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Exhibit 99.1
Aeglea BioTherapeutics Reports Fourth Quarter and Full Year 2018 Financial Results and Corporate Highlights
On Track to Dose First Patient in Pivotal Phase 3 Trial of Pegzilarginase for ARG1-D in Q2 of 2019
Initiated IND-Enabling Studies for New Pipeline Programs
Progress with Pegzilarginase Cancer Indication-Phase 2 Combination Study Initiated
Gross Proceeds of $69 Million from February 2019 Public Offering Extends Cash Runway Through Q1 of 2021
Company to Host Conference Call and Webcast Today at 4:30 p.m. ET
Austin, Texas, March 7, 2019 -
Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE), a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today reported its fourth quarter and full year 2018 financial results and provided corporate highlights.
“2018 was a very successful year for the company,” said Anthony G. Quinn, M.B. Ch. B, Ph.D., president and chief executive officer of Aeglea. “We made substantial progress with our clinical programs for pegzilarginase in Arginase 1 Deficiency (ARG1-D) and oncology, leveraged our unique drug hunting capabilities to generate new pipeline programs for cystinuria and homocystinuria and strengthened Aeglea’s balance sheet. As we look to 2019, the Company is well positioned to advance our clinical and research programs, as well as to leverage our human enzyme design capabilities to address other diseases with significant unmet medical need.”
Program Highlights
Pegzilarginase in Arginase 1 Deficiency
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Completed dosing of Phase 1/2 trial in February 2019, with 14 out of 16 enrolled patients completing eight weeks of repeat dosing. Clinical data from this trial, which informed the design of the Phase 3 PEACE (Pegzilarginase Effect on Arginase 1 Deficiency Clinical Endpoints) trial protocol design, included the demonstration that pegzilarginase is effective in reducing plasma arginine levels with accompanying improvements in important disease-related abnormalities. Insights from standardized clinical assessments and feedback from physicians and caregivers also established the value of mobility and adaptive behavior assessments in capturing the clinical benefits of pegzilarginase. Additionally, pegzilarginase appeared safe and well tolerated. Aeglea expects to report Phase 1/2 data at an oral presentation at the Society for Inherited Metabolic Disorders (SIMD) annual meeting being held April 6-9 in Seattle, Washington. |
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In December 2018, the Company announced the design of its single, global pivotal Phase 3 PEACE trial based on input from the U.S. Food and Drug Administration (FDA) and the European Medicine Agency (EMA). Pegzilarginase is believed to be the first-ever investigative therapy for patients with ARG1-D that addresses the high arginine levels that are the key drivers of this devastating disease. PEACE is a global, randomized, double-blind, placebo-controlled trial designed to assess the effects of treatment with pegzilarginase versus placebo over 24 weeks with a primary endpoint of plasma arginine reduction. Secondary endpoints will include mobility and adaptive behavior as assessments of clinically meaningful effects, in addition to safety and pharmacokinetics. Aeglea expects to dose the first patient in the PEACE trial in the second quarter of 2019 and anticipates topline data will be available in the first quarter of 2021. |
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Pediatric review voucher (PRV) eligible given receipt of rare pediatric disease designation from FDA for treatment of ARG1-D. |
Pegzilarginase in Cancer
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Completed the Phase 1b safety evaluation and dose selection for pegzilarginase in combination with KEYTRUDA® (pembrolizumab), Merck’s anti-PD-1 therapy. This trial is designed to assess the safety and efficacy of pegzilarginase with KEYTRUDA in patients with extensive disease small cell lung cancer (SCLC) who have relapsed or progressive disease after platinum-based chemotherapy. |
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Aeglea Biotherapeutics, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The change in operating assets and liabilities of $7.2 million was primarily related to a $4.2 million increase in accrued and other liabilities due to additional research and development costs associated with the clinical trials for pegzilarginase in patients with Arginase 1 Deficiency and cancer, as well as a $3.1 million decrease in grants accounts receivable due to concluding the grant contract and collecting the remaining proceeds.
Additionally, a new shelf registration statement on Form S-3 was declared effective in February 2019 by the SEC for the offering, issuance and sale by us of up to $200.0 million (2019 Registration Statement) of our common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock and debt securities, subscription rights to purchase common stock and units consisting of all or some of these securities.
The amendments in the update require an entity in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense.
The increase in general and administrative expenses was primarily due to an increase in employee compensation, consulting, and facility costs.
These increases will likely include higher costs related to the hiring of additional personnel and fees to outside consultants, lawyers and accountants, among other expenses.
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Ticker: AGLE
CIK: 1636282
Form Type: 10-K Annual Report
Accession Number: 0001564590-19-006771
Submitted to the SEC: Thu Mar 07 2019 4:08:21 PM EST
Accepted by the SEC: Thu Mar 07 2019
Period: Monday, December 31, 2018
Industry: Pharmaceutical Preparations