Bellicum Pharmaceuticals Provides Operational Update and Reports Financial Results for Fourth Quarter and Year Ended December 31, 2015
BPX-501 clinical data reported at ASH 2015 demonstrated disease-free outcomes in patients with genetic diseases
Three novel product candidates planned to initiate Phase 1 studies in 2016
Management to host conference call and webcast today at
“In 2015, Bellicum made significant progress across all of our T-cell
immunotherapy programs, reporting positive interim results with our lead
product candidate BPX-501, and advancing our CAR T and TCR programs,”
Continued Mr. Farrell, “Building on this momentum, we look forward to
achieving important milestones in 2016, with data updates from the
BPX-501 program expected to be presented at several medical meetings. We
also expect to launch Phase 1 clinical trials of three novel product
candidates: BPX-701 and BPX-601 in mid-2016, and BPX-401 in the second
half of 2016. The BPX-701 and BPX-601 programs were reviewed at the
2015 HIGHLIGHTS AND CURRENT UPDATES
Adjunct T-cell therapy administered after allogeneic hematopoietic stem cell transplantation (HSCT), using genetically modified donor T cells incorporating our CaspaCIDe® safety switch, is being evaluated in malignant and nonmalignant blood diseases.
- Enrollment in Phase 1/2 BP-004 clinical trial continues at strong pace, with 63 pediatric patients enrolled in the E.U. and 12 patients enrolled in the U.S. to date.
Granted orphan drug designation by the
FDAfor the combination of BPX-501 genetically modified T cells and activator agent rimiducid as “replacement T-cell therapy for the treatment of immunodeficiency and Graft versus Host Disease after allogeneic hematopoietic stem cell transplant."
Reported interim data from ongoing BP-004 trial, demonstrating
disease-free outcomes in pediatric patients with genetic blood
diseases who had undergone HSCT followed by BPX-501 donor T-cell
replacement. Presented at the 57th Annual Meeting of the
American Society of Hematology(ASH) in December 2015, the data showed that treated patients achieved immune recovery significantly faster than historical control subjects not given BPX-501, as well as a significant reduction in time to hospital discharge (21 days sooner vs. historical controls) and reduced re-hospitalizations. In addition, none of the patients had developed chronic GvHD and no patient died of transplantation-related complications. Of the 39 patients treated (as of Nov. 30, 2015), 21 had genetic blood diseases, including Fanconi anemia, beta thalassemia, SCID and Wiskott-Aldrich Syndrome, and 18 had blood cancers.
DOTTI study clinical data published in BLOOD highlighted safety and
effectiveness of CaspaCIDe-modified T-cell add-back. Results
of a 12-patient investigator-sponsored trial conducted by
Baylor College of Medicinedemonstrated that the add-back led to improved immune reconstitution and infection control. The data also showed that GvHD can be rapidly controlled and resolved by administration of rimiducid, and that the productive anti-viral cells remain, repopulate and maintain immunity.
U.S. patent issued to
Baylor College of Medicinefor technology exclusively licensed to Bellicum. The patent, issued for methods of inducing selective apoptosis of cells, extends Bellicum’s proprietary rights to the use of its lead product candidate until at least 2031.
High affinity T cell receptor (TCR) product candidate, incorporating our CaspaCIDe safety switch, is designed to target malignant cells expressing the preferentially-expressed antigen in melanoma (PRAME).
Bellicum continues to advance its next-generation, proprietary TCR
product candidate targeting PRAME. The Company licensed the
PRAME-specific TCR technology from
Leiden University Medical Centerin April 2015and is preparing for the start of clinical trials for the initial planned indications of Refractory or Relapsed Acute Myeloid Leukemia (AML) and Myelodysplastic Syndromes (MDS), with an additional clinical trial planned for metastatic uveal melanoma. Each of these are orphan indications in which PRAME is highly expressed and for which current treatment options are limited.
GoCAR-T™ product candidate, containing proprietary iMC (inducible MyD88/CD40) activation switch, is designed to treat solid tumors expressing prostate stem cell antigen (PSCA).
- Continued to advance the Company’s first GoCAR-T product candidate toward the clinic. The planned indication for the initial Phase 1 study is non-resectable pancreatic cancer. Preclinical data reported at ASH 2015 showed robust anti-tumor activity, and enhanced T-cell proliferation and persistence compared to traditional CAR T constructs.
Obtained an exclusive global license from
Agensysfor adoptive cell therapies targeting tumors expressing PSCA.
CIDeCAR™ product candidate, incorporating novel, proprietary MC costimulatory domain and CaspaCIDe® safety switch, is designed to target blood cancers expressing CD19.
- Presented preclinical data at ASH 2015 highlighting the potent anti-tumor effects of BPX-401. The preclinical in vivo results showed that tumors can be eliminated quickly and safely with CIDeCAR cells. Notably, BPX-401 elicited dose-dependent elevation of cytokines, analogous to cytokine release syndrome, but cytokine levels were rapidly normalized upon administration of rimiducid, without loss of tumor control.
- Committed to build-out of in-house U.S. manufacturing capabilities. The Company leased an additional 27,000 square feet at its current location and completed the design phase for the build-out of manufacturing space. The facility is designed to support the efficient manufacturing of our novel cellular immunotherapies for clinical trials and early commercial requirements.
