Merck to acquire investigational B-cell depletion therapy, CN201, from Curon Biopharmaceutical
- Merck will acquire CN201, a bispecific antibody for B-cell associated diseases, from Curon Biopharmaceutical.
- The deal includes an upfront payment of $700 million and up to $600 million in milestone payments.
- CN201 is in Phase 1 and Phase 1b/2 trials for relapsed/refractory non-Hodgkin’s lymphoma and B-cell acute lymphocytic leukemia.
- The transaction is expected to close in Q3 2024, pending regulatory approval.
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Abzena supplies clinical trial material for Angiex's phase I study of AGX101
- Angiex has begun patient dosing for their Phase 1 clinical trial of AGX101, a TM4SF1-directed ADC.
- AGX101 targets cancer cells and tumor vasculature with three mechanisms of action: eliminating tumor blood vessels, killing invasive tumor cells, and directing the immune system to attack cancer.
- Abzena supported the development, manufacture, and supply of clinical trial material, including linker-payload design, bioconjugation, process development, and cGMP manufacturing.
- The Phase 1 study is an open-label, dose-escalation, and expansion study to assess safety, pharmacokinetics, pharmacodynamics, and preliminary anti-tumor activity of AGX101.
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Iovance Biotherapeutics reports financial results and corporate updates for second quarter and first half 2024
- Iovance reported $31.1 million in total product revenue for 2Q24, with Amtagvi contributing $12.8 million.
- Revenue guidance for 3Q24 is $53-$55 million, FY24 is $160-$165 million, and FY25 is $450-$475 million.
- The U.S. FDA approved Amtagvi in February 2024 for advanced melanoma, with over 55 patients infused since launch.
- Iovance submitted a marketing authorization application to the European Medicines Agency for lifileucel.
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Bioatla reports second quarter 2024 financial results and highlights recent progress
- Ozuriftamab vedotin granted Fast Track Designation by FDA for SCCHN; FDA meeting anticipated in 2H 2024.
- Evalstotug showed low incidence and severity of immune-related adverse events in Phase 1 and 2 studies; Phase 2 combination with pembrolizumab continues to enroll.
- Mecbotamab vedotin Phase 2 trial in NSCLC showed improved overall survival in patients with mutated KRAS variants.
- Current cash balance projected to fund operations through Q3 2025, supporting multiple clinical readouts and strategic collaborations.
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Ikena Oncology reports second quarter 2024 financial results
- Ikena Oncology has $145 million in cash and investments as of June 30, 2024.
- Phase 1 study of IK-595 in RAS and RAF mutant cancers shows promising early PK and PD activity.
- The company discontinued the IK-930 clinical program in May 2024.
- Ikena implemented a 53% workforce reduction and appointed Jotin Marango as COO in July 2024.
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ALX Oncology reports second quarter 2024 financial results and provides corporate update
- ALX Oncology reported topline data from the ASPEN-06 Phase 2 clinical trial, showing evorpacept improved tumor response in HER2-positive gastric/GEJ cancer.
- The ASPEN-07 Phase 1 trial demonstrated promising activity of evorpacept in combination with PADCEV in advanced urothelial cancer.
- ALX Oncology initiated a Phase 2 trial of evorpacept with KEYTRUDA in HPV-mediated oropharyngeal cancer.
- Financially, ALX Oncology reported a net loss of $39.4 million for Q2 2024, with cash and investments totaling $186.2 million as of June 30, 2024.
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Recursion provides business updates and reports second quarter 2024 financial results
- Recursion entered into a definitive agreement to combine with Exscientia, enhancing its clinical pipeline and precision chemistry capabilities.
- The combined company expects approximately 10 clinical trial readouts over the next 18 months.
- The first neuroscience phenomap under Recursion’s collaboration with Roche and Genentech has been optioned, triggering a $30 million payment.
- Recursion reported a net loss of $97.5 million for Q2 2024, with cash and cash equivalents totaling $474.3 million as of June 30, 2024.
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Kura Oncology reports second quarter 2024 financial results
- Topline data from the registration-directed trial of ziftomenib in R/R NPM1-mutant AML expected in early 2025.
- Breakthrough Therapy Designation granted for ziftomenib in R/R NPM1-mutant AML.
- Data from 100 patients in KOMET-007 trial of ziftomenib in combination with ven/aza and 7+3 expected in Q4 2024.
- IND application cleared for ziftomenib in GIST; proof-of-concept study to begin in early 2025.
- First patient dosed in study of KO-2806 and adagrasib in KRASG12C-mutated NSCLC.
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Organogenesis Holdings Inc. reports second quarter 2024 financial results
- Net revenue for Q2 2024 was $130.2 million, an 11% increase from Q2 2023.
- Advanced Wound Care products saw a 12% revenue increase, while Surgical & Sports Medicine products saw a 3% decrease.
- Net loss for Q2 2024 was $17.0 million, compared to a net income of $5.3 million in Q2 2023.
- Adjusted EBITDA for Q2 2024 was $15.6 million, a slight increase from $15.4 million in Q2 2023.
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Verastem Oncology reports second quarter 2024 financial results and highlights recent business updates
- Initiated rolling NDA submission for avutometinib and defactinib combination in recurrent KRAS mutant low-grade serous ovarian cancer (LGSOC).
- Presented positive interim results from the RAMP 201 trial and ongoing first-line metastatic pancreatic cancer trial.
- Expect to complete NDA submission with mature data from RAMP 201 trial in H2 2024.
- Raised $51.1 million in a public offering and received a $10 million milestone payment from Secura Bio.
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