- Initiated Phase 3 trials with luspatercept in
MDS and beta-thalassemia with partner Celgene -
- Received Fast Track Designation for
luspatercept in MDS and beta-thalassemia, and for dalantercept in
RCC -
- Presented initial Phase 1 results for
ACE-083, a locally acting therapeutic candidate for muscle diseases
-
- Introduced ACE-2494, Acceleron's first
IntelliTrap™ molecule, a therapeutic candidate for systemic muscle
diseases -
- Raised $150 million in gross proceeds to
advance wholly owned programs, including locally acting and
systemic agents for muscle diseases -
Acceleron Pharma Inc. (NASDAQ:XLRN), a clinical stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutic candidates that regulate
cellular growth and repair, today provided a corporate update and
reported financial results for the fourth quarter and year ended
December 31, 2015.
“We made significant progress over the past year in advancing
our pipeline, as marked by successful clinical results across our
programs and the recent launch of Phase 3 programs in MDS and
beta-thalassemia with our partner Celgene,” said John Knopf, Ph.D.,
Chief Executive Officer of Acceleron. “At the start of 2016, we
raised $150 million in gross proceeds from an equity financing
which will be used to fund our wholly owned programs, including our
compounds for muscle diseases. Our locally acting muscle agent,
ACE-083, showed unprecedented results in increasing muscle volume,
and we plan to present new Phase 1 data later this year and
initiate a Phase 2 trial in FSHD, a form of muscular
dystrophy.”
Added Dr. Knopf, “In late 2015, we introduced ACE-2494, a
systemic muscle therapeutic created from our new IntelliTrap™
discovery platform. IntelliTrap™ is a powerful discovery engine,
and we expect it to enable us to introduce a novel therapeutic into
the clinic every 12 to 18 months.”
2015 HIGHLIGHTS AND CURRENT UPDATES
DEVELOPMENT PROGRAMS
Hematology
Luspatercept in myelodysplastic
syndromes (MDS)
Luspatercept is a protein therapeutic that increases hemoglobin
levels and is being developed to help patients reduce or eliminate
their need for red blood cell (RBC) transfusions
- Initiated Phase 3 MEDALIST study in
MDS with partner Celgene. MEDALIST is a 210-patient, global,
double-blind, randomized, placebo-controlled, multicenter study to
determine the efficacy and safety of luspatercept versus placebo in
subjects with anemia due to very low, low, or intermediate-risk MDS
with ring sideroblasts (≥ 15%) who require red blood cell
transfusions.
- Presented data at ASH 2015 annual
meeting from ongoing Phase 2 extension study showing that 50% of
MDS patients achieved transfusion independence and 69% of
patients achieved sustained increases in hemoglobin levels.
- Expanded the Phase 2 MDS study
with additional cohorts in lower risk MDS patients that
are either erythropoietin-stimulating agent (ESA) treatment naïve
or ring sideroblast negative.
- Received FDA Fast Track
Designation.
Luspatercept in
beta-thalassemia
- Initiated Phase 3 BELIEVE study in
beta-thalassemia with partner Celgene. BELIEVE is a
300-patient, global, double-blind, randomized, placebo-controlled,
multicenter study to determine the efficacy and safety of
luspatercept versus placebo in adults who require regular red blood
cell transfusions due to beta-thalassemia.
- Presented data at ASH 2015 annual
meeting from ongoing Phase 2 studies showing luspatercept reduced
transfusion burden, improved health-related quality of life
measures, had beneficial effects on liver iron concentration and
demonstrated a favorable safety profile.
- Received FDA Fast Track
Designation.
Muscle Diseases
ACE-083
Protein therapeutic designed to increase muscle mass and
strength in the muscles in which it is administered
- First-in-human Phase 1 study results
showed an unprecedented 14.5% mean increase in muscle
volume in the injected rectus femoris muscle of the quadriceps.
The data were presented in the Late Breaking Clinical Trials
Session of the 8th International Conference on Cachexia,
Sarcopenia, and Muscle Wasting in December 2015.
- Preclinical data in mice showed that
ACE-083 produced significant increases in muscle mass in the
injected muscle with no observed effect on either the
uninjected contralateral muscle or on whole body mass. Increases in
muscle mass were associated with a significant increase in muscle
force and power. The data were presented at the 20th International
Annual Congress of the World Muscle Society in October 2015.
ACE-2494
Systemic muscle therapeutic designed to increase muscle mass and
strength in a range of muscle diseases
- Introduced ACE-2494, Acceleron's
first IntelliTrap™ molecule. Preclinical data in mice
presented at the 2015 World Muscle Society Congress showed that
after 4 weeks of treatment, ACE-2494 generated substantial
dose-dependent mean increases in muscle mass: 41% in rectus
femoris, 53% in gastrocnemius, and 87% in pectoralis.
