Stemline Therapeutics Reports Third Quarter 2017 Financial Results

On November 9, 2017 Stemline Therapeutics, Inc. (Nasdaq: STML), a clinical-stage biopharmaceutical company developing novel therapeutics for difficult to treat cancers, reported financial results for the quarter ended September 30, 2017 (Press release, Stemline Therapeutics, NOV 9, 2017, View Source [SID1234521904]). The Company also reviewed recent clinical and regulatory events, and outlined key upcoming milestones:

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Pivotal Trial of SL-401 In Blastic Plasmacytoid Dendritic Cell Neoplasm (BPDCN)

· On October 31, 2017, we announced that the pivotal trial of SL-401 in blastic plasmacytoid dendritic cell neoplasm (BPDCN) met its primary endpoint.

· We anticipate that a Biologics License Application (BLA) submission could begin in the fourth quarter of 2017 or first quarter of 2018.

· We plan to have detailed data on this trial presented at the upcoming 2017 American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting, being held December 9-12 in Atlanta, GA.

Additional Clinical Trials — SL-401, SL-801, SL-701

· SL-401 is also being evaluated in ongoing Phase 1/2 trials in additional indications including certain myeloproliferative neoplasms (MPN) (chronic myelomonocytic leukemia [CMML] and myelofibrosis [MF]), acute myeloid leukemia (AML), and multiple myeloma, as a single agent or in combination with other agents. We expect to provide updates on some of these studies at ASH (Free ASH Whitepaper) and on into next year.

· SL-801 Phase 1 results in patients with advanced solid tumors were the subject of a presentation at the European Society of Medical Oncology (ESMO) (Free ESMO Whitepaper) Annual Congress in September. Dose escalation is ongoing, and the trial is currently enrolling patients in the eighth dosing cohort.

· SL-701 has completed dosing in a Phase 2 trial of patients with second-line glioblastoma. We plan to provide an update on the trial at the upcoming Society for Neuro-Oncology (SNO) meeting in November.

Third Quarter 2017 Financial Results Review

Stemline ended the third quarter of 2017 with $79.9 million in cash, cash equivalents and investments, as compared to $93.2 million as of June 30, 2017, which reflects cash expenditures of $13.3 million for the quarter. The company ended the third quarter of 2017 with 25.3 million shares outstanding.

For the third quarter of 2017, Stemline had a net loss of $16.1 million, or $0.68 per share, compared with a net loss of $9.9 million, or $0.56 per share, for the same period in 2016.

Research and development expense was $12.4 million for the quarter ended September 30, 2017, compared with $7.2 million for the quarter ended September 30, 2016, representing an increase of $5.2 million. The higher costs are primarily driven by an increase of $2.4 million in manufacturing expenses to support our upcoming potential BLA filing for SL-401. We also incurred $2.1 million in higher regulatory costs to support our potential BLA filing for SL-401.

General and administrative expense was $4.2 million for the quarter ended September 30, 2017, compared with $3.2 million for the quarter ended September 30, 2016, representing an increase of $1.0 million. The increase in expense was primarily attributable to $0.6 million in higher legal expenses. Additionally, the higher costs were due to $0.2 million of pre-launch expenses in support of a potential commercialization of SL-401 in BPDCN, if marketing approval from the FDA is received.

Iovance Biotherapeutics Announces New LN-144 Phase 2 Clinical Data from Metastatic Melanoma Trial to be Presented at SITC Meeting

On November 9, 2017 Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL) technology, reported early efficacy and safety data from Cohort 2 of the ongoing Phase 2 LN-144 metastatic melanoma trial (C-144-01) (Press release, Iovance Biotherapeutics, NOV 9, 2017, View Source;p=RssLanding&cat=news&id=2315820 [SID1234521876]). These data, being presented as a late-breaking poster (Poster #515) on Friday, November 10, 2017 at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) 32nd Annual Meeting in National Harbor, Maryland, show that administration of the company’s Generation 2 (Gen 2) manufacturing process in nine efficacy-evaluable metastatic melanoma patients resulted in a disease control rate (DCR) of 78%, which includes 3 confirmed partial responders (PRs) and a fourth PR awaiting confirmation. These patients had four median prior therapies. The Gen 2 manufacturing process reduces the process time to 22 days and the cell product is cryopreserved for ease of administration and handling.

