Seattle Genetics Announces Submission of Tucatinib New Drug Application to the U.S. FDA for Patients with Locally Advanced or Metastatic HER2-Positive Breast Cancer

On December 23, 2019 Seattle Genetics, Inc. (Nasdaq:SGEN) reported it has completed the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for tucatinib (Press release, Seattle Genetics, DEC 23, 2019, View Source [SID1234552587]). This NDA requests FDA approval of tucatinib in combination with trastuzumab and capecitabine for treatment of patients with locally advanced unresectable or metastatic HER2-positive breast cancer, including patients with brain metastases, who have received at least three prior HER2-directed agents separately or in combination, in the neoadjuvant, adjuvant or metastatic setting. The submission is based on the results of HER2CLIMB, a randomized pivotal trial comparing tucatinib added to trastuzumab and capecitabine versus trastuzumab and capecitabine alone. HER2CLIMB trial results were presented on December 11, 2019 at the 2019 San Antonio Breast Cancer Symposium and published in the New England Journal of Medicine.Tucatinib is an oral, small molecule tyrosine kinase inhibitor (TKI) that is highly selective for HER2.

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Tucatinib was recently granted Breakthrough Therapy designation by the FDA in combination with trastuzumab and capecitabine, for treatment of patients with locally advanced unresectable or metastatic HER2-positive breast cancer, including patients with brain metastases, who have been treated with trastuzumab, pertuzumab, and T-DM1. This designation was based on data from the HER2CLIMB trial.

"Today’s submission marks another important milestone for Seattle Genetics and tucatinib, and a potential advance for patients with either locally advanced or metastatic HER2-positive breast cancer, including those with and without brain metastases," said Roger Dansey, M.D., Chief Medical Officer at Seattle Genetics. "We look forward to working with the FDA on the review of this application."

About HER2-Positive Breast Cancer

Patients with HER2-positive breast cancer have tumors with high levels of a protein called human epidermal growth factor receptor 2 (HER2), which promotes the aggressive spread of cancer cells. An estimated 271,270 new cases of invasive breast cancer will be diagnosed in the U.S. in 2019.1 Between 15 and 20 percent of breast cancer cases worldwide are HER2-positive.2 Historically, HER2-positive breast cancer tends to be more aggressive and more likely to recur than HER2-negative breast cancer.2, 3, 4 In patients with metastatic breast cancer, the most common site of first metastasis is in bone, followed by lung, brain, and liver.5, 6 Up to 50 percent of metastatic HER2-positive breast cancer patients develop brain metastases over time.2, 7 Despite recent treatment advances, there is still a significant need for new therapies that can impact metastatic disease, especially brain metastases. There are currently no approved therapies demonstrating progression-free survival or overall survival benefit for the treatment of patients with HER2-positive metastatic breast cancer after progression on T-DM1.8, 9, 10

About HER2CLIMB

HER2CLIMB is a multinational randomized (2:1), double-blind, placebo-controlled, active comparator, pivotal clinical trial comparing tucatinib in combination with trastuzumab and capecitabine compared with trastuzumab and capecitabine alone in patients with locally advanced unresectable or metastatic HER2-positive breast cancer who were previously treated with trastuzumab, pertuzumab, and T-DM1. The primary endpoint of the trial was PFS per Response Evaluation Criteria in Solid Tumors (RECIST) v1.1 as determined by blinded independent central review (BICR) in the first 480 patients enrolled in the trial. HER2CLIMB enrolled a total of 612 patients to support the analyses of key secondary endpoints, including overall survival, PFS per BICR in patients with brain metastases at baseline, and confirmed objective response rate. Safety data were evaluated throughout the study.

About Tucatinib

Tucatinib is an investigational, orally bioavailable, potent tyrosine kinase inhibitor that is highly selective for HER2 without significant inhibition of EGFR. Inhibition of EGFR has been associated with significant toxicities, including skin rash and diarrhea. Tucatinib has shown activity as a single agent and in combination with both chemotherapy and other HER2 targeted agents such as trastuzumab.1, 2 Studies of tucatinib in these combinations have shown activity both systemically and in brain metastases. HER2 is a growth factor receptor that is overexpressed in multiple cancers, including breast, colorectal, and gastric cancers. HER2 mediates cell growth, differentiation, and survival. Tucatinib has been granted orphan drug designation by the FDA for the treatment of breast cancer patients with brain metastases.

