Ascendis Pharma to Participate in the Leerink Partners Global Biopharma Conference 2024

On March 4, 2024 Ascendis Pharma A/S (Nasdaq: ASND) reported that company executives will participate in a fireside chat at the Leerink Partners Global Biopharma Conference 2024 on Monday, March 11, 2024 at 2:00 p.m. ET in Miami, Florida (Press release, Ascendis Pharma, MAR 4, 2024, View Source [SID1234640724]).

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A live webcast of the fireside chat will be available via the Investors & News section of the Ascendis Pharma website at investors.ascendispharma.com. A webcast replay will also be available on this website shortly after conclusion of the event for 30 days.

Arvinas to Participate in Upcoming Investor Conferences

On March 4, 2024 Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, reported that management will participate in three upcoming investor conferences (Press release, Arvinas, MAR 4, 2024, View Source [SID1234640723]):

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Leerink Partners Global Biopharma Conference on Tuesday, March 12.
Ron Peck, M.D., chief medical officer, and Randy Teel, Ph.D., interim chief financial officer, will participate in a fireside chat. A live audio webcast of the presentation will be available here and on the Events + Presentations section of the Company’s website.

Jefferies Biotech on the Bay Summit on Wednesday, March 13.
Ron Peck, M.D., chief medical officer, and Randy Teel, Ph.D., interim chief financial officer, will participate in investor 1×1 meetings.

UBS Virtual CNS Day 2024 on Monday, March 18.
Ian Taylor, Ph.D., chief scientific officer, and Angela Cacace, Ph.D., senior vice president of neuroscience and platform biology, will participate in a fireside chat. A live audio webcast of the presentation will be available here and on the Events + Presentations section of the Company’s website.

Akoya Reports Record Revenue in the Fourth Quarter of 2023 and Provides Full Year 2024 Financial Outlook

On March 4, 2024 Akoya Biosciences, Inc. (Nasdaq: AKYA) ("Akoya"), The Spatial Biology Company, reported its financial results for the fourth quarter and full year ending December 31, 2023 (Press release, Akoya Biosciences, MAR 4, 2024, View Source [SID1234640722]).

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"Akoya’s successful 2023 performance reflects the high demand for our leading spatial biology solutions and effective execution of our financial and strategic plan," said Brian McKelligon, CEO of Akoya Biosciences. "We expanded our installed base to nearly 1,200 instruments, improved platform speeds, and simplified workflows with new offerings of reagents and analysis tools. We anticipate strong topline growth in 2024 and operating cash flow breakeven by year end."

Fourth Quarter 2023 Financial Highlights

Revenue was $26.5 million in the fourth quarter of 2023, compared to $21.2 million in the prior year period; an increase of 25.0%. This increase was primarily due to higher reagents and services revenue.
Gross margin was 62.7% in the fourth quarter of 2023, compared to 56.8% in the prior year period. The increase in gross margin was primarily driven by product mix and improved margin on the product business.
Operating expense was $26.1 million for the fourth quarter of 2023, compared to $29.6 million in the prior year period; a decrease of 11.8%. The decrease was primarily driven by further realized operating leverage and efficiencies.
Operating loss was $9.4 million for the fourth quarter of 2023, compared to an operating loss of $17.6 million in the prior year period; a decrease of 46.6%.
$83.1 million of cash and cash equivalents as of December 31, 2023.
Fourth Quarter 2023 Business Highlights

Announced a license and distribution agreement with Thermo Fisher Scientific to deliver spatial multiomic workflow by combining Akoya’s market leading spatial biology solutions with ViewRNA technology to enable rapid, whole-slide imaging of RNA and protein biomarkers.
Announced the formation of a new Scientific Advisory Board with initial members consisting of global experts in immunobiology: James Allison, Ph.D., former Akoya director Garry Nolan, Ph.D., and Padmanee Sharma, M.D., Ph.D.
Announced deployment of the MaxFuse algorithm co-developed by Dr. Garry Nolan and his laboratory at Stanford University for multiomic integration of spatial and single-cell data on the Enable Medicine platform.
Full Year 2023 Financial and Business Highlights

Revenue was $96.6 million for the year ended December 31, 2023, compared to $74.9 million in the prior year; an increase of 29.0%.
Gross margin was 58.3% for the year ended December 31, 2023, compared to 58.0% in the prior year period.
Operating expense was $114.0 million for the year ended December 31, 2023, compared to $109.5 million in the prior year period; an increase of 4.1%.
Operating loss was $57.7 million for the year ended December 31, 2023, compared to an operating loss of $66.1 million in the prior year period; a decrease of 12.7%.
Instrument installed base of 1,183 as of December 31, 2023 (342 PhenoCyclers, 841 PhenoImagers), compared to an installed base of 934 in the prior year period (254 PhenoCyclers, 680 PhenoImagers); an increase of 26.7%.
1,160 total publications citing Akoya’s technology as of December 31, 2023, compared to 772 total publications in the prior year period: an increase of 50.3%.
2024 Financial Outlook

The Company, based on its current plans and initiatives, expects full year 2024 revenue guidance range of $114.0-118.0 million and projects operating cash flow breakeven by year end.

