Veracyte Announces Preliminary Fourth Quarter and Full-Year 2020 Financial Results

On February 3, 2021 Veracyte, Inc. (Nasdaq: VCYT) reported preliminary results for the fourth quarter and full year ended December 31, 2020 (Press release, Veracyte, FEB 3, 2021, View Source [SID1234574533]).

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The company expects to report total revenue of between $34.0 million and $35.0 million and product and testing volume of between 13,000 and 13,200 tests for the fourth quarter ended December 31, 2020, an increase of 16% and 14% at the midpoint of the range, respectively, compared to the fourth quarter of 2019. The company expects to report total revenue of between $117.0 million and $118.0 million and product and testing volume of between 44,400 and 44,600 tests for the full year ended 2020, compared to $120.4 million and 40,292 tests for full-year 2019. In addition, the company expects to report cash and cash equivalents of between $345.0 million and $350.0 million as of December 31, 2020.

"We continued the strong rebound in our business during the fourth quarter, with revenue and genomic testing and product volume exceeding pre-pandemic levels," said Bonnie Anderson, Veracyte’s chairman and chief executive officer. "Moreover, I am incredibly proud of our team’s performance throughout 2020 as we advanced our vision of improving outcomes for patients all over the world at every step of their journey. With our comprehensive menu of advanced genomic tests that address unmet needs across the care continuum, our platform for serving global markets and our robust pipeline, we believe we are well-positioned for long-term, sustained growth."

The preliminary revenue and cash information presented in this press release is based on Veracyte’s current expectations, is unaudited and may be adjusted as a result of, among other things, the completion of Veracyte’s quarterly and annual financial closing procedures and audit by Veracyte’s independent registered public accounting firm. Actual results may differ materially from those disclosed in this press release. Veracyte will report its full financial results and other metrics during its fourth quarter and full-year 2020 financial results later this month.

GSK delivers FY 2020 reported sales of £34 billion, +1% AER, +3% CER and Adjusted EPS of 115.9p, -6% AER, -4% CER, in line with guidance; Total EPS 115.5p, +23% AER

On February 3, 2021 GlaxoSmithKline reported that Strong growth of new and specialty products; on track to deliver two exciting new companies (Press release, GlaxoSmithKline, FEB 3, 2021, View Source [SID1234574532])

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Strong sales performance from key growth drivers in HIV, Respiratory, Oncology and Consumer Healthcare offset disruption from COVID-19 to adult vaccinations
Pharmaceuticals £17 billion -3% AER, -1% CER; new and specialty products £9.7 billion +11% AER, +12% CER
Vaccines £7 billion -2% AER, -1% CER. Shingrix £2 billion +10% AER, +11% CER
Consumer Healthcare £10 billion +12% AER, +14% CER (pro-forma -2% CER*)
New Biopharma product portfolio strengthened with 9 approvals in 2020 and Cabenuva in the US in January 2021
Effective cost control supports delivery of adjusted earnings per share in line with FY 2020 guidance
Total Group operating margin 22.8%. Total EPS 115.5p +23% AER, +26% CER
Adjusted Group operating margin 26.1%. Adjusted EPS 115.9p -6% AER, -4% CER
Q4 net cash flow from operations £4 billion. Free cash flow £3 billion
Significant progress on Biopharma pipeline with over 20 assets now in late-stage clinical trials
20+ new product launches planned by 2026, 10+ with potential peak annual revenues in excess of $1 billion
Pivotal study starts/data expected in 2021 for RSV vaccine in older adults, COVID-19 assets, long-acting anti IL-5 antagonist, daprodustat and dostarlimab
Oncology momentum building: 15 potential medicines in trials, including 9 immuno-oncology and 3 cell therapies
20+ deals executed, including acquisitions of new antibody, mRNA and genetics/genomics technologies
On track for separation into new standalone Biopharma and Consumer Healthcare companies in 2022
2020 targets met with £0.3 billion annual cost savings and £1.1 billion divestment proceeds achieved
Biopharma investor update in June to set out progress on innovation, commercial execution and growth outlook together with capital allocation priorities
Sustained progress and leadership in ESG
Sector leading in key indices, including DJSI and Sustainalytics, and #1 rank in 2021 Access to Medicines Index
New environmental targets set to achieve net zero impact on climate and net positive impact on nature by 2030
2021 Adjusted EPS expected to decline by a mid to high-single digit percentage in CER
Reflects further growth in new and specialty products and Consumer Healthcare, increased investment in our pipeline and deferral of strong growth in Vaccines performance due to impact of COVID-19 immunisation programmes
2022 outlook remains unchanged. Continue to expect meaningful improvement in revenues and margins
Dividend of 23p/share declared for Q4 2020; 80p/share for FY 2020. Expected dividend of 80p/share for FY 2021
Distribution policy for new GSK to be implemented in 2022 to support growth and investment. Aggregate distributions expected to be lower than at present
Emma Walmsley, Chief Executive Officer, GSK said:
"2020 was an extraordinary year for all of us, and one of significant ogress for GSK. We invested in our pipeline and new launches, readied the company for separation, and had to rapidly mobilise and respond to the pandemic. I am extremely proud of the agility and resilience our teams have shown. We delivered our guidance for the year, offsetting the significant impact of COVID-19 on adult vaccinations, with strong performances of new products and effective cost control.

