Moleculin Successfully Completes First Cohort in Phase 1b/2 Trial Evaluating Annamycin in Combination with Cytarabine (Ara-C) for the Treatment of Acute Myeloid Leukemia (AML)

On May 2, 2023 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a growing pipeline, including Phase 2 clinical programs, for hard-to-treat tumors and viruses, reported the successful completion of the first cohort in the Phase 1b portion of its Phase 1b/2 clinical trial using Annamycin in combination with Cytarabine for the treatment of AML (MB-106) (Press release, Moleculin, MAY 2, 2023, https://moleculin.com/moleculin-successfully-completes-first-cohort-in-phase-1b-2-trial-evaluating-annamycin-in-combination-with-cytarabine-ara-c-for-the-treatment-of-acute-myeloid-leukemia-aml/ [SID1234630849]).

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In this first cohort three subjects were treated, all of whom are believed to be relapsed from multiple prior therapies. Annamycin was dosed at 190 mg/m2, along with Cytarabine at 2.0 g/m2/day for 5 days (total dose of 10 g/m2), consistent with the familiar 7+3 regimen, combining daunorubicin and Cytarabine, typically used as a first-line induction therapy. In the Company’s study therapy Annamycin replaces daunorubicin. The Company, at the recommendation of the data safety committee, deemed the first cohort dose as safe and opened the second cohort with the Annamycin dose being increased to 230 mg/m2.

The median of prior therapies for these three subjects were 5 (2 to 7). One of the subjects, who was 78 years of age at the time of study initiation with 2 prior multi-year therapies, was preliminarily recorded as a complete response at three weeks, or "CR", per the protocol. This was subsequently confirmed to be a durable CR after four weeks. The other two subjects were shown to have disease progression. Subjects have already been identified as potential candidates for the second cohort.

"We are pleased with the rapid progress of this trial and to be advancing to the second cohort of escalated dosing. These preliminary results demonstrated by Annamycin in combination with Ara-C, add to our confidence in Annamycin’s potential to be an important treatment for refractory or relapsed AML. Since it wasn’t until we exceeded 210 mg/m2 in our single agent trials that we saw a consistent response rate (80%), we are glad to see a CR at just 190 mg/m2 and are eager to see how subjects respond at 230 mg/m2, especially since our preclinical animal studies showed a significant increase in activity when Annamycin is combined with Cytarabine, as it is in this trial. We are also encouraged to see a full slate of candidates already identified for the second cohort and our clinical team is working to get subject screening and dosing for this next cohort. We look forward to providing additional updates in the near future," commented Walter Klemp, Chairman and Chief Executive Officer of Moleculin.

The Phase 1b/2 MB-106 trial is an open label trial that builds on the safety and dosage data from the two successfully concluded single agent Annamycin AML Phase 1 trials, MB-104 and MB-105, conducted in the U.S. and Europe, respectively.

Annamycin is the Company’s next-generation anthracycline that has been designed to be non-cardiotoxic and has been shown in animal models to accumulate in the lungs at up to 30-fold the level of doxorubicin (a commonly prescribed anthracycline), as well as demonstrating the ability to avoid the multidrug resistance mechanisms that typically limit the efficacy of doxorubicin and other currently prescribed anthracyclines. Annamycin is currently in development for the treatment of relapsed or refractory AML and soft tissue sarcoma (STS) lung metastases and the Company believes it may have the potential to treat additional indications.

Annamycin currently has Fast Track Status and Orphan Drug Designation from the US Food and Drug Administration (FDA) for the treatment of STS lung metastases and the treatment of relapsed or refractory AML. For more information about the MB-106 Phase 1/2 trial, visit clinicaltrialsregister.eu and reference EudraCT 2020-005493-10 or clinicaltrials.gov and reference NCT05319587.

Mersana Therapeutics to Host First Quarter 2023 Conference Call on May 9, 2023

On May 2, 2023 MannKind Corporation (Nasdaq: MNKD) reported that it will release its 2023 first quarter financial results and its management will host a conference call to discuss the financial results and corporate updates at 5:00 PM (Eastern Time) on Tuesday, May 9, 2023 (Press release, Mersana Therapeutics, MAY 2, 2023, View Source [SID1234630848]).

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Presenting from the Company will be its Chief Executive Officer, Michael Castagna and Chief Financial Officer, Steven Binder.

Those interested in listening to the conference call live via the Internet may do so by visiting the Company’s website at View Source under Events & Presentations.

Lyell Immunopharma to Participate in BofA Securities Healthcare Conference

On May 2, 2023 Lyell Immunopharma, Inc. (Nasdaq: LYEL), a clinical‑stage T-cell reprogramming company advancing a diverse pipeline of cell therapies for patients with solid tumors, reported that members of its senior management team will participate in the BofA Securities 2023 Healthcare Conference on Tuesday, May 9 at 3:00 pm PT (Press release, Lyell Immunopharma, MAY 2, 2023, View Source [SID1234630847]).

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A live webcast of the fireside chat can be accessed through the investor relations section of the Company’s website at www.lyell.com. Following the live presentation, a replay of the webcast will be available on the Company’s website for 90 days following the presentation date.