Oncology
Dalantercept in renal cell carcinoma
(RCC)
Protein therapeutic that inhibits angiogenesis and is being
developed in combination with approved VEGF-based anti-angiogenesis
compounds to improve patient outcomes.
- Enrollment is ongoing in Part 2 of
the Phase 2 DART study, a randomized, double-blind study of
dalantercept plus axitinib compared to placebo plus axitinib in
patients with advanced renal cell carcinoma.
- Results from Part 1 of the DART
study with dalantercept plus axitinib demonstrated a median
progression free survival of 8.3 months across all dose levels
tested versus the historic control of 4.8 months for axitinib
alone. The data were presented at the 2015 American Society of
Clinical Oncology (ASCO) Annual Meeting and ASCO 2015 Genitourinary
Cancers Symposium.
- Received FDA Fast Track Designation
for dalantercept in combination with axitinib for the treatment
of patients with advanced RCC following treatment with one
anti-angiogenic agent.
Nephrology
Sotatercept in chronic kidney
disease
Protein therapeutic that has effects on fibrosis, vascular
calcification, bone mineral density and red blood cell (RBC)
levels
- Presented preliminary data from
ongoing Phase 2a clinical studies of sotatercept in End-Stage
Kidney Disease patients, including effects on
hemoglobin, vascular calcification, bone mineral density and safety
and tolerability at the American Society of Nephrology Kidney Week
in October 2015.
- Acceleron and Celgene assessing the
opportunity for the development of sotatercept in the
pre-dialysis chronic kidney disease (CKD) setting.
RESEARCH AND DEVELOPMENT
- Introduced the Company’s
IntelliTrap™ platform for discovery of selective and novel
compounds targeting the transforming growth factor-beta superfamily
of proteins.
- Identified ACE-2494 as the first
compound to be developed from the platform and is expected to
be Acceleron’s fifth internally discovered therapeutic to enter the
clinic.
- Acceleron plans to have a new
internally discovered compound enter the clinic every 12 to 18
months.
CORPORATE UPDATES
- Raised $150 million in gross
proceeds in an underwritten public offering of common stock in
January 2016.
- Hosted first Research &
Development Day in October 2015. Company executives and a panel
of outside experts briefed the investment community on Acceleron’s
clinical programs in MDS, beta-thalassemia, cancer and muscular
dystrophies.
UPCOMING 2016 PROGRAM MILESTONES AND
EVENTS
We anticipate the following milestones and events in 2016:
Hematology
Luspatercept in MDS
- Will update long-term treatment results
at major medical conferences.
- Initial data on ring sideroblast
negative and ESA treatment naïve (front-line) patients (YE
2016).
Luspatercept in
beta-thalassemia
- Update long-term treatment results at
major medical conferences.
Muscle Diseases
ACE-083
- Present Phase 1 data from two new
cohorts (Mid 2016).
- Initiate Phase 2 trial in
facioscapulohumeral muscular dystrophy (FSHD) patients (H2
2016).
ACE-2494
- Submit IND for first-in-human study for
ACE-2494 (YE 2016).
Oncology
Dalantercept in RCC
- Present preliminary Part 2 DART study
results (dalantercept in combination with axitinib) (YE 2016).
Nephrology
Sotatercept in CKD
- Provide an update on development
strategy (H2 2016).
Financial Results
- Cash Position – Cash, cash
equivalents and investments were $136.0 million as of December 31,
2015. Net cash used in operating activities in 2015 was $44.2
million. We believe that our existing cash, cash equivalents and
investments, including the net proceeds of $140.4 million from our
January 2016 offering, will be sufficient to fund our projected
operating requirements into the second half of 2019.
- Revenue – Collaboration revenue
for the year was $18.1 million. This includes license and milestone
amortization of $1.2 million and cost sharing reimbursement revenue
from our Celgene partnership of $16.9 million related to expenses
incurred by the Company in support of our partnered programs.
- Costs and expenses – Total costs
and expenses for the year were $79.0 million. This includes R&D
expenses of $58.4 million and G&A expenses of $20.6
million.
- Net Loss – The Company’s net
loss for the year ended December 31, 2015 was $63.9 million.
Conference Call, Webcast and Prepared Statement
Information
The Company will host a conference call and live audio webcast
to report its fourth quarter and full year financial results for
2015 and provide a corporate update on Thursday, February 25, 2016,
at 8:00 AM EST. To participate by teleconference, please dial
877-312-5848 (domestic) or 253-237-1155 (international) and refer
to the "Acceleron Q4 Earnings Call." To access the live webcast and
read the Company's prepared statement for this earnings call,
please select "Events & Presentations" in the "Investors &
Media" section on the Company's website (www.acceleronpharma.com). To ensure a timely
connection, it is recommended that users register at least 15
minutes prior to the scheduled webcast.
A replay of the webcast will be archived on the Company’s
website and accessible approximately two hours after the event.