"Importantly, progress against our strategic goals remains firmly on track. We are building a high value biopharma pipeline, have substantially integrated our Consumer JV and have delivered all our first year targets for our two year separation programme. This means we are in a strong position to launch new competitive, standalone Biopharma and Consumer healthcare companies in 2022. In doing so, we have high confidence that we can achieve meaningful global impact to health and significant value creation for shareholders."

Chi-Med to Announce 2020 Final Results

On February 3, 2021 Hutchison China MediTech Limited ("Chi-Med") (Nasdaq/AIM: HCM) reported that it will be announcing its final results for the year ended December 31, 2020 on Thursday, March 4, 2021 at 12:00 noon Greenwich Mean Time (GMT) / 8:00 pm Hong Kong Time (HKT) / 7:00 am Eastern Standard Time (EST) (Press release, Hutchison China MediTech, FEB 3, 2021, https://www.chi-med.com/chi-med-to-announce-2020-final-results/ [SID1234574531]).

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Analysts and investors are invited to join a conference call and audio webcast presentation with Q&A, conducted by Chi-Med management.

The conference call and audio webcast will take place at 1:00 pm GMT / 9:00 pm HKT / 8:00 am EST on Thursday, March 4, 2021 and will be webcast live via the company website at www.chi-med.com/investors/event-information/. The presentation will be available for downloading before the conference call begins. Details of the conference call dial-in will be provided in the financial results announcement and on the company website. A replay will also be available on the website shortly after the event.

Innate Pharma to host key opinion leader discussion on the potential role of lacutamab across T-cell lymphomas

On February 3, 2021 Innate Pharma SA (Euronext Paris: IPH – ISIN: FR0010331421; Nasdaq: IPHA) ("Innate" or the "Company") reported that it will host a virtual key opinion leader (KOL) discussion focused on the potential role of its lead investigational drug candidate, lacutamab, an anti-KIR3DL2 cytotoxicity-inducing antibody in development for T-cell lymphomas (Press release, Innate Pharma, FEB 3, 2021, View Source [SID1234574530]). The event will be held virtually on Tuesday, February 9, 2021 at 2:00 p.m. CET / 8:00 a.m. ET.

