Pulse Biosciences Reports Fourth Quarter and Full Year 2019 Financial Results

On March 16, 2020 Pulse Biosciences, Inc. (Nasdaq: PLSE), a novel bioelectric medicine company, reported financial results for the fourth quarter and full year ended December 31, 2019 (Press release, Pulse Biosciences, MAR 16, 2020, View Source [SID1234555617]).

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Recent Highlights

Nano-Pulse Stimulation (NPS) technology was highlighted in three clinical study presentations demonstrating its high clearance rates of benign skin lesions at the Annual Meeting of the American Society for Dermatologic Surgery.
Presented data from a study evaluating the clinical and histologic response of NPS technology in treating challenging cases of nodular Basal Cell Carcinoma at the International Master Course on Aging Skin World Congress.
Completed enrollment in the Company’s CellFX Warts Pivotal Study.
Obtained ISO-13485:2016 Quality System Management Certification to begin preparations for international commercialization of the CellFX System.
Appointed industry veteran Sandra Gardiner as Executive Vice President and Chief Financial Officer.
Announced Board approval to pursue a rights offering seeking to raise $30 million in net proceeds.
Following receipt of a Not Substantially Equivalent Letter from the U.S. Food and Drug Administration (FDA) on its previous 510(k) submission, the Company remains engaged with FDA to determine the regulatory path forward for the CellFX System. The Company recently requested a formal Q-submission meeting with FDA to discuss requirements for a new 510(k) submission and based on recent communication, expects the meeting to take place in May.
"I am proud of our continued work to develop NPS technology across multiple clinical applications. We’ve developed a novel and proprietary platform, the CellFX System, that implements a novel utilization-based business model to align incentives between physicians, patients and Pulse Biosciences. Our top priority remains FDA clearance for use of the CellFX System in aesthetic dermatology," said Darrin Uecker, President and CEO of Pulse Biosciences. "After recent developments and collaboration with FDA, we are refocused on generating and providing additional data that will support a new 510(k) submission for what we believe will be a general dermatologic indication. Our confidence in the technology continues to grow and we remain excited about the potential of our system."

Financial Update

Cash, cash equivalents and investments totaled $25.4 million as of December 31, 2019, compared to $34.5 million as of September 30, 2019. Cash used in the fourth quarter totaled $9.1 million. Cash use for the full year ended December 31, 2019 totaled $34.2 million.

Operating expenses for the three months ended December 31, 2019 were $13.9 million, compared to $9.1 million for the prior year period. Operating expenses for the full year ended December 31, 2019 were $48.0 million compared to $38.0 million for the full year ended December 31, 2018. The increase in operating expenses was driven by the expansion of operational infrastructure including marketing and sales functions as well as the expansion of the research and development teams and clinical trial costs.

Net loss for the fourth quarter ended December 31, 2019 was $13.8 million compared to $9.0 million for the fourth quarter ended December 31, 2018. Net loss for the full year ended December 31, 2019 was $47.0 million compared to $37.5 million for the full year ended December 31, 2018.

Teva and Celltrion Healthcare Announce U.S. Availability of HERZUMA® (trastuzumab-pkrb) for Injection

On March 16, 2020 Teva Pharmaceuticals USA, Inc., a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), and Celltrion Healthcare, Co., Ltd. (KRX KOSDAQ:091990), reported that HERZUMA1 (trastuzumab-pkrb) for Injection, a biosimilar to HERCEPTIN1, is now available in the United States with the same indications as the reference product including (Press release, Teva, MAR 16, 2020, View Source [SID1234555615]):

