Asterias is in the process of applying for a grant from a large United Kingdom based charitable organization to fund Phase 1/2a clinical development of its VAC2 product candidate (Filing 10-Q , BioTime, MAY 12, 2014, View Source [SID:1234500510]). The proposed grant would fund both the Phase 1/2a clinical trial of VAC2 in cancer patients and the cGMP manufacturing costs of VAC2. The terms under which funding may be provided by the charitable organization are currently under discussion. Asterias anticipates that it will receive notification of whether the grant has been approved during the first half of 2014. This same charitable organization had awarded a similar grant for VAC2 to Geron but that grant was withdrawn after Geron terminated the program in November 2011.
10-Q – Quarterly report [Sections 13 or 15(d)]
As a result of the October 2013 reduction in its workforce, GTx is no longer conducting drug discovery activities and it is focusing its research and development activities on the ongoing clinical development of its current product candidates (Filing 10-Q , GTx, MAY 12, 2014, View Source [SID:1234500512]).
GTx expects that its research and development expenses for fiscal year 2014 will decrease as compared to fiscal year 2013 due to the completion of the POWER 1 and POWER 2 clinical trials in 2013 and will be primarily focused on the continued clinical development of enobosarm and GTx-758.