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Tuesday, February 15, 2022

ClearPoint Neuro Reports 2021 Prelims and Guidance for Full Year 2022 Revenue

 ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced preliminary, unaudited financial results for its fourth quarter and full year ended December 31, 2021. The Company also announced that its earnings call will take place on Tuesday, March 1, 2022, after the market close.

Fourth Quarter 2021 Revenue Highlights

  • Reported revenue of $4.3 million, a 15% year-over-year increase;

  • Increased functional neurosurgery products and services to $2.1 million, a 37% year-over-year increase;

  • Increased biologics and drug delivery revenue to $1.7 million, a 10% year-over-year increase;

  • Clinical team supported 239 cases despite a regional impact of the Omicron variant on elective procedures, a 37% year-over-year increase.

Full Year 2021 Revenue Highlights

  • Achieved record revenue of $16.3 million, a 27% year-over-year increase and within the initial 2021 forecast of $16.0 - $17.5 million despite the impact of both Delta and Omicron variants throughout the year on elective procedures and supply chain;

  • Achieved record case volume of 929 cases, a 36% year-over-year increase and within initial 2021 forecast of 900 – 1,000 cases supported by our clinical specialist team;

  • The Company had approximately $54.1 million in cash and cash equivalents at December 31, 2021.

Business Outlook

  • The Company estimates revenue in 2022 to be between $20.0 and $22.0 million, representing growth between 23% and 35%;

  • The single largest risk factor for 2022 revenue is expected to remain the impact of COVID, including the resumption of elective procedures post-Omicron and the risk of new emerging variants as seen in 2021.

Bristol Myers Squibb Prices $6 Billion of Senior Unsecured Notes

 Bristol-Myers Squibb Company (NYSE:BMY) today announced that it has priced a public offering (the “Offering”) of senior unsecured notes in a combined aggregate principal amount of $6 billion (collectively, the “Notes”). The Notes will be issued in four tranches: (i) $1,750,000,000 in aggregate principal amount of 2.950% notes due 2032, (ii) $1,250,000,000 in aggregate principal amount of 3.550% notes due 2042, (iii) $2,000,000,000 in aggregate principal amount of 3.700% notes due 2052, and (iv) $1,000,000,000 in aggregate principal amount of 3.900% notes due 2062. Bristol Myers Squibb expects that the closing of the Offering will occur on March 2, 2022, subject to the satisfaction of customary closing conditions.

Concurrently with this offering, we commenced a tender offer (the “Tender Offer”) to purchase, for cash, various series of our outstanding notes (the “Tender Offer Notes”). We intend to use the net proceeds of this offering (i) to fund the Tender Offer, (ii) to pay fees and expenses in connection therewith and this Offering, (iii) to fund the repayment of outstanding debt upon maturity or earlier redemption and (iv) to the extent of any remaining proceeds, for general corporate purposes. This offering is not contingent on the consummation of the Tender Offer or the purchase of any of the Tender Offer Notes in connection therewith.

https://www.joplinglobe.com/region/national_business/bristol-myers-squibb-prices-6-billion-of-senior-unsecured-notes/article_efb41734-da70-5bd8-9158-b2063531e7b4.html

WHO Europe warns of COVID rise in east, like Russia, Ukraine

 The head of the World Health Organization’s Europe office said Tuesday that health officials are turning their attention to growing rates of COVID-19 infection in Eastern Europe, where six countries — including Russia and Ukraine — have seen a doubling in case counts over the last two weeks.

Dr. Hans Kluge said the 53-country region, which stretches to former Soviet republics into central Asia, has now tallied more than 165 million confirmed coronavirus cases and 1.8 million deaths linked to the pandemic — including 25,000 in the last week alone.

“Today, our focus is towards the east of the WHO European region,” Kluge said in Russian at a media briefing, pointing to a surge in the highly transmissible omicron variant. “Over the past two weeks, cases of COVID-19 have more than doubled in six countries in this part of the region (Armenia, Azerbaijan, Belarus, Georgia, the Russian Federation, and Ukraine).”

“As anticipated, the omicron wave is moving east: 10 eastern Member States have now detected this variant,” he said.

Omicron, however, is milder than previous variants and health care systems in most countries around the world aren’t under strain.

Kluge sought to put an emphasis on improving vaccination rates, which have lagged in Eastern Europe compared to the rest of the region. He said less than 40% of people over age 60 in Bosnia, Bulgaria, Kyrgyzstan, Ukraine and Uzbekistan have completed a full COVID-19 vaccine series.

