Genentech

Recursion Provides Business Updates and Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, November 9, 2023
Research, Bayer, IND, Clostridioides difficile infection, Ovarian cancer, Hemangioma, FAP, Therapy, H100, Foundation models, Genetics, PB, SALT, Exercise, Software, Development, NF2, Pharmacokinetics, APC, NVIDIA, Clinical trial, Biology, Drug discovery, CCM, Partnership, Machine learning, Recursion, Meningioma, Personalized medicine, Benchmarking, LILAC, AXIN1, Genentech, Safety, Chemistry, Patient, Biotechnology, Map, Administration, Video game, Pharmaceutical industry, Fine chemical, Tempus

Revenue: Total revenue was $10.5 million for the third quarter of 2023, compared to $13.2 million for the third quarter of 2022.

Key Points: 
  • Revenue: Total revenue was $10.5 million for the third quarter of 2023, compared to $13.2 million for the third quarter of 2022.
  • General and Administrative Expenses: General and administrative expenses were $29.2 million for the third quarter of 2023, compared to $19.5 million for the third quarter of 2022.
  • Net Loss: Net loss was $93.0 million for the third quarter of 2023, compared to a net loss of $60.4 million for the third quarter of 2022.
  • Net Cash: Net cash used in operating activities was $72.9 million for the third quarter of 2023, compared to net cash used in operating activities of $54.5 million for the third quarter of 2022.

Immunome Appoints Jean-Jacques Bienaimé to Board of Directors

Retrieved on: 
Wednesday, November 8, 2023
Biotechnology, Pharmaceutical, Health, Oncology, Genzyme, Therapy, Commerce, University, Acquisition, Doctor of Philosophy, MBA, BIO, Incyte, Wharton School of the University of Pennsylvania, Growth, BioMarin Pharmaceutical, Retirement, Widener University Commonwealth Law School, JJ, Genentech, Cancer, Pharmacy, Patient, Jean-Jacques, Pharmaceutical Research and Manufacturers of America, Management, Genencor, Immunome

Immunome , Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, today announced the appointment of Jean-Jacques “JJ” Bienaimé to its Board of Directors.

Key Points: 
  • Immunome , Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, today announced the appointment of Jean-Jacques “JJ” Bienaimé to its Board of Directors.
  • Mr. Bienaimé has over three decades of experience in the biotechnology and pharmaceutical industries, most recently serving as Chairman and Chief Executive Officer of BioMarin Pharmaceuticals.
  • “Immunome is pleased to welcome JJ to the Board of Directors as we enter our next stage of growth,” stated Clay Siegall, PhD, President and Chief Executive Officer of Immunome.
  • His guidance will be essential as we advance our pipeline of potential first-in-class and best-in-class targeted cancer therapies.”
    “I am excited to join the Immunome Board of Directors as they work to bring transformative oncology therapeutics to the patients most in need,” commented Mr. Bienaimé.

Arvinas Reports Third Quarter 2023 Financial Results and Provides Corporate Update

Retrieved on: 
Tuesday, November 7, 2023
Research, Sale, Arm, Equity method, Bayer, ATM, ESMO, LRRK2, RPF, Enrollment, Greyhawk, Income tax, CTA, Prostate cancer, Exercise, Development, PROTAC, Pfizer, Clinical trial, BCL6, Neuroscience, CDK4, Breast cancer, State Administrative Expenses, ARVN, Genentech, European Society of Gynaecological Oncology, Investment, AR, Patient, Administration, Everolimus, Pharmaceutical industry, Medical imaging, Dietary supplement, Life insurance, IND, Gaius Papirius Carbo Arvina

NEW HAVEN, Conn., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today reported financial results for the third quarter ended September 30, 2023 and provided a corporate update.

Key Points: 
  • Research and Development Expenses: Research and development expenses were $85.9 million for the quarter ended September 30, 2023, as compared with $77.5 million for the quarter ended September 30, 2022.
  • General and Administrative Expenses: General and administrative expenses were $22.6 million for the quarter ended September 30, 2023, as compared with $20.0 million for the quarter ended September 30, 2022.
  • Revenues: Revenues were $34.6 million for the quarter ended September 30, 2023, as compared with $33.2 million for the quarter ended September 30, 2022.
  • Net Loss: Net loss was $64.0 million for the quarter ended September 30, 2023, as compared with $66.2 million for the quarter ended September 30, 2022.

