OPKO Health to Report Third Quarter 2022 Financial Results on November 8, 2022

On November 1, 2022 OPKO Health, Inc. (NASDAQ: OPK) reported that operating and financial results for the three and nine months ended September 30, 2022 after the close of the U.S. financial markets on Tuesday, November 8, 2022 (Press release, Opko Health, NOV 1, 2022, View Source [SID1234622716]). OPKO’s senior management will provide a business update and discuss financial results as well as provide financial guidance during a conference call and live audio webcast on November 8th beginning at 4:30 p.m. Eastern time.

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CONFERENCE CALL & WEBCAST INFORMATION

OPKO encourages participants to pre-register for the conference call using this link. Callers who pre-register will receive a unique PIN to gain immediate access to the call and bypass the live operator. Participants may register at any time, including up to and after the call start time. Those unable to pre-register may participate by dialing (833) 630-0584 (U.S.) or (412) 317-1815 (International). A webcast of the call can also be accessed at OPKO’s Investor Relations page and here.

A telephone replay will be available until November 15, 2022 by dialing (877) 344-7529 (U.S.) or (412) 317-0088 (International) and providing the passcode 5757952. A webcast replay will be available beginning approximately one hour after the completion of the live conference call here.

50% recruitment milestone reached for Phase II BOP prostate cancer trial

On November 1, 2022 Clarity Pharmaceuticals (ASX: CU6) ("Clarity"), a clinical-stage radiopharmaceutical company with a mission to develop next-generation products that improve treatment outcomes for children and adults with cancer, reported the Phase II diagnostic 64Cu SAR-Bombesin trial (BOP) for patients with prostate cancer has reached the fifty percent recruitment milestone, with 15 out of 30 participants enrolled and imaged (Press release, Clarity Pharmaceuticals, NOV 1, 2022, View Source [SID1234622715]).

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Prof Louise Emmett (St Vincent’s Hospital Sydney), Principal Investigator in the BOP trial, commented, "We are very excited with the fast pace of recruitment into the BOP trial. We dosed the first patient in mid-September and have reached a 50% recruitment milestone less than 2 months later. The data we are generating will help to explore and validate the clinical benefits of the SAR-Bombesin product. We look forward to recruiting the remaining 15 patients in the trial and analysing the study results.

"We believe SAR-Bombesin will play a role in the identification of disease that is not observed with conventional imaging or PSMA-PET. This could ultimately lead to more effective treatments for this large patient population where unfortunately, very few treatment options are available at present."

BOP (Copper-64 SAR Bombesin in Prostate Specific Membrane Antigen (PSMA) negative Prostate Cancer) is a Phase II investigator-initiated trial (IIT) in up to 30 patients led by Prof Louise Emmett at St Vincent’s Hospital, Sydney. The BOP trial is assessing the safety of 64Cu-SAR-Bombesin as well as looking at the diagnostic potential across two different groups of men:

Participants with suspected biochemical recurrence (BCR) of their prostate cancer who have negative PSMA positron emission tomography (PET) imaging scans or low PSMA expression disease.
Participants with metastatic castrate resistant prostate cancer (mCRPC) who are not eligible for PSMA therapy.
Clarity’s Executive Chairman, Dr Alan Taylor, commented, "The rapid progress of the BOP IIT, led by Prof Emmett and her team at St Vincent’s Hospital, is testament to the hard work and dedication to our mutual goal of improving treatment outcomes for people with cancer. We are motivated and driven by the progress on our collaboration as it has already resulted in improvements to the management of the disease for patients with PSMA-negative prostate cancer.

"The BOP trial builds on the data Prof Emmett’s team generated in PSMA-negative prostate cancer patients imaged under the Therapeutic Goods Administration Special Access Scheme, as well as from the pilot diagnostic trial investigating SAR-Bombesin in breast cancer patients. The data indicates potential utility of the product as a theranostic agent. As such, Clarity plans to progress the therapy under an Investigational New Drug application with the US Food and Drug Administration for the commencement of a theranostic trial with SAR-Bombesin in the US. We believe SAR-Bombesin has the potential to provide large patient populations with accurate and precise detection and treatment of cancers."

Clarity’s Prostate Cancer clinical trial program overview

About SAR-Bombesin
SAR-Bombesin is a highly targeted pan-cancer radiopharmaceutical with broad cancer application. It targets the gastrin-releasing peptide receptor (GRPr) present on cells of a range of cancers, including but not limited to prostate, breast and ovarian cancers. GRPr is found in approximately 75-100% of prostate cancers, including prostate cancers that don’t express PSMA (PSMA-negative)1-5. The product utilises Clarity’s proprietary sarcophagine (SAR) technology that securely holds copper isotopes inside a cage-like structure, called a chelator. Unlike other commercially available chelators, the SAR technology prevents copper leakage into the body. SAR-Bombesin is a Targeted Copper Theranostic (TCT) that can be used with isotopes of copper-64 (Cu-64 or 64Cu) for imaging and copper-67 (Cu-67 or 67Cu) for therapy.

About Prostate Cancer
Prostate cancer is the second most common cancer diagnosed in men globally and the fifth leading cause of cancer death worldwide6. The National Cancer Institute estimates in 2022 there will be 268,490 new cases of prostate cancer in the US and around 34,500 deaths from the disease7.

Approximately 20% of prostate cancers with BCR are PSMA-PET negative8-11. These patients are therefore unlikely to respond to therapeutic PSMA-targeted products and currently have few treatment options available to them. Given the prostate cancer indication is one of the largest in oncology, there is a significant unmet medical need in this segment.

Enveric Biosciences to Participate in Wonderland: Miami on November 3-5, 2022

On November 1, 2022 Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a biotechnology company dedicated to the development of novel small-molecule therapeutics for the treatment of anxiety, depression and addiction disorders, reported that Dr. Joseph Tucker, Chief Executive Officer of Enveric Biosciences, will participate in Wonderland: Miami hosted by Microdose to be held at the Mana Wynwood Convention Center in Miami, FL on November 3-5, 2022 (Press release, Enveric Biosciences, NOV 1, 2022, View Source [SID1234622714]).

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Dr. Tucker will participate in the panel Synthetic vs Natural Debate on Saturday, November 5th at 12:00 p.m. ET.

Neurocrine Biosciences Reports Third Quarter 2022 Financial Results and Raises 2022 INGREZZA Sales Guidance

On November 1, 2022 Neurocrine Biosciences, Inc. (Nasdaq: NBIX) reported its financial results for the third quarter ended September 30, 2022 and raised net sales guidance for INGREZZA in 2022 (Press release, Neurocrine Biosciences, NOV 1, 2022, View Source [SID1234622713]).

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"INGREZZA continues to help more and more patients who suffer from tardive dyskinesia. With the submission of the sNDA of valbenazine for the treatment of chorea associated with Huntington Disease, we have the potential to help even more patients with our valbenazine franchise," said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. "Our clinical programs continue to progress with multiple data readouts in 2023 including for crinecerfont in congenital adrenal hyperplasia and for NBI-‘352 in adult focal onset seizures. Additionally, we recently dosed our first patient in our lead muscarinic program for the treatment of schizophrenia. With a strong commercial and R&D presence, and an attractive financial profile, Neurocrine Biosciences is well positioned to be a leading neuroscience-focused company."

Third Quarter INGREZZA Net Product Sales and Commercial Highlights:
Net product sales were $376 million with total prescriptions (TRx) of approximately 68,600
Net product sales and TRx grew 31% and 32%, respectively, vs. third quarter of 2021
Sequential growth driven by record new patients and continued strength in existing patients’ refill rates
Financial Highlights:
Third quarter 2022 GAAP net income and diluted earnings per share of $69 million and $0.69, respectively, compared with $23 million and $0.23, respectively, for third quarter 2021.
Third quarter 2022 non-GAAP net income and diluted earnings per share of $107 million and $1.08, respectively, compared with $63 million and $0.64, respectively, for third quarter 2021.
Differences in third quarter 2022 GAAP and non-GAAP operating expenses compared with third quarter 2021 driven by:
Increased R&D expense in support of an expanded and advancing clinical portfolio
Increased SG&A expense primarily due to ongoing commercial initiatives, including the deployment of the expanded salesforce in April 2022
At September 30, 2022, the Company had cash, cash equivalents and marketable securities of approximately $1.2 billion.
A reconciliation of GAAP to non-GAAP financial results can be found in Table 3 and Table 4 at the end of this earnings release.

Recent Events:
On November 1, 2022, we acquired Diurnal Group plc, or Diurnal, in an all-cash transaction, for an aggregate value of approximately £48.3 million GBP, or approximately $56 million USD. We believe the transaction presents an opportunity to accelerate the establishment of our clinical development and commercial capabilities in the United Kingdom to the benefit of patient communities and other stakeholders.

INGREZZA sales guidance for fiscal 2022 is based on recent trends and the anticipated benefit from our recently completed salesforce expansion. If new COVID-19 related disruptions emerge, the Company’s ability to meet these expectations could be negatively impacted.
GAAP R&D guidance includes (i) amounts for milestones that are probable of achievement or have been achieved and (ii) amounts for in-process research and development once significant collaboration and licensing arrangements have been completed. GAAP R&D guidance includes approximately $40 million of milestone expenses in connection with collaborations.
Non-GAAP guidance adjusted to exclude estimated non-cash stock-based compensation expense of $60 million in R&D and $110 million in SG&A.
Based upon available Federal net operating losses and tax credits, the Company expects to begin making cash payments for Federal income tax beginning in the fourth quarter of 2022.

Conference Call and Webcast Today at 8:00 AM Eastern Time
Neurocrine Biosciences will hold a live conference call and webcast today at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time). Participants can access the live conference call by dialing 866-952-8559 (US) or 785-424-1881 (International) using the conference ID: NBIX. The webcast can also be accessed on Neurocrine Biosciences’ website under Investors at www.neurocrine.com. A replay of the webcast will be available on the website approximately one hour after the conclusion of the event and will be archived for approximately one month.

Coherus BioSciences to Report Third Quarter 2022 Financial Results on November 8th, 2022

On November 1, 2022 Coherus BioSciences, Inc. ("Coherus", Nasdaq: CHRS), reported that its third quarter 2022 financial results will be released after market close on Tuesday, November 8th, 2022 (Press release, Coherus Biosciences, NOV 1, 2022, View Source/news-releases/news-release-details/coherus-biosciences-report-third-quarter-2022-financial-results" target="_blank" title="View Source/news-releases/news-release-details/coherus-biosciences-report-third-quarter-2022-financial-results" rel="nofollow">View Source [SID1234622712]). Starting at 5:00 p.m. Eastern Time on November 8, 2022, Coherus’ management team will host a conference call and webcast to discuss financial results and provide a general business update. The press release with the third quarter 2022 financial results and related materials will be available at View Source prior to the start of the conference call.

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A replay of the webcast will be available on View Source following the conclusion of the live conference call.