CEL-SCI Corporation Announces Phase 3 Multikine® Head and Neck Cancer Results Posted on Clinicaltrials.gov

On August 19, 2022 CEL-SCI Corporation (NYSE American: CVM) reported that the results of its 10-year IT-MATTERS pivotal Phase 3 clinical trial in head and neck cancer with its investigational immunotherapy Multikine* (Leukocyte Interleukin, Injection) have been posted on clinicaltrials.gov per U.S. government requirements (Press release, Cel-Sci, AUG 19, 2022, View Source [SID1234618515]). (See View Source;draw=2&rank=2). Clinicaltrials.gov is the largest clinical trial database in the world. It is run by the U.S. National Library of Medicine at the National Institutes of Health. Some of the trial’s results were published in two peer-reviewed abstracts and a poster at the ASCO (Free ASCO Whitepaper) conference in June 2022. (See View Source) Additional results will be published in scientific journals and presented in scientific forums in the future.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Design of IT-MATTERS Phase 3 Trial

The 928-patient IT-MATTERS study was designed to determine if Multikine provided survival and other clinical benefits to patients suffering from locally advanced primary squamous cell carcinoma of the head and neck (SCCHN), oral cavity and soft-palate. Multikine is a mixture of naturally occurring cytokines that regulate the immune system. Multikine is the first investigational cancer immunotherapy being developed as a first-line neo-adjuvant treatment to be provided to previously untreated locally advanced primary disease SCCHN patients before they receive the SOC. The global IT-MATTERS trial was conducted in 23 countries in accordance with Good Clinical Practices, International Counsel for Harmonization standards, and all other country-specific regulatory requirements.

Following diagnosis, subjects were randomized into one of three treatment arms. In the primary treatment arm (3/7) subjects received three consecutive weeks of treatment with supraphysiologic doses of Multikine injected 5x/wk peritumorally and perilymphatically plus "CIZ" prior to receiving the SOC. (CIZ comprised a non-chemotherapeutic dose of cyclophosphamide (administered one-time only IV-bolus, 3 days prior to the 1st dose of Multikine), and indomethacin and zinc-multivitamins daily from day 1 of Multikine administration to one day before surgery to enhance Multikine activity.) In the second arm (1/7), subjects received the three-week Multikine regimen without CIZ prior to receiving the SOC. In the third arm (3/7), which was study control arm, subjects received only the SOC (with no Multikine or CIZ). Thus, all subjects in the study received the SOC, but some subjects received Multikine before the SOC (the two study treatment arms) and some did not (study control arm). The two main comparator groups in the study were the primary arm (Multikine+CIZ+SOC) and the study control arm (SOC alone).

The SOC for all research subjects was identical and involved a bifurcated treatment path following surgery, i.e., a radiotherapy-only arm and a concurrent chemoradiotherapy arm. To determine which path a patient should take, the treating physicians decided after surgery based on pathology and medical judgment, as guided by the National Comprehensive Cancer Network (NCCN) Guidelines, whether the patient was at a higher risk for tumor recurrence. These patients would receive concurrent chemoradiotherapy. All other patients were classified as lower risk for recurrence and would receive only radiotherapy after surgery.

The "Proposed Indication" for Multikine will be limited by certain eligibility criteria to select patients deemed by NCCN Guidelines for the lower-risk-for-recurrence group. Patients would not meet the eligibility criteria if they present with adverse features that would place them in the higher-risk-for-recurrence group per NCCN Guidelines. Note that the term "lower risk for recurrence" should not be confused with a low risk of death, because the 5-year survival for such patients is still less than 50%, even after receiving the current SOC.

It must also be noted that the bifurcated treatment path described above was not created by CEL-SCI for its study but was, and still is, the SOC per NCCN Guidelines for advanced primary SCCHN patients. Because it would have been unethical to deprive any subjects of the SOC, the only ethical way to have conducted the study was to use the bifurcated SOC following surgery—it would not have been ethically permissible to study Multikine in only one treatment arm at a time (lower-risk or higher-risk only). Furthermore, because it was obvious when the study was designed that Multikine might provide a benefit in only one of the two SOC risk groups, CEL-SCI pre-specified in its original study protocol that analyses of the trial results should take place for all, as well as for each of these groups. Separate analyses of the lower-risk-for-recurrence and higher-risk-for-recurrence treatment arms were also pre-specified in the study’s statistical analysis plan which was completed before data lock and the study result were analyzed.

About 40% of study subjects (n=380) were classified and met the NCCN requirements for having a lower risk of tumor recurrence, and it was in this arm of the study that the vast majority of the objective responders discussed above were observed. It was also observed in this arm that Multikine+CIZ-treated non-responders still saw OS benefit. Thus, when the lower-risk-for-recurrence arm was viewed as a whole (responders plus non-responders together), a statistically significant OS benefit from Multikine was observed overall, which provided a nearly four-year extension of median survival time versus the control.

Using data from the study, CEL-SCI developed eligibility criteria to select, prior to surgery, the patients who would be slated for classification by the NCCN Guidelines as lower-risk-for-recurrence. This distinction currently can be determined only after surgery. Based on the ability to select subjects before surgery who should receive the Multikine treatment, CEL-SCI plans to seek FDA approval for the treatment of locally advanced primary disease SCCHN subjects who would receive Multikine first, then receive surgery, and then receive only radiotherapy, per NCCN Guidelines.

The Proposed Indication represents about 210,000 patients worldwide per year. To CEL-SCI’s knowledge the last medical advance for such patients impacting their overall survival occurred when Methotrexate was approved over 60 years ago. Multikine also received FDA Orphan Drug Designation for the "neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck (SCCHN)." There is thus a clear unmet medical need for improved treatments for these patients.

IT-MATTERS Phase 3 Trial Results Summary

This release summarizes the results recently posted on clinicaltrials.gov for the overall ITT population as well as the subjects constituting the Proposed Indication representing 41.2% of the study overall ITT population. (See View Source;draw=2&rank=2) Please refer to the clinicaltrials.gov presentation of the data for further information on study design and study data.

Objective Responses Before Surgery (partial and complete tumor response per RECIST, confirmed at surgery by pathology): In the overall ITT population, objective responses before surgery (sometimes also called "early responses") were observed in 45 subjects who received Multikine for 3 weeks; no such responses were observed in the SOC alone (control) (p<0.00000001).
Five subjects who received Multikine+CIZ had complete tumor responses confirmed at surgery.
In the overall ITT population (n=923), objective responses were seen in:
8.5% of Multikine-treated subjects (45/529).
8.1% of the Multikine+CIZ treatment arm (32/395).
9.7% of the Multikine without CIZ treatment arm (13/134);
0% of the SOC alone (control) treatment arm (0/394).
In the Proposed Indication (n=380), objective responses were seen in:
16.0% of Multikine-treated subjects (34/212).
15.2% of the Multikine+CIZ treatment arm (24/158).
18.5% of the Multikine without CIZ treatment arm (10/54); and
0% of the SOC alone (control) treatment arm (0/168).
Objective Responses Before Surgery Were Prognostic For Survival with a Significant Decrease in Death Rate:
In the overall ITT population (n=923), the 22.2% death rate among Multikine objective responders before surgery (n=45) was significantly lower (two-sided Fisher Exact test p<0.0001; HR=0.301) than the 54.1% death rate for the remaining Multikine non-responders (n=484);
In the Proposed Indication (n=380):
the 17.6% death rate among all Multikine objective responders before surgery (n=34) was significantly lower (two-sided Fisher Exact test p=0.0067; HR=0.348) than the 42.7% death rate for the remaining Multikine non-responders (n=178).
the 12.5% death rate among Multikine+CIZ objective responders before surgery (n=24) was significantly lower (two-sided Fisher Exact test p=0.0101; HR=0.246) than the 41.0% death rate for the remaining Multikine non-responders (n=134).
Significant OS advantage in the Proposed Indication for the Multikine+CIZ treatment arm versus the SOC control:
5-year absolute OS advantage of 14.1% (62.7% vs 48.6%);
proportional hazards two-sided p=0.0236;
0.68 hazard ratio equating to a 47% OS prolongation; and
3-year and 4-year absolute OS advantage of 4.9% and 9.5%, respectively, are supportive.
In the overall ITT population, no statistically significant OS difference was seen between the two main comparator groups (proportional hazards two-sided p=0.4128). It is believed that the higher-risk-for-recurrence patients in the overall ITT were too sick to tolerate the extra three-weeks before surgery for the Multikine treatment and also that chemotherapy may impair Multikine’s immunological mechanism of action.
Nearly Four-Year Median OS Benefit: In the Proposed Indication, the median OS for those receiving Multikine+CIZ was 101.7 months versus 55.2 months for the control, a survival improvement of almost four years. The Multikine treatment arm without CIZ in the Proposed Indication also had better median OS than control (68.2 months vs. 55.2 months).
Progression-Free Survival (PFS): In the Proposed Indication, there was confirmatory PFS difference between the two main comparator groups (HR=0.76; proportional hazards two-sided p=0.0896). In the overall ITT population, there was no statistically significant PFS difference between the two main comparator groups (proportional hazards two-sided p=0.3728).
Locoregional Control (LRC): In the Proposed Indication, there was no statistically significant LRC difference between the two main study groups (proportional hazards two-sided p=0.4082). In the overall ITT population, there was no statistically significant LRC difference between the two main comparator groups (proportional hazards two-sided p=0.8020).
Significant Histopathological Results: OS, PFS, and LRC were examined using a proportional hazards model to assess the interactions between histopathology (HP) cellular marker expression levels, risk group (lower and higher), and treatment in the two main comparator groups. Twenty HP markers were classified as low, medium, and high. Two HP ratios were classified as low, medium, and high. Fourteen HP combinations were classified as low and high. These resulted in 94 possible comparisons for each of OS, PFS, and LRC. Significance favoring Multikine+CIZ vs. control (two-sided p<0.05) was observed in the Proposed Indication as follows:
OS: 14 markers, 2 ratios, and 9 combinations;
PFS: 11 markers, 1 ratio, and 5 combinations;
LRC: 9 markers, 1 ratio, and 6 combinations;
Combined (summed across endpoints), significance was reached for 21.6% (61/282) of the total possible comparisons, and the one-sided 97.5% confidence bound on the fraction significance was 16.3% which exceeds 5% chance alone.
No excess safety issues:
The overall adverse event rates were 92.4% for the Multikine+CIZ treatment arm; 95.9% for the treatment arm receiving Multikine without CIZ, and 96.1% for the SOC alone (control) treatment arm.
The overall serious adverse event rates were 53% for the Multikine+CIZ treatment arm, 50.7% for the treatment arm receiving Multikine without CIZ, and 52.7% for the SOC alone (control) treatment arm.
The incidence of adverse events and serious adverse events noted in the Multikine arms was not substantially different from those in control.
Importance of Multikine’s IT-MATTERS Trial Results

Head and neck carcinomas constitute about 890,000 cases annually worldwide. In the United States, there are about 68,000 new cases annually. Of those, 90% are squamous cell carcinomas, and approximately two-thirds of these patients present on their first visit with locally advanced primary (untreated) disease. Currently, the median 3-year OS with the existing SOC is estimated at 55%. The 5-year OS is approximately 43%. There are clearly many locally advanced primary SCCHN patients who are not well served by the currently available treatment modalities.

The IT-MATTERS trial confirms that a 3-week treatment with Multikine provides objective responses before surgery with statistically significant five-year OS benefit for the Proposed Indication, i.e., patients deemed by the NCCN Guidelines as lower risk of recurrence and who should receive radiotherapy without chemotherapy following surgery.