Xencor Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 7, 2023
Oncology, Health, Clinical Trials, Research, Science, Pharmaceutical, Biotechnology, CLDN3, Ovarian cancer, CD28, Telephone, STEAP1, OMERS, CLDN4, Sale, Vir, ESMO, Amgen, Cytokine, Gilead Sciences, Antibody, Part, Safety, Cancer, Investment, Patient, Congress, G&A, Prostate cancer, CTA, ENPP3, CLDN6, Liver disease, Genentech, European Society for Medical Oncology, CLDN9, Tafasitamab, IND, CD3, Colorectal cancer, R, Environment, Ravulizumab, Lung cancer, PARP, Vaccine, Pharmaceutical industry, Medical imaging, Rare-earth element, Cryptocurrency, Omeros, Janssen, MorphoSys, Alexion, Astellas Pharma

Xencor, Inc. (NASDAQ:XNCR), a clinical-stage biopharmaceutical company developing engineered antibodies and cytokines for the treatment of patients with cancer and autoimmune diseases, today reported financial results for the third quarter ended September 30, 2023 and provided a review of recent business and clinical highlights.

Key Points: 
  • Xencor, Inc. (NASDAQ:XNCR), a clinical-stage biopharmaceutical company developing engineered antibodies and cytokines for the treatment of patients with cancer and autoimmune diseases, today reported financial results for the third quarter ended September 30, 2023 and provided a review of recent business and clinical highlights.
  • Total revenue for the third quarter ended September 30, 2023 was $59.2 million, compared to $27.3 million for the same period in 2022.
  • Decreased net loss in the third quarter of 2023 compared to 2022 is primarily due to additional income earned.
  • ET (1:30 p.m. PT) to discuss the third quarter 2023 financial results and provide a corporate update.

Zentalis Pharmaceuticals Reports Third Quarter 2023 Financial Results and Operational Updates

Retrieved on: 
Monday, November 6, 2023
Ovarian cancer, Research, PARP, AACR, Acute myeloid leukemia, Therapy, USC, G&A, Conference, WEE1, Maintenance, R, Clinical Ovarian Cancer & Other Gynecologic Malignancies, National Center for Advancing Translational Sciences, Senior, Development, Uterine serous carcinoma, Biology, Partnership, Cancer, GSK, Medication, ORR, Platinum, Culture, NDA, Genentech, Safety, Amyloidosis, American Association for Cancer Research, Patient, Administration, SAN, State Administrative Expenses, Pharmaceutical industry

“Azenosertib continues to show very encouraging monotherapy anti-tumor activity, safety and tolerability in both ovarian cancer and uterine serous carcinoma.

Key Points: 
  • “Azenosertib continues to show very encouraging monotherapy anti-tumor activity, safety and tolerability in both ovarian cancer and uterine serous carcinoma.
  • Zentalis is the only company known to have both a WEE1 inhibitor, azenosertib, and a BCL-2 inhibitor, ZN-d5, in clinical development.
  • Research and Development Expenses: Research and development (R&D) expenses for the quarter ended September 30, 2023 were $46.8 million, compared to $42.2 million for the quarter ended September 30, 2022.
  • General and Administrative Expenses: General and administrative (G&A) expenses for the quarter ended September 30, 2023 were $16.0 million, compared to $12.0 million during the quarter ended September 30, 2022.

Kronos Bio Announces Plan to Optimize Resource Allocation, Restructure and Contain Costs Following Positive Preliminary Clinical Data from its KB-0742 Phase 1/2 Study

Retrieved on: 
Thursday, November 2, 2023
KRON, Genentech, Cancer, AACR, Safety, Mechanism of action, Patient, SAN, Pharmaceutical industry

SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today announced a plan to optimize its resource allocation, restructure, and contain costs in light of the positive preliminary safety and efficacy clinical data from its Phase 1/2 study of KB-0742. This plan positions the company to maximize the potential of KB-0742 while continuing to advance the development of lanraplenib, currently in the dose escalation portion of a Phase 1b/2 study. The company will also focus its discovery efforts on maturing projects and its Genentech collaboration activities. Kronos Bio expects that these restructuring efforts, which include a 19% reduction in force, will extend its cash runway into 2026.

Key Points: 
  • This plan positions the company to maximize the potential of KB-0742 while continuing to advance the development of lanraplenib, currently in the dose escalation portion of a Phase 1b/2 study.
  • The company will also focus its discovery efforts on maturing projects and its Genentech collaboration activities.
  • Kronos Bio expects that these restructuring efforts, which include a 19% reduction in force, will extend its cash runway into 2026.
  • At the recent AACR-NCI-EORTC meeting, we shared positive preliminary efficacy and safety data from the Phase 1 dose escalation portion of the Phase 1/2 KB-0742 study.

Relay Therapeutics Reports Third Quarter 2023 Financial Results and Corporate Highlights

Retrieved on: 
Thursday, November 2, 2023
Research, PRS, AACR, Genentech, Conference, Investment, Triple, Clinical trial, Breast cancer, Therapy, Patient, Fulvestrant, D, Pharmaceutical industry, Birth control

CAMBRIDGE, Mass., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today reported third quarter 2023 financial results and corporate highlights.

