REDWOOD CITY, Calif., May 8, 2014 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals, Inc. (Nasdaq:OMED), a clinical-stage company developing novel therapeutics that target cancer stem cells (CSCs), or tumor-initiating cells, today reported financial results and reviewed corporate events for the quarter ended March 31, 2014.
"2014 is off to a strong start. Demonstrable progress is being achieved across OncoMed's clinical and discovery portfolio. With 15 ongoing clinical trials, we are focused on enrolling patients, enhancing our understanding of the therapeutic opportunities that can be addressed by anti-cancer stem cell therapeutics and advancing multiple candidates toward randomized Phase 2 studies," said OncoMed's Chairman and Chief Executive Officer, Paul J. Hastings. "We will have a number of opportunities throughout this year to present data at major oncology congresses as we did during the first quarter at ASCO GI and AACR. Looking ahead, we will report new data from three programs – the Phase 1b study of demcizumab in non-small cell lung cancer, the Phase 1b/2 PINNACLE trial of anti-Notch2/3 in small-cell lung cancer and the Phase 1a trial of Fzd8-Fc in patients with advanced solid tumors – at the 2014 ASCO Annual Meeting in June."
Recent Business Highlights
- Announced three abstracts accepted for presentation at the upcoming American Society for Clinical Oncology (ASCO) Annual Meeting being held May 30- June 3, 2014:
- An oral presentation of Phase 1a data of Fzd8-Fc (OMP-54F28) in patients with advanced solid tumors
- A poster presentation of interim Phase 1b PINNACLE study data on anti-Notch2/3 (OMP-59R5) in combination with etoposide and cisplatin in patients with untreated extensive-stage small-cell lung cancer
- A poster presentation of updated Phase 1b data on demcizumab (anti-DLL4, OMP-21M18), pemetrexed, and carboplatin in patients with first line nonsquamous non-small cell lung cancer
- Received orphan drug designation for demcizumab for the treatment of pancreatic cancer from the U.S. Food and Drug Administration (FDA) Department of Orphan Products Development
- In April, released nine presentations at the 2014 American Association for Cancer Research (AACR) Annual Meeting. Research presented at AACR highlighted OncoMed's drug discovery platforms, along with preclinical and biomarker discoveries on its clinical-stage product candidates and emerging product candidates.
- Completed patient enrollment in the ongoing Phase 1a clinical studies of vantictumab (anti-Fzd7, OMP-18R5) and Fzd8-Fc. These programs are part of OncoMed's Wnt pathway collaboration with Bayer.
- Initiated three Phase 1b clinical trials of Fzd8-Fc in combination with standard of care in January and February. Fzd8-Fc is being studied in combination with sorafenib (Nexavar ®) in hepatocellular cancer, with carboplatin and paclitaxel in platinum-sensitive ovarian cancer and with Abraxane ® (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) plus gemcitabine in pancreatic cancer. In addition to the three Phase 1b clinical studies of Fzd8-Fc, OncoMed is conducting three Phase 1b trials with vantictumab in combination with standard of care in Her2- breast cancers, non-small cell lung cancer and pancreatic cancer.
- Presented updated data from the Phase 1b clinical trial of demcizumab plus Abraxane in combination with gemcitabine in first-line Stage IV pancreatic cancer and interim results from the Phase 1b ALPINE clinical study of anti-Notch 2/3 in combination with Abraxane plus gemcitabine in pancreatic cancer at the 2014 Gastrointestinal Cancers Symposium (ASCO GI). Demcizumab is part of OncoMed's collaboration with Celgene. Anti-Notch2/3 is part of OncoMed's collaboration with GlaxoSmithKline (GSK).
- Appointed Sunil Patel as Chief Financial Officer, Senior Vice President Corporate Development & Finance.
- Granted a fourth broad U.S. patent (No. 8,628,774) relating to antibodies that target the RSPO-LGR pathway, which is believed to be an important CSC pathway.
- Initiate the randomized Phase 2 portions of the ALPINE and PINNACLE clinical trials of anti-Notch2/3 in pancreatic cancer and small cell lung cancer, respectively
- Initiate randomized Phase 2 clinical program for demcizumab
- File an Investigational New Drug (IND) application with the FDA for anti-DLL4/anti-VEGF bispecific (OMP-305B83)
- Present clinical and preclinical data at upcoming scientific and medical conferences
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV