Novartis investigational STAMP inhibitor asciminib (ABL001) shows superior MMR rate to Bosulif®* in chronic myeloid leukemia trial

On December 8, 2020 Novartis reported thatn Detailed results from the Phase III ASCEMBL study demonstrate that, at 24 weeks, asciminib (ABL001) – a novel investigational treatment specifically targeting the ABL myristoyl pocket (STAMP) – nearly doubled the major molecular response (MMR) rate compared to Bosulif (bosutinib)* (25.5% vs. 13.2%, respectively ([95% CI, 2.19-22.3]; 2-sided P=0.029) in patients with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase (Ph+ CML-CP) previously treated with two or more tyrosine-kinase inhibitors (TKIs)1 (Press release, Novartis, DEC 8, 2020, View Source [SID1234572447]). These data were presented today at a late-breaking abstracts session during the 62nd American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting & Exposition (ASH) (Free ASH Whitepaper).

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"These important comparative data are impressive, and they reinforce the critical role asciminib may play, if approved, in overcoming the treatment challenges we face in later treatment lines of chronic-phase CML," said Dr. Michael J. Mauro**, Member and Myeloproliferative Neoplasms Program Leader at Memorial Sloan Kettering Cancer Center and Professor at Weill Cornell Medicine. "While the advent and expansion of TKI therapies has resulted in tremendous progress for patients living with CML over the last decades, many of our patients in later treatment lines still face inadequate response, disease progression and intolerable side effects."

Despite the significant advances in the CML treatment landscape, many patients treated with two or more TKIs experience intolerance; for example, in an analysis of studies in patients who had previously failed two TKIs, up to 55% reported intolerance to treatment8-13. In addition, resistance rates for patients in later treatment lines remain high; and in the second-line setting, at least three out of five patients are unable to achieve MMR and up to 56% of patients do not achieve complete cytogenetic response (CCyR) within two years of follow-up5,13-18. With few remaining treatment options, and no currently established standard-of-care in the third-line setting per treatment guidelines, patients who are resistant or intolerant to two or more TKIs are at a high risk of progression2-5,19-21.

In the ASCEMBL trial, 233 patients were randomized to receive asciminib 40 mg twice daily (n=157) or Bosulif 500 mg once a day (n=76)1. Data showed that, at 24 weeks, more patients achieved a CCyR in the asciminib arm (40.8%) than in the Bosulif arm (24.2%); and deep molecular response (DMR) rates were higher for patients in the asciminib arm than in the Bosulif arm – with 10.8% and 8.9% patients achieving MR4 and MR4.5 on asciminib, respectively, vs. 5.3% and 1.3% on Bosulif1.

Grade ≥3 adverse events (AEs) occurred in 50.6% and 60.5% of patients treated with asciminib and Bosulif, respectively1. Treatment discontinuation due to AEs in the asciminib arm was 5.8% compared to 21.1% for patients taking Bosulif 1. Similarly, AEs requiring dose interruption and/or dose adjustments were reported less frequently with asciminib than with Bosulif (37.8% vs. 60.5%, respectively)1. At data cutoff, more patients were still on treatment in the asciminib arm vs. the Bosulif arm (61.8% vs. 30.3%, respectively)1.

The most common grade ≥3 AEs (occurring in >10%) of patients treated with asciminib were thrombocytopenia (17.3%) and neutropenia (14.7%), while for Bosulif they were increased alanine aminotransferase (ALT) (14.5%), neutropenia (11.8%) and diarrhea (10.5%)1. On-treatment deaths on the asciminib arm occurred in two (1.3%) patients (ischemic stroke and arterial embolism); there was one (1.3%) death on Bosulif (septic shock)1. The most frequent AEs (all grades; ≥20%) were thrombocytopenia (28.8%) and neutropenia (21.8%) in the asciminib arm, compared to diarrhea (71.1%), nausea (46.1%), increased ALT (27.6%), vomiting (26.3%), rash (23.7%), increased aspartate aminotransferase (21.1%), neutropenia (21.1%) and thrombocytopenia (18.4%) in the Bosulif arm1.

"Though some patients with CML may be told they have a ‘good cancer’ because of the wonderful advances in care that have been made over the years, this doesn’t capture the full picture for everyone with the disease," said Greg Stephens, Executive Director and Founder of the US National CML Society. "The results of the ASCEMBL study are very encouraging to the CML community, and help underscore the crucial need for additional treatment options to address real challenges that patients face."