Multikine administration (+/- CIZ), as the first therapy after diagnosis, demonstrated objective complete and partial responses before surgery in 8.5% of the overall ITT population and in 16.0% of all Multikine-treated patients (+/- CIZ) in the lower-risk-for-recurrence treatment arm. A partial response means that the tumor has been reduced by at least 30%, and a complete response means that the tumor has completely disappeared. These objective tumor responses were noted within three-weeks of the beginning of Multikine treatment up to surgery and provided direct evidence of Multikine’s anticancer activity.

Although objective responses to cancer drugs do not always lead to improved survival, in the case of Multikine, objective responses resulted in a significantly reduced death rate. For Multikine+CIZ patients in the Proposed Indication, the death rate fell from 41% for non-responders to 12.5% for objective responders. A similar effect was also seen for objective responders in the overall ITT as well.

These reduced death rates yielded an absolute OS advantage of 14.1% at 5-years versus the SOC alone in the lower-risk-for-recurrence treatment arm, with a proportional hazard p-value of 0.0236, a hazard ratio of 0.68 (representing 47% prolongation of survival), a median overall survival that is nearly 4-years longer than from the SOC alone, confirmatory PFS benefit, and histopathological data showing the direct effect of the Multikine treatment on the tumor and the tumor microenvironment.

These statistics mean that for every 100 patients who would receive Multikine (if approved) followed by surgery and radiotherapy only, the likelihood is that about 14 more people would be alive at 5-years compared to the existing SOC. Since about 210,000 advanced primary SCCHN patients globally would be eligible for this treatment, the OS advantage seen in this study could mean that about 29,000 more people would be alive at 5-years post-therapy versus the SOC if all these patients received the Multikine+CIZ treatment regimen followed by surgery and radiotherapy.

By contrast, the SOC control group did not see any objective responses before surgery. CEL-SCI is unaware of any existing therapy that provides complete or partial tumor responses within three-weeks of treatment before surgery for locally advanced primary SCCHN, much less objective responses before surgery that are prognostic/predictive of longer survival, as reached in this study.

It must be noted that Multikine is different from existing therapies. Multikine is designed to be administered locally first, immediately following diagnosis, to previously untreated patients whose tumors and any involved lymph nodes are slated for surgical resection with "intent-to-cure" SOC. To the company’s knowledge, there has been no such therapy or neoadjuvant approved by FDA in at least several decades for resectable locally advanced primary SCCHN. Although existing checkpoint inhibitor drug therapies (like Keytruda) have been approved and marketed as "first-line" treatments for head and neck cancer, their indications are limited to the first-line treatment of recurrent or non-resectable tumors. By contrast, Multikine’s Proposed Indication would be for previously untreated, locally advanced primary SCCHN patients scheduled for surgery and radiation without chemotherapy, encompassing about 40% of the entire advanced primary SCCHN population.

These Phase 3 trial results are intended to support a Biologics Licensing Application to FDA, which has not yet been submitted. FDA is the only U.S. entity authorized to determine safety and efficacy, and Multikine is currently not approved.

VYANT BIO ANNOUNCES RESCHEDULED INVESTOR CONFERENCE CALL AND WEBCAST FOR THE SECOND QUARTER AND FIRST HALF OF 2022

On August 19, 2022 Vyant Bio, Inc. ("Vyant Bio" or "Company") (Nasdaq: VYNT) is an innovative biotechnology company reported that reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders (Press release, Vyant Bio, AUG 19, 2022, View Source [SID1234618514]). The Company’s proprietary central nervous system ("CNS") drug discovery platform combines human-derived organoid models of brain disease, scaled biology, and machine learning. Today, Vyant Bio announced that it will release its financial results for the second quarter and first half ended June 30, 2022, on Monday, August 22, 2022. Vyant Bio will host an investor conference call and webcast on Monday, August 22, 2022 at 4:30 pm ET.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Jay Roberts, Chief Executive Officer, Andy LaFrence, Chief Financial Officer, and Robert Fremeau, PhD, Chief Scientific Officer, of Vyant Bio will provide an update on the business, scientific, and financial progress made during the second quarter and first half of 2022. Management will also be taking audience questions that are submitted in advance only. Investors may submit written questions via e-mail to: [email protected]

The event will be recorded and available for replay. The conference call and webcast details are also included inside the Investors section of the Vyant Bio corporate website at www.vyantbio.com.

