Chemistry

Opthea Reports Half-Year Financial Results and Business Updates

Retrieved on: 
Wednesday, February 28, 2024

MELBOURNE, Australia and PRINCETON, N.J., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Opthea Limited (ASX:OPT; NASDAQ:OPT; “Opthea”), a clinical-stage biopharmaceutical company developing novel therapies to treat highly prevalent and progressive retinal diseases, today announced financial results for the six months ended December 31, 2023 and highlighted recent corporate and clinical updates.

Key Points: 
  • We recently announced the completion of enrollment in our first pivotal Phase 3 trial (COAST), in combination with EYLEA® (aflibercept),” said Frederic Guerard, PharmD, Chief Executive Officer of Opthea.
  • Peter Lang, Chief Financial Officer of Opthea, added, “We are excited about Opthea’s progress.
  • Top-line Phase 3 results from the COAST and ShORe trials expected by mid-CY 2025.
  • In August 2023, Opthea successfully completed a private placement and rights equity offering raising A$90 million (US$58 million) in Australia.

Nicox Appoints Experienced Biotech Executive Gavin Spencer as CEO

Retrieved on: 
Wednesday, February 28, 2024

Gavin Spencer was most recently Executive Vice-President, Chief Business Officer & Head of Corporate Development at Nicox.

Key Points: 
  • Gavin Spencer was most recently Executive Vice-President, Chief Business Officer & Head of Corporate Development at Nicox.
  • “I am delighted to welcome Gavin Spencer to his new role as CEO of Nicox.
  • Gavin brings exhaustive industry experience, particularly related to strategic partnership agreements and financing.
  • During his time with Nicox, since 2005, Gavin Spencer has had a key role in building and managing Nicox’s partnerships, including closing agreements with Pfizer, Bausch + Lomb, VISUfarma and Ocumension Therapeutics.

Recursion Provides Business Updates and Reports Fourth Quarter and Fiscal Year 2023 Financial Results

Retrieved on: 
Tuesday, February 27, 2024

SALT LAKE CITY, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today reported business updates and financial results for its fourth quarter and fiscal year ending December 31, 2023.

Key Points: 
  • SALT LAKE CITY, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today reported business updates and financial results for its fourth quarter and fiscal year ending December 31, 2023.
  • Research and Development Expenses: Research and development expenses were $69.5 million for the fourth quarter of 2023, compared to $44.0 million for the fourth quarter of 2022.
  • General and Administrative Expenses: General and administrative expenses were $30.5 million for the fourth quarter of 2023 compared to $19.8 million for the fourth quarter of 2022.
  • Net Loss: Net loss was $93.0 million for the fourth quarter of 2023, compared to a net loss of $57.5 million for the fourth quarter of 2022.

Wave Life Sciences Announces Upcoming Presentations at MDA Conference that Highlight Best-in-Class Potential for WVE-N531 in Duchenne Muscular Dystrophy

Retrieved on: 
Tuesday, February 27, 2024

CAMBRIDGE, Mass., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (Nasdaq: WVE), a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health, today announced its upcoming presentations at the 2024 Muscular Dystrophy Association (MDA) Clinical & Scientific Conference, taking place March 3-6 in Orlando, FL.

Key Points: 
  • Wave’s poster presentations will highlight the best-in-class potential of WVE-N531 in Duchenne muscular dystrophy (DMD), which is currently being evaluated in the Phase 2, potentially registrational FORWARD-53 study.
  • The presentations will also illustrate the impact of Wave’s novel PN chemistry on pharmacology of its exon skipping oligonucleotides.
  • These data suggest that WVE-N531 muscle concentrations in the clinic may be higher in heart and diaphragm than in skeletal muscle.
  • “At Wave, we increasingly continue to regard exon skipping as the preferred mechanism for altering DMD disease progression in those amenable to this approach.

Capricor Therapeutics Announces Upcoming Type-B Meeting with the FDA to Discuss Commercial Manufacturing Planning with an Aim to Expedite BLA Pathway for CAP-1002 in Duchenne Muscular Dystrophy

Retrieved on: 
Tuesday, February 27, 2024

SAN DIEGO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- – Capricor Therapeutics (NASDAQ: CAPR), a biotechnology company developing transformative cell and exosome-based therapeutics for the treatment and prevention of rare diseases, announced today that the Company has been granted an in-person Type-B meeting with the U.S. Food & Drug Administration (FDA) scheduled for late March.

