Generex Biotechnology Announces Investor Conference Call; Management to Provide Update on Acquisitions, Financing Initiatives & Strategic Plans

On January 10, 2019 Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) reported that it will hold an investor conference call on Wednesday, January 16th, at 4:00 p.m. to update investors on the previously announced and pending acquisitions that offer significant value to the Generex parent company (Press release, Generex, JAN 10, 2019, View Source [SID1234532615]). Joseph Moscato, Generex President & Chief Executive Officer, will discuss the company’s financing plans related to the acquisitions, as well as the strategic focus of Generex for 2019 and beyond. Additionally, Mr. Moscato will provide guidance on the recent merger of Antigen Express into the newly-formed NuGenerex Immuno-oncology, and the proposed spin-out of the company as an independent, public company with a new direction and strategic focus to advance the Ii-Key technology for the immunotherapy of cancer, which includes plans for a rights offering and stock dividend for Generex shareholders in NuGenerex Immuno-Oncology. Further, Mr. Moscato will discuss plans to up-list Generex to a major stock exchange.

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Mr. Moscato stated, "We have worked diligently over the last several years to transform Generex into an integrated healthcare holding company. In the last two years, we have completed a complex reorganization plan, and we continue to execute on the strategic acquisition of several exciting companies with revenues, products, and new technologies.

"We are in the early stages of our plan that has begun with acquisitions of an MSO network of physicians and surgeons, pharmacies, a laboratory, a surgical supply business, a manufacturer of surgical implants, and two regenerative medicine companies, Regentys and Olaregen. These and future acquisitions will enable Generex to grow through generating significant product and service revenues, while creating exponential value for our shareholders through development of our deep pipeline of clinical-stage assets. I look forward to addressing my fellow Generex shareholders to provide details about recent and pending acquisitions, our growth strategies for NuGenerex Distribution Solutions, and the launch of Generex’s first commercial product Excellagen. I will also discuss the strategy to spin out NuGenerex Immuno-Oncology as an independent public company, with an update on the plan for up-listing Generex."

Dial-in instructions for the investor conference call will be announced on Monday, January 14, 2019.

Advaxis Reports Fiscal Year 2018 Financial Results and Provides a Business Update

On January 10, 2019 Advaxis, Inc. (NASDAQ: ADXS) (the Company), a late-stage biotechnology company focused on the discovery, development and commercialization of immunotherapy products, reported its financial results for the fiscal year ended October 31, 2018 and provides a business update (Press release, Advaxis, JAN 10, 2019, View Source [SID1234532616]).

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Fiscal Year 2018 and Recent Key Accomplishments

Received U.S. Food and Drug Administration allowance of the Investigational New Drug application for the Company’s first ADXS-HOT off-the-shelf neoantigen drug candidate, ADXS-503, for the treatment of all types of non-small cell lung cancer;
Dosed the first patients in the ADXS-NEO Phase 1 dose-escalation study in patients with several solid tumor types;
Raised gross proceeds totaling approximately $40 million from an underwritten public offering of common stock and an underwritten public offering of common stock and warrants;
Appointed a permanent chief executive officer, Kenneth A. Berlin, a new chief medical officer, Andres Gutierrez, M.D., and a new chief financial officer, Molly Henderson;
Licensed ADXS-HER2 to OS Therapies for evaluation in the treatment of pediatric osteosarcoma;
Significantly reduced annual net cash usage through a prioritization of programs and assets; and
Presented and published data from several preclinical and clinical trials with the Company’s drug candidates.
Management Commentary

"Fiscal 2018 was an eventful year for Advaxis as we worked to reorganize the company, prioritize our pipeline and define a strategic direction that supports our mission to improve the lives of people suffering from cancer and their loved ones," said Kenneth A. Berlin, president and chief executive officer of Advaxis. "Our diverse pipeline of drug candidates and constructs at various stages of development is based on our proprietary Lm platform, which has a significant safety database from first-generation constructs already tested in humans."

Mr. Berlin added, "We are dosing patients under our ADXS-NEO program and anticipate the first patient to be enrolled in our ADXS-503 study within the next several weeks. These are significant accomplishments for the Company and we’re excited to start to see early correlative and safety data from these neoantigen programs during the first half of 2019."

