RECIST v1.1., and secondary endpoints include overall survival (OS), ORR and safety profile.

A total of 397 patients were enrolled and randomized 2:1 to receive either sintilimab injection 200mg or placebo in combination with pemetrexed and platinum chemotherapy every three weeks for up to four cycles, followed by either sintilimab injection or placebo plus pemetrexed maintenance therapy. Patients received treatment until radiographic disease progression, unacceptable toxicity or any other conditions that required treatment discontinuation. Conditional crossover was permitted. The results of the ORIENT-11 study were published in 2020.

About Lung Cancer

Globally, lung cancer is the leading cause of cancer death, killing nearly 1.8 million people worldwide each year.[i] In the U.S., lung cancer is the second most common cancer (not counting skin cancer) and the leading cause of cancer death, responsible for nearly 25 percent of all cancer deaths – more than those from colorectal, breast and prostate cancers combined.[ii] Non-small cell lung cancer (NSCLC) accounts for approximately 85 percent of all lung cancers, and about 70 percent of those with NSCLC have the nonsquamous subtype.[iii] Fifty percent of NSCLC patients present with advanced or metastatic disease at diagnosis.[iv]

About Sintilimab

Sintilimab, marketed as TYVYT (sintilimab injection) in China, is an innovative PD-1 inhibitor with global quality standards jointly developed by Innovent and Lilly. Sintilimab is a type of immunoglobulin G4 monoclonal antibody, which binds to PD-1 molecules on the surface of T-cells, blocks the PD-1 / PD-Ligand 1 (PD-L1) pathway, and reactivates T-cells to kill cancer cells. Innovent is currently conducting more than 20 clinical studies of sintilimab to evaluate its safety and efficacy in a wide variety of cancer indications, including more than 10 registrational or pivotal clinical trials.

In China, sintilimab has been approved and included in the National Reimbursement Drug List (NRDL) for four indications, including:

The treatment of relapsed or refractory classic Hodgkin’s lymphoma after two lines or later of systemic chemotherapy;
In combination with pemetrexed and platinum chemotherapy, for the first-line treatment of non-squamous non-small cell lung cancer;
In combination with gemcitabine and platinum chemotherapy, for the first-line treatment of squamous non-small cell lung cancer;
In combination with bevacizumab biosimilar for the first-line treatment of unresectable or advanced hepatocellular carcinoma.
Additionally, Innovent currently has three regulatory submissions under review in China’s NMPAfor sintilimab:

In combination with cisplatin plus paclitaxel or cisplatin plus 5-fluorouracil for the first-line treatment of esophageal squamous cell carcinoma;
In combination with chemotherapy for the first-line treatment of unresectable, locally advanced, recurrent or metastatic gastric or gastroesophageal junction adenocarcinoma;
In combination with bevacizumab biosimilar and chemotherapy for EGFR-mutated non-squamous NSCLC following EGFR-TKI treatment.
Additionally, two clinical studies of sintilimab have met their primary endpoints:

Phase 2 study as second-line treatment of esophageal squamous cell carcinoma;
Phase 3 study as second-line treatment for squamous NSCLC with disease progression following platinum-based chemotherapy.

Celldex to Present at the 11th Annual SVB Leerink Global Healthcare Conference

On February 10, 2022 Celldex Therapeutics, Inc. (NASDAQ:CLDX) reported that senior management will participate in a virtual fireside chat at the 11th Annual SVB Leerink Global Healthcare Conference on Wednesday, February 16, 2022 at 1:00 p.m. ET (Press release, Celldex Therapeutics, FEB 10, 2022, View Source [SID1234608034]).

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A webcast of the presentation will be available on the "Events & Presentations"(opens in a new tab) page of the "Investors & Media"(opens in a new tab) section of the Celldex website. A replay will be available for 30 days following the event.

Prothena to Report Fourth Quarter and Full Year 2021 Financial Results and Host Webcast Conference Call on February 17, 2022

On February 10, 2022 Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, reported that it will report its fourth quarter and full year 2021 financial results on Thursday, February 17, 2022 after the close of the U.S. financial markets (Press release, Prothena, FEB 10, 2022, View Source [SID1234608033]). The announcement will be followed by a live audio conference call at 4:30 PM ET.

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The conference call will be made available on the Company’s website at www.prothena.com under the Investors tab in the Events and Presentations section. Following the live audio webcast, a replay will be available on the Company’s website for at least 90 days.

To access the call via dial-in, please dial (888) 440-6385 (U.S. and Canada toll free) or +1 00 646-960-0180 (international) five minutes prior to the start time and refer to conference ID number 92750. A replay of the call will be available until March 3, 2022 via dial-in at (800) 770-2030 (U.S. toll free) or +00 1 647 362-9199 (international), Conference ID Number 92750.

