Vincerx Pharma Reports First Quarter 2022 Financial Results and Provides a Corporate Update
Company to present poster on VIP152 at upcoming European Hematology Association Annual Meeting
Presented preliminary findings on VIP152 in gynecologic malignancies in poster at AACR Annual Meeting
Continues to execute on Phase 1b VIP152 clinical studies; on track to initiate Phase 2 VIP152 studies in 2H2022
On track for IND filing for VIP236 in 2H2022
Expected cash runway through 2023
PALO ALTO, Calif., May 12, 2022 (GLOBE NEWSWIRE) -- Vincerx Pharma, Inc. (Nasdaq: VINC), a biopharmaceutical company aspiring to address the unmet medical needs of patients with cancer through paradigm-shifting therapeutics, today reported financial results for the first quarter ended March 31, 2022 and provided a corporate update.
“In April, we presented positive preclinical and preliminary clinical data on PTEFb/CDK9 inhibitor VIP152 at AACR. These data, coupled with our findings presented at ASH last year, suggest that VIP152 has the potential to provide new treatment options for patients across various MYC and MCL-1-driven tumor types,” said Ahmed Hamdy M.D., Chief Executive Officer of Vincerx.
“We continue dosing patients in our VIP152 clinical program and are seeing improvements in trial enrollment following a challenging pandemic year,” added Dr. Hamdy. “This June, we are excited for our poster presentation at the annual European Hematology Association meeting, which will show data from patients with lymphoma treated with VIP152. We remain on track to initiate Phase 2 studies of VIP152 in the second half of this year.”
“Looking to the second half of this year and into 2023, we look forward to continuing to advance our preclinical bioconjugation platform – a diverse, modular platform of linkers and payloads that can be conjugated with antibodies and small molecules to create novel targeted therapeutics for a broad range of solid tumors and hematologic malignancies. We remain on track to file an IND in the second half of this year for VIP236, a small molecule drug conjugate (SMDC) engineered to bind an avß3 integrin adhesion molecule that is abundantly expressed in advanced metastatic solid tumors. avß3 is a hallmark of aggressive cancers and poor prognosis. We also remain on-target to file INDs in the second half of 2023 for our two initial antibody drug conjugates (ADCs), VIP943, an anti-IL3RA-KSPi, and VIP924, an anti-CXCR5-KSPi, both with a CellTrapper™ moiety. From a financial perspective, our current cash resources position us to continue to pursue our upcoming regulatory and clinical milestones,” concluded Dr. Hamdy.
RECENT CORPORATE HIGHLIGHTS
FIRST QUARTER FINANCIAL RESULTS
ABOUT VINCERX PHARMA, INC.
Actual results, conditions and events may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results, conditions and events to differ materially from those indicated in the forward-looking statements include, but are not limited to: general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of the COVID-19 pandemic; risks associated with preclinical or clinical development and trials, including those conducted prior to Vincerx’s in-licensing; failure to realize the benefits of Vincerx’s license agreement with Bayer; risks related to the rollout of Vincerx’s business and the timing of expected business milestones; changes in the assumptions underlying Vincerx’s expectations regarding its future business or business model; Vincerx’s ability to develop and commercialize product candidates; Vincerx’s capital requirements and availability and uses of capital; the effects of competition on Vincerx’s future business; and the risks and uncertainties set forth in Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time by Vincerx. Forward-looking statements speak only as of the date hereof, and Vincerx disclaims any obligation to update any forward-looking statements.
Vincerx Pharma, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)