Mr. Berlin continued, "During the second half of fiscal year 2018 we took steps to significantly reduce our cash burn and align our spending in keeping with a company our size. We are committed to advancing our various clinical programs as rapidly and cost effectively as possible throughout fiscal year 2019. We also continue to evaluate opportunities for partnerships and collaborations across all of our programs, and anticipate several catalysts for the Company in 2019. We remain committed to demonstrating that the drug candidates emanating from our Lm platform have the potential to positively impact people with cancer," Mr. Berlin concluded.

Balance Sheet Highlights

As of October 31, 2018, Advaxis had cash and cash equivalents of $44.1 million. The Company used $62.1 million in cash to fund operations during fiscal 2018, mainly attributed to funding research and development and general and administrative activities. Throughout fiscal 2018, the Company completed an in-depth review of all programs and cash expenditures, and reduced its net annual cash usage to approximately $50 million.

Fiscal Year 2018 Financial Information

Research and development expenses for fiscal 2018 were $57.0 million, compared with $70.5 million for fiscal 2017. The $13.5 million decrease was primarily attributable to a decrease in laboratory costs, drug manufacturing process validation and drug stability studies.

General and administrative expenses for fiscal 2018 were $19.5 million, compared with $40.0 million for fiscal 2017. The $20.5 million decrease was primarily attributable to an $18.0 million decrease in stock-based compensation expense.

The net loss for the fiscal year ended October 31, 2018 was $66.5 million or $1.29 per share based on 51.5 million weighted average shares outstanding. This compares with a net loss for fiscal 2017 of $93.4 million or $2.31 per share based on 40.5 million weighted average shares outstanding.

Conference Call and Webcast Information

Advaxis’ senior management will host a conference call to review financial results, provide a business update and answer questions at 11:00 a.m. Eastern time on Tuesday, January 15, 2019.

To access the conference call please dial (844) 348-6133 for domestic callers or (631) 485-4564 for international callers. A live and archived audio webcast of the call will be available on the Company’s website at www.ir.advaxis.com/news-events.

A recording will be available beginning two hours after the call ends by dialing (855) 859-2056 for domestic callers or (404) 537-3406 for international callers and providing conference ID 4862946.

Basilea Announces Positive Interim Results from Registrational Phase 2 Study with Oncology Drug Candidate Derazantinib in Intrahepatic Cholangiocarcinoma (iCCA)

On January 9, 2019 ArQule, Inc.’s (Nasdaq: ARQL) partner, Basilea Pharmaceutica Ltd. (SIX: BSLN), reported results from the interim analysis of the registrational Phase 2 study with the orally administered pan-fibroblast growth factor receptor (FGFR) kinase inhibitor derazantinib (BAL087) (Press release, ArQule, JAN 9, 2019, View Source [SID1234532595]). The analysis showed promising activity in patients with FGFR2 gene fusion-expressing intrahepatic cholangiocarcinoma (iCCA) and also confirmed the safety profile and tolerability of the drug candidate observed in previous clinical studies.

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The interim analysis in the ongoing registrational Phase 2 study was conducted after 42 patients had been enrolled in the study, with a subset of 29 evaluable patients who had at least one post-baseline imaging assessment. The objective response rate (ORR) in the 29 evaluable patients was 21%. The disease control rate (DCR), reflecting the proportion of patients with a partial response or with stable disease, was 83%. The safety data obtained from all 42 patients enrolled to date was consistent with the results from previous clinical studies with derazantinib.

View Source

Peter Lawrence, President and Chief Operating Officer of ArQule, said, "We are pleased with derazantinib’s continued progress since it was licensed to Basilea Pharmaceutica in April 2018 in the US, EU, Japan and rest of world excluding Greater China. Under the terms of the license agreement, ArQule is eligible to receive up to $326 million in regulatory and commercial milestone payments, and we look forward to further progress and updates from Basilea."

Moleculin Announces Patient Recruitment Begins in Annamycin Clinical Trial In Poland

On January 9, 2019 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company focused on the development of oncology drug candidates, all of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, reported it has begun in Poland recruiting patients in the Company’s second clinical trial to study Annamycin for the treatment of relapsed and refractory adults with acute myeloid leukemia ("AML") (Press release, Moleculin, JAN 9, 2019, View Source [SID1234532596]).