Key Points: 
  • Approximately $811 million in cash, cash equivalents and investments at end of Q3 2023, expected to fund operations into second half of 2026
    CAMBRIDGE, Mass., Nov. 02, 2023 (GLOBE NEWSWIRE) -- Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, today reported third quarter 2023 financial results and corporate highlights.
  • Relay Therapeutics expects its current cash, cash equivalents and investments will be sufficient to fund its current operating plan into the second half of 2026.
  • Revenue: Revenue was $25.2 million for the third quarter of 2023, as compared to $0.3 million for the third quarter of 2022.
  • G&A Expenses: General and administrative expenses were $18.5 million for the third quarter of 2023, as compared to $16.1 million for the third quarter of 2022.

Sosei Heptares Will Receive US$3.75 Million Payment in Multi-Target Partnership

Retrieved on: 
Tuesday, October 31, 2023
BioScience Research Collaborative, Therapy, GPCR, Medicine, Drug discovery, Research, US, Roche, Fine chemical, Genentech

Tokyo, Japan and Cambridge, UK, 31 October 2023 – Sosei Group Corporation (“Sosei Heptares” or “the Company”; TSE: 4565) will receive a US$3.75 million milestone payment under the 2019 multi-target Research Collaboration and License Agreement with Genentech, a member of the Roche Group.

Key Points: 
  • Tokyo, Japan and Cambridge, UK, 31 October 2023 – Sosei Group Corporation (“Sosei Heptares” or “the Company”; TSE: 4565) will receive a US$3.75 million milestone payment under the 2019 multi-target Research Collaboration and License Agreement with Genentech, a member of the Roche Group.
  • The discovery-based payment is related to progression of a potential first-in-class project targeting an undisclosed G protein-coupled receptor (“GPCR”).
  • Under the terms of the agreement, Sosei Heptares is eligible to receive future milestone payments from Genentech, which in total may exceed US$1 billion upon achieving pre-specified research, development and commercialization events.
  • Dr. Matt Barnes, President of Heptares Therapeutics and Head of UK R&D at Sosei Heptares, said: “We are extremely pleased to see the progression of this novel first-in-class project.

ProfoundBio Readies for Next Phase of Growth with Management Team Additions and Advisory Board Appointment

Retrieved on: 
Thursday, November 2, 2023
Research, Thought Leadership, Clinical Trials, Professional Services, Biotechnology, Health, Pharmaceutical, Science, Oncology, IPO, Pharmacyclics, Catalent, Alder, Therapy, Hematology, Nutcracker, MBS, Head, CMC, Seagen, Lundbeck, University of California, Acquisition, PTK7, Protein, Economics, Lundbeck Seattle Biopharmaceuticals, Yale University, Immunotherapy, Growth, SITC, ADC, Division, University, Biology, Amgen, Baxter International, Internal medicine, Merrill (company), Business, Keck Graduate Institute, Society for Immunotherapy of Cancer, Genentech, Society, Cancer, Seattle, University of Southern California, Coronavirus Scientific Advisory Board, Fine chemical, Management, Biochemistry, Proteolix, Chiron, Spacecraft, Western Washington University

We are thrilled to welcome Erin and Kevin to our leadership team as we plan for this next stage of growth.

Key Points: 
  • We are thrilled to welcome Erin and Kevin to our leadership team as we plan for this next stage of growth.
  • In addition, as chair of our Scientific Advisory Board, Lori brings decades of clinical thought-leadership and strategic product development experience in ADCs.
  • We look forward to working alongside them.”
    ProfoundBio also announced additional changes to the company's executive team.
  • Co-founders Tae Han and Xiao Shang will take on the roles of chief strategy officer and head of CMC, respectively.

IDEOlogy Health Appoints Sandra Park as General Counsel and Chief Compliance Officer

Retrieved on: 
Monday, November 6, 2023
FDA, Assistant, Physician, Publication, Ideology, Biopharma LLC, University of North Carolina, Chapel Hill, George Mason University, Pharmacy, University, Genentech, General counsel, Pharmaceutical industry

AUSTIN, Texas, Nov. 6, 2023 /PRNewswire/ -- IDEOlogy Health, a leading medical education company, announced that Sandra Park will join the company as General Counsel and Chief Compliance Officer effective today.

Key Points: 
  • AUSTIN, Texas, Nov. 6, 2023 /PRNewswire/ -- IDEOlogy Health, a leading medical education company, announced that Sandra Park will join the company as General Counsel and Chief Compliance Officer effective today.
  • Sandra will lead the legal and compliance functions for IDEOlogy Health, providing internal stakeholders with strategic and solutions-oriented advice and legal direction.
  • "I am thrilled to join IDEOlogy's mission in providing unbiased medical information to their network of physicians," said Sandra Park.
  • Prior to Kite, Sandra served as Assistant General Counsel at Genentech, Regulatory Counsel at the FDA, and outside counsel for a wide variety of healthcare clients.