Recently closed on a debt financing agreement with
Hercules Capitalto support the build-out of the Company’s U.S. manufacturing facilities. Under the loan terms, Bellicum can borrow up to $30 million, of which the final $10 milliontranche is contingent upon achievement of specified milestones and approval by Hercules’ investment committee.
ANTICIPATED 2016 MILESTONES
Expect to provide an update on the nonmalignant patient cohort from
the BP-004 clinical trial, as well as initial data for patients with
blood cancers treated at the lead European clinical trial site, during
the 42nd Annual Meeting of the
European Society for Blood and Marrow Transplantation(EBMT) which takes place April 3– 6, 2016.
Expect to meet with regulators in
Europeand the U.S. in the second quarter of 2016, with the goal of defining the path to regulatory filing and approval initially for nonmalignant pediatric genetic diseases.
Anticipate presenting updated data from the BPX-501 program at ASH in
- Expect to begin enrolling patients in a Phase 1 clinical trial for refractory or relapsed acute AML and MDS in mid-2016.
- Expect to begin enrolling patients in a Phase 1 clinical trial in mid-2016 for non-resectable pancreatic cancer.
- Expect to move a CIDeCAR product candidate directed to the CD19 antigen into the clinic in the second half of 2016.
- Expect to complete build-out of the U.S. cGMP viral vector and cellular therapy manufacturing facility by the end of 2016.
- Expect to establish a European presence and initiate activities in anticipation of the potential commercialization of BPX-501 in future years.
Fourth Quarter and Full Year 2015 Financial Results
Cash Position and Guidance: Bellicum ended the year on
Grant Revenues were $34,000 and $282,000 for the fourth quarter
and year ended December 31, 2015, respectively,
and $14,000 and $1,780,000 during the comparable periods in 2014. The
decrease in full year 2015 grant revenues was primarily due to the June
2014 expiration of the Company’s grant award from the Cancer Prevention
and Research Institute of
R&D Expenses: Research and development expenses were
License fees were
G&A Expenses: General and administrative expenses were
Net Loss: Bellicum reported a net loss of
Shares Outstanding: At
Conference Call and Webcast
Bellicum management will host a webcast and conference call at
Bellicum is a clinical stage biopharmaceutical company focused on discovering and developing cellular immunotherapies for cancers and orphan inherited blood disorders. Bellicum is using its proprietary Chemical Induction of Dimerization (CID) technology platform to engineer and control components of the immune system. Bellicum is developing next-generation product candidates in some of the most important areas of cellular immunotherapy, including hematopoietic stem cell transplantation (HSCT), and CAR T and TCR cell therapies. More information can be found at www.bellicum.com.
This press release contains forward-looking statements for purposes
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. We may, in some cases, use terms such as "predicts,"
"believes," "potential," "proposed," "continue," "estimates,"
"anticipates," "expects," "plans," "intends," "may," "could," "might,"
"will," "should" or other words that convey uncertainty of future events
or outcomes to identify these forward-looking statements.
Forward-looking statements include statements regarding our intentions,
beliefs, projections, outlook, analyses or current expectations
concerning, among other things: the timing of our clinical trials and of
our research and development activities relating to BPX-501, BPX-701,
BPX-601 and BPX-401; the effectiveness and success of our research and
development activities relating to our CaspaCIDe, CIDeCAR and GoCAR-T
platforms; and the effectiveness of BPX-501, BPX-701 BPX-601, and
BPX-401 and their possible range of applications and potential curative
effects and safety profiles; and the timing and success of our
manufacturing facilities build-out. Various factors may cause
differences between Bellicum’s expectations and actual results as
discussed in greater detail in Bellicum’s filings with the
|BELLICUM PHARMACEUTICALS, INC.|
|Unaudited Condensed Balance Sheets|
|December 31,||December 31,|
|Cash and cash equivalents||$||70,241||$||191,602|
|Investment securities, available-for-sale - short-term||23,820||-|
|Receivables and other current assets||2,829||1,620|
|Investment securities, available-for-sale, long-term||56,304||-|
|Property and equipment, net||6,882||2,427|
|Other assets, net||330||145|
|Accounts payable and other accrued liabilities||$||7,186||$||3,372|
|Other current liabilities||259||264|
|Other liabilities, net of current portion||944||522|
|Total Stockholders' Equity||152,017||191,636|
|Total liabilities and stockholders' equity||$||160,406||$||195,794|
|BELLICUM PHARMACEUTICALS, INC.|
|Unaudited Condensed Statements of Operations|
|(in thousands, except share and per share amounts)|
|Three Months Ended||Year Ended|
|December 31,||December 31,|
|Research and development||10,223||4,190||33,561||12,071|
|ARIAD license restructuring||-||43,212||-||43,212|
|General and administrative||3,816||2,003||12,672||4,335|
|Total operating expenses||17,039||49,405||49,417||59,618|
|Change in fair value of warrant liability||-||(23,174||)||-||(24,371||)|
|Interest income (expense), net||157||(1,733||)||587||(1,756||)|
|Preferred stock dividends||-||-||-||(1,432||)|
|Net loss attributable to common shareholders||$||(16,848||)||$||(74,298||)||$||(48,548||)||$||(85,397||)|
|Net loss per share attributable to common|
|shareholders, basic and diluted||$||(0.63||)||$||(18.78||)||$||(1.84||)||$||(34.04||)|
|Weighted average common shares outstanding, basic and diluted||26,770,194||3,955,345||26,346,603||2,508,960|