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Vaccinex Reports Fourth Quarter 2020 Financial Results and Provides Corporate Update
Reported top-line results from Phase 2 SIGNAL study that indicates potential cognitive benefit of pepinemab in neurodegenerative disease. New Alzheimers study expected to begin enrollment in Q2
Phase 1/2 study to evaluate pepinemab in combination with KEYTRUDA® in advanced, recurrent or metastatic head and neck squamous cell carcinoma also expected to initiate enrollment in Q2
In first quarter 2021, raised $32 million in net proceeds through its pre-existing open sale market agreement
ROCHESTER, N.Y., March 16, 2021 Vaccinex, Inc. (Nasdaq: VCNX), a clinical-stage biotechnology company pioneering a differentiated approach to treating cancer and neurodegenerative disease through the inhibition of SEMA4D, today announced financial results for the fourth quarter and full year ended December 31, 2020 and provided a corporate update.
We had a productive fourth quarter, during which we presented topline data from our SIGNAL phase 2 study in Huntingtons disease which indicated that treatment with pepinemab has a potential cognitive benefit in patients with Huntingtons disease, stated Maurice Zauderer, Ph.D., president and chief executive officer. Looking forward, during the second quarter of 2021 we anticipate initiating studies of pepinemab in head and neck cancer in combination with Mercks KEYTRUDA® as well as a new trial in Alzheimers disease, with financial assistance from the Alzheimers Association and the Alzheimers Drug Discovery Foundation. Importantly, having raised $32 million in the first quarter of 2021 through our open sale market agreement with Jefferies, we believe we are well positioned to fund these trials, which are anticipated for completion in H2 2022/Q1 2023. Based on existing clinical data, we are hopeful that the results will demonstrate the broad clinical potential of SEMA4D inhibition and support further development of pepinemab in these important indications.
With regards to our Huntingtons disease program, after completing analysis of the full data set, we believe there is a promising path forward in mid-stage disease, and we are currently engaged in potential partnering discussions to fund and execute a rigorously designed Phase 3 study, Dr. Zauderer concluded.
Pepinemab Clinical Updates:
Alzheimers disease. Vaccinex previously announced that it had been awarded a $750,000 development grant from the Alzheimers Association under the 2020 Part the Cloud Program, as well as a $3 million award from the Alzheimers Drug Discovery Foundation. The awards were based in part on earlier findings that treatment with pepinemab prevented the characteristic loss of glucose transport in the brain during underlying Huntingtons disease progression as detected by conventional FDG-PET imaging. Uptake of glucose, the main source of energy in the brain, is also known to decline with underlying disease progression in Alzheimers disease. In particular, previous studies in AD have shown that decline in brain glucose transport correlates with cognitive decline and, more recently, that FDG-PET is a superior indicator of cognitive performance compared to Ab amyloid-PET in AD.
The following information was filed by Vaccinex, Inc. (VCNX) on Tuesday, March 16, 2021 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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