Tarveda Therapeutics Publishes Results of Preclinical Studies Evaluating PEN-221 as a Treatment for Small Cell Lung Cancer in Molecular Cancer Therapeutics

On October 24, 2019 Tarveda Therapeutics, Inc., a clinical stage biopharmaceutical company discovering and developing a new class of potent and selective precision oncology medicines for the treatment of patients with a wide range of solid tumor malignancies, reported the publication of several preclinical studies evaluating PEN-221 as a novel therapeutic for the treatment of small cell lung cancer (SCLC) (Press release, Tarveda Therapeutics, OCT 24, 2019, View Source [SID1234542504]). The publication, "Targeting the Somatostatin Receptor 2 with the Miniaturized Drug Conjugate, PEN-221: A Potent and Novel Therapeutic for the Treatment of Small Cell Lung Cancer," was published in Molecular Cancer Therapeutics, a journal of the American Association for Cancer Research (AACR) (Free AACR Whitepaper).

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PEN-221 is a miniature drug conjugate comprising a peptide that is highly selective for somatostatin receptor 2 (SSTR2) conjugated to the potent tubulin inhibitor payload, DM1, via a tuned cleavable linker. SSTR2 is overexpressed on the surface of cancer cells in patients with a range of solid tumors including SCLC and neuroendocrine cancers.

"These studies demonstrate that the unique attributes of our PEN-221 miniature drug conjugate allow for deep tumor penetration, while limiting plasma and normal tissue exposure. We engineered PEN-221 to have these attributes in order to enable long-term dosing of our conjugate and cause durable tumor control, as was demonstrated in our published studies," said Mark Bilodeau, Chief Scientific Officer of Tarveda.

The publication shows a series of mouse xenograft efficacy studies where PEN‑221 treatment resulted in significant antitumor activity, including enduring and complete regressions in multiple SSTR2 positive SCLC models. PEN-221 treatment of SSTR2 positive SCLC xenograft tumors also showed potent and durable tumor inhibition superior to the currently used standard of care treatment for SCLC.

Additional studies elucidated how PEN-221 causes cell cycle arrest and tumor cell death. Mouse xenograft models demonstrated how the unique miniature conjugate structure of PEN-221 allows deep penetration into the tumor causing mitotic arrest while rapidly and durably delivering DM1, the toxic payload, into the tumor. The relatively short plasma exposure of PEN-221 and its DM1 payload limits damage to normal tissue, and PEN-221 was well tolerated in our Phase 1 study, which was presented at ASCO (Free ASCO Whitepaper) 2018.

Together, these results show that the unique attributes of PEN-221, including deep tumor penetration, rapid delivery of its toxic payload and limited exposure to normal cells may potentially offer distinct advantages in treating SCLC and GI neuroendocrine cancers compared to current therapeutic options.

"Based on the encouraging results from these studies, we initiated a Phase 1/2a clinical trial of PEN-221 in patients with a focus on both gastrointestinal neuroendocrine tumors and small cell lung cancer," said Jeffrey D. Bloss, Chief Medical Officer of Tarveda. "The Phase 1 portion of the study showed that PEN-221 was well tolerated with evidence of antitumor activity seen in multiple patients. We were encouraged by these results and initiated the Phase 2a portion of the study, which is currently enrolling patients with results expected in 2020."

About Small Cell Lung Cancer
Small cell lung cancer (SCLC) accounts for approximately 13% of all lung cancers in the U.S. with few new recent therapeutic options available despite over 60 agents that have been investigated in clinical trials. SCLC is an aggressive disease that spreads quickly and most patients with SCLC experience rapid disease progression before symptoms appear, resulting in about 7% survival at five years. In addition to the lack of early symptoms, the lack of early detection reduces the chances for an optimal therapeutic response.

About PEN-221
PEN-221 is a miniature drug conjugate consisting of a peptide ligand, that is highly selective in targeting SSTR2, joined through a cleavable linker to the potent cytotoxic payload DM1. SSTR2 is overexpressed on the cell surface of a range of solid tumors including neuroendocrine tumors and small cell lung cancer. In non-clinical experiments, PEN-221 binds with high affinity and selectivity to SSTR2. On binding, PEN-221 triggers SSTR2 internalization resulting in the accumulation of the DM1 payload in tumor cells followed by cell cycle arrest and apoptosis.

PEN-221 is being evaluated in Phase 2a expansion cohorts currently enrolling patients with midgut neuroendocrine tumors and small cell lung cancer (ClinicalTrials.gov Identifier: NCT02936323).

