We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gritstone bio Inc | NASDAQ:GRTS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.9627 | 0.9626 | 0.9794 | 451 | 09:30:04 |
“We have made important advances in our two cancer immunotherapy programs, GRANITE and SLATE, demonstrating early signals of clinical benefit together with a well-tolerated safety profile,” said Andrew Allen, M.D., Ph.D., co-founder, president and chief executive officer of Gritstone Oncology. “Building upon our data presented 6 months ago, we have shown that GRANITE, our personalized ‘N of 1’ therapy, consistently elicited large numbers of Class I HLA-presented neoantigen-specific CD8+ T cells in all patients treated. Furthermore, we have shown that these very same T cells can expand within the tumor mass. Excitingly, we have seen signs of clinical benefit, with no GRANITE patient at dose level 3 or above having experienced disease progression to date. Most notably, in a microsatellite-stable colon cancer patient treated at dose level three, we are observing ongoing clinical response, corresponding with a decline in the tumor marker CEA and the normalization of liver function tests. We await further CT scans to assess for RECIST response. Further colorectal cancer patients with microsatellite-stable disease are on treatment at dose level 4, and we expect to present additional data from this dose level later this year. For SLATE, our shared neoantigen program, we are initiating Phase 2 expansion cohorts.”
Recent Accomplishments
Anticipated Upcoming Milestones
Second Quarter 2020 Financial ResultsFor the three months ended June 30, 2020, Gritstone reported a net loss of $25.9 million, compared to a net loss of $21.2 million for the three months ended June 30, 2019.
Collaboration revenue was $0.5 million for the three months ended June 30, 2020, compared to $1.2 million for the three months ended June 30, 2019. Collaboration revenue was due to the Research Collaboration and License Agreement with bluebird bio Inc and another small collaboration agreement.
Total research and development expenses were $21.3 million for the three months ended June 30, 2020, compared to $18.5 million for the three months ended June 30, 2019. The increase was primarily attributable to an increase in personnel-related expenses driven by increased headcount, as well as an increase in facilities-related expenses to accommodate our manufacturing expansion and increased personnel.
General and administrative expenses were $5.3 million for the three months ended June 30, 2020, compared to $4.8 million for the three months ended June 30, 2019. The increase was primarily attributable to an increase in personnel-related expenses.
Cash, cash equivalents, marketable securities and restricted cash were $92.9 million as of June 30, 2020, compared to $128.8 million as of December 31, 2019.
About Gritstone OncologyGritstone Oncology (Nasdaq: GRTS), a clinical-stage biotechnology company, is developing the next generation of cancer immunotherapies to fight multiple cancer types. Gritstone develops its products by leveraging two key pillars—second, a proprietary machine learning-based platform, Gritstone EDGETM, which is designed to predict, from a routine tumor biopsy, the tumor-specific neoantigens (TSNA) that are presented on a patient’s tumor cells; and second, the ability to develop and manufacture potent immunotherapies utilizing patients’ TSNA to potentially drive the patient’s immune system to specifically attack and destroy tumors. The company’s individualized neoantigen-based immunotherapy, GRANITE, and its “off the shelf” shared neoantigen-based immunotherapy, SLATE, are being evaluated in clinical studies. Novel tumor-specific antigens can also provide targets for bispecific antibody (BiSAb) therapeutics for solid tumors, and Gritstone’s BiSAb program is currently in lead optimization. For more information, please visit gritstoneoncology.com.
Gritstone Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, statements related to the potential of Gritstone’s therapeutic programs; the advancements in the Company’s ongoing clinical trials; the timing of data announcements related to ongoing clinical trials and the initiation of future clinical trials, including the timing thereof. Such forward-looking statements involve substantial risks and uncertainties that could cause Gritstone’s research and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including Gritstone’s programs’ early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Gritstone’s ability to successfully establish, protect and defend its intellectual property and other matters that could affect the sufficiency of existing cash to fund operations. Gritstone undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Gritstone’s most recent Quarterly Report on Form 10-Q filed on August 5, 2020 and any current and periodic reports filed with the Securities and Exchange Commission.