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"We are encouraged to see ready access to qualified patients in Poland," commented Walter Klemp, Moleculin’s Chairman and CEO. "Having now cleared the unique European approval process to ship Annamycin, which had delayed the start of the trial in Poland, clinical supplies are now in country and ready to treat patients. The sites there have begun the patient screening and recruitment process. Our expectation is that the fewer number of AML clinical trials in Poland as compared with the U.S. will give us an opportunity to complete the Phase 1 arm more quickly here."

Seattle Genetics Announces Publication of North American Subgroup Data from ECHELON-1 Phase 3 Clinical Trial of ADCETRIS® (Brentuximab Vedotin) in Newly Diagnosed Advanced Hodgkin Lymphoma

On January 9, 2019 Seattle Genetics, Inc. (Nasdaq:SGEN) reported the publication of data from the ECHELON-1 phase 3 clinical trial online in the journal Clinical Cancer Research (Press release, Seattle Genetics, JAN 9, 2019, View Source [SID1234532597]). The publication, titled "Brentuximab Vedotin Plus Chemotherapy in North American Patients with Newly Diagnosed Stage III or IV Hodgkin Lymphoma," reports data from the North American patient population from ECHELON-1 evaluating ADCETRIS (brentuximab vedotin) in combination with AVD (Adriamycin, vinblastine and dacarbazine) in newly diagnosed stage III or IV classical Hodgkin lymphoma (HL). These data were previously presented in a poster presentation at the 2018 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting. In March 2018, the U.S. Food and Drug Administration (FDA) approved ADCETRIS in combination with AVD for the treatment of adult patients with previously untreated stage III or IV classical HL based on the positive results of the ECHELON-1 phase 3 clinical trial. ADCETRIS is an antibody-drug conjugate (ADC) directed to CD30, a defining marker of classical HL that plays a role in tumor growth and survival.

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"Prior to the FDA approval of ADCETRIS in combination with AVD, up to 30 percent of patients with advanced stage HL would not respond or would relapse following frontline treatment with ABVD (Adriamycin, bleomycin, vinblastine and dacarbazine)," said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. "In this pre-specified analysis of 497 patients with HL treated in North America, similar to overall trial results, ADCETRIS plus AVD was associated with a lower risk of a progression event compared to ABVD. This is important information for North American healthcare providers to have when making treatment decisions, where there is access to supportive care, and treatment patterns and physician familiarity with treating patients with ADCETRIS."

Of the 1,334 advanced stage classical HL patients who participated in the ECHELON-1 clinical trial, 497 patients were treated in North America, with 250 patients in the ADCETRIS plus AVD arm and 247 patients in the ABVD control arm. The manuscript presents the North American results which include:

A pre-specified sensitivity analysis showed per Independent Review Facility (IRF) assessment, the two-year modified progression-free survival (PFS) rate for patients in the ADCETRIS plus AVD arm was 84.3 percent compared to 73.7 percent in the control arm (HR 0.596; 95% CI: 0.40, 0.90), which corresponds to a difference of 10.6 percent.
On the ADCETRIS plus AVD arm, peripheral neuropathy events were observed in 80 percent of patients compared to 56 percent on the ABVD arm. In the ADCETRIS plus AVD arm, the majority of peripheral neuropathy events were Grade 1 or 2 (41 percent and 21 percent, respectively). Grade 3 events were reported in 17 percent of patients. In the ABVD arm, Grade 3 events were reported in less than one percent of patients. There were no Grade 4 events on either arm. Across both arms of the study, approximately 75 percent of the patients with peripheral neuropathy reported resolution or improvement at last follow-up.
Febrile neutropenia during treatment was reported in 20 percent of patients in the ADCETRIS plus AVD arm compared with nine percent in the ABVD arm. In the ADCETRIS plus AVD arm, 14 percent (35 patients) received primary prophylactic G-CSF within five days of starting treatment and nine percent (three patients) reported febrile neutropenia.
Pulmonary toxicity was reported in three percent of patients in the ADCETRIS plus AVD arm versus ten percent of patients in the ABVD arm. Grade ≥3 events were reported in two percent versus six percent of patients, in the ADCETRIS plus AVD and ABVD arms, respectively.
About Classical Hodgkin Lymphoma

Lymphoma is a general term for a group of cancers that originate in the lymphatic system. There are two major categories of lymphoma: Hodgkin lymphoma and non-Hodgkin lymphoma. Classical Hodgkin lymphoma is distinguished from other types of lymphoma by the presence of one characteristic type of cell, known as the Reed-Sternberg cell. The Reed-Sternberg cell expresses CD30.

