Precision BioSciences Announces Closing of Underwritten Offering of Common Stock

On June 27, 2022 Precision BioSciences, Inc. (Nasdaq: DTIL) (the "Company"), a clinical stage gene editing company developing ARCUS-based ex vivo allogeneic CAR T and in vivo gene editing therapies, reported the closing of an underwritten offering of 35,971,224 shares of its common stock at an offering price of $1.39 per share, for total gross proceeds of approximately $50 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company (Press release, Precision Biosciences, JUN 27, 2022, View Source [SID1234616267]). All of the shares of common stock were offered by the Company. The Company intends to use the net proceeds of the offering to help fund ongoing and planned research and development, and for working capital and general corporate purposes.

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The offering included new investors, including Great Point Partners, LLC, EcoR1 Capital, Heights Capital Management, Sphera Healthcare and Altium Capital, as well as participation from existing stockholders, including Cowen Healthcare Investments and Sio Capital Management.

With the proceeds from this offering, the $25 million equity purchased by Novartis at $2.01 per share and the pending receipt of $50 million upfront cash payment from Novartis, Precision expects that existing cash and cash equivalents, expected operational receipts, and available credit will be sufficient to fund its operating expenses and capital expenditure to year end 2024.

Jefferies acted as sole book-running manager for the offering.

The securities described above were offered by means of a prospectus supplement dated June 21, 2022, and accompanying prospectus dated June 11, 2020, forming part of the Company’s effective shelf registration statement (File No. 333-238857). The prospectus supplement and accompanying prospectus relating to this offering were filed with the U.S. Securities and Exchange Commission (the "SEC") and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, via telephone: 877-821-7388 or via email: [email protected].

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

Novo Nordisk A/S – Share repurchase programme

On June 27, 2022 Novo Nordisk reported that initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Rules") (Press release, Novo Nordisk, JUN 27, 2022, View Source [SID1234616266]). This programme is part of the overall share repurchase programme of up to DKK 24 billion to be executed during a 12-month period beginning 2 February 2022.

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Under the programme initiated 3 May 2022, Novo Nordisk will repurchase B shares for an amount up to DKK 4.4 billion in the period from 4 May 2022 to 2 August 2022.

Since the announcement 20 June 2022, the following transactions have been made:

The details for each transaction made under the share repurchase programme are published on novonordisk.com.

With the transactions stated above, Novo Nordisk owns a total of 15,196,381 B shares of DKK 0.20 as treasury shares, corresponding to 0.7% of the share capital. The total amount of A and B shares in the company is 2,280,000,000 including treasury shares.

Novo Nordisk expects to repurchase B shares for an amount up to DKK 24 billion during a 12- month period beginning 2 February 2022. As of 24 June 2022, Novo Nordisk has since 2 February 2022 repurchased a total of 13,456,818 B shares at an average share price of DKK 757.99 per B share equal to a transaction value of DKK 10,200,072,660

HUTCHMED to Announce 2022 Half-Year Financial Results

On June 27, 2022 HUTCHMED (China) Limited ("HUTCHMED") (Nasdaq/AIM: HCM; SEHK:13) reportec that it will be announcing its interim results for the six months ended June 30, 2022 on Monday, August 1, 2022 at 7:00 am Eastern Daylight Time (EDT) / 12:00 noon British Summer Time (BST) / 7:00 pm Hong Kong Time (HKT) (Press release, Hutchison China MediTech, JUN 27, 2022, View Source [SID1234616265]).

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

The conference call and audio webcast will take place at 8:00 am EDT / 1:00 pm BST / 8:00 pm HKT on Monday, August 1, 2022 and will be webcast live via the company website at www.hutch-med.com/event/. 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.

Corporate Presentation

On June 27, 2022 Aptose Biosciences Presented the Corporate Presentation (Presentation, Aptose Biosciences, JUN 27, 2022, View Source [SID1234616264]).

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Relay Therapeutics Discloses Anticipated Registrational Path for RLY-4008 in Cholangiocarcinoma and Growing Breast Cancer Franchise at Virtual Analyst and Investor Event

On July 27, 2022 Relay Therapeutics, Inc. (Nasdaq: RLAY) a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, reported the anticipated registrational path for RLY-4008 and three new programs within a growing HR+/HER2- breast cancer franchise at a virtual analyst and investor event from 8:00 a.m. to 9:00 a.m. ET (Press release, Relay Therapeutics, JUN 27, 2022, View Source [SID1234616263]).

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"2022 has proven to be an extremely productive year so far for Relay Therapeutics and we’re looking forward to sharing updates across our portfolio today," said Sanjiv Patel, M.D., Relay Therapeutics’ president and chief executive officer. "We are excited to be announcing the anticipated registrational path for RLY-4008 and the maturation of the data to support that pathway. In addition, building on the foundation of our PI3Kα franchise, we will outline a broad commitment to developing comprehensive treatment options for breast cancer patients. We believe our platform and approach have the potential to address some of the hardest-to-treat diseases and are excited to do just that in the coming years."

RLY-4008 Regulatory and Clinical Data Update

Relay Therapeutics conducted an end-of-phase 1 meeting with the FDA to discuss next steps for the clinical development of RLY-4008. Based on discussions with the FDA, the Company has decided to move forward with a single arm trial design for FGFRi-naïve FGFR2-fusion CCA at 70 mg once daily to potentially support accelerated approval. The Company also intends to add additional supportive CCA cohorts to an NDA submission, including frontline, FGFRi-experienced and FGFR2 mutation and amplification patients that could potentially facilitate a line and alteration agnostic label if the submission is approved.

The interim data shared with the FDA included a data cut-off of April 19, 2022, from the dose escalation portion of the ongoing study. The interim data included a safety database of 115 patients, with 58 patients treated with the once daily (QD) dosing schedule, and 13 of these patients were FGFRi-naïve FGFR2-fusion CCA patients treated with the once daily schedule ranging from 20 mg up to 70 mg. Also, in addition to the 17 patients previously disclosed at a twice daily (BID) schedule, an additional 40 patients were evaluated with an intermittent dosing schedule, both of which have been deprioritized.

The safety analysis as of the April 19, 2022 cut-off date was consistent with the analysis from the initial October 2021 data disclosure. Most treatment emergent adverse events were expected FGFR2 on target, low-grade, monitorable, manageable, and largely reversible. There were no observed Grade 4 or 5 adverse events. Notable off-target toxicities of hyperphosphatemia and diarrhea continued to be clinically insignificant.

The efficacy analysis from this interim data on the once daily dosing schedule presented to the FDA demonstrated confirmed partial responses in eight out of thirteen (62%) FGFRi-naïve FGFR2-fusion CCA patients across the 20 mg to 70 mg QD cohorts. There were four patients treated at the registrational trial dose of 70 mg QD as of the April 19, 2022 cut-off date, all of which had confirmed partial responses.

An update from the FGFRi-naïve FGFR2-fusion CCA patients treated at 70 mg QD across dose escalation and expansion is expected to be presented at a medical meeting in the second half of 2022. The entirety of the dose escalation data is expected to be presented at a medical meeting or published by the end of the first half of 2023. Lastly, initial data from the non-CCA expansion cohorts is expected to be presented in 2023.

Breast Cancer Portfolio and New Targets

Relay Therapeutics today disclosed three new programs from a growing breast cancer franchise including a selective CDK2 inhibitor, a rationally designed ERα degrader, and a chemically distinct pan-mutant selective PI3Kα inhibitor (RLY-5836).

CDK2 is a common cause of resistance to the over 50,000 patients a year in the U.S. on CDK4/6 inhibitors and potentially an important PI3Kα combination partner. Relay Therapeutics progressed from first compound synthesized to an advanced CDK2 lead compound with robust selectivity over other CDK family members in less than a year. This program is expected to enter the clinic in Q4 2023 or Q1 2024.
Leveraging the Dynamo platform, Relay Therapeutics has been able to move from the traditional empirical design of bi-functional degraders to rationally designed molecules. The company expects to nominate an ERα degrader development candidate in 2023.
As a demonstration of Relay Therapeutics’ commitment to PI3Kα mutant inhibition, the Company has designed a selective and chemically distinct pan-mutant PI3Kα inhibitor, RLY-5836. RLY-5836 is expected to be ready to enter the clinic in 2023.
Conference Call Information

Relay Therapeutics will host a live webcast and conference call today beginning at 8:00 am E.T. The virtual analyst and investor event will be webcast live and may be accessed through Relay Therapeutics’ website under Events in the News & Events section through the following link: View Source An archived replay of the webcast will be available following the event.

About RLY-4008

RLY-4008 is a potent, selective and oral small molecule inhibitor of FGFR2, a receptor tyrosine kinase that is frequently altered in certain cancers. FGFR2 is one of four members of the FGFR family, a set of closely related proteins with highly similar protein sequences and properties. Preclinically, RLY-4008 demonstrated FGFR2-dependent killing in cancer cell lines and induced regression in in vivo models, while minimal inhibition of other targets was observed, including other members of the FGFR family. In addition, RLY-4008 demonstrated strong activity against known clinical on-target resistance mutations in cellular and in vivo preclinical models. RLY-4008 is currently being evaluated in a clinical trial in patients with advanced or metastatic FGFR2-altered solid tumors with a single arm, potentially registration-enabling cohort for pan-FGFR ("FGFRi") treatment-naïve FGFR2-fusion CCA. To learn more about the clinical trial of RLY-4008, please visit here.