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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Turning Point Therapeutics Inc | NASDAQ:TPTX | 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% | 76.01 | 71.11 | 72.20 | 0 | 01:00:00 |
“Our team made strong progress advancing our 4 clinical drug candidates in 5 ongoing clinical trials as well as our research programs with the first 2 development candidates targeted in the second half of 2022,” said Athena Countouriotis, M.D., president and CEO. “In our clinical programs, we are pleased with ongoing enrollment in our pivotal TRIDENT-1 study of repotrectinib. In addition, we recently initiated the Phase 1 expansion cohorts in our SHIELD-1 study of TPX-0022 and just last week were granted Fast Track designation for TPX-0022 in certain gastric cancer indications. We look forward to multiple data updates from our clinical studies at medical conferences during the fourth quarter.”
Second quarter and recent highlights include:
REPOTRECTINIB, ROS1/TRK Inhibitor
TPX-0022, MET/ SRC/CSF1R Inhibitor
TPX-0046, RET Inhibitor
TPX-0131, ALK Inhibitor
Discovery
Second Quarter Financial Results
Upcoming Milestones Key milestones anticipated in the second half of 2021 include:
Repotrectinib
TPX-0022
Webcast, Conference Call, Upcoming Investor ConferencesTurning Point will webcast its Quarterly Update Conference Call today, Aug. 9 at 4:30 p.m. ET/1:30 p.m. PT. Dr. Countouriotis will host the call, which will be accessible through the "Investors" section of tptherapeutics.com or by dialing (877) 388-2118 (in the United States) or (470) 495-9489 (outside the U.S.) using conference ID 4029189. A replay will be available through the "Investors" section of www.tptherapeutics.com.
Dr. Countouriotis will also participate in a targeted oncology panel discussion at the 2021 Wedbush Pacgrow Virtual Healthcare Conference on Aug. 10 at 10:55 a.m. ET, and a “fireside chat” question-and-answer session at the 41st Annual Canaccord Genuity Growth Conference on Aug. 11 at 4 p.m. ET. Both sessions will be accessible through the "Investors" section of www.tptherapeutics.com.
About Turning Point Therapeutics Inc.Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pretreated patients. The company’s pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is being studied in a Phase 1 trial of patients with advanced or metastatic solid tumors harboring genetic alterations in MET; TPX-0046, targeting RET, which is being studied in a Phase 1/2 trial of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and TPX-0131, a next-generation ALK inhibitor, which is being studied in a Phase 1/2 trial of previously treated patients with ALK-positive advanced or metastatic non-small cell lung cancer. Turning Point’s next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.
Forward Looking StatementsStatements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of Turning Point Therapeutics’ drug candidates, repotrectinib, TPX-0022, TPX-0046 and TPX-0131, the results, conduct, progress and timing of Turning Point Therapeutics’ research and development programs and clinical trials, plans regarding future data presentations, clinical trials, regulatory meetings and regulatory submissions, the regulatory approval path for repotrectinib, and the strength of Turning Point Therapeutics’ balance sheet and the adequacy of cash on hand. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plans”, “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics’ business in general, risks and uncertainties related to the impact of the COVID-19 pandemic to Turning Point’s business and the other risks described in Turning Point Therapeutics’ Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
TURNING POINT THERAPEUTICS, INC. | |
Balance Sheet Data | |
(In thousands)(unaudited) |
June 30, | December 31, | ||||||||
2021 | 2020 | ||||||||
Balance Sheet Data: | |||||||||
Cash, cash equivalents, and marketable securities | $ | 1,077,806 | $ | 1,122,508 | |||||
Working capital | 1,059,525 | 1,106,287 | |||||||
Total assets | 1,102,920 | 1,136,713 | |||||||
Accumulated deficit | (371,953 | ) | (280,176 | ) | |||||
Total stockholders' equity | $ | 1,067,507 | $ | 1,109,898 |
TURNING POINT THERAPEUTICS, INC.STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In thousands, except share and per share amounts)(unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||
Revenue | $ | 5,164 | $ | - | $ | 30,369 | $ | - | |||||||||
Operating expenses: | |||||||||||||||||
Research and development | 44,650 | 24,154 | 85,913 | 46,923 | |||||||||||||
General and administrative | 17,171 | 8,578 | 37,162 | 48,435 | |||||||||||||
Total operating expenses | 61,821 | 32,732 | 123,075 | 95,358 | |||||||||||||
Loss from operations | (56,657 | ) | (32,732 | ) | (92,706 | ) | (95,358 | ) | |||||||||
Other income, net | 384 | 1,239 | 929 | 3,147 | |||||||||||||
Net loss | (56,273 | ) | (31,493 | ) | (91,777 | ) | (92,211 | ) | |||||||||
Unrealized gain / (loss) on marketable securities, net of tax | (22 | ) | 1,063 | (208 | ) | 747 | |||||||||||
Comprehensive loss | $ | (56,295 | ) | $ | (30,430 | ) | $ | (91,985 | ) | $ | (91,464 | ) | |||||
Net loss per share, basic and diluted | $ | (1.14 | ) | $ | (0.82 | ) | $ | (1.87 | ) | $ | (2.47 | ) | |||||
Weighted-average common shares outstanding, basic and diluted | 49,204,425 | 38,603,236 | 49,063,298 | 37,261,296 |
Contact: Jim Mazzolajim.mazzola@tptherapeutics.com858-342-8272
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