Key Points: 
  • SAN DIEGO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- – Capricor Therapeutics (NASDAQ: CAPR), a biotechnology company developing transformative cell and exosome-based therapeutics for the treatment and prevention of rare diseases, announced today that the Company has been granted an in-person Type-B meeting with the U.S. Food & Drug Administration (FDA) scheduled for late March.
  • In the upcoming meeting with the FDA, the Company intends to discuss its proposed chemistry, manufacturing and controls (CMC) plans for commercial launch, if approved which may enable opportunities to expedite the pathway to a Biologics License Application (BLA) submission.
  • The Company has previously been granted Regenerative Medicine Advanced Therapy (RMAT) and orphan drug designations for the use of CAP-1002 in Duchenne muscular dystrophy (DMD) and these designations enable sponsors to work closely with the FDA and receive its guidance on potential expedited pathways for approval.
  • “At Capricor, we remain focused on getting to approval as quickly as possible and we look forward to providing more details after this meeting.”

Aduro Clean Technologies Announces Upcoming Conference Schedule and Engagement of Outside The Box Capital to Provide Marketing and Investor Relations Services

Retrieved on: 
Thursday, February 22, 2024

Additionally, the Company has entered into a new marketing and consulting agreement with Outside the Box Capital Inc .

Key Points: 
  • Additionally, the Company has entered into a new marketing and consulting agreement with Outside the Box Capital Inc .
  • to provide marketing and investor relations services.
  • The fourth edition of Chemical Recycling North America is a must-attend for professionals in the recycling and chemical industries.
  • The Company announces that it has entered into a marketing and consulting agreement (the “OTBC Agreement”) with an arm’s length marketing firm, Outside The Box Capital Inc. (“OTBC”) of Oakville Ontario, to provide marketing consulting and investor relations services, including marketing services through social media channels and online media distribution.

Beam Global Granted European Patent for Thermal Management Technology that Makes Lithium-ion Batteries Safer

Retrieved on: 
Thursday, February 22, 2024

The European Patent Office granted European Patent No.

Key Points: 
  • The European Patent Office granted European Patent No.
  • We now have various patents covering our battery technology and innovations in the US, China, the European Union, France, Germany and India,” said Desmond Wheatley, Beam Global’s CEO.
  • Beam Global’s patented battery solutions are designed to make this dominant technology safer.
  • Early 2024 data shows global EV sales up 69% in January 2024 compared to January 2023.

With Capital Raise, Vizgen Commits to Its Long-term Success and Defense Against Baseless Anti-Competitive Legal Actions

Retrieved on: 
Friday, March 8, 2024

These measures come in response to unlawful monopolistic conduct by 10x Genomics and Harvard University, Vizgen’s own licensor—including baseless patent litigation in the U.S. and Europe.

Key Points: 
  • These measures come in response to unlawful monopolistic conduct by 10x Genomics and Harvard University, Vizgen’s own licensor—including baseless patent litigation in the U.S. and Europe.
  • Despite being the target of anticompetitive legal claims, Vizgen remains fully committed to its mission of providing the industry’s best tools for single-cell spatial biology and driving discoveries aimed at improving human health.
  • With the new funding, Vizgen continues to invest in the development of its groundbreaking technologies, ensuring a long-term commitment to support its customers.
  • Responsible enforcement of IP is important to our industry but not to the point of weaponizing patent litigation through baseless claims.

Asha Therapeutics to Present at AD/PD™ 2024 International Conference and Announces Clinical Development Plan for Lead Programs Anticipated to Enter Clinical Trials this Year and Welcomes Two New SAB Members

Retrieved on: 
Friday, March 8, 2024

Dr. Heckmann’s presentation is titled ASHA-091: Novel Pharmacological Targeting of Mitochondrial Dysfunction to Ameliorate Parkinson’s & Alzheimer’s Disease Pathology.

Key Points: 
  • Dr. Heckmann’s presentation is titled ASHA-091: Novel Pharmacological Targeting of Mitochondrial Dysfunction to Ameliorate Parkinson’s & Alzheimer’s Disease Pathology.
  • ASHA-091 restores normal mitochondrial function and has demonstrated disease modifying efficacy as a functional cure in preclinical disease models.
  • In preparation for clinical transition, Asha has appointed Dr. Michael Gold and Dr. Allan Levey to their Scientific Advisory Board.
  • Their expertise comes at a pivotal moment for Asha as we transition our first-in-class lead programs designed using our PRISM™ technology to clinical trials.

Savara Reports Fourth Quarter/Year-End 2023 Financial Results and Provides Business Update

Retrieved on: 
Thursday, March 7, 2024

Savara Inc. (Nasdaq: SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases, reported financial results for the fourth quarter and full year ending December 31, 2023 and provided a business update.

Key Points: 
  • Savara Inc. (Nasdaq: SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases, reported financial results for the fourth quarter and full year ending December 31, 2023 and provided a business update.
  • Research and development expenses for the fourth quarter of 2023 and 2022 were $12.7 million and $7.6 million, respectively.
  • General and administrative expenses for the fourth quarter of 2023 and 2022 were $4.9 million and $3.2 million, respectively.
  • As of December 31, 2023, the Company had cash, cash equivalents and short-term investments of $162.3 million.