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"The new study findings presented at SITC (Free SITC Whitepaper) indicate encouraging preliminary efficacy from patients in Cohort 2 with advanced metastatic melanoma disease, who were treated with our cryopreserved TIL product LN-144," said Maria Fardis, PhD, MBA, Iovance Biotherapeutics President and Chief Executive Officer. "We are excited to be able to offer patients a TIL product manufactured with a significantly shorter process, minimizing the time a patient has to wait to receive their TIL. The cryopreservation of the product further offers the clinical sites flexibility of scheduling the patient dosing. The reduction in duration of manufacturing will reduce our manufacturing costs as well. We intend to make the decision regarding which manufacturing process to utilize for our ongoing and future clinical trials by year-end and in advance of initiation of our regulatory interactions."

In addition to the late-breaking poster, a poster will be presented on the new Gen 2 manufacturing protocol, highlighting key improvements around the current high throughput commercial manufacturing method (Poster #203). A third poster will demonstrate utility of a new reagent used for TIL expansion and effector function (Poster #357), and a fourth poster will provide data regarding investigation of key quality attributes of TIL product (Poster #194). The company will also present two posters in the Clinical Trials in Progress session that include the design of LN-145 in head and neck and cervical cancer. The details of the poster presentations are as follows:

Cellular Therapy Approaches Late-Breaking Abstract

Title: Novel Cryopreserved Tumor Infiltrating Lymphocytes (LN-144) Administered to Patients with Metastatic Melanoma Demonstrates Efficacy and Tolerability in a Multicenter Phase 2 Clinical Trial
Authors: Sarnaik, et al.
Poster #: 515
Presentation date: Friday, November 10, 2017

Key Takeaways:

Preliminary efficacy data from nine patients in Cohort 2 shows a DCR of 78% including three partial responses and a fourth awaiting confirmation.
Preliminary data to date show that the safety profile of Gen 2 LN-144 therapy is similar to Gen 1 LN-144 therapy previously presented at ASCO (Free ASCO Whitepaper) 2017. The most common adverse events reported were pyrexia, anaemia and nausea.
Cellular Therapy Approaches Abstracts

Title: A Cryopreserved TIL Product, LN-144, Generated with an Abbreviated Method Suitable for High Throughput Commercial Manufacturing Exhibits Favorable Quality Attributes for Adoptive Cell Transfer
Authors: Wardell, et al.
Poster #: 203
Presentation date: Friday, November 10, 2017

Key Takeaways:

The Iovance Generation 2 manufacturing process produces a potentially potent TIL product with comparable quality attributes to the Generation 1 manufacturing process.
The abbreviated 22-day expansion platform allows for the rapid generation of TIL product for patients in urgent need of therapy. The cryopreserved product also offers flexibility of patient dosing.
The cryopreserved drug product introduces critical logistical efficiencies allowing flexibility in distribution, and overcomes traditional barriers to the wider application of TIL therapy.
Title: Studies of Key Quality Attributes for TIL Product, LN-144
Authors: Ritthipichai, et al.
Poster #: 194
Presentation date: Saturday, November 11, 2017

Key Takeaways:

Commercial manufacturing of TIL products will require a robust analytical platform to ensure consistent delivery of products meeting the critical quality attributes of cellular therapeutics.
Study shows TIL products manufactured by Iovance are composed of greater than 99% CD45+CD3+ T cells.
Residual melanoma cells in TIL products were below the limit of detection using a specialized assay developed for this assessment.
Immune Modulation, Cytokines, and Antibodies Abstract

Title: The T-cell Growth Factor Cocktail IL-2/IL-15/IL-21 Enhances Expansion and Effector Function of
Tumor-Infiltrating T cells in a Novel Process Developed by Iovance
Authors: Simpson-Abelson, et al.
Poster #: 357
Presentation date: Friday, November 10, 2017

Key Takeaways:

This study demonstrates the positive effects of adding IL-15 and IL-21 to the standard IL-2-containing cell culture in an ex vivo TIL generation protocol.
Clinical Trials (In Progress) Abstracts

Title: A Phase 2 Study to Evaluate the Safety and Efficacy Using Autologous Tumor Infiltrating Lymphocytes (LN-145) in Patients with Recurrent and/or Metastatic Squamous Cell Carcinoma of the Head and Neck
Authors: Leidner, et al.
Poster #: 221
Presentation date: Friday, November 10, 2017

Title: A Phase 2, Multicenter Study to Evaluate the Efficacy and Safety Using Autologous Tumor Infiltrating Lymphocytes (LN-145) in Patients with Recurrent, Metastatic, or Persistent Cervical Carcinoma
Authors: Jazaeri, et al.
Poster #: 220
Presentation date: Saturday, November 11, 2017

