Bellicum Reports Third Quarter 2016 Financial Results
“We are pleased with recent progress, as the pediatric trial of our lead
product candidate BPX-501 continues to enroll at a strong pace. We are
preparing for a comprehensive data update of this program at ASH 2016,
and are working with regulators in the
Third Quarter and Recent Highlights
-
Bellicum continued to advance its BPX-501 lead program and will
provide a clinical update at the 58th
American Society of Hematology (ASH) Annual Meeting in December. The BP-004 pediatric clinical trials in the U.S. andEurope have enrolled over 100 patients with orphan inherited blood disorders and blood cancers. Three abstracts, including an oral presentation focused on pediatric patients with immune deficiencies, were accepted for presentation at ASH 2016. Bellicum will also host an investor and analyst luncheon onMonday, December 5, 2016 . A full schedule can be found in the News & Events section of the Company’s website. -
The Company is completing preparations for the start of Phase 1
clinical trials for BPX-601 and BPX-701. BPX-601 GoCAR-T contains
Bellicum’s proprietary iMC activation switch and is designed to treat
solid tumors expressing prostate stem cell antigen, with the initial
clinical trial in non-resectable pancreatic cancer to be conducted at
Baylor Sammons Cancer Center . BPX-701 incorporates the CaspaCIDe® safety switch and is designed to target malignant cells expressing the preferentially-expressed antigen in melanoma (PRAME), with the initial clinical trial in Refractory or Relapsed Acute Myeloid Leukemia and Myelodysplastic Syndromes, to be conducted atOregon Health and Science University andLeiden University Medical Center . - Bellicum expanded its collaboration with Ospedale Pediatrico Bambino Gesù (OPBG) to develop novel CAR T and TCR cell therapies engineered with the CaspaCIDe safety switch. Under the agreement, the organizations agreed to jointly develop CARs and other cell therapies discovered by OPBG, with a clinical trial for a CaspaCIDe-enabled CD19 CAR T cell therapeutic anticipated to begin in 2017.
- Bellicum continued to innovate and build upon its differentiated cellular control technologies; will present data highlighting preclinical results from the application of its GoCAR-T and GoTCR technologies in two poster presentations at ASH 2016.
Third Quarter and Nine Months Ended
Bellicum reported a net loss of
As of
Research and development expenses were
General and administrative expenses were
About Bellicum Pharmaceuticals
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.
Forward-Looking Statement
This press release contains forward-looking statements for purposes
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Bellicum may, in some cases, use terms such as
"predicts," "believes," "potential," "proposed," "continue," “designed,”
"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: our
research and development activities relating to rimiducid, CaspaCIDe,
GoCAR-T, or GoTCR; the effectiveness of rimiducid, CaspaCIDe,
GoCAR-T, or GoTCR, their possible range of application and
potential curative effects and safety in the treatment of diseases; the
timing and success of our clinical trials, including the rate and
progress of enrollment in our BP-004 clinical trial or in any
observational studies and in clinical trials for BPX-601 and BPX-701;
the timing of regulatory filings for BPX-501 and for rimiducid; our
research and development activities relating to BPX-501, BPX-601 and
BPX-701; the success of our collaborations with OPBG and other
institutions and the potential applications and effectiveness of our
product candidates BPX-501, BPX-601 and BPX-701, including as compared
to other treatment options and competitive therapies. Various factors
may cause differences between Bellicum’s expectations and actual results
as discussed in greater detail under the heading “Risk Factors” in
Bellicum’s filings with the
BELLICUM PHARMACEUTICALS, INC. | |||||||||||||||||||
Unaudited Condensed Balance Sheets | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||
2016 | 2015 | ||||||||||||||||||
Current Assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 48,694 | $ | 70,241 | |||||||||||||||
Investment securities, available-for-sale - short-term | 56,613 | 23,820 | |||||||||||||||||
Receivables and other current assets | 2,280 | 2,829 | |||||||||||||||||
Non-Current Assets: | |||||||||||||||||||
Investment securities, available-for-sale, long-term | 23,791 | 56,304 | |||||||||||||||||
Property and equipment, net | 11,064 | 6,882 | |||||||||||||||||
Other assets, net | 262 | 330 | |||||||||||||||||
Total assets | $ | 142,704 | $ | 160,406 | |||||||||||||||
Current Liabilities: | |||||||||||||||||||
Accounts payable and other accrued liabilities | $ | 8,414 | $ | 7,186 | |||||||||||||||
Other current liabilities | 265 | 259 | |||||||||||||||||
Long-Term Liabilities: | |||||||||||||||||||
Long-term debt | 20,076 | - | |||||||||||||||||
Other liabilities, net of current portion | 862 | 944 | |||||||||||||||||
Total Stockholders' Equity | 113,087 | 152,017 | |||||||||||||||||
Total liabilities and stockholders' equity | $ | 142,704 | $ | 160,406 | |||||||||||||||
BELLICUM PHARMACEUTICALS, INC. | |||||||||||||||||||
Unaudited Condensed Statements of Operations | |||||||||||||||||||
(in thousands, except share and per share amounts) | |||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||||||
Grant Revenues | $ | 114 | $ | 57 | $ | 307 | $ | 248 | |||||||||||
Operating Expenses: | |||||||||||||||||||
Research and development | 13,290 | 9,792 | 36,459 | 23,522 | |||||||||||||||
General and administrative | 4,252 | 3,882 | 12,715 | 8,856 | |||||||||||||||
Total operating expenses | 17,542 | 13,674 | 49,174 | 32,378 | |||||||||||||||
Operating loss | (17,428 | ) | (13,617 | ) | (48,867 | ) | (32,130 | ) | |||||||||||
Interest income (expense), net | (291 | ) | 209 | (436 | ) | 430 | |||||||||||||
Net loss | $ | (17,719 | ) | $ | (13,408 | ) | $ | (49,303 | ) | $ | (31,700 | ) | |||||||
Net loss per share attributable to common | |||||||||||||||||||
shareholders, basic and diluted | $ | (0.66 | ) | $ | (0.51 | ) | $ | (1.83 | ) | $ | (1.21 | ) | |||||||
Weighted average common shares outstanding, basic and diluted | 26,966,630 | 26,376,456 | 26,919,984 | 26,301,914 |
View source version on businesswire.com: http://www.businesswire.com/news/home/20161109005875/en/
Source:
Investors:
Bellicum Pharmaceuticals
Alan Musso,
832-384-1116
CFO
amusso@bellicum.com
or
Media:
BMC
Communications
Brad Miles, 646-513-3125
bmiles@bmccommunications.com