Pre-clinical data suggests that asciminib has specificity for BCR-ABL22. Additional data accepted for online publication highlight that, as an investigational STAMP inhibitor, asciminib is designed to help overcome mutations on the ATP-binding site of BCR-ABL1, which may help address resistance in later treatment lines of CML and may potentially address off-target activity22.

"Novartis has been at the forefront of CML research for years – significantly changing the prognosis for patients. We are very proud to once again advance a potentially transformative medicine, a novel STAMP inhibitor, for those who do not adequately respond or are intolerant to currently available TKIs," said John Tsai, Head Global Drug Development and Chief Medical Officer, Novartis. "There is a clear need in later lines of therapy, and based on these results, we believe asciminib may become an important new development for patients. We look forward to sharing the data with regulatory authorities and moving forward with submissions worldwide."

The US Food and Drug Administration (FDA) has granted Fast Track designation for asciminib. Submission to the US and EU health authorities is planned for the first half of 2021.

Visit View Source for the latest information from Novartis including our bold approach to reimagining care in hematology, and access to our ASH (Free ASH Whitepaper) Virtual Congress 2020 symposia and data presentations (for registered participants).

About asciminib (ABL001)
Asciminib (ABL001) is an investigational treatment specifically targeting the ABL myristoyl pocket (STAMP). As a STAMP inhibitor, asciminib may help address tyrosine-kinase inhibitor (TKI)-resistance and intolerance in later treatment lines of chronic myeloid leukemia (CML), and it is being studied in several clinical trials in hopes of helping patients across multiple treatment lines of CML23-30.

About ASCEMBL
ASCEMBL is a Phase III, multicenter, open-label, randomized study comparing the oral investigational treatment asciminib (ABL001) versus bosutinib in patients with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase (Ph+ CML-CP) previously treated with two or more tyrosine-kinase inhibitors (TKIs)1. Patients with failure or intolerance to the most recently administered TKI therapy were included in the trial1.

About Novartis Commitment to CML
Our ongoing research in Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) has helped transform the disease from a fatal leukemia to a chronic condition in most patients. Novartis maintains an unwavering commitment to scientific innovation and access to care for patients worldwide. As an organization committed to patients, Novartis continues to reimagine CML care by pursuing ambitious goals with courage, passion and commitment for the global CML community.

Lilly Confirms Date and Conference Call for 2021 Financial Guidance Announcement

On December 8, 2020 Eli Lilly and Company (NYSE: LLY) reported that it will announce its financial guidance for 2021 on Tuesday, December 15, 2020 (Press release, Eli Lilly, DEC 8, 2020, View Source [SID1234572446]). Lilly will also conduct a conference call on that day with the investment community and media to further detail the company’s financial guidance.

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The conference call will begin at 8:30 a.m. Eastern time. Investors, media and the general public can access a live webcast of the conference call through a link that will be posted on Lilly’s website at View Source A replay will also be available on the website following the conference call.

Silverback Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

On December 8, 2020 Silverback Therapeutics, Inc. (Nasdaq: SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, reported the closing of its previously announced initial public offering of 13,225,000 shares of its common stock, which includes 1,725,000 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares, at a price to the public of $21.00 per share (Press release, Silverback Therapeutics, DEC 8, 2020, View Source [SID1234572445]). Including the option exercise, the aggregate gross proceeds to Silverback from the offering were approximately $277.7 million, before deducting the underwriting discounts and commissions and offering expenses. The shares began trading on the Nasdaq Global Market on December 4, 2020, under the ticker symbol "SBTX."

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Goldman Sachs & Co. LLC, SVB Leerink and Stifel acted as joint book-running managers for the offering. H.C. Wainwright & Co. acted as the lead manager for the offering.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission (SEC) and became effective on December 3, 2020. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. This offering was made only by means of a written prospectus, forming a part of the effective registration statement. Copies of the final prospectus relating to the initial public offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6132, or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

QIAGEN increases outlook for 2020 and 2021

On December 8, 2020 QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported that it has raised its full-year 2020 outlook for growth of net sales and adjusted earnings per share (EPS) and is looking forward to another strong performance in 2021 (Press release, Qiagen, DEC 8, 2020, View Source [SID1234572444]).

