Exact Sciences schedules annual meeting, second quarter 2020 earnings call

On July 8, 2020 Exact Sciences Corp. (Nasdaq: EXAS) reported that the company has scheduled its virtual annual stockholders meeting and second quarter 2020 earnings call (Press release, Exact Sciences, JUL 8, 2020, View Source [SID1234561743]).

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Annual Meeting of Stockholders Webcast Details

Date:

Thursday, July 23, 2020

Time:

11 a.m. ET, 10 a.m. CT

Webcast:

The live webcast can be accessed at www.exactsciences.com

The company plans to release its second quarter 2020 financial results after the close of the U.S. financial markets on July 30, 2020. Following the release, company management will host a webcast and conference call at 5 p.m. ET to discuss financial results and business progress.

Second Quarter 2020 Webcast & Conference Call Details

Date:

Thursday, July 30, 2020

Time:

5 p.m. ET, 4 p.m. CT

Webcast:

The live webcast can be accessed at www.exactsciences.com

An archive of both webcasts will be available at www.exactsciences.com. A telephone replay of the second quarter 2020 conference call will be available by calling 800-585-8367 domestically or 416-621-4642 internationally. The access code for the replay of the call is 8183605. The webcast, conference call and replay are open to all interested parties.

Lynparza approved in the EU for BRCA-mutated metastatic pancreatic cancer

On July 8, 2020 AstraZeneca and MSD Inc., Kenilworth, N.J., US (MSD: known as Merck & Co., Inc. inside the US and Canada) reported that Lynparza (olaparib) has been approved in the European Union (EU) for patients with germline BRCA-mutated (gBRCAm) metastatic pancreatic cancer (Press release, AstraZeneca, JUL 8, 2020, View Source [SID1234561741]).

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Pancreatic cancer is a rare, life-threatening disease with the lowest survival rate among the most common cancers.1 Approximately 5-7% of patients with metastatic pancreatic cancer have a germline BRCA mutation.2

The approval by the European Commission was based on results from the Phase III POLO trial, which were published in The New England Journal of Medicine. It follows the recommendation for approval by the Committee for Medicinal Products for Human Use of the European Medicines Agency.

Hedy L. Kindler, Co-Principal Investigator of the POLO trial and Professor of Medicine, University of Chicago Medicine, said: "Today’s approval opens the door to a new era of biomarker-led care for patients with metastatic pancreatic cancer in the EU, which has the highest incidence of any region globally. Lynparza now provides clinicians with a targeted, well-tolerated treatment option for patients with germline BRCA-mutated metastatic pancreatic cancer."

Dave Fredrickson, Executive Vice President, Oncology Business Unit, said: "Patients with metastatic pancreatic cancer historically have faced poor outcomes due to the aggressive nature of the disease and few treatment advances have been made over the last few decades. In the POLO trial, Lynparza nearly doubled median progression-free survival versus placebo after 1st-line chemotherapy for patients with germline BRCA-mutated metastatic pancreatic cancer. This approval underscores the importance of testing all patients for germline BRCA mutations at the time of diagnosis, as it will help inform personalised treatment options for patients in the EU."

Roy Baynes, Senior Vice President and Head of Global Clinical Development, Chief Medical Officer, MSD Research Laboratories, said: "MSD and AstraZeneca are committed to advancing research into the treatment of patients with challenging types of cancer, including those with metastatic pancreatic cancer. Lynparza is now the only approved PARP inhibitor in biomarker-selected patients with metastatic pancreatic cancer. We look forward to making this targeted treatment option available for patients across the EU as quickly as possible."

The POLO trial demonstrated that Lynparza nearly doubled the time patients with gBRCAm metastatic pancreatic cancer lived without disease progression or death to a median of 7.4 months versus 3.8 months on placebo. The safety and tolerability profile of Lynparza in the trial was consistent with previous trials.

Lynparza is indicated as monotherapy for the maintenance treatment of adult patients with germline BRCA1/2 mutations who have metastatic adenocarcinoma of the pancreas and have not progressed after a minimum of 16 weeks of platinum treatment within a 1st-line chemotherapy regimen.

Lynparza is approved in the US and several other countries as a 1st-line maintenance treatment for patients with gBRCAm metastatic pancreatic cancer based on the Phase III POLO trial, with ongoing regulatory reviews in other regions.

Pancreatic cancer

Pancreatic cancer is a deadly cancer with a high unmet medical need. Globally, pancreatic cancer is the 11th-most commonly occurring cancer and the seventh leading cause of cancer death.3,4 There were approximately 460,000 new cases worldwide in 2018.1 As there are often no symptoms, or symptoms may be non-specific in the early stages, it is most commonly diagnosed at an incurable stage.5,6

Around 80% of pancreatic cancer patients are diagnosed when the disease has metastasised, at which point average survival is less than a year.7 Despite advances, few improvements have been made in diagnosis and treatment in the past few decades.8 Current treatment is surgery (for which approximately only 10-20% of patients are eligible), chemotherapy and radiotherapy, highlighting a critical unmet medical need for more effective treatment options.9

POLO

POLO is a randomised, double-blinded, placebo-controlled, multi-centre Phase III trial of Lynparza tablets (300mg twice daily) as maintenance monotherapy versus placebo. The trial randomised 154 patients with gBRCAm metastatic pancreatic cancer whose disease had not progressed on 1st-line platinum-based chemotherapy. Patients were randomised (3:2) to receive Lynparza or placebo until disease progression. The primary endpoint was progression-free survival and key secondary endpoints included overall survival, time to second disease progression, overall response rate and health-related quality of life.

BRCA mutations

BRCA1 and BRCA2 (breast cancer susceptibility genes 1/2) are human genes that produce proteins responsible for repairing damaged DNA and play an important role in maintaining the genetic stability of cells. When either of these genes is mutated, or altered, such that its protein product either is not made or does not function correctly, DNA damage may not be repaired properly, and cells become unstable. As a result, cells are more likely to develop additional genetic alterations that can lead to cancer.

Lynparza

Lynparza (olaparib) is a first-in-class PARP inhibitor and the first targeted treatment to block DNA damage response (DDR) in cells/tumours harbouring a deficiency in homologous recombination repair, such as mutations in BRCA1 and/or BRCA2. Inhibition of PARP with Lynparza leads to the trapping of PARP bound to DNA single-strand breaks, stalling of replication forks, their collapse and the generation of DNA double-strand breaks and cancer cell death. Lynparza is being tested in a range of PARP-dependent tumour types with defects and dependencies in the DDR pathway.

Lynparza is currently approved in a number of countries, including those in the EU, for the maintenance treatment of platinum-sensitive relapsed ovarian cancer. It is approved in the US, the EU, Japan, China, and several other countries as 1st-line maintenance treatment of BRCA-mutated advanced ovarian cancer following response to platinum-based chemotherapy. It is also approved in the US as a 1st-line maintenance treatment with bevacizumab for patients with homologous recombination deficiency positive advanced ovarian cancer. Lynparza is approved in the US, Japan, and a number of other countries for gBRCAm, HER2-negative, metastatic breast cancer, previously treated with chemotherapy; in the EU, this includes locally advanced breast cancer. It is also approved in the US and several other countries for the treatment of gBRCAm metastatic pancreatic cancer. Lynparza is approved in the US for homologous recombination repair gene-mutated metastatic castration-resistant prostate cancer. Regulatory reviews are underway in several regions for ovarian, breast, pancreatic and prostate cancers.

Lynparza, which is being jointly developed and commercialised by AstraZeneca and MSD, has been used to treat over 30,000 patients worldwide. Lynparza has the broadest and most advanced clinical trial development programme of any PARP inhibitor, and AstraZeneca and MSD are working together to understand how it may affect multiple PARP-dependent tumours as a monotherapy and in combination across multiple cancer types. Lynparza is the foundation of AstraZeneca’s industry-leading portfolio of potential new medicines targeting DDR mechanisms in cancer cells.

The AstraZeneca and MSD strategic oncology collaboration

In July 2017, AstraZeneca and Merck & Co., Inc., Kenilworth, NJ, US, known as MSD outside the US and Canada, announced a global strategic oncology collaboration to co-develop and co-commercialise Lynparza, the world’s first PARP inhibitor, and Koselugo (selumetinib), a MEK inhibitor, for multiple cancer types. Working together, the companies will develop Lynparza and Koselugo in combination with other potential new medicines and as monotherapies. Independently, the companies will develop Lynparza and Koselugo in combination with their respective PD-L1 and PD-1 medicines.

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 six new medicines 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.

Carina Biotech welcomes new CEO, Dr Deborah Rathjen

On July 8, 2020 Carina Biotech’s board and management team reported that are delighted to welcome Dr Deborah Rathjen as our new CEO (Press release, Carina Biotech, JUL 8, 2020, View Source [SID1234561740]). Deborah’s appointment coincides with Carina completing the first commercial transaction of its CAR-T therapy technology, and signals a new stage in the company’s development with a much stronger focus on market development and commercialisation.

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Our founding CEO and Managing Director, Dr Justin Coombs, initiated this change, recognising the importance of bringing strong strategic commercial expertise into the company so that he can focus on driving Carina’s outstanding scientific progress. Deborah and Justin will work closely together to ensure our technological and commercial strategies are closely aligned and integrated.

Deborah brings a wealth of experience in leading private and listed biotech companies, investment and commercial deals, both in Australia and internationally. This experience, combined with her immunology research background, positions Deborah as the ideal CEO to develop Carina’s corporate strategy, secure new capital and position the company for very attractive commercial partnerships and deals.