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Adjuvant Breast Cancer
HERZUMA is indicated for the adjuvant treatment of HER2-overexpressing node-positive or node-negative (ER/PR negative or with one high-risk feature) breast cancer
as part of a treatment regimen consisting of doxorubicin, cyclophosphamide, and either paclitaxel or docetaxel
as part of a treatment regimen with docetaxel and carboplatin
as a single agent following multi-modality anthracycline based therapy
Metastatic Breast Cancer
HERZUMA is indicated:
In combination with paclitaxel for first-line treatment of HER2-overexpressing metastatic breast cancer
As a single agent for treatment of HER2-overexpressing breast cancer in patients who have received one or more chemotherapy regimens for metastatic disease
Metastatic Gastric Cancer
HERZUMA is indicated in combination with cisplatin and capecitabine or 5-fluorouracil, for the treatment of patients with HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma who have not received prior treatment for metastatic disease.
In these indications, patients should be selected for therapy based on a U.S. Food and Drug Administration (FDA)-approved companion diagnostic for a trastuzumab product.

"We are proud to make HERZUMA available to patients in the U.S. living with HER2-positive breast and gastric cancers, and their providers," said Brendan O’Grady, Executive Vice President, North America Commercial, Teva. "The launch of HERZUMA continues our commitment to help lower healthcare costs and increase price competition through the availability of biosimilars. Teva is continuing to invest in biopharmaceuticals as part of our long-term strategy for the future, and to help patients around the world, and we look forward to additional milestones for our biosimilar products later this year."

HERZUMA has received FDA approval for the same indications of the reference product.

"We are pleased that HERZUMA is now available to patients in the U.S.," said Mr. Hyoung-Ki Kim, Vice Chairman at Celltrion Healthcare. "We look forward to continuing our partnership with Teva to bring biosimilars to as many patients as possible in the U.S., as we believe they address an unmet need in the market."

The Wholesale Acquisition Cost (WAC or "list price") for HERZUMA 150 mg is $1,402.50 and HERZUMA 420 mg is $3,927, which is a 10 percent discount to the WAC of HERCEPTIN. Actual costs to individual patients and providers for HERZUMA are anticipated to be lower than WAC because WAC does not account for additional rebates and discounts that may apply. Savings on out-of-pocket costs may vary depending on the patient’s insurance payer and eligibility for participation in the assistance program.

Dedicated patient support services are also available from Teva through the CORE program. CORE is available to help eligible patients, caregivers and healthcare professionals navigate the reimbursement process. CORE offers a range of services, including benefits verification and coverage determination, support for precertification and prior authorization, assistance with coverage guidelines and claims investigation, and support through the claims and appeals process. A savings program is also available for eligible commercially insured patients. To learn more, please visit TevaCORE.com.

Celltrion Healthcare and Teva Pharmaceutical Industries Ltd. entered into an exclusive partnership in October 2016 for Teva to commercialize HERZUMA in the U.S. and Canada.

Trastuzumab products have a Boxed Warning, which states that treatment with trastuzumab may be associated with cardiomyopathy, infusion reactions, pulmonary toxicity and embryo-fetal toxicity. Please see the full Boxed Warning and additional Important Safety Information in this release and accompanying Prescribing Information.

Important Safety Information

WARNING: CARDIOMYOPATHY, INFUSION REACTIONS, EMBRYO‑FETAL TOXICITY, AND PULMONARY TOXICITY

Cardiomyopathy – Administration of trastuzumab products can result in sub-clinical and clinical cardiac failure. The incidence and severity was highest in patients receiving trastuzumab with anthracycline‑containing chemotherapy regimens.

Evaluate left ventricular function in all patients prior to and during treatment with HERZUMA. Discontinue HERZUMA treatment in patients receiving adjuvant therapy and withhold HERZUMA in patients with metastatic disease for clinically significant decrease in left ventricular function.

Infusion Reactions; Pulmonary Toxicity – Administration of trastuzumab products can result in serious and fatal infusion reactions and pulmonary toxicity. Symptoms usually occur during or within 24 hours of administration. Interrupt HERZUMA infusion for dyspnea or clinically significant hypotension. Monitor patients until symptoms completely resolve. Discontinue HERZUMA for anaphylaxis, angioedema, interstitial pneumonitis, or acute respiratory distress syndrome.