ContactsMedia:Dan Budwick1AB(973) 271-6085dan@1abmedia.com
Investors:Alexandra SantosWheelhouse Life Science Advisors(510) 871-6161asantos@wheelhouselsa.com
Gritstone Oncology, Inc. | |||||||||||||||||
Condensed Consolidated Statements of Operations | |||||||||||||||||
(Unaudited) | |||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||
Collaboration revenue | $ | 488 | $ | 1,150 | $ | 1,750 | $ | 2,497 | |||||||||
Operating expenses: | |||||||||||||||||
Research and development | 21,290 | 18,529 | 43,758 | 34,428 | |||||||||||||
General and administrative | 5,255 | 4,835 | 10,720 | 9,212 | |||||||||||||
Total operating expenses | 26,545 | 23,364 | 54,478 | 43,640 | |||||||||||||
Loss from operations | (26,057 | ) | (22,214 | ) | (52,728 | ) | (41,143 | ) | |||||||||
Interest and other income, net | 189 | 1,042 | 654 | 1,962 | |||||||||||||
Net loss | $ | (25,868 | ) | $ | (21,172 | ) | $ | (52,074 | ) | $ | (39,181 | ) | |||||
Net loss per common share, basic and diluted | $ | (0.69 | ) | $ | (0.63 | ) | $ | (1.41 | ) | $ | (1.25 | ) | |||||
Shares used to compute for net loss per common share, basic and diluted | 37,256,247 | 33,582,844 | 37,027,405 | 31,273,696 | |||||||||||||
Gritstone Oncology, Inc. | |||||||||||||||||
Condensed Consolidated Balance Sheets | |||||||||||||||||
(Unaudited) | |||||||||||||||||
(In thousands) | |||||||||||||||||
June 30, | December 31, | ||||||||||||||||
2020 | 2019 | ||||||||||||||||
Assets | |||||||||||||||||
Current assets: | |||||||||||||||||
Cash and cash equivalents | $ | 62,631 | $ | 57,408 | |||||||||||||
Marketable securities | 29,282 | 70,368 | |||||||||||||||
Prepaid expenses and other current assets | 2,584 | 3,497 | |||||||||||||||
Total current assets | 94,497 | 131,273 | |||||||||||||||
Property and equipment, net | 24,581 | 26,911 | |||||||||||||||
Operating lease right-of-use assets | 23,909 | 23,427 | |||||||||||||||
Deposits and other long-term assets | 2,679 | 2,778 | |||||||||||||||
Total assets | $ | 145,666 | $ | 184,389 | |||||||||||||
Liabilities and stockholders' equity | |||||||||||||||||
Current liabilities: | |||||||||||||||||
Accounts payable | $ | 4,301 | $ | 4,621 | |||||||||||||
Accrued compensation | 3,765 | 4,598 | |||||||||||||||
Accrued liabilities | 138 | 1,041 | |||||||||||||||
Accrued research and development | 953 | 1,779 | |||||||||||||||
Lease liabilities, current portion | 4,240 | 2,505 | |||||||||||||||
Deferred revenue, current portion | 5,778 | 4,956 | |||||||||||||||
Total current liabilities | 19,175 | 19,500 | |||||||||||||||
Other non-current liabilities | 375 | - | |||||||||||||||
Lease liabilities, net of current portion | 22,258 | 20,985 | |||||||||||||||
Deferred revenue, net of current portion | 7,630 | 9,560 | |||||||||||||||
Total liabilities | 49,438 | 50,045 | |||||||||||||||
Commitments and contingencies | |||||||||||||||||
Stockholders' equity: | |||||||||||||||||
Convertible preferred stock | - | - | |||||||||||||||
Common stock | 17 | 17 | |||||||||||||||
Additional paid-in capital | 369,223 | 355,291 | |||||||||||||||
Accumulated other comprehensive gain | 50 | 24 | |||||||||||||||
Accumulated deficit | (273,062 | ) | (220,988 | ) | |||||||||||||
Total stockholders' equity | 96,228 | 134,344 | |||||||||||||||
Total liabilities and stockholders' equity | $ | 145,666 | $ | 184,389 | |||||||||||||
1 Year Gritstone bio Chart |
1 Month Gritstone bio Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions