Akari Therapeutics to Participate in Two January Virtual Investor Conferences

On January 6, 2021 Akari Therapeutics, Plc (Nasdaq: AKTX), a late-stage biopharmaceutical company focused on innovative therapeutics to treat orphan autoimmune and inflammatory diseases where complement (C5) and/or leukotriene (LTB4) systems are implicated, reported that Clive Richardson, Chief Executive Officer, will participate in the following two upcoming virtual investor conferences (Press release, Akari Therapeutics, JAN 6, 2021, View Source [SID1234573545]).

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Conference: H.C. Wainwright BioConnect Conference

Date & Time: The Company’s presentation will be available on demand starting January 11, 2021 through the Company’s website.

Conference: ICR Conference 2021

Date & Time: Thursday, January 14, 2021 at 10:00 a.m. ET.

Investors interested in arranging a virtual meeting with the Company’s management during the ICR Conference 2021 should contact the ICR conference coordinator or [email protected]. Webcasts of both presentations will be available by visiting ‘Events’ in the Investor Relations section on the Company’s website at www.akaritx.com.

Aileron Therapeutics Announces $35.9 Million Registered Direct Offering

On January 6, 2021 Aileron Therapeutics, Inc. (Nasdaq: ALRN), reported that it has entered into definitive agreements with fundamental healthcare investors for the purchase and sale of 32,630,983 of its shares of common stock at a purchase price of $1.10 per share in a registered direct offering priced at-the-market under Nasdaq rules (Press release, Aileron Therapeutics, JAN 6, 2021, View Source [SID1234573543]). The closing of the offering is expected to occur on or about January 8, 2021, subject to the satisfaction of customary closing conditions.

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JonesTrading Institutional Services LLC ("JonesTrading") is acting as the placement agent for the offering.

The gross proceeds to Aileron from the offering are expected to be $35.9 million, before deducting the placement agent’s fees and other offering expenses payable by Aileron.

Aileron intends to use the net proceeds from the public offering, together with its existing cash, cash equivalents and short-term investments, to fund clinical development of ALRN-6924 as a chemoprotective agent and for working capital and other general corporate purposes.

The shares are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-226650) that was filed with the United States Securities and Exchange Commission ("SEC") on August 7, 2018, and declared effective by the SEC on July 15, 2019. A prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. The offering is being made only by means of a prospectus and related prospectus supplement. When available, electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained from JonesTrading Institutional Services LLC by calling (212) 907-5332, or by e-mailing [email protected].

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

Infinity Pharmaceuticals Provides Update for Eganelisib in Patients with Metastatic Urothelial Cancer

On January 6, 2021 Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) reported an update on MARIO-275, the Company’s randomized, placebo controlled Phase 2 study evaluating the benefit of adding eganelisib to nivolumab (Opdivo) in platinum-refractory, I/O naïve patients with advanced, metastatic urothelial cancer (mUC) over nivolumab monotherapy which is approved in this setting (Press release, Infinity Pharmaceuticals, JAN 6, 2021, View Source [SID1234573541]).

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"The MARIO-275 study provided Infinity with important insights to shape the future of eganelisib in urothelial cancer," said Adelene Perkins, Chief Executive Officer and Chair of Infinity Pharmaceuticals. "The data from the 49 patients enrolled in the study are very encouraging. The combination was well tolerated at the 30 mg dose of eganelisib and provided patient benefit relative to the placebo controlled arm on important response rate and progression free survival measures, particularly in urothelial cancer patients with low levels of PD-L1 expression who respond poorly to checkpoint inhibitors alone. We are leveraging the clinical and translational learnings from MARIO-275 in planning a new, registration-enabling study of eganelisib in patients with advanced urothelial cancer. We look forward to presenting our data from MARIO-275, which support our clinical strategy, at a major medical meeting in Q1 2021, with details for our new, planned trial to follow in the coming months after discussions with regulatory authorities."

Encouraging data including in post-CPI progression and PD-L1 low patients was presented at The Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) in November and the San Antonio Breast Cancer Symposium (SABCS) in Q4 2020.

Program Updates and Guidance:

MARIO-275

The MARIO-275 Independent Data Monitoring Committee (IDMC) determined that there was a favorable risk/benefit for patients after the successful implementation of a dose reduction from 40mg QD to 30mg QD to reduce the reversible liver enzyme elevations that were reported after the first scheduled MARIO-275 IDMC meeting.
Infinity has completed the evaluation of the 49 patients enrolled in the study with encouraging safety, response rate and progression free survival (PFS) data, including in patients with low levels of PD-L1 expression.
Infinity will be presenting the MARIO-275 data at a major medical meeting in Q1 2021.
As a result of the encouraging data, the Company is planning a new registration-enabling study and will not re-open enrollment in MARIO-275.
MARIO-3

Data was presented at SABCS in December which showed the benefit of adding eganelisib to standard of care Tecentriq and Abraxane therapy for front-line TNBC patients.
Progression-free survival and updated overall response rate data for TNBC will be presented in 1H and 2H of 2021.
Renal cell carcinoma data to be presented in 1H 2022.
2021 Financial Guidance

Infinity ended 2020 with approximately $34.1 million in cash and investments (unaudited) and plans to report its fourth quarter and full-year 2020 financial results in March. The Company expects to have cash through 2021 based on its current operating plans, which excludes additional financing or business activities, and excludes a potential $5 million milestone payment from BVF for positive Phase 3 patidegib data and any milestones from, or the sale of the Company’s equity interest in, PellePharm.

Abbott Hosts Conference Call for Fourth-Quarter Earnings

On January 6, 2021 Abbott (NYSE: ABT) reported that it will announce its fourth-quarter 2020 financial results on Wednesday, Jan. 27, 2021, before the market opens (Press release, Abbott, JAN 6, 2021, View Source [SID1234573540]).

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The announcement will be followed by a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), and will be accessible through Abbott’s Investor Relations website at www.abbottinvestor.com. An archived edition of the call will be available later that day.

TRACON Pharmaceuticals to Present at the H.C. Wainwright Virtual BioConnect 2021 Conference

On January 6, 2021 TRACON Pharmaceuticals (NASDAQ: TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics and utilizing a cost efficient, CRO-independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the U.S., reported that Charles Theuer, M.D., Ph.D., President and Chief Executive Officer, will present a corporate overview at the H.C. Wainwright Virtual BioConnect 2021 Conference, being held January 11-14, 2021 (Press release, Tracon Pharmaceuticals, JAN 6, 2021, View Source [SID1234573539]).

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The presentation will be available on-demand beginning on Monday, January 11, 2021, in the Investors section on the Company’s website at www.traconpharma.com.