Full Press Release Details
Unum Therapeutics Reports Third Quarter 2018 Financial Results and Provides Business Update
- ACTR707 in Combination with Rituximab Selected as Lead Product Candidate for Further Development in r/r NHL
- New Solid Tumors Technology Platform Revealed at SITC
- More Details on Solid Tumor Activities to be Discussed at Upcoming Investor Event
CAMBRIDGE, MA, November 12, 2018 Unum Therapeutics Inc. (NASDAQ: UMRX), a clinical-stage biopharmaceutical company focused on the development of
novel cellular immunotherapies, today reported financial results and provided a corporate update for the third quarter ended September 30, 2018 and recent activities.
In the third quarter of 2018, we continued to make significant progress advancing our clinical pipeline, said Chuck Wilson, CEO of Unum. We
are excited to announce today that we have selected ACTR707 in combination with rituximab for further development in patients with relapsed or refractory non-Hodgkin lymphoma. Early data from the ATTCK-20-03 trial continue to support our novel ACTR platform and potential best-in-class
product profile. In addition, we remain on track with our two additional clinical studies, ATTCK-17-01 in multiple myeloma and ATTCK-34-01 in HER2+ solid tumors, and are looking forward to presenting further updates on all trials at upcoming scientific conferences in December. Finally, we are pleased with our significant progress in
developing a second novel technology platform, BOXR, which is designed to improve T cell functionality in solid tumors, and we look forward to developing future products based on this platform.
Third 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 technologies include Antibody-Coupled T cell Receptor (ACTR), a universal, engineered cell therapy intended to be used in combination with a wide range
of tumor-specific antibodies to target different tumor types, and Bolt-On Chimeric Receptor (BOXR), an approach for improving T cell functionality to enable solid tumor cancer applications. ACTR707 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 an additional product candidate in Phase I clinical testing: ACTR087 used in combination with the novel antibody SEA-BCMA in adult patients with relapsed or refractory multiple myeloma.
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+ advanced cancer. This Phase I trial is expected to be initiated by the end of 2018.
The Company is headquartered in Cambridge, MA.
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 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.
Stephanie Ascher, 212-362-1200
Paul Kidwell, 617-680-1088
UNUM THERAPEUTICS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||
| Collaboration revenue | $ | 2,043 | $ | 2,331 | $ | 5,929 | $ | 6,237 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 10,252 | 8,177 | 27,520 | 22,270 | ||||||||||||
| General and administrative | 2,367 | 1,324 | 5,410 | 3,239 | ||||||||||||
| Total operating expenses | 12,619 | 9,501 | 32,930 | 25,509 | ||||||||||||
| Loss from operations | (10,576 | ) | (7,170 | ) | (27,001 | ) | (19,272 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 405 | 100 | 745 | 287 | ||||||||||||
| Other income, net | 3 | 70 | 330 | 183 | ||||||||||||
| Total other income, net | 408 | 170 | 1,075 | 470 | ||||||||||||
| Net loss | (10,168 | ) | (7,000 | ) | (25,926 | ) | (18,802 | ) | ||||||||
| Accretion of redeemable convertible preferred stock to redemption value | (16 | ) | (16 | ) | (49 | ) | ||||||||||
| Net loss attributable to common stockholders | $ | (10,168 | ) | $ | (7,016 | ) | $ | (25,942 | ) | $ | (18,851 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.34 | ) | $ | (0.69 | ) | $ | (1.12 | ) | $ | (1.85 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 29,879,476 | 10,192,189 | 23,169,348 | 10,190,889 |
UNUM THERAPEUTICS INC.
CONSOLIDATED BALANCE SHEET DATA
| September 30, 2018 | December 31, 2017 | |||||||
| Cash, cash equivalents and marketable securities | $ | 87,120 | $ | 40,961 | ||||
| Working capital | 63,115 | 31,189 | ||||||
| Total assets | 94,786 | 49,115 | ||||||
| Redeemable convertible preferred stock | 77,151 | |||||||
| Total stockholders equity (deficit) | 67,531 | (48,846 | ) |