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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Unum Therapeutics Inc | NASDAQ:UMRX | 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% | 2.35 | 2.35 | 2.40 | 0 | 01:00:00 |
– Successfully Completed IPO and Concurrent Private Placement Raising $77 Million in Gross Proceeds –
“Following our successful initial public offering in April 2018 and concurrent private placement, we are in a strong financial position to continue developing our proprietary, universal ACTR technology platform and rapidly advancing our pipeline of cellular immunotherapies through clinical development,” said Chuck Wilson, CEO of Unum. “We are currently evaluating the potential of ACTR in combination with different tumor-targeting antibodies, in three ongoing multi-center Phase I trials, ATTCK-20-2 and ATTCK-20-03 evaluating ACTR087 and ACTR707, respectively, in combination with rituximab in patients with CD20+ r/r Non-Hodgkin Lymphoma (NHL), and ATTCK-17-01 evaluating ACTR087 in combination with SEA-BCMA in patients with r/r multiple myeloma. We expect to report preliminary data from these three trials late this year. In the second half of 2018 we also look forward to filing an IND and initiating clinical development of ACTR707 in combination with trastuzumab for the treatment of patients with HER2+ advanced cancers, our first solid tumor product candidate.”
Recent Business Highlights and Outlook
First 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 technology, antibody-coupled T cell receptor (ACTR), is a universal, engineered cell therapy intended to be used in combination with a wide range of tumor-specific antibodies to target different tumor types. Unum is actively building a pipeline of product candidates composed of ACTR T cells co-administered with antibodies for use in both hematologic and solid tumor cancers. The Company is headquartered in Cambridge, MA.
Forward looking Statements
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 financing performance, our long-term growth, the anticipated timing of our clinical trials and regulatory filings, the development of our product candidates, including the four 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.
Investor Contact: Stern Investor Relations, Inc. Stephanie Ascher, 212-362-1200stephanie@sternir.com
Media Contact: Paul Kidwell, 617-680-1088paul.kidwell@unumrx.com
UNUM THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except share and per share data) | ||||||||
Three Months Ended March 31, | ||||||||
2018 | 2017 | |||||||
Collaboration revenue | $ | 2,220 | $ | 1,827 | ||||
Operating expenses: | ||||||||
Research and development | 8,142 | 6,952 | ||||||
General and administrative | 1,064 | 944 | ||||||
Total operating expenses | 9,206 | 7,896 | ||||||
Loss from operations | (6,986 | ) | (6,069 | ) | ||||
Other income (expense): | ||||||||
Interest income | 81 | 90 | ||||||
Other income, net | 170 | 40 | ||||||
Total other income, net | 251 | 130 | ||||||
Net loss | (6,735 | ) | (5,939 | ) | ||||
Accretion of redeemable convertible preferred stock to redemption value | (16 | ) | (16 | ) | ||||
Net loss attributable to common stockholders | $ | (6,751 | ) | $ | (5,955 | ) | ||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.66 | ) | $ | (0.58 | ) | ||
Weighted average common shares outstanding, basic and diluted | 10,204,591 | 10,190,228 |
UNUM THERAPEUTICS INC. CONSOLIDATED BALANCE SHEET DATA (unaudited) (in thousands) | |||||||||
March 31, 2018 | December 31, 2017 | ||||||||
Cash, cash equivalents and marketable securities | $ | 32,400 | $ | 40,961 | |||||
Working capital | 12,267 | 31,189 | |||||||
Total assets | 43,415 | 49,115 | |||||||
Redeemable convertible preferred stock | 77,167 | 77,151 | |||||||
Total stockholders' deficit | (61,269 | ) | (48,846 | ) |
1 Year Unum Therapeutics Chart |
1 Month Unum Therapeutics Chart |
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