SpringWorks Therapeutics Announces Late-Breaking Oral Presentation of Phase 3 DeFi Data at the European Society for Medical Oncology (ESMO) Congress 2022

On August 19, 2022 SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, reported that data from the Phase 3 DeFi trial of nirogacestat, an investigational oral gamma secretase inhibitor, in adult patients with progressing desmoid tumors, will be presented as a late-breaking oral presentation at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2022 (Press release, SpringWorks Therapeutics, AUG 19, 2022, View Source [SID1234618511]). The abstract is expected to be published online via the ESMO (Free ESMO Whitepaper) website on September 8, 2022 (12:05 a.m. CEST; 6:05 p.m. ET on September 7).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are very pleased that the DeFi trial was selected as a late-breaking oral presentation at ESMO (Free ESMO Whitepaper)," said Saqib Islam, Chief Executive Officer of SpringWorks. "We look forward to sharing the detailed DeFi results at the conference and to filing our NDA before the end of the year, which will be reviewed under the FDA’s Real-Time Oncology Review program."

ESMO Oral Presentation Details

Title: DeFi: A Phase 3, Randomized Controlled Trial of Nirogacestat Versus Placebo for Progressing Desmoid Tumors (DT)
Presentation Number: LBA2
Presenter: Bernd Kasper, M.D., Ph.D., University of Heidelberg, Mannheim University Medical Center, Mannheim Cancer Center, Sarcoma Unit, Mannheim, Germany
Session/Type: Presidential Symposium 1, Proffered Paper Session
Date: Saturday, September 10, 2022
Time: 16:55 – 17:10 CEST (10:55-11:10 a.m. ET)

SpringWorks will host a conference call to discuss the DeFi data and next steps on the program (details to follow).

About the DeFi Trial

DeFi (NCT03785964) is an ongoing, global, randomized (1:1), double-blind, placebo-controlled Phase 3 trial evaluating the efficacy, safety and tolerability of nirogacestat in adult patients with progressing desmoid tumors. The study randomized 142 patients to receive 150 mg of nirogacestat or placebo twice daily. Key eligibility criteria included tumor progression by >20% as measured by Response Evaluation Criteria in Solid Tumors (RECIST 1.1) within 12 months prior to the first dose of study treatment. The primary endpoint is progression-free survival, as assessed by blinded independent central review. Secondary and exploratory endpoints include safety and tolerability measures, objective response rate (ORR), duration of response, changes in tumor volume assessed by magnetic resonance imaging (MRI), and changes in patient-reported outcomes (PROs).

About Desmoid Tumors

Desmoid tumors are rare, aggressive, locally invasive, and potentially morbid tumors of the soft tissues.1,2 While they do not metastasize, desmoid tumors are associated with a high rate of recurrence.2,3,4 Sometimes referred to as aggressive fibromatosis, or desmoid fibromatosis, these soft tissue tumors can be serious, debilitating, and, in rare cases when vital organs are impacted, they can be life-threatening.2,5

Desmoid tumors are most commonly diagnosed in patients between the ages of 20 and 44 years, with a two-to-three times higher prevalence in females.4,6,7,8 It is estimated that there are 1,000-1,650 new cases diagnosed per year in the United States.7,8,9

Historically, desmoid tumors were treated with surgical resection, but this approach has become less favored due to a high recurrence rate after surgery.1,4,10 There are currently no FDA-approved therapies for the treatment of desmoid tumors.

About Nirogacestat

Nirogacestat is an investigational, oral, selective, small molecule gamma secretase inhibitor in Phase 3 clinical development for desmoid tumors, which are rare and often debilitating and disfiguring soft-tissue tumors. Gamma secretase cleaves multiple transmembrane protein complexes, including Notch, which is believed to play a role in activating pathways that contribute to desmoid tumor growth.