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These results are expected to be driven by QIAGEN’s focus on five pillars of growth that leverage differentiated testing solutions used in highly attractive, growing markets involving Life Sciences and Molecular Diagnostics customers.

"2020 has demonstrated QIAGEN employees worldwide stepping up to deal with demanding changes. We have responded to the demands of the COVID-19 pandemic by launching novel testing solutions and ramping up production capacity," said Thierry Bernard, Chief Executive Officer of QIAGEN N.V. "As we finish 2020 with an improved outlook, we have confidence in our future and in the benefits of our unwavering focus on our five pillars of growth. We expect another strong performance in 2021, balancing investments in our portfolio to create new organic long-term growth opportunities with improved near-term earnings to deliver significant value creation."

Roland Sackers, Chief Financial Officer of QIAGEN N.V., said: "QIAGEN has developed a solid foundation for continued financial success. This is reflected in our solid outlook for 2020 and 2021, along with expectations for double-digit CER net sales growth post-COVID from our non-COVID products. We have also reaffirmed our disciplined capital allocation strategy, anchored by our commitment to invest in our business and increase returns to shareholders."

Additionally, QIAGEN announced today that its Supervisory Board plans to expand the number of members from the current level of six. The Board intends to further diversify, complement and increase its already extensive expertise and experience in the Life Sciences and diagnostics.

QIAGEN is planning to hold a Virtual Deep Dive on Tuesday, December 8, from 16:30-19:00 CET / 10:30-13:00 EST. This webcast will feature top executives and be led by Thierry Bernard and Roland Sackers, who will provide a strategic and financial update. More details about the event are available via the Investor Relations section on www.qiagen.com.

Increased outlook for Q4 2020, full-year 2020 and full-year 2021 results

QIAGEN now expects net sales for the fourth quarter of 2020 to grow at least 32% at constant exchange rates (CER) from $413.5 million in the same period of 2019, and for adjusted EPS to increase to approximately $0.64-0.65 CER from $0.48 in the year-ago quarter.

QIAGEN also now expects full-year 2020 net sales to grow approximately 22% CER from $1.53 billion in 2019, and for adjusted EPS to increase to $2.13-2.14 CER from $1.43 in 2019.

These strong trends are expected to continue into 2021. QIAGEN now expects full-year 2021 net sales to grow 18-20% CER from the midpoint of the anticipated range for full-year 2020 net sales results. Adjusted EPS is now expected to be $2.42-2.46 CER. These results include significant investments planned for R&D and clinical trials to strengthen the competitive profile of QIAGEN’s five pillars of growth. In particular, these include initiatives to enlarge the test menu for the NeuMoDx and QIAstat-Dx systems in the U.S. and Europe.

QIAGEN plans to maintain or take a top leadership position in these areas identified as the five pillars of growth: (1) Sample technologies used to gain nucleic acids from biological samples; (2) QuantiFERON for immune response testing, especially tuberculosis (TB); (3) the integrated PCR system NeuMoDx; (4) the QIAstat-Dx syndromic testing solution; and (5) the QIAcuity digital PCR portfolio.

Delcath Systems Announces Proposed Public Offering of Common Stock

On December 8, 2020 Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of rare primary and metastatic cancers of the liver, reported that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering (Press release, Delcath Systems, DEC 8, 2020, View Source [SID1234572443]). All of the shares of common stock to be sold in the offering will be offered by Delcath. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Delcath also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold in the public offering.

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Delcath intends to use the net proceeds from this offering for (i) the completion of its FOCUS Clinical Trial for Patients with Hepatic Dominant Ocular Melanoma (the "Focus Trial"), a global registration clinical trial that is investigating the primary endpoint of objective response rate, as well as other secondary and exploratory endpoints, in metastatic ocular melanoma, or mOM; (ii) preparation of the federal regulatory application for the HEPZATO KIT (melphalan hydrochloride for injection/hepatic delivery system), or HEPZATO, a drug/device combination product regulated as a drug, designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects; (iii) preparation for the commercial launch of HEPZATO; (iv) continued clinical development, including additional indications and expanded access trials in metastatic ocular melanoma; and (v) general corporate purposes, which may include capital expenditures and other operating expenses.

Canaccord Genuity and Roth Capital Partners are acting as joint book-running managers for the proposed offering.

A shelf registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on December 21, 2018. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement, which will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110, by telephone at (617) 371-3900 or by email at [email protected] or Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, or by telephone at (800) 678-9147.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.