Additional information including the presentation schedule and full abstracts can be found on the conference website: View Source

Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements". The Company may, in some cases, use terms such as "predicts," "believes," "potential," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company’s statements regarding trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the efficacy, safety, tolerability and cost of the Gen 2 manufacturing process, the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for its current product candidates, including statements regarding the timing of initiation and completion of the trials; the timing of and its ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, its product candidates; the strength of Company’s product pipeline; the successful implementation of the Company’s research and development programs and collaborations; the success of the Company’s license or development agreements; the acceptance by the market of the Company’s product candidates, if approved; and other factors, including general economic conditions and regulatory developments, not within the Company’s control. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. A further list and description of the Company’s risks, uncertainties and other factors can be found in the Company’s most recent Annual Report on Form 10-K and the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov or www.iovance.com. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.

10-Q – Quarterly report [Sections 13 or 15(d)]

Sorrento Therapeutics has filed a 10-Q – Quarterly report [Sections 13 or 15(d)] with the U.S. Securities and Exchange Commission (Filing, 10-Q, Sorrento Therapeutics, 2017, NOV 9, 2017, View Source [SID1234521834]).

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Ophthotech Reports Third Quarter 2017 Financial and Operating Results

On November 8, 2017 Ophthotech Corporation (Nasdaq: OPHT) reported financial and operating results for the third quarter ended September 30, 2017 and provided a business update (Press release, Ophthotech, NOV 8, 2017, View Source [SID1234521757]).

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"We are very excited to update you on the expansion of our age related and orphan retina programs with our complement C5 inhibitor, Zimura," stated Glenn P. Sblendorio, Chief Executive Officer and President of Ophthotech. "Scientific literature continues to strengthen our belief in the potential role of complement C5 inhibition in the treatment of retinal diseases. We have progressed in all of our clinical programs by initiating new trials and modifying a current clinical trial. We remain on track to have four trials ongoing by the end of the year."

Zimura Complement Factor C5 Inhibitor Program


Geographic Atrophy, a severe form of Dry Age-related Macular Degeneration: Ophthotech has modified its on-going Zimura (avacincaptad pegol) clinical trial for the treatment of geographic atrophy (GA) secondary to dry age related macular degeneration (AMD). This on-going randomized, double-masked, sham controlled Phase 2b clinical trial is designed to assess the safety and efficacy of Zimura monotherapy in patients with GA. The Company has modified the design of the trial to accelerate the anticipated timeline for obtaining top-line data. The Company has reduced the number of patients it plans to enroll in this trial to approximately 200 and has shortened the time point for attaining the primary efficacy endpoint to 12 months. The number of sites has been expanded within the United States and globally to expedite enrollment. The primary efficacy endpoint is the mean rate of change in GA over 12 months. Patients will be treated and monitored for 18 months. The modified study design incorporates patients that were already enrolled in the study prior to these modifications. A range of Zimura dosing regimens will also be assessed. The Company submitted a modified Phase 2b clinical trial protocol to the U.S. Food and Drug Administration (FDA) early in the fourth quarter of 2017. Initial, top-line data is expected to be available during the second half of 2019.


Wet Age-related Macular Degeneration: During the third quarter of 2017, the Company initiated a new dose-ranging, open-label Phase 2a clinical trial of Zimura in combination with Lucentis in patients with wet AMD who have not been previously treated with any anti-VEGF agents. Approximately 60 patients will be enrolled and

treated for a duration of 6 months. Based on the anticipated enrollment rate, the Company expects initial top-line data from this trial to be available by the end of 2018.


Idiopathic Polypoidal Choroidal Vasculopathy: The Company plans to initiate before year end an open-label Phase 2a clinical trial evaluating Zimura in combination with Eylea for the treatment of idiopathic polypoidal choroidal vasculopathy (IPCV) in treatment experienced patients. Approximately 20 patients will be enrolled and treated for a duration of 9 months. Initial top-line data is expected to be available during the second half of 2019.

Ophthalmic Orphan Disease Program


Autosomal Recessive Stargardt Disease: Ophthotech remains on track to initiate a Phase 2b randomized, double masked, sham controlled clinical trial in autosomal recessive Stargardt disease (STGD1) before the end of this year. This trial will assess the safety and efficacy of Zimura monotherapy in patients with STGD1, an inherited orphan retinal disease causing vision loss during childhood or adolescence. There are currently no FDA or EMA approved treatments available for STGD1 and it remains a significant unmet medical need. The Company expects to enroll approximately 120 patients in this trial, making it one of the largest interventional clinical trials in Stargardt disease to date. The Company plans to use an anatomic endpoint as measured by spectral domain optical coherence tomography (SD-OCT) as the primary endpoint, which will be assessed at 18 months. Initial top-line data is expected to be available in 2020.