BioXcel Therapeutics to Present at the 26th Annual Prostate Cancer Foundation Scientific Retreat

On October 24, 2019 BioXcel Therapeutics, Inc. ("BTI" or the "Company") (Nasdaq: BTAI), a clinical-stage biopharmaceutical development company utilizing novel artificial intelligence approaches to identify and advance the next wave of medicines in neuroscience and immuno-oncology, reported that BTI’s Senior Vice President and Chief Medical Officer, Vincent O’Neill, M.D., will present the first clinical results on the safety and tolerability of BXCL701, an investigational orally available innate immunity activator, in combination with a PD-1 inhibitor (Press release, BioXcel Therapeutics, OCT 24, 2019, View Source [SID1234542503]). Data from the first patient cohort will be presented from the Company’s ongoing Phase 1b/2 study. A second patient cohort is enrolling and the Company expects to report on these additional safety findings by end of year before advancing to the Phase 2 stage of the trial.

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The study is designed to evaluate BXCL701 in combination with Pembrolizumab (Keytruda) for treatment-Emergent Neuroendocrine Prostate Cancer (tNEPC). The data will be presented during the 26th Annual Prostate Cancer Foundation Scientific Retreat that is being held from October 23 – 26, 2019.

Oral Presentation Details:

Title:

"BXCL701, An Orally Available Innate Immune Activator, in
Combination with Pembrolizumab for Patients with NEPC (NEPC; SCPC)"

Date:

Saturday, October 26th

Time:

8:30 a.m. – 8:45 a.m. Pacific Time

Location:

Omni La Costa Resort, Carlsbad, CA

A copy of the Company’s accompanying presentation materials that will be discussed will be available through the "Investors" page of the BTI website at View Source

About BXCL701:

BXCL701 is an investigational orally-available systemic innate immunity activator with dual mechanisms of action. It has shown single agent activity in melanoma and safety has been evaluated in more than 700 healthy subjects and cancer patients. Designed to stimulate both the innate and acquired immune systems, BXCL701 is designed to inhibit dipeptidyl peptidase (DPP) 8/9 and block immune evasion by targeting Fibroblast Activation Protein (FAP). BXCL701 is currently being developed for treatment of a rare form of prostate cancer and for pancreatic cancer in combination with other immuno-oncology agents.

Compass Therapeutics to Present Preclinical Data on a Novel PD-1/PD-L1 Bispecific Antibody and from its Proprietary Innate Cell Engager Platform at the 2019 SITC Meeting

On October 24, 2019 Compass Therapeutics, a clinical-stage biotechnology company focused on drugging the human immune synapse to treat human diseases, reported two upcoming poster presentations at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 2019 Annual Meeting, which is being held November 6-10 in National Harbor, MD (Press release, Compass Therapeutics, OCT 24, 2019, View Source [SID1234542502]).

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The first poster will show recent data on CTX-8371, a novel bispecific antibody targeting the inhibitory receptor PD-1 and its ligand, PD-L1. CTX-8371 was discovered in an unbiased screen of checkpoint bispecifics using Compass’s proprietary StitchMabsTM technology. CTX- 8371 demonstrates significantly increased potency in vitro and in vivo compared to combinations of monoclonals blocking PD-1 and PD-L1. Mechanistic studies of CTX-8371 suggest that the enhanced potency is associated with its unique ability to drive PD-1 downregulation from the surface of effector T cells.

The second poster presentation describes Compass’s innate-cell engager platform. Leveraging its common light-chain technology, Compass has developed a series of bispecific antibodies that simultaneously engage tumor associated antigens and the activating receptor NKp30 expressed on NK cells and other innate effector cells to promote potent and highly selective tumor cell killing.

Full details of the presentations are as follows:

Poster title: CTX-8371, a novel bispecific targeting both PD-1 and PD-L1, is more potent than combination anti-PD-1 and PD-L1 therapy and provides enhanced protection from tumors in vivo
Abstract ID: P251
Date & time: Friday, Nov. 8, 7:00 am – 8:00 pm ET
Location: Poster Hall (Prince George AB), Gaylord National Hotel & Convention Center, National Harbor, Md.

Poster title: A novel class of multi-specific antibodies targeting NKp30 on innate immune cells
Abstract ID: P7770
Date & time: Saturday, Nov. 9, 7:00 am – 8:00 pm ET
Location: Poster Hall (Prince George AB), Gaylord National Hotel & Convention Center, National Harbor, Md.

Baxter Reports Preliminary Third Quarter 2019 Operating Results

On October 24, 2019 Baxter International Inc. (NYSE:BAX), a leading global medical products company, reported certain preliminary operating results for the quarter ended September 30, 2019 (Press release, Baxter International, OCT 24, 2019, View Source [SID1234542501]). Baxter further indicated that the Company is investigating misstatements in previously reported non-operating income. The internal investigation is described in further detail below.

