The Swiss biotech develops antibody-drug conjugates (ADCs) to treat cancer that use pyrrobenzodiazepines (PBDs), a class of natural products produced by actinomycetes bacteria, as the cytotoxic agent. The company says PBD toxins are 100 times more potent than the cytotoxic agents (called warheads) used in ADCs currently on the market.
Lead candidates are ADCT-402 (loncastuximab tesirine), in Phase 2 development for relapsed/refractory diffuse large B-cell lymphoma (preliminary 41.7% response rate) and non-Hodgkin lymphoma (41.4% response rate in a Phase 1 study), and ADCT-301 (camidanlumab tesirine), in Phase 2 development for relapsed/refractory Hodgkin lymphoma (86.5% response rate in Phase 1).
If current studies are successful, the company expects to file a U.S. marketing application for ADCT-402 in H2 2020 followed by ADCT-301 in H1 2022.
2019 Financials (6 mo.): Contract Revenue: $2.3M (+274%); Net loss: ($49.9M) (+19%); Cash Consumption: ($55.7M) (+9%).
Related ticker: Seattle Genetics (NASDAQ:SGEN)
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