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– IND for First Solid Tumor Program, ACTR T cells in Combination with Trastuzumab in Patients with HER2+ Advanced Cancers Now Active; Expect to Initiate Phase I Trial by End of 2018 –
CAMBRIDGE, Mass., Aug. 13, 2018 (GLOBE NEWSWIRE) -- Unum Therapeutics Inc. (NASDAQ: UMRX), a clinical-stage biopharmaceutical company focused on the development of cellular immunotherapies based on its novel, universal Antibody-Coupled T cell Receptor (ACTR) technology platform, today reported financial results and provided a corporate update for the second quarter ended June 30, 2018 and recent activities.
“In our first full quarter as a public company, we made significant progress in developing our proprietary, universal ACTR technology platform and advancing our pipeline of cellular immunotherapies through clinical development,” said Chuck Wilson, CEO of Unum. “We continue to evaluate ACTR T cell potential in combination with different tumor-targeting antibodies in three ongoing multicenter Phase I trials. We expect to report preliminary data from these trials late this year. In addition, we are particularly pleased to announce that our investigational new drug (IND) application for ACTR T cells in combination with trastuzumab for the treatment of patients with HER2+ advanced cancers is now active and we are preparing to initiate a multi-center Phase I trial, ATTCK-34-01, by the end of 2018. This represents our first solid tumor product candidate based on our universal ACTR technology.”
Second Quarter 2018 Financial Results
About Unum Therapeutics
Unum Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel immunotherapy products designed to harness the power of a patient’s immune system to cure cancer. Unum’s novel proprietary technology, antibody-coupled T cell receptor (ACTR), is a universal, engineered cell therapy intended to be used in combination with a wide range of tumor-specific antibodies to target different tumor types. ACTR087 used in combination with rituximab, an anti-CD20 antibody, is Unum’s most advanced product candidate, currently in Phase I clinical testing in adult patients with relapsed or refractory non-Hodgkin lymphoma (r/r NHL). The Company has two additional product candidates in Phase I clinical testing: ACTR087 used in combination with the novel antibody SEA-BCMA in adult patients with relapsed or refractory multiple myeloma and ACTR707, a modified ACTR construct, used in combination with rituximab in adult patients with r/r NHL. Finally, the Company has an active investigational new drug application (IND) for ACTR707 used in combination with trastuzumab, an anti- human epidermal growth factor receptor 2 (HER2) antibody, to treat patients with HER2+ cancers and expects to initiate the Phase 1 trial by the end of 2018.
The Company is headquartered in Cambridge, MA.
Forward looking Statements
This press release contains forward-looking statements. Statements in this press release about our future expectations, plans and prospects, including projections regarding future revenues and financial performance, our long-term growth, the anticipated timing of our clinical trials and regulatory filings, the development of our product candidates, including the four lead ACTR product candidates, as well as other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to the accuracy of our estimates regarding expenses, future revenues, capital requirements, and the need for additional financing, the success, cost and timing of our product development activities and clinical trials, our ability to obtain and maintain regulatory approval for our product candidates, and the other risks and uncertainties described in the "Risk Factors" sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
Stern Investor Relations, Inc.
Mary T. Conway, 212-362-1200
Paul Kidwell, 617-680-1088
UNUM THERAPEUTICS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
( in thousands, except share and per share data)
|Three Months Ended June 30,||Six Months Ended June 30,|
|Research and development||9,126||7,141||17,268||14,093|
|General and administrative||1,979||971||3,043||1,915|
|Total operating expenses||11,105||8,112||20,311||16,008|
|Loss from operations||(9,439||)||(6,033||)||(16,425||)||(12,102||)|
|Other income (expense):|
|Other income, net||157||73||327||113|
|Total other income, net||416||170||667||300|
|Accretion of redeemable convertible preferred stock to redemption value||—||(17||)||(16||)||(33||)|
|Net loss attributable to common stockholders||$||(9,023||)||$||(5,880||)||$||(15,774||)||$||(11,835||)|
|Net loss per share attributable to common stockholders, basic and diluted||$||(0.31||)||$||(0.58||)||$||(0.80||)||$||(1.16||)|
|Weighted average common shares outstanding, basic and diluted||29,155,790||10,190,228||19,732,542||10,190,228|
UNUM THERAPEUTICS INC.
CONSOLIDATED BALANCE SHEET DATA
( in thousands)
|June 30, 2018||December 31, 2017|
|Cash, cash equivalents and marketable securities||$||94,447||$||40,961|
|Redeemable convertible preferred stock||—||77,151|
|Total stockholders' equity (deficit)||76,675||(48,846||)|