– Affected person enrollment in Part 1/2 studies of EOS-850 A2AR antagonist and EOS-448 FCγR-enabled anti-TIGIT antibody proceeds with preliminary information anticipated in 1H21 –
– Sturdy money place to help ongoing medical growth and operations into 2023 –
CAMBRIDGE, Mass. and GOSSELIES, Belgium, Nov. 12, 2020 (GLOBE NEWSWIRE) — iTeos Therapeutics, Inc. (Nasdaq: ITOS), a clinical-stage biopharmaceutical firm pioneering the invention and growth of a brand new technology of extremely differentiated immuno-oncology therapeutics for sufferers, as we speak reported monetary outcomes for the third quarter ended September 30, 2020 and offered latest enterprise highlights.
“We’re targeted on advancing our two lead candidates, EOS-850, our adenosine A2A receptor antagonist, and EOS-448, our TIGIT antagonist, each now in Part 1/2a medical growth, towards preliminary information readouts within the first half of 2021,” stated Michel Detheux, PhD, President and Chief Govt Officer of iTeos. “Whereas we’ve got confronted some challenges as a result of unpredictable nature of the evolving COVID-19 pandemic, our information readout timelines stay on monitor and we’re constructing our group and competencies to help our ongoing medical trials. Along with our medical efforts, we additionally proceed to carry out rigorous preclinical evaluations to establish potential novel product candidates that can contribute to the additional development of our pipeline. As we proceed to advance our efforts to find and develop extremely differentiated immune-oncology therapeutics, we now count on to appoint a brand new drug product candidate earlier than the top of 2021.”
EOS-850: Designed as a extremely selective small molecule antagonist of the adenosine A2A receptor, or A2AR, to inhibit the adenosine pathway, a key driver of immunosuppression within the tumor microenvironment throughout a broad vary of tumors.
- Enrollment continues in Part 1/2a medical trial in grownup sufferers with superior strong tumors: The multi-arm Part 1/2a medical trial of EOS-850 trial in grownup sufferers with superior strong tumors is ongoing. Along with the single-agent cohort, dosing has additionally commenced within the second cohort evaluating EOS-850 together with pembrolizumab. The COVID-19 pandemic has resulted within the Firm experiencing enrollment delays for its third cohort evaluating EOS-850 together with chemotherapy. The Firm is now opening further websites within the U.S., France, Spain and South Korea to help continued enrollment and expects to dose the primary affected person within the chemotherapy cohort by the top of 2020. The Firm stays on-track to report preliminary single-agent and mixture information within the first half of 2021.
EOS-448: Antagonistic antibody particularly designed to focus on TIGIT (T-cell immunoreceptor with Ig and ITIM domains), a checkpoint with a number of mechanisms resulting in immunosuppression. EOS-448 was additionally chosen to interact the Fc gamma receptor, or FcγR, to advertise antibody-dependent mobile cytotoxicity, or ADCC, exercise.
- Affected person enrollment continues in Part 1/2a medical trial: The dose escalation portion of the Part 1/2a medical trial of EOS-448 in a number of superior strong tumors is ongoing. Preliminary security and efficacy information are anticipated to be reported within the first half of 2021. Following the completion of the dose escalation and willpower of the really helpful Part 2 dose, we plan to judge EOS-448 together with an anti-PD-1 antibody and different commonplace of care therapies or EOS-850 in particular tumor sorts.
Preclinical programs: The Firm continues to progress analysis applications targeted on further targets that complement its A2AR and TIGIT applications. The Firm is optimizing its screening and choice course of to establish potential product candidates and expects to appoint a further product candidate for Investigational New Drug, or IND, enabling research earlier than the top of 2021.
- Publication in Molecular Most cancers Therapeutics: An article on the a number of mechanisms of motion of anti-TIGIT antagonistic antibodies highlighting our work within the area and the properties of EOS-448 was accepted for publication in Molecular Most cancers Therapeutics.
- Accomplished Preliminary Public Providing (IPO) elevating $229.7 million in gross proceeds: As beforehand introduced in July 2020, the Firm accomplished its preliminary public providing of 10,586,316 shares of widespread inventory at a public providing worth of $19.00 per share. In August 2020, the underwriters exercised their choice to buy a further 1,505,359 shares.
Third Quarter 2020 Monetary Outcomes
- Money Place: The Firm’s money and money equal place was $340.0 million as of September 30, 2020, as in comparison with $19.9 million as of December 31, 2019.
- Analysis and Improvement (R&D) Bills: R&D bills have been $8.7 million for the quarter ended September 30, 2020, as in comparison with $5.0 million for the third quarter of 2019. The rise was primarily attributable to a rise in actions associated to medical trials for EOS-850 and EOS-448.
- Normal and Administrative (G&A) Bills: G&A bills have been $4.8 million for the quarter ended September 30, 2020, as in comparison with $2.7 million for the third quarter of 2019. The rise was primarily attributable to a rise in payroll and associated prices within the third quarter of 2020.