About Acceleron
Acceleron is a clinical stage biopharmaceutical company focused
on the discovery, development and commercialization of novel
therapeutic candidates that regulate cellular growth and repair.
The company is a leader in understanding the biology of the
Transforming Growth Factor-Beta protein superfamily, a large and
diverse group of molecules that are key regulators in the growth
and repair of tissues throughout the human body, and in targeting
these pathways to develop important new medicines. Acceleron has
built a highly productive R&D platform that has generated
innovative clinical and preclinical therapeutic candidates with
novel mechanisms of action. These therapeutic candidates have the
potential to significantly improve clinical outcomes for patients
with cancer and rare diseases.
For more information, please visit www.acceleronpharma.com.
ACCELERON PHARMA INC.
CONDENSED CONSOLIDATED BALANCE
SHEET
(Amounts in thousands)
(unaudited)
December31, 2015
December31, 2014
Cash and cash equivalents $ 27,783 $ 176,460 Short and long-term
investments 108,198 — Other assets 10,356
9,836 Total assets $ 146,337 $ 186,296
Deferred revenue $ 4,794 $ 5,978 Warrants to purchase common stock
17,187 14,124 Other liabilities 15,093 9,909
Total liabilities 37,074 30,011 Total stockholders’ equity 109,263
156,285 Total liabilities and stockholders’
equity $ 146,337 $ 186,296
ACCELERON PHARMA INC.
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
(Amounts in thousands except per share
data)
(unaudited)
Three Months EndedDecember
31,
Year EndedDecember 31,
2015 2014 2015
2014 Revenue: Collaboration revenue $
3,804 $ 3,739 $ 18,097 $ 14,632 Costs and expenses: Research and
development 16,146 14,579 58,404 50,897 Litigation settlement — — —
5,000 General and administrative 5,773 3,714
20,572 14,199 Total costs and
expenses 21,919 18,293 78,976 70,096 Loss from operations (18,115 )
(14,554 ) (60,879 ) (55,464 ) Other (expense) income, net (8,967 )
(3,063 ) (3,015 ) 4,205 Net loss
$ (27,082 ) $ (17,617 ) $ (63,894 ) $
(51,259 )
Net unrealized holding (losses) on
short-term and long-term investmentsduring the period
(199 ) — (220 ) —
Comprehensive loss $ (27,281 ) $ (17,617 ) $
(64,114 ) $ (51,259 )
Net loss per share applicable to common
stockholders-basic and diluted
$ (0.81 ) $ (0.55 ) $ (1.92 ) $ (1.63 )
Weighted-average number of common shares
used in computing net lossper share applicable to common
stockholders-basic and diluted
33,268 32,293 33,303 31,515
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements about the
Company's strategy, future plans and prospects, including
statements regarding the development of the Company's compounds,
including sotatercept, luspatercept, dalantercept, ACE-083,
ACE-2494, the Company's IntelliTrap™ drug discovery platform, and
the Company's TGF-beta superfamily program generally, the timeline
for clinical development and regulatory approval of the Company's
compounds, the expected timing for the reporting of data from
ongoing trials, and the structure of the Company's planned or
pending clinical trials. The words "anticipate," "appear,"
"believe," "continue," "could," "estimate," "expect," "forecast,"
"goal," "intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would," and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Each forward-looking statement is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such statement. Applicable risks
and uncertainties include the risks that the Company’s cash, cash
equivalents and investments will be insufficient to fund operations
into the second half of 2019, that preclinical testing of the
Company's compounds and data from clinical trials may not be
predictive of the results or success of ongoing or later clinical
trials, that data may not be available when the Company expects it
to be, that the Company or its collaboration partner, Celgene, will
be unable to successfully complete the clinical development of the
Company's compounds, that the development of the Company's
compounds will take longer or cost more than planned, that the
Company or Celgene may be delayed in initiating or completing any
clinical trials, that the Company's drug discovery activities may
not yield drug candidates for which the Company can commence
clinical trials at the rate at which the Company currently
anticipates or at all, and that the Company's compounds will not
receive regulatory approval or become commercially successful
products.
Other risks and uncertainties include those identified under the
heading “Risk Factors” included in the Company’s Annual Report on
Form 10-K which was filed with the Securities and Exchange
Commission (SEC) on February 25, 2016, and other filings that the
Company has made and may make with the SEC in the future. The
forward-looking statements contained in this press release reflect
the Company’s current views with respect to future events, and the
Company does not undertake and specifically disclaims any
obligation to update any forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160225005417/en/
Acceleron Pharma Inc.Todd James, 617-649-9393Senior Director,
Investor Relations and Corporate CommunicationsorMedia:BMC
CommunicationsBrad Miles, 646-513-3125
Acceleron Pharma (NASDAQ:XLRN)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Acceleron Pharma (NASDAQ:XLRN)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024