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"Our strong preliminary operating results reflect the positive impact of Baxter’s ongoing transformation, commitment to innovation and continued operational excellence," said José (Joe) E. Almeida, chairman and chief executive officer. "While the Company is working diligently and expeditiously to address the non-operating related accounting issue, Baxter’s 50,000 employees remain intently focused on our Mission to Save and Sustain lives as well as executing on our strategy to deliver top quartile performance for all stakeholders."

Preliminary Third Quarter Operating Results

Worldwide sales in the third quarter totaled approximately $2.85 billion, an increase of 3% on a reported basis, and 5% on both a constant currency and operational basis. Operational sales exclude the impact of foreign exchange and generic competition for U.S. cyclophosphamide.

Sales in the U.S. totaled $1.2 billion and International sales totaled $1.6 billion. All Baxter geographic regions contributed to positive sales performance in the quarter. Sales in the Americas were $1.5 billion, sales in Europe, Middle East and Africa (EMEA) were $730 million, and sales in Asia Pacific (APAC) were $587 million.

Key performance drivers in the third quarter included strong sales of Baxter’s peritoneal dialysis (PD) and continuous renal replacement therapies (CRRT), intravenous (IV) infusion systems and solutions, hemostats and sealants, and certain generic injectable pharmaceuticals. In addition, increased international demand for Baxter’s hospital pharmacy compounding services contributed to the strong performance in the quarter. As expected, revenues were partially offset by lower U.S. sales of Brevibloc and in-center hemodialysis (ICHD) products.

Please see the attached schedules accompanying this press release for additional details on performance in the quarter, including sales by Baxter’s six global business units.

Baxter reported operating income of $503 million for the third quarter. This includes special items totaling $52 million, primarily related to intangible asset amortization and business optimization initiatives, partially offset by insurance recoveries related to the impact of Hurricane Maria. On an adjusted basis, Baxter’s third quarter operating income totaled $555 million, or 19.5% of sales, reflecting strong revenues and solid operational performance.

Business Highlights2

Baxter continues to achieve significant milestones in pursuit of its Mission for patients and emphasis on accelerating profitable growth. Among recent highlights, the Company:

Initiated the U.S. and Canadian launches of Baxter’s next-generation PrisMax system for continuous renal replacement therapy (CRRT) and therapeutic plasma exchange (TPE). Among many advanced features, PrisMax incorporates TrueVue Analytics, Baxter’s proprietary data and analytics platform.
Announced the agreement to acquire Cheetah Medical, a leading provider of non-invasive hemodynamic monitoring technologies. Once completed, this acquisition will accelerate Baxter’s presence in the specialized patient monitoring space, expanding the portfolio with key technology used to guide fluid management based on individual patient needs.
Announced a partnership with COSMED srl to commercialize Q-NRG+, a metabolic monitoring device utilizing indirect calorimetry (IC) technology. IC is used to accurately measure resting energy expenditure (REE) – a patient’s caloric needs while at rest – and is recommended in guidelines from nutrition societies around the world.
Broadened its generic injectable pharmaceuticals portfolio with the U.S. launch of Myxredlin (Insulin Human in 0.9% Sodium Chloride Injection), the first and only ready-to-use insulin for IV infusion in the hospital and other acute care settings.
Announced new data associating the use of Baxter’s automated peritoneal dialysis (APD) cyclers and the Sharesource remote patient management platform with a 39% reduction in hospitalizations for home PD patients receiving care at Baxter Renal Care Services clinics in Colombia. The data also show the use of Sharesource is associated with a 54% reduction in the length of hospital stay for home dialysis patients requiring inpatient care. Sharesource is the most widely adopted telehealth platform globally for home dialysis and has helped manage approximately 10 million PD treatments in more than 40 countries.
The Company has also received multiple recognitions in recent months. Among them, Baxter was:

Named to the Dow Jones Sustainability Indices (DJSI) – DJSI World and DJSI North America – recognizing continued leadership in sustainability and corporate responsibility. Baxter has appeared on each of these lists since the introduction of the DJSI in 1999.
Recognized as a 2019 Top 10 Percent Inclusion Index Company, one of just 14 companies cited for superior achievement in creating an inclusive workplace as part of Diversity Best Practices’ annual Inclusion Index.
Honored by Working Mother magazine as one of its 2019 100 Best Companies, and one of its 2019 Best Companies for Dads.
Internal Investigation

Baxter recently began an investigation into certain intra-Company transactions undertaken for the purpose of generating foreign exchange gains or losses. These transactions used a foreign exchange rate convention historically applied by the Company that was not in accordance with generally accepted accounting principles and enabled intra-Company transactions to be undertaken after the related exchange rates were already known. The Company is being assisted in the investigation by experienced external counsel and consultants.