He called on governments and health officials “to closely examine the local reasons influencing lower vaccine demand and acceptance, and devise tailored interventions to increase vaccination rates urgently, based on the context-specific evidence.” He also said it was “not the moment to lift measures that we know work in reducing the spread of COVID-19.”

The WHO Europe chief also highlighted his “message of hope” — pointing to high levels of immunity through vaccination or recovery from infection, and the looming end of the winter season that causes many people to gather indoors, where the virus can spread more easily.

https://apnews.com/article/russia-ukraine-coronavirus-pandemic-health-business-pandemics-454b6b5519ffaa2441ffe2de9bb2a201

Calliditas starts Phase 2b/3 study for liver condition

 Calliditas Therapeutics AB (Nasdaq: CALT, Nasdaq Stockholm: CALTX) ("Calliditas") today announced that the first patient has been randomized in the company's pivotal phase 2b/3 TRANSFORM study in patients with primary biliary cholangitis (PBC).

The TRANSFORM trial is a 52-week, randomized, placebo-controlled, double-blind, adaptive Phase 2b/3 trial. It will initially investigate the effect of setanaxib 1200 mg/day and 1600 mg/day versus placebo on alkaline phosphatase (ALP) reduction in patients with PBC and with elevated liver stiffness and intolerance or inadequate response to ursodeoxycholic acid (UDCA). Key secondary endpoints include change from baseline in liver stiffness, assessed by transient elastography (FibroScan®), and change from baseline in fatigue.

An interim analysis will be conducted once the 99th randomized patient has completed the Week 24 visit, which is expected H1 2023. The interim analysis outcome will determine which of the two doses will be selected for the Phase 3 portion of the trial.

"We are very excited to be able to launch our next pivotal trial in an orphan indication, following the recent success of our NefIgArd trial. We are committed to providing innovative solutions to address the unmet medical needs of patients with rare diseases", said CEO Renée Aguiar-Lucander.

This global study will randomize a total of ~318 patients at up to 150 investigational centres, and expects to read out top line data in H2 2024/H1 2025. As previously reported in August 2021, Calliditas received FDA Fast Track Designation for setanaxib in PBC. Further details of the TRANSFORM study can be found at www.clinicaltrials.gov, with the reference NCT05014672.

https://finance.yahoo.com/news/first-patient-randomized-pivotal-transform-094000923.html

Siemens Healthineers Sets 2021 Dividend, Confirms Medium-Term Growth Targets

 Siemens Healthineers AG on Tuesday set a dividend for 2021 and confirmed targets for the years 2023 to 2025, which it had previously set.

The German medical-equipment maker proposed a dividend of 0.85 euros ($0.96) a share for the 2021 fiscal year ended Sept. 30, which represents a distribution of 55% of net income, it said.

The company confirmed it is aiming to achieve a comparable annual growth rate of 6% to 8% in fiscal years 2023 to 2025, and that adjusted basic earnings per share are expected to increase by 12% to 15% a year over the same period.

Siemens Healthineers also said it is going to invest EUR60 million in the coming years to expand its production site in Kemnath, Germany, which will be prepared to manufacture individual components and complete radiotherapy systems for Varian after its acquisition.

https://www.marketscreener.com/quote/stock/SIEMENS-HEALTHINEERS-AG-42379342/news/Siemens-Healthineers-Sets-2021-Dividend-Confirms-Medium-Term-Growth-Targets-39473340/

ASCO GU: J&J plays up precision therapy approach for Zejula's prostate cancer bid after mixed results

 In 2017 and 2020, Zejula snagged broad FDA labels for ovarian cancer patients who responded well to a chemotherapy. But in prostate cancer, the PARP inhibitor appears to work only for a niche population—and that's bad news for the drug in its ongoing fight for market supremacy against AstraZeneca and Merck & Co.’s rival Lynparza.

That’s the message Johnson & Johnson gathered from a late-stage clinical trial in patients with newly diagnosed metastatic, castration-resistant prostate cancer (mCRPC). There, the addition of Zejula to J&J’s Zytiga and prednisone slashed the risk of disease progression or death by 27% in patients with mutations in their homologous recombination repair (HRR) genes, according to phase 3 data unveiled at the American Society of Clinical Oncology Genitourinary Cancers (ASCO GU) symposium.

But in patients without HRR abnormalities, Zejula didn’t show any efficacy benefit but instead added toxicity to the Zytiga-prednisone regimen. That part of the readout came in stark contrast to Lynparza’s win at ASCO GU in all patients in the same disease setting regardless of HRR status.