Embryo-Fetal Toxicity – Exposure to trastuzumab products during pregnancy can result in oligohydramnios and oligohydramnios sequence manifesting as pulmonary hypoplasia, skeletal abnormalities, and neonatal death. Advise patients of these risks and the need for effective contraception.

WARNINGS AND PRECAUTIONS

Cardiomyopathy

Administration of trastuzumab products can result in sub-clinical and clinical cardiac failure. The incidence and severity was highest in patients receiving trastuzumab with anthracycline‑containing chemotherapy regimens
Trastuzumab products can cause left ventricular cardiac dysfunction, arrhythmias, hypertension, disabling cardiac failure, cardiomyopathy, and cardiac death
Trastuzumab products can also cause asymptomatic decline in left ventricular ejection fraction (LVEF)
Discontinue HERZUMA treatment in patients receiving adjuvant therapy and withhold HERZUMA in patients with metastatic disease for clinically significant decrease in left ventricular function
The safety of continuation or resumption of HERZUMA in patients with trastuzumab product-induced LV cardiac dysfunction has not been studied
Cardiac Monitoring

Evaluate cardiac function prior to and during treatment. For adjuvant breast cancer therapy, also evaluate cardiac function after completion of HERZUMA
Conduct thorough cardiac assessment, including history, physical examination, and determination of LVEF by echocardiogram or MUGA scan
Monitor frequently for decreased left ventricular function during and after HERZUMA treatment
Monitor more frequently if HERZUMA is withheld for significant left ventricular cardiac dysfunction
Infusion Reactions

Administration of trastuzumab products can result in serious and fatal infusion reactions
Symptoms usually occur during or within 24 hours of administration
Interrupt HERZUMA infusion for dyspnea or clinically significant hypotension
Monitor patients until symptoms completely resolve
Discontinue HERZUMA for anaphylaxis or angioedema. Strongly consider permanent discontinuation in all patients with severe infusion reactions
Infusion reactions consist of a symptom complex characterized by fever and chills, and on occasion included nausea, vomiting, pain (in some cases at tumor sites), headache, dizziness, dyspnea, hypotension, rash, and asthenia
Embryo-Fetal Toxicity

Exposure to trastuzumab products during pregnancy can result in oligohydramnios and oligohydramnios sequence manifesting as pulmonary hypoplasia, skeletal abnormalities, and neonatal death. Advise patients of these risks and the need for effective contraception
Verify the pregnancy status of females of reproductive potential prior to the initiation of HERZUMA
Advise pregnant women and females of reproductive potential that exposure to HERZUMA during pregnancy or within 7 months prior to conception can result in fetal harm
Advise females of reproductive potential to use effective contraception during treatment and for 7 months following the last dose of HERZUMA. Advise female patients to contact their healthcare provider with a known or suspected pregnancy
Consider the developmental and health benefits of breastfeeding along with the mother’s clinical need for HERZUMA treatment and any potential adverse effects on the breastfed child from HERZUMA or from the underlying maternal condition
Pulmonary Toxicity

Administration of trastuzumab products can result in serious and fatal pulmonary toxicity, which includes dyspnea, interstitial pneumonitis, pulmonary infiltrates, pleural effusions, non‑cardiogenic pulmonary edema, pulmonary insufficiency and hypoxia, acute respiratory distress syndrome, and pulmonary fibrosis. Such events can occur as sequelae of infusion reactions
Patients with symptomatic intrinsic lung disease or with extensive tumor involvement of the lungs, resulting in dyspnea at rest, appear to have more severe toxicity
Discontinue HERZUMA in patients experiencing pulmonary toxicity
Exacerbation of Chemotherapy-Induced Neutropenia

In randomized, controlled clinical trials, the per-patient incidences of NCI-CTC Grade 3 to 4 neutropenia and of febrile neutropenia were higher in patients receiving trastuzumab in combination with myelosuppressive chemotherapy as compared to those who received chemotherapy alone. The incidence of septic death was similar among patients who received trastuzumab and those who did not
Most Common Adverse Reactions