- Internet Loss: Internet loss attributable to widespread shareholders was $11.7 million, or a internet lack of $0.48 per primary and diluted share, for the quarter ended September 30, 2020, as in comparison with $8.0 million, or a internet lack of $43.03 per primary and diluted share, for the third quarter of 2019.
About iTeos Therapeutics, Inc.
iTeos Therapeutics is a clinical-stage biopharmaceutical firm pioneering the invention and growth of a brand new technology of extremely differentiated immuno-oncology therapeutics for sufferers. iTeos Therapeutics leverages its deep understanding of the tumor microenvironment and immunosuppressive pathways to design novel product candidates with an purpose to enhance the medical good thing about oncology therapies. The revolutionary pipeline consists of two clinical-stage applications concentrating on novel, validated immuno-oncology pathways designed to construct on prior learnings within the area to have differentiated pharmacological and medical profiles. Probably the most superior product candidate, EOS-850, is designed as a extremely selective small molecule antagonist of the adenosine A2AR, within the adenosine pathway, a key driver of immunosuppression within the tumor microenvironment throughout a broad vary of tumors. EOS-850 is being investigated in an open-label multi-arm Part 1/2a medical trial in grownup most cancers sufferers with superior strong tumors and inspiring preliminary single-agent exercise was noticed within the dose escalation portion of the trial. The lead antibody product candidate, EOS-448, is an antagonist of TIGIT, a checkpoint with a number of mechanisms resulting in immunosuppression. EOS-448 was additionally chosen to interact FcγR, to advertise ADCC exercise. An open-label Part 1/2a medical trial of EOS-448 was initiated in grownup most cancers sufferers with superior strong tumors. iTeos Therapeutics is headquartered in Cambridge, MA with a analysis heart in Gosselies, Belgium.
This press launch comprises forward-looking statements inside the which means of The Personal Securities Litigation Reform Act of 1995 and different federal securities legal guidelines, together with categorical or implied statements concerning iTeos’ future expectations, plans and prospects, that are primarily based on presently out there data. All statements aside from statements of historic info contained on this press launch, together with statements concerning our technique, future monetary situation, future operations, prospects, plans, targets of administration and anticipated development, are forward-looking statements. In some instances, you’ll be able to establish forward-looking statements by terminology equivalent to ‘‘purpose,’’ ‘‘anticipate,’’ ‘‘assume,’’ ‘‘imagine,’’ ‘‘ponder,’’ ‘‘proceed,’’ ‘‘might,’’ ‘‘design,’’ ‘‘due,’’ ‘‘estimate,’’ ‘‘count on,’’ ‘‘purpose,’’ ‘‘intend,’’ ‘‘could,’’ ‘‘goal,’’ ‘‘plan,’’ ‘‘predict,’’ ‘‘positioned,’’ ‘‘potential,’’ ‘‘search,’’ ‘‘ought to,’’ ‘‘goal,’’ ‘‘will,’’ ‘‘would’’ and different comparable expressions which can be predictions of or point out future occasions and future developments, or the destructive of those phrases or different comparable terminology and comparable expressions that represent forward-looking statements below the Personal Securities Litigation Reform Act of 1995. These forward-looking statements embrace statements in regards to the initiation, timing, progress and outcomes of our present and future medical trials and present and future preclinical research of our product candidates, together with our medical trials of EOS-850, our medical trials of EOS-448 and of our analysis and growth applications; uncertainties inherent in medical research and within the availability and timing of information from ongoing medical trials; the enrollment of our ongoing medical trials; whether or not interim outcomes from a medical trial might be predictive of the ultimate outcomes of the trial; whether or not outcomes from preclinical research or earlier medical research might be predictive of the outcomes of future medical trials; our capacity to efficiently set up or preserve collaborations or strategic relationships for our product candidates; the anticipated timing for submissions for regulatory approval or assessment by governmental authorities; the composition of our board of administrators; our monetary efficiency; whether or not our money assets might be adequate to fund our foreseeable and unforeseeable working bills and capital expenditure necessities; dangers, uncertainties and assumptions concerning the impression of the persevering with COVID-19 pandemic on our enterprise, operations, methods and anticipated timelines, together with mitigation efforts and financial results, together with however not restricted to our preclinical research and future medical trials; and our plans to develop and commercialize our present product candidates and any future product candidates and the implementation of our enterprise mannequin and strategic plans for our enterprise, present product candidates and any future product candidates, and different dangers regarding iTeos’ applications and operations which can be described in further element in our Quarterly Report on Kind 10-Q and our different filings made with the Securities and Alternate Fee on occasion. Though our forward-looking statements mirror the great religion judgment of administration, these statements are primarily based solely on info and circumstances presently recognized to iTeos. In consequence, you’re cautioned to not depend on these forward-looking statements. Any forward-looking assertion made on this press launch speaks solely as of the date on which it’s made. iTeos undertakes no obligation to publicly replace or revise any forward-looking statements, whether or not because of new data, the prevalence of sure occasions or in any other case.
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