According to the American Cancer Society, approximately 8,500 cases of Hodgkin lymphoma will be diagnosed in the United States during 2018 and more than 1,000 will die from the disease. Approximately half of all newly diagnosed Hodgkin lymphoma patients have Stage III/IV disease. According to the Lymphoma Coalition, over 62,000 people worldwide are diagnosed with Hodgkin lymphoma each year and approximately 25,000 people die each year from this cancer.

About ADCETRIS (brentuximab vedotin)

ADCETRIS is being evaluated broadly in more than 70 clinical trials in CD30-expressing lymphomas. These include three completed phase 3 trials: ECHELON-2 in frontline peripheral T-cell lymphomas, ECHELON-1 in previously untreated Hodgkin lymphoma, and ALCANZA in cutaneous T-cell lymphoma. The phase 3 CHECKMATE 812 trial of ADCETRIS in combination with Opdivo (nivolumab) for relapsed/refractory Hodgkin lymphoma is ongoing.

ADCETRIS is an ADC comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE), utilizing Seattle Genetics’ proprietary technology. The ADC employs a linker system that is designed to be stable in the bloodstream but to release MMAE upon internalization into CD30-expressing tumor cells.

ADCETRIS for injection for intravenous infusion has received FDA approval for six indications in adult patients with: (1) previously untreated systemic anaplastic large cell lymphoma (sALCL) or other CD30-expressing peripheral T-cell lymphomas (PTCL), including angioimmunoblastic T-cell lymphoma and PTCL not otherwise specified, in combination with cyclophosphamide, doxorubicin, and prednisone, (2) previously untreated Stage III or IV classical Hodgkin lymphoma (cHL), in combination with doxorubicin, vinblastine, and dacarbazine, (3) cHL at high risk of relapse or progression as post-autologous hematopoietic stem cell transplantation (auto-HSCT) consolidation, (4) cHL after failure of auto-HSCT or failure of at least two prior multi-agent chemotherapy regimens in patients who are not auto-HSCT candidates, (5) sALCL after failure of at least one prior multi-agent chemotherapy regimen, and (6) primary cutaneous anaplastic large cell lymphoma (pcALCL) or CD30-expressing mycosis fungoides (MF) who have received prior systemic therapy.

Health Canada granted ADCETRIS approval with conditions for relapsed or refractory Hodgkin lymphoma and sALCL in 2013, and non-conditional approval for post-autologous stem cell transplantation (ASCT) consolidation treatment of Hodgkin lymphoma patients at increased risk of relapse or progression in 2017, and adults with pcALCL or CD30-expressing MF who have had prior systemic therapy in 2018.

ADCETRIS received conditional marketing authorization from the European Commission in October 2012. The approved indications in Europe are: (1) for the treatment of adult patients with relapsed or refractory CD30-positive Hodgkin lymphoma following ASCT, or following at least two prior therapies when ASCT or multi-agent chemotherapy is not a treatment option, (2) the treatment of adult patients with relapsed or refractory sALCL, (3) for the treatment of adult patients with CD30-positive Hodgkin lymphoma at increased risk of relapse or progression following ASCT, and (4) for the treatment of adult patients with CD30-positive cutaneous T-cell lymphoma (CTCL) after at least one prior systemic therapy.

ADCETRIS has received marketing authorization by regulatory authorities in 72 countries for relapsed or refractory Hodgkin lymphoma and sALCL. See select important safety information, including Boxed Warning, below.

Seattle Genetics and Takeda are jointly developing ADCETRIS. Under the terms of the collaboration agreement, Seattle Genetics has U.S. and Canadian commercialization rights and Takeda has rights to commercialize ADCETRIS in the rest of the world. Seattle Genetics and Takeda are funding joint development costs for ADCETRIS on a 50:50 basis, except in Japan where Takeda is solely responsible for development costs.