Adjuvant Breast Cancer – Most common adverse reactions (≥5%) are headache, diarrhea, nausea, and chills
Metastatic Breast Cancer- Most common adverse reactions (≥10%) are fever, chills, headache, infection, congestive heart failure, insomnia, cough, and rash
Metastatic Gastric Cancer- Most common adverse reactions (≥10%) are neutropenia, diarrhea, fatigue, anemia, stomatitis, weight loss, upper respiratory tract infections, fever, thrombocytopenia, mucosal inflammation, nasopharyngitis, and dysgeusia
Please click here for full Prescribing Information for HERZUMA, including BOXED WARNINGS.

About HERZUMA

HERZUMA (trastuzumab-pkrb) for Injection is a U.S. FDA-approved biosimilar to Herceptin with no clinically meaningful differences in safety, purity and potency. HERZUMA is used in adults to treat HER2+ breast cancer and metastatic gastric cancer. HERZUMA has the same mechanism of action as Herceptin and has demonstrated biosimilarity to Herceptin through a totality of evidence.

About Celltrion Healthcare, Co. Ltd.

Celltrion Healthcare conducts the worldwide marketing, sales and distribution of biological medicines developed by Celltrion, Inc. through an extensive global network that spans more than 120 different countries. Celltrion Healthcare’s products are manufactured at state-of-the-art mammalian cell culture facilities, designed and built to comply with the US FDA cGMP guidelines and the EU GMP guidelines.

TRACON Announces Submission Of Request For Type B Meeting With FDA To Discuss Trial Design For ENVASARC: A Potential Pivotal Study Of Envafolimab In Sarcoma

On March 16, 2020 TRACON Pharmaceuticals (NASDAQ:TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted therapeutics for cancer and utilizing a product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the U.S., reported that it has submitted a request for a Type B meeting with the U.S. Food and Drug Administration (FDA) to discuss the trial design for a potential pivotal study of envafolimab in sarcoma (ENVASARC) (Press release, Tracon Pharmaceuticals, MAR 16, 2020, View Source [SID1234555614]).

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TRACON plans to propose a pivotal trial with two cohorts of approximately 80 patients each to assess the objective response rate in sarcoma subtypes known to be responsive to checkpoint inhibition, with one cohort receiving single-agent envafolimab and the second cohort receiving envafolimab and Yervoy (ipilimumab).

"We have taken the first step towards beginning the ENVASARC study of envafolimab in sarcoma subtypes known to respond to checkpoint inhibitors. This initiates a series of expected events that we anticipate will culminate in dosing the first patient in a potential pivotal trial in the second half of the year," said Charles Theuer, M.D., Ph.D., President and CEO of TRACON. "We believe the proposed study design that utilizes two cohorts provides for greater treatment options for patients and lowers envafolimab’s clinical risk by providing two potential pathways for approval."

Expected Upcoming Envafolimab Milestones Over the Next 6 Months

Type B meeting with the FDA to discuss the potential pivotal trial design of ENVASARC for envafolimab
File IND for envafolimab to conduct the planned ENVASARC study
Apply for orphan drug designation for envafolimab in soft tissue sarcoma
Submission of regulatory approval for envafolimab in China by our partners, 3D Medicine and Alphamab Oncology
Presentation of envafolimab clinical data at ASCO (Free ASCO Whitepaper) by our partners 3D Medicine and Alphamab Oncology
Enroll the first patient in ENVASARC, a potential pivotal trial of envafolimab
About Envafolimab

Envafolimab is a novel, single-domain antibody against PD-L1 that is administered by subcutaneous injection without the need for an adjuvant. Envafolimab is currently being dosed in Phase 1 trials in the U.S., China and Japan, a Phase 2 registration trial as a single agent in MSI-H tumor patients in China, and in a Phase 3 registration trial in biliary tract cancer in combination with gemcitabine and oxaliplatin in China. Subject to positive data from the MSI-H registrational trial, 3D Medicines has stated that it plans to file a BLA in China for envafolimab in 2020 based on overall response rate in MSI-H patients. The filing is predicated on the principle that the response rate required for approval in China is similar to the response rate for Keytruda and Opdivo in MSI-H patients from separate clinical trials per the product package inserts.