Third Quarter 2017 Financial Highlights


Cash Position: As of September 30, 2017, the Company had $180.2 million in cash and cash equivalents. The Company expects a 2017 year end cash balance of between $155 million and $165 million, excluding any potential business development activities, and including the approximately $5 million to $7 million that remains committed to implementing a reduction in personnel and winding-down the Fovista (pegpleranib) in combination with Eylea or Avastin clinical trial.


Revenues: Collaboration revenue was $206.7 million for the quarter ended September 30, 2017, compared to $1.7 million for the same period in 2016. For the nine months ended September 30, 2017, collaboration revenue was $210 million, compared to $45.6 million for the same period in 2016. Collaboration revenue increased in both the quarter and nine months ended September 30, 2017 as the Company completed all deliverables required under its licensing and commercialization agreement with Novartis Pharma AG and recognized all associated deferred revenue. This increase in collaboration revenue had no impact on the Company’s cash balance.


R&D Expenses: Research and development expenses were $10.7 million for the quarter ended September 30, 2017, compared to $50.9 million for the same period in 2016. For the quarter ended September 30, 2017, research and development expenses included approximately $0.9 million in costs related to the Company’s previously announced reduction in personnel. For the nine months ended September 30, 2017, research and development expenses were $58.3 million, compared to $136.9 million for the same period in 2016. For the nine months ended September 30,

2017, research and development expenses included approximately $6.8 million in costs related to the Company’s previously announced reduction in personnel. Research and development expenses decreased in both the quarter and nine months ended September 30, 2017 primarily due to a decrease in expenses related to the Company’s Fovista Phase 3 clinical program, including a decrease in manufacturing activities.


G&A Expenses: General and administrative expenses were $7.1 million for the quarter ended September 30, 2017, compared to $12.0 million for the same period in 2016. For the quarter ended September 30, 2017, general and administrative expenses included approximately $0.5 million in costs related to the Company’s previously announced reduction in personnel. For the nine months ended September 30, 2017, general and administrative expenses were $28.8 million, compared to $37.2 million for the same period in 2016. For the nine months ended September 30, 2017, general and administrative expenses included approximately $5.1 million in costs related to the Company’s previously announced reduction in personnel and its termination of facilities leases. General and administrative expenses decreased in both the quarter and nine months ended September 30, 2017 primarily due to a decrease in costs to support the Company’s operations and infrastructure.


Net Income: The Company reported net income for the quarter ended September 30, 2017 of $189.1 million, or $5.25 per diluted share, compared to a net loss of $60.9 million, or ($1.71) per diluted share, for the same period in 2016. For the nine months ended September 30, 2017, the Company reported net income of $123.7 million, or $3.44 per diluted share, compared to a net loss of $127.1 million, or ($3.59) per diluted share, for the same period in 2016.

Conference Call/Web Cast Information
Ophthotech will host a conference call/webcast to discuss the Company’s financial and operating results and provide a business update. The call is scheduled for November 8, 2017 at 8:00 a.m. Eastern Time. To participate in this conference call, dial 800-239-9838 (USA) or +1 323-794-2551 (International), passcode 7300213. A live, listen-only audio webcast of the conference call can be accessed on the Investor Relations section of the Ophthotech website at: www.ophthotech.com. A replay will be available approximately two hours following the live call for two weeks. The replay number is 888-203-1112 (USA Toll Free), passcode 7300213

AmpliPhi Biosciences to Hold 2017 Third Quarter and Business Update Conference Call on November 14

On November 8, 2017 AmpliPhi Biosciences Corporation (NYSE American: APHB), a clinical-stage biotechnology company focused on the development of therapies for antibiotic-resistant infections using bacteriophage technology, reported that management will hold a business update conference call on Tuesday, November 14, 2017 beginning at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) (Press release, AmpliPhi Biosciences, NOV 8, 2017, View Source [SID1234521787]).

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Live Call: U.S. 866-652-5200
International 412-317-6060
Passcode 10114360

Live Webcast:
AmpliPhi IR Website
The webcast replay will be available approximately 2 hours after completion of the call and will be archived for 30 days.

Replay: U.S. 877-344-7529
International 412-317-0088
Passcode 10114360
The replay will be available for 48 hours starting approximately 2 hours after completion of the call.