Beyond Air® Reports Financial Results for the Third Quarter of Fiscal Year 2022

On February 10, 2022 Beyond Air, Inc. (NASDAQ: XAIR), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled nitric oxide (NO) for the treatment of patients with respiratory conditions, including serious lung infections and pulmonary hypertension and, through its affiliate Beyond Cancer, ultra-high concentration nitric oxide (UNO) for the treatment of solid tumors, reported financial results for its third fiscal quarter ended December 31, 2021 (Press release, Beyond Air, FEB 10, 2022, View Source [SID1234608032]).

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Steve Lisi, Chairman and Chief Executive Officer of Beyond Air, commented, "The Beyond Air team continues to maintain a collaborative relationship with FDA to work towards the approval of LungFit PH for the treatment of persistent pulmonary hypertension of the newborn, or PPHN, in the United States. Our goal remains to bring this groundbreaking therapy to the market as soon as possible, which we now anticipate being in the first half of this year. With our strong cash balance of $54.5 million, exclusive of Beyond Cancer cash, we are in a favorable position for commercial launch of LungFit PH, pending approval. In Europe, we are on track to receive CE Mark in the first half of calendar year 2022 as well and will look to partner the program internationally later in the year."

"I am happy to report progress in our other programs under the leadership of our new Chief Medical Officer, Dr. Andrew Colin," continued Mr. Lisi. "Notably, we will be presenting additional safety and efficacy data from our community-acquired viral pneumonia (CAVP), including COVID-19, pilot study at ECCMID in April of this year. Recall, we presented an interim analysis of 19 COVID-19 patients at ATS 2021 in May, where 150 PPM NO was well tolerated and showed encouraging efficacy signals in adult hospitalized patients. Despite COVID-related lockdowns in Australia, we expect to present efficacy and safety data from our NTM pilot study using LungFit GO to deliver up to 250 ppm NO in the home setting at the American Thoracic Society conference in May of this year. Finally, our private oncology affiliate is on track to begin enrolling patients for a first in human study for UNO therapy in solid tumors in the first half of this year."

Recent Highlights and Upcoming Milestones

•LungFit PH
•Commercial launch for PPHN in the United States expected in the first half of calendar year 2022, pending U.S. FDA PMA approval
•CE Mark approval anticipated in the first half of calendar year 2022 with an international commercial partnership expected to follow later in the year

•LungFit PRO
Community-Acquired Viral Pneumonia (CAVP) Data (including COVID-19)
•Abstract for ongoing pilot study for 150 PPM NO delivered to adult hospitalized CAVP patients accepted for presentation at the 32nd European Congress of Clinical Microbiology and Infectious Disease being held April 23 – 26, 2022 in Lisbon, Portugal
Upcoming Study
•Plan on initiating a US trial for patients hospitalized with viral lung infections in the fourth quarter of calendar year 2022 (pending discussion with FDA and pandemic permitting)

•LungFit GO
•Abstract for ongoing pilot study for 250 PPM NO self-administered by refractory NTM lung infection patients in the home-setting accepted for presentation at the American Thoracic Society (ATS) 2022 International Conference being held from May 13 – 18, 2022 in San Francisco, CA
•Anticipate beginning a pilot study in severe exacerbations due to lung infections in COPD patients in 2022 or 2023

•Beyond Cancer’s Solid Tumor Program
•Raised $30 million to form private oncology affiliate Beyond Cancer that will leverage Beyond Air’s NO experience and accelerate and enhance the solid tumor pipeline. Beyond Air retained an 80% equity ownership
•On track to begin the enrollment of patients in first in human studies in the first half of calendar year 2022
•Two abstracts accepted for poster presentation at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2022 in New Orleans, Louisiana being held from April 8 – 13, 2022
•Completed six-member Board of Directors with the agreement to serve of David C. Dvorak, former President and CEO of Zimmer Biomet Holdings and current Chairman and CEO of Deep Think Health, and Dr. Greg Berk, currently serving as the Interim CEO, President of Research & Development and CMO of GT Biopharma
Financial results for the fiscal quarter ended December 31, 2021

Revenue for the fiscal quarter ended December 31, 2021 was $0 as compared to $0.1 million for the fiscal quarter ended December 31, 2020, all of which was licensing revenue.

Research and development expenses for the fiscal quarter ended December 31, 2021 were $2.5 million, compared to $3.3 million for the fiscal quarter ended December 31, 2020.

General and administrative expenses for the fiscal quarter ended December 31, 2021 were $4.9 million, compared to $2.5 million for the fiscal quarter ended December 31, 2020.

Other income and expense for the fiscal quarter ended December 31, 2021 was a loss of $0.5 million.

For the fiscal quarter ended December 31, 2021, the Company had a net loss of $8.0 million of which $7.7m or ($0.29) per share was attributable to the shareholders of Beyond Air, compared to a net loss of $5.8 million, or ($0.33) per share for the fiscal quarter ended December 31, 2020.

As of December 31, 2021, the Company had cash and cash equivalents of $83.5 million.