Jounce Therapeutics Reports Fourth Quarter and Full Year 2018 Financial Results
- New data from two programs to be presented at AACR -
- New Phase 2 studies to be initiated in 2019 supported by established safety from dose escalation cohorts of vopratelimab (JTX-2011), with ipilimumab and with pembrolizumab -
- Ended 2018 with $195.9 million in cash, cash equivalents and investments -
- Company to host conference call and webcast today at 8:00 AM ET -
CAMBRIDGE, Mass., March 6, 2019 - Jounce Therapeutics, Inc. (NASDAQ: JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers for patient enrichment, today reported financial results and provided a corporate update for the fourth quarter and year ended December 31, 2018.
“2018 was an important year of learnings and significant progress for Jounce. We accomplished several milestones, most notably data readouts and analyses from the Phase 1/2 ICONIC trial for vopratelimab, formerly called JTX-2011, at ASCO and SITC, which provided important insights into vopratelimab’s mechanism of action and a strong scientific rationale for the next stage of clinical development. We also continued to advance our pipeline of immunotherapies including JTX-4014, our PD-1 inhibitor, which began a Phase 1 clinical trial and completed enrollment in the first cohort in late 2018,” said Richard Murray, Ph.D., chief executive officer and president of Jounce Therapeutics.
“In 2019, we plan to advance our first-in-class highly selective antibody JTX-8064, which targets the LILRB2 receptor on macrophages, by filing an IND and initiating a Phase 1 trial, supporting our goal of three immunotherapies in the clinic this year, while we continue to progress novel discovery programs toward development. We remain committed to advancing our pipeline through our unique translational approach and are convinced, more than ever, that the potential for durable survival benefit in the next generation of immunotherapies will require investment in understanding translational mechanistic science and biomarkers from the clinic,” Dr. Murray continued.
Combination safety data supports new Phase 2 studies: Dose escalation combination cohorts with ipilimumab and with pembrolizumab began enrollment in June 2018. Safety was acceptable with ipilimumab and with pembrolizumab, and these data support the next stage of clinical development.
Key data readouts presented at ASCO and SITC 2018: Jounce presented Phase 1/2 ICONIC data at the American Society for Clinical Oncology (ASCO) Annual Meeting in June 2018 and the Society for Immunotherapy of Cancer’s (SITC) Annual Meeting in November 2018.
Tumor reductions were associated with an ICOS pharmacodynamic biomarker, specifically, emergence in the peripheral blood of a population of ICOS hi CD4 T cells, which have the characteristics of activated CD4 T effector cells. In a separate study, these cells were not identified in patients treated with PD-1 inhibitor monotherapy, including responders. This pharmacodynamic
The following information was filed by Jounce Therapeutics, Inc. (JNCE) on Wednesday, March 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.