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The event will feature presentations from the Company’s executive leadership team, as well as the following KOLs:

Pierluigi Porcu, M.D., Professor of Medical Oncology, Dermatology and Cutaneous Biology and Director, Division of Hematologic Malignancies and Hematopoietic Stem Cell Transplantation at Thomas Jefferson University, US; Principal Investigator of Innate’s Phase 2 TELLOMAK clinical trial, which is evaluating lacutamab in mycosis fungoides and Sézary syndrome; and
Olivier Hermine, M.D., Professor of Hematology at the University of Paris Descartes and Director, Division of Adult Hematology at Hôpital Universitaire Necker Enfants Malades, Member of the Académie des Sciences, Member of the Lymphoma Study Association (LYSA), France
Presenters will provide an overview of the treatment landscape and prevalence of the lacutamab target, KIR3DL2, across subtypes of T-cell lymphoma. They will also highlight the potential impact of lacutamab in current and upcoming clinical programs in cutaneous and peripheral T-cell lymphomas.

Details for the Virtual Event

The live webcast of the event will be available at the following link:
View Source

A telephone number will also be made available. Participants may register in advance of the event at View Source Upon registration, participants will be provided with dial-in numbers, a direct event passcode and a unique registrant ID that they may use 10 minutes prior to the event start to access the call. Call reminders will also be sent to registered participants via e-mail the day prior to the event.

A replay of the webcast will be archived on Innate’s website for 90 days following the event.

This information can also be found in the Investors section of the Innate website, www.innate-pharma.com.

About Lacutamab:
Lacutamab (IPH4102) is a first-in-class anti-KIR3DL2 humanized cytotoxicity-inducing antibody, which is currently in clinical trials for treatment of cutaneous T-cell lymphoma (CTCL), an orphan disease. This group of rare cutaneous lymphomas of T lymphocytes has a poor prognosis with few efficacious and safe therapeutic options at advanced stages.

KIR3DL2 is an inhibitory receptor of the KIR family, expressed by approximately 65% of patients across all CTCL subtypes and expressed by up 90% of patients with certain aggressive CTCL subtypes, in particular, Sézary syndrome. It is expressed by up to 50% of patients with peripheral t-cell lymphoma (PTCL). It has a restricted expression on normal tissues.

MAIA Biotechnology, Inc. Announces Clinical Supply Agreement with Regeneron for Phase 1/2 Clinical Trial Evaluating THIO in Sequential Administration with Libtayo® (cemiplimab) in Advanced Non-Small Cell Lung Cancer

MAIA Biotechnology, Inc., a targeted therapy, immuno-oncology company focused on development of first-in-class oncology drugs, reported that a clinical supply agreement with Regeneron Pharmaceuticals, Inc. (REGN) to evaluate THIO (aka 6-thio-dG) followed by the PD-1 inhibitor Libtayo (cemiplimab), in a Phase 1/2 clinical trial in second-line or later advanced non-small cell lung cancer (NSCLC) patients who have progressed following treatment with standard-of-care regimen that includes a checkpoint inhibitor. This clinical trial will evaluate the safety and efficacy of four dose levels of THIO, the only telomere-by-telomerase targeting agent in development for the treatment of cancer, followed by Libtayo. The lead-in portion of the study will initially assess the safety and immunogenic effects of each of the THIO doses and overall response rate (ORR) as the basis for potentially expanding individual patient cohorts and evaluation in other cancer types. The Phase 1/2 clinical trial is expected to begin enrolling patients in 2021.

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We are excited for the opportunity to partner with Regeneron on our planned clinical trial of THIO and believe this collaboration to be validating of the program’s potential to transform both the immuno-oncology landscape and the cancer treatment paradigm," stated Vlad Vitoc, MD, MAIA’s Chief Executive Officer and President. "Notably, THIO has a well-demonstrated clinical safety profile at varying dosage levels and in preclinical results, low-dose THIO followed by immunotherapy has shown complete elimination of advanced tumors with no indication of treatment limiting toxicity. The efficacy results of this trial are expected to support the continued development of THIO in NSCLC and potentially its expansion to treat a vast array of other cancers. Based on our extensive preclinical experience, we believe that THIO may transform immunologically ‘cold’ tumors into ‘hot’, rendering them responsive to standard-of-care immuno-oncology therapies, and potentially improving their effectiveness."