By grouping patients into different cohorts by HRR status, J&J intentionally designed the phase 3 MAGNITUDE trial to examine which patients really benefit from the new Zejula combination, Mark Wildgust, Ph.D., vice president of global medical affairs at J&J’s Janssen, said during an interview. A so-called prospective analysis like this one is often considered scientifically more rigorous than a post-hoc assessment.

“Our study provides physicians the confidence and the clarity on who to use [Zejula] in,” Wildgust said. In mCRPC, an estimated 20% to 30% of patients have HRR mutations.

PARP inhibitors such as Zejula and Lynparza are known to work best in cancers with HRR alterations, especially BRCA1/2 mutations. For example, Lynparza’s most recent U.S. expansion in previously treated metastatic, castration-resistant prostate cancer is confined to HRR-mutated cases. Meanwhile, homologous recombination deficiency (HRD) is the requirement for Lynparza’s use in ovarian cancer patients who responded to an initial round of chemo in the so-called first-line maintenance setting.

For its part, Zejula had previously won FDA approvals as maintenance treatment for women with newly diagnosed and recurrent ovarian cancer beyond HRR deficiencies under developer Tesaro and its new owner GlaxoSmithKline. J&J in-licensed Zejula’s prostate cancer rights through a 2016 deal with Tesaro.

The tables were turned this time. While Zejula failed in first-line mCRPC patients without HRR, Lynparza, used on top of Zytiga and steroids, cut the risk of disease progression or death in all patients by 34% regardless of HRR status in its own phase3 PROpel trial. A predefined subgroup analysis showed an improvement of 46% for the HRR-mutated group, according to data published at ASCO GU.

Cross-trial comparisons have various problems. Zejula’s 27% number came from a blinded central review, while Lynparza’s 46% result was drawn by investigators. When evaluated by investigators, Zejula’s benefit in HRR-mutated patients widened to 36%.

The two trials also included slightly different patient populations. While Lynparza’s PROpel excluded patients with any prior Zytiga exposure, Zejula’s MAGNITUDE allowed those patients as long as they had received the CYP17 inhibitor within four months before randomization. As Wildgust described it, MAGNITUDE enrolled a population matching the patients seen in clinical practice today.

Wildgust also pointed to imbalances in certain patient baseline characteristics that may have hurt Zejula’s showing. The Zejula patients are less healthy as measured by the ECOG score compared with the control group and had higher number of visceral metastases, both of which are associated with poorer outcomes, he noted.

Still, those detailed differences will be hard to convey to physicians. If approved, Zejula’s failure in the HRR non-mutated population could be a major obstacle for overall uptake as getting the drug may require a test for HRR status. If it were any consolation, in ovarian cancer, Lynparza has been able to maintain its lead in HRD-positive share as Zejula conquers the HRD-negative group. But that’s based on Lynparza’s existing market dominance.

J&J might be able to leverage its existing position in prostate cancer; after all, J&J developed now-off-patent Zytiga, and the company also sells growing androgen receptor inhibitor Erleada.

Besides Lynparza and Zejula, Pfizer is pairing its PARP inhibitor Talzenna with Astellas-partnered androgen receptor antagonist Xtandi in mCRPC in the TALAPRO-2 trial, which bears a primary completion date in March. Talzenna is currently only approved in BRCA-mutated breast cancer.

J&J is also focusing its prostate cancer R&D on a new target called KLK2, Wildgust said. That work includes three different drugs: JNJ-75229414, a KLK2-targertd CAR-T therapy; JNJ-78278343, a KLK2 x CD3 T-cell-redirecting bispecific antibody; and JNJ-69086420, a radiotherapy-antibody drug conjugate.

https://www.fiercepharma.com/pharma/johnson-johnson-plays-up-precision-therapy-for-zejula-s-half-successful-prostate-cancer-bid

AstraZeneca Says Lynparza Combination Delays Progression Risk in Prostate Cancer

 AstraZeneca PLC said Tuesday that a Phase 3 trial of Lynparza plus abiraterone showed that the drug combination reduced risk of disease progression in patients with prostate cancer.

The Anglo-Swedish pharma giant said Lynparza plus abiraterone reduced risk of disease progression by 34% compared with the standard of care.

Prostate cancer is the second most common cancer in male patients, causing around 375,000 deaths in 2020, AstraZeneca said.

Results also showed a favorable trend toward improved overall survival, the company said.

https://www.marketscreener.com/quote/stock/ASTRAZENECA-PLC-4000930/news/AstraZeneca-Says-Lynparza-Combination-Delays-Progression-Risk-in-Prostate-Cancer-39472187/