On February 18, 2021 Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, reported its fourth quarter 2020 results (Press release, Targovax, FEB 18, 2021, View Source [SID1234575233]).
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Targovax will host a Capital Markets Day for investors, analysts and the press at 14:30 CET today, which will include a fourth quarter update (details below).
FOURTH QUARTER HIGHLIGHTS
DATA
Announced impressive objective responses as well as effects on non-injected lesions in ONCOS-102 trial in anti-PD1 refractory melanoma patients
Demonstrated encouraging survival data for ONCOS-102 in mesothelioma
Presented an abstract on the 12-month analysis of biomarkers and clinical outcome from the phase I/II trial in malignant pleural mesothelioma at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 35th Anniversary Annual Meeting
CORPORATE
Completed a private placement, raising gross proceeds of approximately NOK 75 million (USD 8 million). The Private Placement attracted strong interest from existing shareholders and new institutional investors, both in the Nordics and internationally, and the transaction was oversubscribed multiple times
Announced grant of European Patent no 3293201 by the European Patent Office. The patent covers the use of ONCOS-102 in combination with checkpoint inhibitors until 2036
Formed a new Scientific Advisory Board (SAB), consisting of a group of world-renowned experts in immuno-oncology research and drug development carefully selected to act as advisors to guide the Targovax R&D strategy
RECENT HIGHLIGHTS
Received Fast-Track designation for ONCOS-102 in malignant pleural mesothelioma
Entered a research collaboration with Papyrus Therapeutics to develop novel ONCOS viruses with receptor tyrosine kinase (RTK) inhibitor functionality
Collaboration partner SOTIO stopped the combination trial assessing the combination of ONCOS-102 and DCVAC/PCa in prostate cancer due to slow patient recruitment. Only a very limited patient population fulfilled the strict inclusion criteria. Therefore, the recruitment could not meet originally planned numbers
Granted IOVaxis 3 months extension to the exclusive license option for TG mutant RAS vaccines in Greater China and Singapore
Øystein Soug, CEO commented: "2020 has been a special year in many aspects and the COVID-19 pandemic made quite an impact on our lives. Luckily, in Targovax we have so far been able to cope well, and 2020 brought us considerably closer to our goal of being able to bring important clinical benefit to cancer patients, and thus extend and transform their lives. Class-leading melanoma data, improved mesothelioma survival outcomes, compelling immune activation, an expanding pipeline and a rejuvenated mutant RAS program provide us with a solid platform to reach this goal. Our successes were made possible by the impressive efforts from our hard-working team, and our world leading partners."
Presentation
As a consequence of the Corona situation, there will not be a physical presentation of the results. Instead, we invite to the live Capital Markets Day webcast today at 14.30 CET. You can join the webcast here. It will be possible to ask questions during the presentation.