In addition to HER2CLIMB, tucatinib is being evaluated in a randomized, double-blind, placebo-controlled, multi-center phase 3 trial of tucatinib in combination with T-DM1 compared to T-DM1 alone, in patients with unresectable locally advanced or metastatic HER2-positive breast cancer, including those with brain metastases, who have had prior treatment with a taxane and trastuzumab. The primary endpoint is progression-free survival per RECIST criteria. Secondary endpoints include overall survival, objective response rate, and duration of response. The trial is being conducted in North America and is expected to enroll approximately 460 patients. More information about the phase 3 trial, including enrolling centers, is available at www.clinicaltrials.gov.

Tucatinib is also being evaluated in a multi-center, open-label, single-arm phase 2 clinical trial known as MOUNTAINEER, which is evaluating tucatinib in combination with trastuzumab in patients with HER2-positive, RAS wildtype metastatic, or unresectable colorectal cancer. The primary endpoint of the trial is objective response rate by RECIST criteria. Progression-free survival, duration of response, overall survival, and safety and tolerability of the combination regimen are secondary objectives. Results for 26 patients were evaluated in an analysis and presented at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) 2019 Congress. Enrollment is ongoing. More information about the MOUNTAINEER trial, including enrolling centers, is available at www.clinicaltrials.gov.

BioInvent Announces Selection of Second Target and Extension of the Research Collaboration and License Agreement With Pfizer Inc.

On December 23, 2019 BioInvent International AB ("BioInvent" or the "Company") (OMXS: BINV) reported that Pfizer Inc. ("Pfizer") (NYSE: PFE) has selected the second target under the companies’ cancer immunotherapy research collaboration and license agreement (Press release, BioInvent, DEC 23, 2019, View Source [SID1234552586]). BioInvent today also announces that it has extended the research term under its collaboration and license agreement with Pfizer by six months.

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In December 2016, the companies entered into the agreement for the development and commercialization of antibodies targeting tumor-associated myeloid cells discovered using BioInvent’s proprietary F.I.R.S.TTM drug discovery platform. The purpose of the research extension is to permit the companies to further identify and characterize new targets and antibodies binding to these targets.

Pfizer selected the first target under the agreement earlier this year, and has now selected a second target, which triggers a payment from Pfizer to BioInvent of $300,000.,BioInvent is eligible for further milestone payments from development of antibodies directed against these targets and may be eligible for further milestone payments related to potential selection of additional targets and the development of antibodies directed against those targets.

Martin Welschof, CEO of BioInvent, said: "We believe that Pfizer’s selection of a second target is a strong demonstration of our F.I.R.S.T technology platform, a patient-centric approach allowing for the discovery of human antibodies and targets using our high-quality n-CoDeR antibody library, to identify interesting targets. The extension provides additional time to potentially select more targets and corresponding antibodies."

Entry into a Material Definitive Agreement

On December 23, 2019, vTv Therapeutics Inc. (the "Company"), reported that it has entered into a letter agreement (the "December 2019 Letter Agreement"), with MacAndrews & Forbes Group LLC (the "Investor"), for the Investor’s commitment to purchase, at the Company’s option, exercisable on demand during a one-year period after the date of the Letter Agreement (the "Investment Period"), the Company’s Class A common stock, par value $0.01 per share ("Common Stock") at a per share price of $1.60, which is equal to the closing price of the Common Stock for the trading day prior to the date of the December 2019 Letter Agreement (Filing, 8-K, vTv Therapeutics, DEC 23, 2019, View Source [SID1234552585]). The December 2019 Letter Agreement also permits the Investor to exercise an option to purchase Common Stock at the same price up to three times during the Investment Period. The aggregate amount of Common Stock that may be purchased by the Investor (whether at its or the Company’s option) pursuant to the December 2019 Letter Agreement is limited to $10.0 million.