In addition, gamma secretase has been shown to directly cleave membrane-bound B cell maturation antigen (BCMA), resulting in the release of the BCMA extracellular domain, or ECD, from the cell surface. By inhibiting gamma secretase, membrane-bound BCMA can be preserved, increasing target density while reducing levels of soluble BCMA ECD, which may serve as decoy receptors for BCMA-directed therapies. Nirogacestat’s ability to enhance the activity of BCMA-directed therapies has been observed in preclinical models of multiple myeloma. SpringWorks is evaluating nirogacestat as a BCMA potentiator and has eight collaborations with industry-leading BCMA developers to evaluate nirogacestat in combinations across modalities, including with an antibody-drug conjugate, two CAR T cell therapies, three bispecific antibodies and a monoclonal antibody. SpringWorks has also formed research collaborations with Fred Hutchinson Cancer Research Center and Dana-Farber Cancer Institute to further characterize the ability of nirogacestat to modulate BCMA and potentiate BCMA-directed therapies using a variety of preclinical multiple myeloma models.

Nirogacestat has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of desmoid tumors and from the European Commission for the treatment of soft tissue sarcoma. The FDA also granted Fast Track and Breakthrough Therapy Designations for the treatment of adult patients with progressive, unresectable, recurrent or refractory desmoid tumors or deep fibromatosis. SpringWorks plans to submit a New Drug Application (NDA) to the FDA in the second half of 2022, which will be reviewed under the FDA’s Real-Time Oncology Review (RTOR) program.

Palatin Announces Intent to Effect Reverse Stock Split

On August 19, 2022 Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems, reported that it intends to effect a 1-for-25 reverse split of its issued and outstanding common stock (the "Reverse Stock Split") (Press release, Palatin Technologies, AUG 19, 2022, View Source [SID1234618508]). The Reverse Stock Split will become effective as of 5:00 p.m. Eastern Time on August 30, 2022 (the "Effective Date"), and the Company’s common stock is expected to begin trading on a split-adjusted basis when the market opens on August 31, 2022.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

At Palatin’s Annual Meeting of Stockholders held on June 24, 2022 (the "2022 Annual Meeting"), the Company’s stockholders approved the amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s common stock at a ratio of not less than 1-for-10 and not more than 1-for-25, with such ratio and the implementation and timing of such Reverse Stock Split to be determined by the Company’s Board of Directors in its sole discretion at any time prior to the first anniversary of the 2022 Annual Meeting.

The Board of Directors has now approved the implementation of a 1-for-25 Reverse Stock Split with the timing described above. The reverse stock split will reduce the number of shares of Palatin’s common stock outstanding from approximately 231,774,000 shares to approximately 9,271,000 shares, but will not change the authorized number of shares of Common Stock, which will remain at 300,000,000 shares of Common Stock.

The Company’s common stock will continue to trade on the NYSE American Stock Market under the symbol "PTN." The new CUSIP number for the common stock following the Reverse Stock Split will be 696077502.

The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive a fractional share will instead be entitled to receive cash (rounded down to the nearest cent, without interest and subject to applicable withholding taxes) in lieu of such fractional share from the Company’s transfer agent, American Stock Transfer & Trust Company, LLC, in an amount equal to the product obtained by multiplying (a) the average closing price per share of the Company’s common stock as reported on NYSE American for the five trading days prior to the Effective Date, by (b) the number of shares of common stock outstanding immediately prior to the Effective Date that were converted into fractional shares. Holders of the Company’s common stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the Reverse Stock Split. Stockholders of record will be receiving information from the Company’s transfer agent regarding their common stock ownership post-Reverse Stock Split.

