Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock

On September 4, 2019 Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, reported that its Board of Directors has declared a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock") (Press release, Avid Bioservices, SEP 4, 2019, View Source [SID1234539260]).

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The quarterly dividend on the Series E Preferred Stock is payable on October 1, 2019 to holders of record at the close of business on September 16, 2019.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from July 1, 2019 through September 30, 2019. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "CDMOP".

ImaginAb to Present at Upcoming Investor and Scientific Conferences in September & October 2019

On September 4, 2019 ImaginAb Inc., a clinical-stage immuno-oncology imaging company, reported that it is scheduled to attend and / or present at the following investor and scientific conferences in September and October 2019 (Press release, ImaginAb, SEP 4, 2019, View Source [SID1234539259]).

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World Molecular Imaging Congress 2019

September 4-7, 2019, Palais des congrès de Montréal, Montréal, Canada

Dr. Anna Wu, Ph.D., Founder and Chief Scientific Officer, will be attending and hosting meetings.

ESMO Congress 2019

September 27 – 1 October, 2019, Fira Gran Via, Barcelona, Spain

Dr. Anna Wu and Dr Toni Ribas, Ph.D., ImaginAb Science Advisory Board Member and President-Elect for The American Association for Cancer Research (AACR) (Free AACR Whitepaper), will be attending and hosting meetings. In addition, ImaginAb’s commercial team led by Ivan Plavec, Chief Business Officer (CBO), will be hosting meetings and available at the ImaginAb Booth #477.

Cavendish Global Conference: The 2019 Phoenix BioHealth Impact Forum

October 2-3, 2019, University Of Arizona – Phoenix Biomedical Campus, Phoenix, AZ, USA

Ian Wilson, CEO, will be attending and hosting meetings.

2nd Annual Advances in Immuno-Oncology USA Congress

October 8-9, 2019, DoubleTree by Hilton Hotel, San Diego, CA, USA

Ian Wilson, CEO, will be chairing a Panel Discussion on ‘Technological Challenges In Clinical Studies’ on October 9 at 13.30 PDT, Room 4.

Ian Wilson will also be presenting a session on ‘Insights on Reverse Translation for Patient Stratification in Clinical Studies’ on October 9 at 16.30 PDT, Room 4.

This follows CBO Ivan Plavec’s Pre-Congress Webinar on August 29, 2019, entitled ‘How CD8 Imaging Is Useful To Pharma Regarding Drug Research And Clinical Decision Making’ which is available to download here.

Optimum 11th Annual Healthcare Investor Conference

October 17, 2019, Bloomberg Headquarters, 3 Queen Victoria St, London, UK

Ian Wilson, CEO, will be attending and hosting meetings along with ImaginAb Board Director and Non-Executive Director at NICE, Tim Irish.

For further information please contact:

ImaginAb

Ian Wilson, Salli Walker
Email: [email protected]
Phone: +1 310 645 1211

Optimum Strategic Communications

Mary Clark, Supriya Mathur, Manel Mateus
Email: [email protected]
Phone: +44 20 3950 9144

Tagrisso approved in China as a 1st-line treatment for EGFR-mutated non-small cell lung cancer

On September 4, 2019 AstraZeneca reported that it has received marketing authorisation from China’s National Medical Products Administration (NMPA) for Tagrisso (osimertinib) as a 1st-line treatment for adults with locally-advanced or metastatic non-small cell lung cancer (NSCLC) whose tumours have the genetic mutations of epidermal growth factor receptor (EGFR) exon 19 deletions or exon 21 (L858R) substitutions (Press release, AstraZeneca, SEP 4, 2019, View Source [SID1234539258]).

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The approval followed the Priority Review Pathway and is based on results from the Phase III FLAURA trial, which were published in The New England Journal of Medicine.

Dave Fredrickson, Executive Vice President, Oncology, said: "The FLAURA trial has demonstrated the potential of Tagrisso as a new standard of care and as an important new 1st-line treatment option for non-small cell lung cancer patients in China, where approximately 30-40% are diagnosed with an EGFR mutation – more than any other country in the world."