In the first instance, Deborah is taking a half-time position as Carina CEO, while also continuing her existing part-time role as Executive Chair of a US biotech company in the neuroscience field. Justin’s position as Head, IP and Technology Development will also be a half-time position from August, when he will take on the additional role as half-time CEO of CureCell Ltd, the not-for-profit organisation that was previously CTM CRC. CureCell is working with the Seattle Children’s Research Institute (USA) to establish Cureworks Australia to bring potentially life-saving CAR-T clinical trials for childhood cancers to Australia.

Ascendis Pharma A/S Announces Pricing of Public Offering of ADSs

On July 8, 2020 Ascendis Pharma A/S (Nasdaq:ASND), a biopharmaceutical company that utilizes its innovative TransCon technologies to address unmet medical needs, reported the pricing of its underwritten public offering of 4,225,352 American Depositary Shares ("ADSs"), each of which represents one ordinary share of Ascendis, at a price to the public of $142.00 per ADS (Press release, Ascendis Pharma, JUL 8, 2020, View Source [SID1234561721]). All of the ADSs are being offered by Ascendis. The offering is expected to close on or about July 10, 2020 subject to customary closing conditions. In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 633,802 ADSs at the public offering price, less the underwriting commissions.

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Ascendis estimates net proceeds from the offering to be approximately $569.2 million (assuming no exercise of the underwriters’ option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses. Ascendis intends to use the net proceeds of the offering to support the clinical development, regulatory approval and commercial preparations for TransCon hGH, to fund clinical development of its other endocrinology rare disease programs, including TransCon PTH and TransCon CNP, to identify and progress development of new product candidates, including in the therapeutic area of oncology, and for working capital and general corporate purposes.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Evercore Group L.L.C. and SVB Leerink LLC are acting as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC, Cantor Fitzgerald & Co. and Canaccord Genuity LLC are acting as co-lead managers for the offering and Oppenheimer & Co. Inc., Wedbush Securities Inc. and Kempen & Co are acting as co-managers for the offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission ("SEC") on May 30, 2018 and automatically became effective upon filing. This offering is being made solely by means of a prospectus. A copy of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at [email protected]; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by telephone at (800) 808-7525, ext. 6218, or by email at [email protected].

Luminary Therapeutics And Case Western Reserve University Enter Formal Collaboration

On July 7, 2021 Luminary Therapeutics (Luminary Tx) and Case Western Reserve University reported that they have entered into a formal collaboration agreement that includes an option for Luminary to exclusively license a novel BAFF target for use in CAR-T (chimeric antigen receptor T cells) constructs (Press release, Luminary Therapeutics, JUL 7, 2020, View Source [SID1234577965]).

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The BAFF target was discovered by Reshmi Parameswaran, PhD, an assistant professor at the Case Western Reserve School of Medicine and a faculty member in the Division of Hematology and Oncology, Department of Medicine, and the Seidman Cancer Center at University Hospitals (UH) in Cleveland.

Luminary intends to conduct IND-enabling non-clinical studies to support two clinical trials with its novel and proprietary non-viral autologous BAFF CAR-T (LMY-920) to treat Mantle Cell Lymphoma and Sjogren’s Syndrome. This BAFF target is unique in that it binds to three distinct receptors (BAFF, BCMA, and TACI). Additionally, this BAFF target avoids early B-Cells while targeting more mature B-Cells that express one of three antigens.

"This next generation BAFF CAR offers the promise of treating B-Cell malignancies without total loss of a patient’s healthy B-Cells as well as offering the promise of a reduction in antigen escape during the treatment regimen," said Beau Webber, Luminary Tx’s chief scientific officer.

"Our rationale for choosing to collaborate with Luminary Tx is due to their non-viral approach for clinical development with our BAFF target," said Michael Haag, Case Western Reserve’s executive director of Technology Management. "We believe that Luminary’s experience and flexibility can move this asset into the clinic faster than other therapeutic companies."

Luminary has an aggressive clinical development plan to initiate two Phase I clinical trials. Jeff Liter, Luminary Tx’s CEO, noted that, "Our development plan focuses on non-viral CAR-T platforms that can speed our time to the clinic well ahead of other virus-based approaches."

In addition to scientific expertise and intellectual property, Luminary is excited to work with CWRU and UH because of the expertise and infrastructure available in the Cellular Therapy Laboratory, an on-site state-of-the-art GMP cell manufacturing facility capable of generating CAR-T cells in an expedited fashion and at reduced cost. UH is also a home to several cell therapy clinical trials led by experienced oncologists at the UH Seidman Cancer Center, part of the NCI-designated Case Comprehensive Cancer Center and the region’s only freestanding cancer hospital.