Moleculin Announces Completion of Third Single Ascending Dose (SAD) Cohort in Phase 1a Clinical Trial of WP1122 in the UK

On August 19, 2022 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, reported preliminary results from the third cohort of the Company’s first-in-human Phase 1a study of WP1122 (Press release, Moleculin, AUG 19, 2022, View Source [SID1234618507]). This cohort consisted of 10 subjects dosed with 32 mg/kg or placebo in the dose escalation trial evaluating the safety and pharmacokinetics (PK) of WP1122 in healthy volunteers in the United Kingdom (UK). Based on the overall results in Cohort 3, the Safety Review Committee (SRC) for the study deemed the third single ascending dose (SAD) cohort dose safe and well-tolerated, allowing the Company to begin its fourth SAD Cohort with a dose escalation to 64 mg/kg. Additionally, dosing of WP1122 in the multiple ascending dose (MAD) cohorts will commence at a total daily dose of 32 mg/kg, which has been shown to be safe in the single dose cohort.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Phase 1a, first-in-human, randomized, double-blind, placebo-controlled, overlapping SAD and MAD study is investigating the effects of WP1122 administered as an oral solution in healthy human volunteers. It is the first step in a potential investigation of WP1122 for the treatment of COVID-19. Furthering such an investigation is dependent upon the volatility and unpredictability of COVID-19 incidence in various countries and the ability to recruit patients for a feasible study.

Dose escalation is taking place in sequential SAD cohorts, and MAD will now begin as 3 SAD have been successfully completed. This study in healthy volunteers is exploring safety and PK, and possible subsequent antiviral clinical development is intended to be in patients infected with SARS-CoV-2 to further evaluate safety and establish a favorable risk/benefit profile. The Company expects to enroll approximately 80 subjects in this Phase 1 trial.

Walter Klemp, Chairman and Chief Executive Officer of Moleculin commented, "WP1122 has continued to demonstrate the favorable safety and tolerability profile we expected. With three SAD cohorts successfully completed, we can begin the MAD phase of the trial and are another step closer to establishing a maximum tolerated dose. Throughout the three completed cohorts, WP1122 has demonstrated no dose escalating stopping criteria, and we are pleased with the progress of WP1122 toward becoming a potential treatment of certain viral diseases and cancers."

During the SAD portion of this study, dose escalation will proceed up to a maximum dose of 64 mg/kg as a single dose. Dosing of WP1122 began in SAD at 8 mg/kg as a single dose and has escalated in two-fold increments (i.e., to 16, 32 and now to 64 mg/kg as single doses) in subsequent cohorts. The first dose administered in MAD will be 16 mg/kg every 12 hours (32 mg/kg/day) for 7 days and dosing in the second MAD cohort will escalate to 32 mg/kg every 12 hours (64 mg/kg/day) for 7 days.

For more information about the study, please visit clinicaltrials.gov and reference identifier NCT05195723. Moleculin is also in the process of identifying additional countries where potential future Phase 2 COVID-19 clinical studies could occur and is also in discussions with potential investigators interested in the possible study of WP1122 in other viruses and cancer indications.

About WP1122

WP1122 was developed as a 2-DG prodrug to provide a more favorable pharmacological profile and was found to have greater potency than 2-DG alone in preclinical models where tumor cells require higher glycolytic activity than normal cells. WP1122 has also been shown to have a greater antiviral effect than 2-DG against SARS-CoV-2 in MRC-5 cells in culture. The improved pharmacokinetic and pharmacodynamic (PK/PD) profile of WP1122 compared to 2-DG was noted in female mice following oral dosing at equimolar (i.e., equivalent levels of 2-DG) doses.

While the Company is in the process of identifying additional countries where potential future Phase 2 COVID-19 clinical studies might occur, the volatility and unpredictability of COVID-19 incidence in various countries may limit the ability to recruit certain subjects and could make it infeasible to conduct a Phase 2 clinical trial in a given country. Additionally, Moleculin recently received IND clearance from the U.S. Food and Drug Administration (FDA) to initiate a Phase 1 study of WP1122 for the treatment of Glioblastoma Multiforme (GBM). The Company is seeking collaborators with the intent to commence clinical trials of WP1122 in other viruses and cancer indications including GBM, pancreatic cancer and others.