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In consideration for the commitment of the Investor under the December 2019 Letter Agreement, the Investor will receive warrants (the "Warrants") to purchase 365,472 shares of the Company’s Common Stock, exercisable at a price of $1.84, which is 115% of the option price under the December 2019 Letter Agreement. The Warrants will be exercisable until December 23, 2026.

The obligation of the Investor to fund and the obligation of the Company to issue shares under the December 2019 Letter Agreement is subject to the execution of mutually acceptable definitive documentation at the time of a request for funding.

As of December 23, 2019, subsidiaries and affiliates of the Investor held 23,084,267 shares of the Company’s Class B Common Stock and 30,356,212 shares of the Company’s Class A Common Stock. As a result, the Investor’s holdings represent approximately 83.5% of the combined voting power of the Company’s outstanding common stock. One of the Company’s directors, Paul G. Savas, is also an employee of the Investor. The transactions described above were approved in accordance with the Company’s Related Person Transactions Policy.

The descriptions of the December 2019 Letter Agreement and the Warrants contained herein do not purport to be complete and are qualified in their entirety by reference to the December 2019 Letter Agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2019.

TG Therapeutics Announces $50.0 Million Registered Direct Public Offering of Common Stock to a Single Institutional Investor

On December 23, 2019 TG Therapeutics, Inc. (NASDAQ: TGTX), reported it has entered into a definitive agreement to sell approximately 5.4 million shares of registered common stock of the Company at $9.20 per share, to a single, biotechnology-focused, institutional investor as a registered direct public offering (Press release, TG Therapeutics, DEC 23, 2019, View Source [SID1234552584]). Proceeds from the sale are expected to be approximately $50.0 million. TG Therapeutics intends to use the net proceeds from the offering to fund the ongoing development and commercialization of the Company’s lead assets, ublituximab and umbralisib, as well as for research and development activities of the Company’s pipeline, and for general corporate purposes. The offering is expected to close on or about December 23, 2019, subject to customary closing conditions.

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Michael S. Weiss, the Company’s Executive Chairman and Chief Executive Officer, commented on the transaction, "We are excited to have completed this unsolicited financing with a premier biotechnology investor and believe it represents a major vote of confidence in our drug candidates and current pivotal programs. Following this financing, we expect to end 2019 with approximately $140 million in cash and cash equivalents, providing us a cash runway well into 2021, and importantly through our upcoming major milestones including the UNITY-NHL MZL NDA submission for umbralisib, as well as the data readouts for both the UNITY-CLL Phase 3 trial and the ULTIMATE I & II Phase 3 trials in Multiple Sclerosis."

The shares described above are being offered by TG Therapeutics pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A prospectus supplement relating to the offering has also been filed with the SEC and is available on the SEC’s website at View Source." target="_blank" title="View Source." rel="nofollow">View Source Copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC’s website at View Source or by contacting TG Therapeutics, Inc., 2 Gansevoort Street, 9th Floor, New York, NY, Attention: Corporate Secretary, 212-554-4484.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Monopar Therapeutics Inc. Announces Closing of Initial Public Offering of Common Stock

On December 23, 2019 Monopar Therapeutics Inc. reported the closing of its initial public offering of 1,277,778 shares of common stock, including the underwriters’ exercise of its over-allotment option, at a public offering price of $8.00 per share before underwriting discounts and commissions (Press release, Monopar Therapeutics, DEC 23, 2019, View Source [SID1234552583]).

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Total gross proceeds were approximately $10.2 million. Total net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $9.3 million from the initial public offering.

The shares began trading on the Nasdaq Capital Market on December 19, 2019 under the symbol "MNPR."

JonesTrading Institutional Services LLC acted as Lead Bookrunning Manager and Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as Co-Manager for the offering.

The offering of these securities was made only by means of a prospectus. Copies of the final prospectus may be obtained from JonesTrading Institutional Services LLC by calling (212) 907-5332, or by e-mailing [email protected].

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any state.