In the FLAURA trial, 1st-line use of Tagrisso provided a statistically-significant and clinically- meaningful improvement in progression-free survival (PFS), increasing the time patients lived without disease progression or death by a median of 18.9 months versus 10.2 months for those taking standard EGFR tyrosine kinase inhibitor (TKI) medicines (HR 0.46 [95% CI, 0.37-0.57], p<0.0001). This benefit was consistent across all patient subgroups including those with central nervous system (CNS) metastases.

Phase III FLAURA trial efficacy results according to investigator assessment


Tagrisso

(N=279)

EGFR TKI

(gefitinib or erlotinib)

(N=277)

Progression-free survival

Median PFS

(95% confidence interval [CI])

18.9 months

(15.2, 21.4)

10.2 months

(9.6, 11.1)

Hazard ratio (95% CI)

0.46 (0.37-0.57)

P-value

P<0.0001

Response rate*

Overall response rate*

(95% CI)

77%

(71, 82)

69%

(63, 74)

Complete response

2%

1%

Partial response

75%

68%

Duration of response (DoR)*

Median DoR

(95% CI)

17.6 months

(13.8, 22.0)

9.6 months

(8.3, 11.1)

*Confirmed responses.

AstraZeneca recently announced that Tagrisso additionally showed a statistically-significant and clinically-meaningful improvement in overall survival in this patient population.

Safety data for Tagrisso in the FLAURA trial were in line with those observed in prior clinical trials. Tagrisso was generally well tolerated, with Grade 3 or higher adverse events (AEs) occurring in 34% of patients taking Tagrisso versus 45% in the comparator arm. The most common AEs in patients treated with Tagrisso were diarrhoea (58%), rash (58%), dry skin (36%), nail toxicity (35%), stomatitis (29%), fatigue (21%) and decreased appetite (20%).

Tagrisso was approved in China in March 2017 and added to the National Reimbursement Drug List (NRDL) effective from January 2019 for the 2nd-line treatment of adult patients with locally-advanced or metastatic EGFR T790M mutation-positive NSCLC, whose disease has progressed on or after EGFR-TKI therapy.

About lung cancer

Lung cancer is the leading cause of cancer death among both men and women, accounting for about one-fifth of all cancer deaths, more than breast, prostate and colorectal cancers combined.1 Lung cancer is broadly split into NSCLC and small cell lung cancer (SCLC), with 80-85% classified as NSCLC.2 Approximately 10-15% of NSCLC patients in the US and Europe, and 30-40% of patients in Asia have EGFR-mutated (EGFRm) NSCLC.3-5 These patients are particularly sensitive to treatment with EGFR-TKIs which block the cell-signalling pathways that drive the growth of tumour cells. Approximately 25% of patients with EGFRm NSCLC have brain metastases at diagnosis, increasing to approximately 40% within two years of diagnosis.6 The presence of brain metastases often reduces median survival to less than eight months in patients not treated with Tagrisso.7

About Tagrisso

Tagrisso (osimertinib) is a third-generation, irreversible EGFR-TKI designed to inhibit both EGFR-sensitising and EGFR T790M-resistance mutations, with clinical activity against CNS metastases.

Tagrisso 40mg and 80mg once-daily oral tablets have now received approval in 75 countries, including the US, Japan, China and the EU, for 1st-line EGFRm advanced NSCLC, and in 84 countries, including the US, Japan, China and the EU, for 2nd-line use in patients with EGFR T790M mutation-positive advanced NSCLC. Tagrisso is also being developed in the adjuvant setting (ADAURA trial), in the locally-advanced unresectable setting (LAURA), in combination with chemotherapy in the advanced setting (FLAURA2), and with potential new medicines, including savolitinib in the Phase II trials SAVANNAH and ORCHARD.

About FLAURA

The FLAURA trial assessed the efficacy and safety of Tagrisso 80mg orally once daily vs. comparator EGFR-TKIs (either erlotinib [150mg orally, once daily] or gefitinib [250mg orally, once daily]) in previously-untreated patients with locally-advanced or metastatic EGFRm NSCLC. The trial was double-blinded and randomised, with 556 patients across 29 countries.