These intra-Company transactions resulted in certain misstatements in the Company’s previously reported non-operating income related to net foreign exchange gains. Within "Other (income) expense, net," the Company previously reported net foreign exchange gains of $8 million, $113 million, $28 million, $50 million, $73 million, and $22 million, for the years 2014, 2015, 2016, 2017, 2018, and the first half of 2019, respectively. The investigation is not limited to these periods and any subsequent adjustments to previously reported foreign exchange gains and losses may alter those non-operating income results.

The Audit Committee of the Company’s Board of Directors is overseeing this investigation with the assistance of independent, experienced external advisors. Baxter voluntarily advised the staff of the Securities and Exchange Commission (SEC) that the internal investigation is underway and intends to provide additional information to the SEC as the investigation progresses. The Company does not expect to file its quarterly report on Form 10-Q for the period ended September 30, 2019 on a timely basis.

The investigation is in its early stages and the Company cannot predict its duration or outcome. Upon completion of the investigation and the Company’s evaluation of the materiality of the misstatements, the Company expects to either amend its periodic reports previously filed with the SEC to include restated financial statements that correct those misstatements, or include in reports for future periods restated comparative financial statements that correct those misstatements. The Company also will consider the extent to which these matters impact the effectiveness of its internal control over financial reporting.

"Baxter takes this matter very seriously, and the Board along with the Company’s leadership team fully supports a comprehensive investigation," Mr. Almeida stated. "The Company is taking steps to strengthen and enhance its internal controls, and we look forward to sharing our full financial results as soon as possible."

As part of any corrections to previously issued financial statements after completion of the non-operating income investigation, Baxter also expects to correct certain items that affect operating income and were immaterial to its previously reported results of operations. These items include the impact of the use of the foreign exchange rate convention to translate the results of the Company’s foreign operations into U.S. dollars and the impact of the incorrect accounting for placed equipment that the Company leases to its customers. Correction of these immaterial misstatements would not affect the reported sales growth rate in the third quarter 2019 or the projected reported growth rate or projected operating margin range for the fourth quarter presented herein.

Fourth Quarter 2019 Sales and Operating Margin Outlook2

For the fourth quarter of 2019, the Company expects sales growth of 3-4% on a reported basis and approximately 5% on a constant currency and operational basis. Baxter expects operating margin to be between 15.2% and 15.9% on a reported basis and between 18.5% and 19% on an adjusted basis.

Conference Call Information

A webcast of Baxter’s third quarter 2019 conference call for investors can be accessed live from a link on the Company’s website at www.baxter.com beginning at 7:30 a.m. CDT on October 24, 2019. Please see www.baxter.com for more information regarding this and future investor events and webcasts.

Asana BioSciences to Present Phase 1 Clinical Safety and Efficacy Data of Oral, Once-Weekly, ASN007, a Novel ERK 1/2 Inhibitor, at the AACR-NCI-EORTC Molecular Targets and Cancer Therapeutics Conference

On October 24, 2019 Asana BioSciences, a clinical stage biopharmaceutical company, reported that it will present ASN007 data on clinical safety and efficacy in solid tumor patients at the AACR (Free AACR Whitepaper)-NCI-EORTC Molecular Targets and Cancer Therapeutics Conference to be held in Boston, MA on October 26-30, 2019 (Press release, Asana BioSciences, OCT 24, 2019, View Source [SID1234542500]). The Scientific Committee selected the ASN007 late breaking abstract submission as one of the top ten abstracts for this year’s program and invited presentation as a short-talk.

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The details of the presentation are as follows:

Abstract number:

666

Title:

Phase 1 clinical safety and efficacy of ASN007, a novel oral ERK1/2 inhibitor, in patients with RAS, RAF or MEK mutant advanced solid tumors

Presenting Author:

Anthony W. Tolcher, MD FRCPC FACP

Director of Clinical Research, NEXT Oncology, San Antonio, TX

Session:

Spotlight on Proffered Papers

Date:

Tuesday, October 29, 2019

Time:

11:50 a.m.-12:30 p.m.

About ASN007

ASN007 is in Phase 1 clinical development. It is a potent inhibitor of the extracellular-signal-regulated kinases ERK1 and ERK2, which are key players in the RAS/RAF/MEK/ERK (MAPK) signaling pathway. ASN007 shows activity in KRAS-driven models, irrespective of subtype mutation, and BRAF models, including RAF/MEK inhibitor-resistant melanoma. ASN007 has a long target residence time and shows activity in preclinical models using an intermittent dosing schedule. ASN007 is being evaluated in patients with advanced solid tumors, including BRAF- and KRAS-mutant cancers (NCT03415126). The once-weekly maximum tolerated dose is determined and selected for the ongoing dose expansion.