Entry into a Material Definitive Agreement

On May 1, 2023, Lexicon and one of its subsidiaries reported to have entered into a second amendment to its loan and security agreement with Oxford Finance LLC (the "Second Amendment") increasing the amount available for draw at Lexicon’s option under the third tranche from $50 million to $75 million and decreasing the amount available for draw at Lexicon’s option, subject to Oxford’s consent, under the fourth tranche from $50 million to $25 million (Press release, Lexicon Pharmaceuticals, MAY 2, 2023, View Source [SID1234630846]). Under the terms of the Second Amendment, Lexicon and its subsidiaries are subject to an additional financial covenant relating to minimum cash balance requirements following funding of the third tranche and an unused fee will be due in the event Lexicon does not draw the full amount available under the third tranche.

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The foregoing summary does not purport to be complete and is qualified in its entirety by the Second Amendment, a copy of which is attached to this report as Exhibit 10.1 and incorporated herein by reference.

Kiniksa Pharmaceuticals Reports First Quarter 2023 Financial Results and Recent Portfolio Execution

On May 2, 2023 Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) (Kiniksa), a biopharmaceutical company with a pipeline of immune-modulating assets designed to target a spectrum of cardiovascular and autoimmune diseases, reported first quarter 2023 financial results and recent portfolio execution (Press release, Kiniksa Pharmaceuticals, MAY 2, 2023, View Source [SID1234630845]).

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"Kiniksa continues to make great progress in developing the recurrent pericarditis market. ARCALYST, the first and only FDA-approved therapy for this disease, is reshaping the treatment paradigm. We are seeing signs of success from our field team expansion, with recent increases in prescriber adoption and patient enrollments. In addition to these metrics, given the high patient satisfaction, strong payer approval rates, and longer duration of therapy, we’ve raised our 2023 ARCALYST sales guidance to between $200 and $215 million," said Sanj K. Patel, Chairman and Chief Executive Officer of Kiniksa. "We are also now enrolling the final cohort of the KPL-404 Phase 2 trial in rheumatoid arthritis and expect data in the first half of 2024. Our cash reserves, combined with our continued ARCALYST commercial execution and financial discipline, provide cash runway into at least 2026."

Portfolio Execution

ARCALYST (IL-1α and IL-1β cytokine trap)

· ARCALYST net product revenue was $42.7 million for the first quarter of 2023.

· Since launch, more than 1,000 prescribers have written ARCALYST prescriptions for recurrent pericarditis.

· As of the end of the first quarter of 2023, there was a greater than 90% payer approval rate of completed patient cases for recurrent pericarditis.

· As of the end of the first quarter of 2023, average total duration of ARCALYST therapy in recurrent pericarditis increased to approximately 20 months.

- Average initial duration of therapy increased to approximately 14 months.

- Average total duration of therapy includes the approximately 45% of patients who restarted ARCALYST, within an average of 8 weeks, after having discontinued therapy.

KPL-404 (monoclonal antibody inhibitor of CD40-CD154 interaction)

· Kiniksa is enrolling the final cohort of the Phase 2 clinical trial of KPL-404 in rheumatoid arthritis. The company expects data from the trial in the first half of 2024.

Mavrilimumab (monoclonal antibody inhibitor targeting GM-CSFRα)

· Kiniksa is pursuing collaborative study agreements to evaluate the potential of mavrilimumab in rare cardiovascular diseases where the granulocyte macrophage colony stimulating factor (GM-CSF) mechanism has been implicated.

Financial Results

· Total revenue for the first quarter of 2023 was $48.3 million, compared to $32.2 million for the first quarter of 2022.

- Total revenue for the first quarter of 2023 included $42.7 million in ARCALYST net product revenue and $5.7 million in license and collaboration revenue, compared to $22.2 million in ARCALYST net product revenue and $10.0 million in license and collaboration revenue for the first quarter of 2022.

· Total operating expenses for the first quarter of 2023 were $59.5 million, compared to $55.5 million for the first quarter of 2022.

- Total operating expenses for the first quarter of 2023 included $6.1 million in non-cash, share-based compensation expense, compared to $6.0 million for the first quarter of 2022.

· Net loss for the first quarter of 2023 was $12.3 million, compared to a net loss of $25.2 million for the first quarter of 2022.

· As of March 31, 2023, Kiniksa had $187.5 million of cash, cash equivalents, and short-term investments and no debt.

Financial Guidance

· Kiniksa now expects ARCALYST net product revenue for the full-year 2023 of between $200 million and $215 million.

· Kiniksa now expects that its cash and cash equivalents will fund its current operating plan into at least 2026.

Conference Call Information

· Kiniksa will host a conference call and webcast at 8:30 a.m. Eastern Time on Tuesday, May 2, 2023 to discuss first quarter 2023 financial results and recent portfolio execution.

· Individuals interested in participating in the call via telephone may register here. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. To access the webcast, please visit the Investors and Media section of Kiniksa’s website. A replay of the event will also be available on Kiniksa’s website within approximately 48 hours after the event.