About AstraZeneca in lung cancer

AstraZeneca has a comprehensive portfolio of approved and potential new medicines in late-stage clinical development for the treatment of different forms of lung cancer spanning several stages of disease, lines of therapy and modes of action. We aim to address the unmet needs of patients with EGFRm tumours as a genetic driver of disease, which occur in 10-15% of NSCLC patients in the US and EU and 30-40% of NSCLC patients in Asia, with our approved medicines Iressa (gefitinib) and Tagrisso, and ongoing Phase III trials ADAURA, LAURA, FLAURA and FLAURA2 as well as the Phase II combination trials SAVANNAH and ORCHARD.3-5

Our extensive late-stage Immuno-Oncology programme focuses on lung cancer patients without a targetable genetic mutation which represents approximately three-quarters of all patients with lung cancer.8,9 Imfinzi (durvalumab), an anti-PDL1 antibody, is in development for patients with advanced disease (Phase III trials POSEIDON, PEARL, and CASPIAN) and for patients in earlier stages of disease including potentially-curative settings (Phase III trials AEGEAN, PACIFIC-2, ADRIATIC, ADJUVANT BR.31, PACIFIC-4, and PACIFIC-5) and both as monotherapy and in combination with tremelimumab and/or chemotherapy.

About AstraZeneca in oncology

AstraZeneca has a deep-rooted heritage in oncology and offers a quickly-growing portfolio of new medicines that has the potential to transform patients’ lives and the Company’s future. With at least six new medicines to be launched between 2014 and 2020, and a broad pipeline of small molecules and biologics in development, the Company is committed to advance oncology as a key growth driver for AstraZeneca focused on lung, ovarian, breast and blood cancers. In addition to AstraZeneca’s main capabilities, the Company is actively pursuing innovative partnerships and investment that accelerate the delivery of our strategy, as illustrated by the investment in Acerta Pharma in haematology.

By harnessing the power of four scientific platforms – Immuno-Oncology, Tumour Drivers and Resistance, DNA Damage Response and Antibody Drug Conjugates – and by championing the development of personalised combinations, AstraZeneca has the vision to redefine cancer treatment and, one day, eliminate cancer as a cause of death.

Chugai Launches Rozlytrek, an Anticancer Agent for the Treatment of NTRK Fusion-Positive Solid Tumors

On September 4, 2019 Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519) reported the launch of Rozlytrek capsules 100 mg and 200 mg (generic name: entrectinib) (hereafter, Rozlytrek), an anticancer agent/tyrosine kinase inhibitor, for the treatment of NTRK fusion-positive advanced or recurrent solid tumors (Press release, Chugai, SEP 4, 2019, View Source [SID1234539257]). Rozlytrek received manufacturing and marketing approval on June 18, 2019 and was listed on the National Health Insurance (NHI) reimbursement price list on September 4.

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"We are very pleased that we can now provide Rozlytrek to patients as the first drug for the treatment of NTRK fusion-positive solid tumors in Japan," said Dr. Osamu Okuda, Chugai’s Executive Vice President, Co-Head of Project & Lifecycle Management Unit. "Rozlytrek is a drug that embodies advanced personalized healthcare as it has been approved to treat solid tumors with rare gene fusions regardless of their site of origin. We will continue to take every measures to provide proper information to ensure the safe use of Rozlytrek."

Rozlytrek is a drug that will realize the advance in personalized healthcare, which is one of the goals set by Chugai. After receiving Sakigake designation from the Ministry of Health, Labour and Welfare (MHLW) for NTRK fusion-positive advanced/recurrent solid tumors with extremely rare gene mutation, Chugai obtained the world’s first regulatory approval for Rozlytrek in Japan on June 18, 2019. Rozlytrek is the first drug approved in Japan for the treatment of NTRK fusion-positive solid tumors as a tumor agnostic treatment in both adult and pediatric patients. In other countries, Rozlytrek has been granted Breakthrough Therapy designation by the U.S. Food and Drug Administration (FDA) and was approved for the treatment of NTRK fusion-positive solid tumors on August 15, 2019. The European Medicines Agency (EMA) has designated Rozlytrek as PRIority MEdicines (PRIME).

For Biomarker testing of NTRK gene fusions, Chugai obtained approval of FoundationOne CDx Cancer Genomic Profile as a companion diagnostic for Rozlytrek by the MHLW on June 26, 2019.

As a leading company in the field of oncology, Chugai will regard Rozlytrek as the drug to realize advanced personalized healthcare in oncology and contribute to patients and healthcare professionals through the promotion of its appropriate use.