Webcast and Conference Call Details

Akoya will host a conference call today, March 4, 2024, at 5:00 p.m. Eastern Time to discuss its fourth quarter and full year 2023 financial results. Investors interested in listening to the conference call are required to register online. A live webcast of the conference call will be available on the "Investors" section of the Company’s website at View Source The webcast will be archived on the website following the completion of the call for three months.

Two datopotamab deruxtecan applications validated in the EU for patients with advanced nonsquamous non-small cell lung cancer or HR-positive, HER2-negative breast cancer

On March 4, 2024 The European Medicines Agency (EMA) reported that it has validated two marketing authorisation applications (MAAs) for AstraZeneca and Daiichi Sankyo’s datopotamab deruxtecan (Dato-DXd) in two types of cancer (Press release, AstraZeneca, MAR 4, 2024, View Source [SID1234640715]). One MAA is for the treatment of adult patients with locally advanced or metastatic nonsquamous non-small cell lung cancer (NSCLC) who require systemic therapy following prior treatment. The other MAA is for the treatment of adult patients with unresectable or metastatic hormone receptor (HR)-positive, HER2-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have progressed on and are not suitable for endocrine therapy and received at least one additional systemic therapy.

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The validations confirm the completion of the applications and commence the scientific review process by the EMA’s Committee for Medicinal Products for Human Use. The applications are based on data from the pivotal TROPION-Lung01 and TROPION-Breast01 Phase III trials presented during two Presidential Symposia at the 2023 European Society for Medical Oncology Congress.

Datopotamab deruxtecan is a specifically engineered TROP2-directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo and being jointly developed by AstraZeneca and Daiichi Sankyo.

Susan Galbraith, Executive Vice President, Oncology R&D, AstraZeneca, said: "Our ambition is for datopotamab deruxtecan to improve upon and replace conventional chemotherapy in the treatment of multiple cancer types. Today’s dual validation of our applications in lung and breast cancers brings this potential medicine a meaningful step closer to redefining treatment expectations for patients with two of the most common cancers in Europe."

Ken Takeshita, MD, Global Head, R&D, Daiichi Sankyo, said: "The EMA validation is an important first step toward bringing this TROP2-directed antibody drug conjugate to eligible patients in Europe with nonsquamous lung cancer and HR-positive, HER2-negative breast cancer. This news builds on our recent regulatory progress in the US, where our lung cancer application has been accepted and our breast cancer application is underway, underscoring our commitment to changing the standard of care by developing new medicines to help as many patients worldwide as possible."

Additional regulatory submissions for datopotamab deruxtecan in lung cancer and breast cancer are underway in the US and globally.

Notes

Advanced non-small cell lung cancer
Nearly 500,000 lung cancer cases were diagnosed in Europe in 2022.1 NSCLC is the most common type of lung cancer, accounting for about 80% of cases.1 Approximately 70% and 30% of NSCLC tumours are of nonsquamous or squamous histology, respectively.2 While immunotherapy and targeted therapies have improved outcomes in the first-line setting, most patients eventually experience disease progression and receive chemotherapy.3,4,5 For decades, chemotherapy has been the last treatment available for patients with advanced NSCLC, despite limited effectiveness and known side effects.3,4,5

HR-positive breast cancer
More than 500,000 breast cancer cases were diagnosed in Europe in 2022.6 HR-positive, HER2-negative breast cancer is the most common subtype, accounting for more than 65% of diagnosed cases.7 Breast cancer is considered HR-positive, HER2-negative when tumours test positive for oestrogen and/or progesterone hormone receptors and negative for HER2 (measured as HER2 score of IHC 0, IHC 1+ or IHC 2+/ISH-).7,8 Standard initial treatment for this subtype of breast cancer is endocrine therapy but most patients with advanced disease will develop resistance, underscoring the need for additional options.9,10

TROP2
TROP2 is a protein broadly expressed in several solid tumours, including the majority of NSCLC and HR-positive, HER2-negative breast cancer cases.11,12 High TROP2 expression is associated with increased tumour progression and poor survival.12,13 There is currently no TROP2-directed ADC approved for the treatment of lung cancer.14,15

TROPION-Lung01
TROPION-Lung01 is a global, randomised, multicentre, open-label Phase III trial evaluating the efficacy and safety of datopotamab deruxtecan versus docetaxel in patients with locally advanced or metastatic NSCLC with and without actionable genomic alterations who require systemic therapy following prior treatment. Patients with actionable genomic alterations were previously treated with platinum-based chemotherapy and an approved targeted therapy. Patients without known actionable genomic alterations were previously treated, either in combination or sequentially, with platinum-based chemotherapy and a PD-1 or PD-L1 inhibitor.