Varian to Equip New Ethos Personalized Adaptive Therapy Center in Phoenix

On March 16, 2020 Varian (NYSE: VAR) reported it was selected to equip the new Ethos Personalized Adaptive Therapy Center in Phoenix, Arizona, and help launch a new era in cancer treatment for patients in the region (Press release, Varian Medical Systems, MAR 16, 2020, View Source [SID1234555613]). Ethos therapy provides the ability to personalize the patient’s radiation treatments based on their anatomy and the tumor’s shape and position on a daily basis at the time of treatment. The goal is to better target the tumor, reduce dose to healthy tissue, and potentially improve overall patient outcomes.

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This new center will be equipped with Varian’s Ethos therapy. This artificial intelligence (AI)-driven holistic adaptive therapy solution is designed to deliver an entire adapted treatment for daily personalized radiation therapy in a typical 15-minute timeslot.

"We are excited to be opening this new center to bring a new level of personalized care to all cancer patients in Arizona and proud to be among the first clinics to offer Ethos therapy in the United States," said John Kresl MD PhD, senior partner and medical director at Palo Verde Cancer Specialists and Phoenix CyberKnife Center. "Ethos therapy will continue to enable our physicians to be the leaders in providing the latest state-of-the-art tumor focused radiation therapy by better visualizing the daily changes in a patient’s anatomy and quickly adapt their therapy right on the spot, thereby potentially providing better treatments to our patients. We initially plan to use Ethos therapy for pancreas, prostate, breast, head & neck, and lung cancer treatments."

"Every patient deserves personalized cancer care," said Chris Toth, president Varian Oncology Systems. "The launch of Ethos therapy was a transformational moment for cancer care, and we are honored to be working with this new center to bring these adaptive treatments to patients in Arizona and help us move closer to creating a world without fear of cancer."

Varian Halcyon 2.0 Treatment System Receives China NMPA Approval

On March 16, 2020 Varian (NYSE: VAR) reported its Halcyon 2.0 treatment system has been approved by the China National Medical Products Administration (NMPA), which allows the company to market this cancer treatment system in China (Press release, Varian Medical Systems, MAR 16, 2020, View Source [SID1234555612]). This system incorporates new imaging technologies, such as kV Cone-beam CT (CBCT) and Iterative CBCT, to expand its capabilities and ability to deliver high quality cancer care globally. This approval further expands the global availability of Halcyon and access to high-quality, cost-effective cancer treatments.

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As an advanced cancer treatment system with a human-centered and user-friendly design, Halcyon is engineered to revolutionize clinical workflow, accelerate installation timeframes, expedite commissioning, simplify training, and automate treatment. The system is well suited to treat a majority of cancer patients, offering advanced treatments for lung, prostate, breast, head & neck, and many other forms of cancer.

Halcyon 2.0 features kV CBCT and Iterative CBCT imaging for better soft tissue definition. The system is capable of kV CBCT images in approximately 15 seconds. This enhanced imaging capability helps ensure proper patient positioning while also accelerating the treatment workflow.

Halcyon is supported by Varian’s Eclipse treatment planning system. This software creates an optimized radiotherapy treatment plan based on a physician’s dose instructions and information about the size, shape, and location of the tumor to be treated with radiation. The Eclipse software incorporates unique features such as RapidPlan knowledge-based planning, multi-criteria optimization (MCO), and Graphics Processing Unit (GPUs) support, which are all designed to enable clinics to efficiently create the highest quality plans.

"We are very excited to receive this approval and make Halcyon 2.0 available to clinicians in China," said Chris Toth, president Varian Oncology Systems. "The original Halcyon system has already been well received in the country and has allowed clinicians to treat thousands of patients. These new imaging capabilities will play an important role in further accelerating the patient workflow and proving the opportunity to treat more patients."