[Reference information]
Media release issued by Chugai on June 18, 2019
Title: Anti-Cancer Agent Rozlytrek, Approved for the Treatment of NTRK Fusion Gene Positive Advanced/Recurrent Solid Tumors View Source

Media release issued by Roche on August 16, 2019
Title: FDA approves Roche’s Rozlytrek (entrectinib) for people with ROS1-positive, metastatic non-small cell lung cancer and NTRK gene fusion-positive solid tumours
View Source

Drug Information

Product name:
Rozlytrek Capsules 100 mg
Rozlytrek Capsules 200 mg

Nonproprietary name: Entrectinib

Indications: Neurotrophic tyrosine receptor kinase (NTRK) fusion-positive advanced or recurrent solid tumors

Dosage and administration:
The usual adult dosage is 600 mg entrectinib administered orally once a day. Reduce the dose as necessary depending on the patient’s condition.
The usual pediatric dosage is 300 mg/m2 (body surface area) entrectinib administered orally once a day. However, the dose should not exceed 600 mg. Reduce the dose as necessary depending on the patient’s condition.

Dose for pediatric patients (300 mg/m2 administered orally once a day)

Body surface area (m2) Dose (once a day)
0.43-0.50 100 mg
0.51-0.80 200 mg
0.81-1.10 300 mg
1.11-1.50 400 mg
≧1.51 600 mg
Date of approval: June 18, 2019

Date of NHI reimbursement price listing: September 4, 2019

Date of launch: September 4, 2019

Shelf life: 24 months

Approval conditions:
1. A drug risk management plan is to be prepared and appropriately implemented.
2. Given that the number of patients in clinical studies in Japan was extremely limited, postmarketing drug use surveillance of all patients receiving ROZLYTREK should be conducted until data for a certain number of patients have been accumulated, in order to understand background information on patients receiving ROZLYTREK, collect early data on the safety and efficacy of ROZLYTREK, and take necessary measures for appropriate use of ROZLYTREK.

Drug price:
Rozlytrek Capsules 100 mg JPY 5,214.20/Capsule
Rozlytrek Capsules 200 mg JPY 9,889.90/Capsule

PRA Health Sciences, Inc. Announces $500 Million Share Repurchase Program

On September 4 , 2019 PRA Health Sciences, Inc. (the "Company") (NASDAQ: PRAH) reported that its Board of Directors (the "Board") has authorized a $500 million share repurchase program, effective immediately (Press release, PRA Health Sciences, SEP 4, 2019, View Source [SID1234539256]).

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Under the program, the Company is authorized to repurchase shares of its common stock through open market purchases, privately-negotiated transactions, secondary offerings, block trades or otherwise in accordance with all applicable securities laws and regulations, including through trading plans complying with the rules and regulations of the Securities and Exchange Commission (the "SEC"). The repurchase program expires on December 31, 2021.

In addition, the Company announced that, subject to the completion of the announced underwritten secondary offering of the Company’s common stock by KKR PRA Investors L.P. (the "Selling Stockholder"), it intends to repurchase from the underwriter in such offering, out of the 6,666,684 shares of common stock, a number of shares having an aggregate purchase price of $300 million at a price per share equal to the price at which the underwriter will purchase the shares from the Selling Stockholder. The closing of such share repurchase is conditioned on, and expected to occur simultaneously with, the closing of the secondary offering, subject to the satisfaction of other customary conditions. The Company intends to fund such share repurchase with the proceeds of a $300 million incremental term loan under its existing credit facilities. Following the completion of such share repurchase, the Company will have approximately $200 million of remaining availability under the share repurchase program.

Future repurchases under the Company’s share repurchase program will be funded by available liquidity, including available cash or borrowings under existing or future credit facilities. The share repurchase program does not obligate the Company to repurchase any particular amount of its common stock, and it may be modified, suspended or terminated at any time at the Board’s discretion. The timing and amount of any purchases of common stock will be based on the Company’s liquidity, general business and market conditions, debt covenant restrictions and other factors, including alternative investment opportunities.

Contact:

PRA Health Sciences, Inc.

Laurie Hurst

Director, Communications and Public Relations

919-786-8435

[email protected]

Mike Bonello

Chief Financial Officer

919-786-8270

[email protected]