Under the terms of the collaboration, MAIA will sponsor and fund the planned clinical trial and Regeneron will provide Libtayo. MAIA maintains global development and commercial rights to THIO and is free to develop the program in combination with other agents outside of NSCLC.

"At Regeneron, we seek opportunities to explore cutting-edge approaches to cancer treatment with other healthcare innovators who have complementary expertise," said Israel Lowy, M.D., Ph.D., Senior Vice President, Translational and Clinical Sciences, Oncology, at Regeneron. "Priming tumors with THIO before Libtayo treatment is a novel approach that may enhance and extend the potential benefits of immunotherapy for patients with advanced non-small cell lung cancer, and we look forward to seeing if the positive pre-clinical results that MAIA has published will translate to the clinic."

THIO followed by Libtayo for the treatment of advanced non-small cell lung cancer is currently under clinical development, and the safety and efficacy of THIO or its administration with Libtayo have not be reviewed by any regulatory authorities. Libtayo is being jointly developed by Regeneron and Sanofi. MM Dillon & Co. acted as advisors to MAIA Biotechnology, Inc.

About the Phase 1/2 Clinical Trial

This trial will be the first to test THIO’s immune system activation followed by administration of the checkpoint inhibitor Libtayo, allowing for the immune activation and PD-1 sensitivity to take effect. The trial will test the hypothesis that lower doses of THIO administered prior to Libtayo treatment would enhance and prolong responses in subjects with advanced NSCLC who did not respond or progressed after first-line treatment with a checkpoint inhibitor.

The initial part of the trial will assess both the safety, mechanistic activity and immune system activation of four THIO dose levels, each in separate arms. Each dosing arm will then be evaluated further for efficacy based on Overall Response Rate (ORR), Duration of Response (DoR), Progression Free Survival (PFS) and Overall Survival (OS). Additional patients may be recruited for further clinical evaluation in any of the THIO arm(s) based on safety and clinical benefit. A total of up to 40 evaluable patients will be enrolled in each of the arms of the trial.

About Non-small Cell Lung Cancer

Lung cancer is the leading cause of cancer death worldwide, In 2020, more than 2.2 million and 228,000 new cases were estimated to have been diagnosed globally and in the U.S., respectively. Approximately 85% of all lung cancers are NSCLC, and an estimated 80% of these cases are telomerase positive [TERT(+)]. While immunotherapies have transformed advanced NSCLC treatment in recent years, there remains a significant unmet need to optimize treatment of patients and offer additional clinical options.

About THIO

THIO (aka 6-thio-dG, 6-thio-2’-deoxyguanosine) is a first-in-class small molecule that is the only telomere-by-telomerase targeting agent currently in development. THIO selectively kills cancer cells by modifying telomeric DNA structure and function utilizing telomerase. Telomerase is present in >85% of human cancers and contributes significantly to the proliferation and reproductive immortality of cancer cells. THIO’s activity was shown to be cancer-specific in tumor types with active telomerase. THIO is recognized by telomerase and incorporated into telomeres selectively in cancer cells. Once incorporated, it compromises the telomere structure and function, leading to ‘uncapping’ of the chromosome ends and thus resulting in rapid tumor cell death. Low doses of THIO, followed by anti-PD-L1 or anti-PD1 therapy, completely eliminated advanced tumors in preclinical models and produced cancer cell specific immune memory, where the immune system continued to be active against the cancer cells after extended periods of time, with no additional treatment. These results demonstrate how the THIO-produced telomere stress increases innate sensing and adaptive anti-tumor immunity, which provides a strong rationale for sequentially combining telomere-targeted therapy with immunotherapy. THIO is investigational and has not been approved for any use by regulatory authorities.