The dual primary endpoints of TROPION-Lung01 are progression-free survival (PFS) as assessed by blinded independent central review (BICR) and overall survival (OS). Key secondary endpoints include investigator-assessed PFS, objective response rate (ORR), duration of response (DoR), time to response, disease control rate (DCR) as assessed by both BICR and investigator, and safety. TROPION-Lung01 enrolled approximately 600 patients in Asia, Europe, North America and South America. For more information visit ClinicalTrials.gov.

TROPION-Breast01
TROPION-Breast01 is a global, randomised, multicentre, open-label Phase III trial evaluating the efficacy and safety of datopotamab deruxtecan versus investigator’s choice of single-agent chemotherapy (eribulin, capecitabine, vinorelbine or gemcitabine) in patients with unresectable or metastatic HR-positive, HER2-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have progressed on and are not suitable for endocrine therapy per investigator assessment and have received at least one additional systemic therapy for unresectable or metastatic disease.

The dual primary endpoints of TROPION-Breast01 are PFS as assessed by BICR and OS. Key secondary endpoints include ORR, DoR, investigator-assessed PFS, DCR, time to first subsequent therapy and safety. TROPION-Breast01 enrolled more than 700 patients in Africa, Asia, Europe, North America and South America. For more information visit ClinicalTrials.gov.

Datopotamab deruxtecan (Dato-DXd)
Datopotamab deruxtecan (Dato-DXd) is an investigational TROP2-directed ADC. Designed using Daiichi Sankyo’s proprietary DXd ADC Technology, datopotamab deruxtecan is one of six DXd ADCs in the oncology pipeline of Daiichi Sankyo, and one of the most advanced programmes in AstraZeneca’s ADC scientific platform. Datopotamab deruxtecan is comprised of a humanized anti-TROP2 IgG1 monoclonal antibody, developed in collaboration with Sapporo Medical University, attached to a number of topoisomerase I inhibitor payloads (an exatecan derivative, DXd) via tetrapeptide-based cleavable linkers.

A comprehensive development programme called TROPION is underway globally with more than 14 trials evaluating the efficacy and safety of datopotamab deruxtecan across multiple cancers, including NSCLC, triple-negative breast cancer and HR-positive, HER2-negative breast cancer. Beyond the TROPION programme, datopotamab deruxtecan also is being evaluated in novel combinations in several ongoing trials.

Medigene Expands Patent Portfolio in Japan for iM-TCR Technology to Control TCR-T Safety and Efficacy

On March 4, 2024 Medigene AG (Medigene, FSE: MDG1, Prime Standard), an immuno-oncology platform company focusing on the discovery and development of T cell immunotherapies for solid tumors, reported that the Company has been issued a patent by the Japan Patent Office protecting its inducible Medigene T cell receptor (iM-TCR), a control mechanism to regulate efficacy and safety of its T cell receptor engineered T cell (TCR-T) therapies (Press release, MediGene, MAR 4, 2024, View Source [SID1234640714]).

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"We are delighted with the receipt of the patent grant for our iM-TCR from the Japan Patent Office as we continue to expand and strengthen our IP portfolio. The ability to control the level of TCR activity with our iM-TCR technology after dosing has the potential to deliver more individualized efficacy and safety for patients. This patent grant is further validation of this innovative iM-TCR technology," said Selwyn Ho, CEO at Medigene. "The iM-TCR is a key example of the breadth of our technologies within our End-to-End Platform, that also includes multiple proprietary armoring and enhancement technologies. Combining our optimal 3S (sensitive, specific and safe) TCRs with technologies such as our iM-TCR technology is part of our ambition to deliver innovative solutions that can optimize safety and efficacy of TCR-T therapies."

TCR-T therapies have demonstrated that they can effectively kill tumor cells. However, excessive activation of T cells may lead to premature exhaustion or cell death, as well as unwanted overactivity and potential development of inflammatory responses in the body. The iM-TCR technology modifies the TCR to achieve control of TCR surface expression, allowing for fine-tuning of activity against tumor cells and thereby reducing potential inflammatory responses in the body. This property is of potential benefit to sensitive organs damaged by a sustained inflammatory response of T cells, such as with brain or liver cancer.