ADCT announced that it has completed a series of strategic transactions in which it entered into a new $175 million senior secured term loan with certain funds of Owl Rock, a division of Blue Owl Capital, and funds managed by Oaktree Capital Management with an upfront tranche of $120 million received upon closing. The company also settled in full the $115 million aggregate principal amount of senior secured convertible notes held by Deerfield Management due May 2025.
Immunogen provided an update on the pivotal Phase 2 CADENZA study of pivekimab sunirine (pivekimab) in blastic plasmacytoid dendritic cell neoplasm. Review of data from first 10 patients demonstrates significant activity and favorable tolerability in both de novo patients and those with a prior or concomitant hematologic malignancy.
Mersana announced the initiation of patient dosing in the company’s Phase 1 trial of XMT-1660, the company’s Dolasynthen ADC targeting B7-H4. Separately, the company announced option agreement with GSK for the co-development and commercialization of XMT-2056, an immunosynthen ADC targeting HER-2, worth $1.6 billion.
Sagen issued a statement regarding the outcome of the arbitration with Daiichi Sankyo relating to the parties’ 2008 collaboration agreement for the use of Seagen’s ADC technology. The arbitrator ruled in favor of Daiichi Sankyo, citing statute of limitations and disagreement with Seagen on the interpretation of the contract.
The short interest of Alkermes increased in August by 4% to 7,677,528 on August 15, compared to 7,384,865 on July 15.
The short interest of ImmunityBio increased in August by 3% to 18,945,501 on August 15, compared to 18,456,434 on July 15.
Nektar announced preclinical publication in Blood Advances highlighting the effects of NKTR-255, a novel polymer-conjugated human IL-15, on NK cell function and proliferation in multiple myeloma. These findings demonstrate the promising anti-tumor activity of IL-15 in engaging natural killer cell biology in indications with immunosuppressive tumor microenvironments as in multiple myeloma.
Xencor reported net loss for 2Q 2022 was $34 million, or $0.57 per share, compared to net income of $52 million, or $0.87 per share, for the same period in 2021. For the six months, net loss was $10 million, or $0.17 per share, compared to net income of $50 million, or $0.82 per share, for the same period in 2021.
Allogene reported net loss for the second quarter of 2022 was $75 million, or $0.52 per share, including non-cash stock-based compensation expense of $23 million.
Autolus reported net loss of $42 million, or $0.46 per share, for 2Q 2022, as compared to $33 million, or $0.47 per share, for 2Q 2021.
Bellicum reported net loss of $4 million and $12 million for 2Q and 1H 2022, respectively, compared to net loss of $2 million and $14 million for 2Q and 1H 2021, respectively.
Mustang reported net loss of $19 million, or $0.19 per share, for 2Q 2022, compared to loss of $14 million, or $0.16 per share, for 2Q 2021.
Arcus reported net loss of $67 million for the second quarter, compared to a net loss of $76 million for the prior year. Net loss was $135 million for the six months, compared to a net loss of $149 million in the prior year.
Immutep announced new interim data from second line NSCLC patients in the Phase 2 TACTI-002 trial evaluating efti with Keytruda. Median OS was 9.7 months for those who received chemo free therapy or efti in combo with Keytruda.
Clovis revealed in its quarterly report that its flagship drug Rubraca pulled in a meager $32 million for the quarter, which represents a 13% drop in year-over-year sales. The company reported $71 million net loss for the quarter.