Full Press Release Details
Unum Therapeutics Reports Third Quarter 2019 Financial Results
- Progress towards focusing on solid tumors remains on track with enrollment and early safety updates from Phase 1 trial of ACTR707 in HER2+
cancers expected by the end of this year-
CAMBRIDGE, MA, November 12, 2019 Unum Therapeutics Inc. (NASDAQ: UMRX), a clinical-stage
biopharmaceutical company focused on developing curative cell therapies for cancer, today reported financial results and corporate updates for the third quarter ended September 30, 2019, and provided recent activities.
Our recently announced strategic focus towards addressing the challenge of treating solid tumor cancers is well underway with ACTR707, BOXR1030, and our
BOXR platform that is designed to discover new product candidates aimed at improving the function of T cell therapies in the solid tumor microenvironment, said Chuck Wilson Ph.D., President and Chief Executive Officer of Unum. BOXR1030,
which co-expresses the GOT2 transgene and is designed to improve T cell metabolism and reduce T cell exhaustion, generated complete tumor regressions under metabolically challenging conditions in preclinical
studies as presented at the SITC meeting. For ACTR707, our Phase 1 trial is progressing nicely and we remain on track to report enrollment and early safety updates from patients treated in the first dose cohort by the end of this year.
Recent Program and Corporate Highlights
Separately, Unum and its partner, Seattle Genetics, Inc., have suspended further dose-escalation of the ATTCK-17-01 Phase 1 trial of ACTR087 with SEA-BCMA in multiple myeloma pending a further review of this program. Two additional cohorts of patients have been treated in
the Phase 1 trial in 2019, escalating doses of the SEA-BCMA antibody to 2.0 mg/kg and of the ACTR087+ T cells to 50M. No dose-limiting toxicities (DLTs) following ACTR087 administration were reported and no
severe adverse events of cytokine release syndrome (CRS) or neurologic events have been observed to date.
Presenting Author: Javier Munoz, M.D.,
M.S., Banner MD Anderson Cancer Center, Gilbert AZ
Date & Time: Oral #244, Saturday, December 7, 2019, 2:45
Presenting Author: Ian Flinn, M.D., Ph.D., Sarah Cannon Research Institute, Nashville, TN
Date & Time: Poster #1587, Saturday, December 7, 2019, 5:30 p.m. ET
Third Quarter 2019 Financial Results
About Unum Therapeutics
Unum Therapeutics is a clinical-stage biopharmaceutical company focused on developing curative cell therapies to treat a broad range of cancer patients.
Unum s novel proprietary technologies include Antibody-Coupled T cell Receptor (ACTR), an autologous engineered T-cell therapy that combines the cell-killing ability of T cells and the tumor-targeting
ability of co-administered antibodies to exert potent antitumor immune responses, and Bolt-On Chimeric Receptor (BOXR), designed to improve the functionality of
engineered T cells by incorporating a bolt-on transgene to overcome resistance of the solid tumor microenvironment to T cell attack. Unum has multiple programs in Phase 1 clinical and preclinical
testing, including; ACTR707 used in combination with trastuzumab in adult patients with HER2+ advanced cancer and used in combination with rituximab in adult patients with r/r NHL; and BOXR1030 expressing the GOT2 transgene and targeting GPC3+ solid
tumor cancers. The Company is headquartered in Cambridge, MA.
Follow Unum Therapeutics on social media: @UnumRx, and LinkedIn.
Forward looking Statements
This press release contains
forward-looking statements including, without limitation, statements regarding our future expectations, plans and prospects, including projections regarding future revenues and financial performance, our long-term growth, enrollment and results for
our preclinical and clinical activities, the development of our product candidates, including the ACTR product candidates and the BOXR platform and product candidates, and the anticipated timing and success of any of our preclinical studies,
clinical trials and regulatory filings, 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, as amended. 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
UNUM THERAPEUTICS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, $ in thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2019 | 2018 | 2019 | 2018 | |||||||||||||
| Collaboration revenue | $ | 1,020 | $ | 2,043 | $ | 7,211 | $ | 5,929 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 10,335 | 10,252 | 33,355 | 27,520 | ||||||||||||
| General and administrative | 2,721 | 2,367 | 8,274 | 5,410 | ||||||||||||
| Total operating expenses | 13,056 | 12,619 | 41,629 | 32,930 | ||||||||||||
| Loss from operations | (12,036 | ) | (10,576 | ) | (34,418 | ) | (27,001 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 31 | 405 | 206 | 745 | ||||||||||||
| Other income, net | 82 | 3 | 82 | 330 | ||||||||||||
| Total other income, net | 113 | 408 | 288 | 1,075 | ||||||||||||
| Net loss | (11,923 | ) | (10,168 | ) | (34,130 | ) | (25,926 | ) | ||||||||
| Accretion of redeemable convertible preferred stock to redemption value | (16 | ) | ||||||||||||||
| Net loss attributable to common stockholders | $ | (11,923 | ) | $ | (10,168 | ) | $ | (34,130 | ) | $ | (25,942 | ) | ||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.39 | ) | $ | (0.34 | ) | $ | (1.12 | ) | $ | (1.12 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 30,661,125 | 29,879,476 | 30,418,752 | 23,169,348 |
UNUM THERAPEUTICS INC.
CONSOLIDATED SELECTED BALANCE SHEET DATA
(unaudited, in thousands)
| September 30, 2019 | December 31, 2018 | |||||||
| Cash, cash equivalents and marketable securities | $ | 45,882 | $ | 78,594 | ||||
| Working capital | $ | 23,548 | $ | 56,057 | ||||
| Total assets | $ | 57,884 | $ | 85,927 | ||||
| Total liabilities | $ | 29,261 | $ | 25,693 | ||||
| Total stockholders equity | $ | 28,623 | $ | 60,234 |