Company continues to shift to commercial focus as it seeks partners to advance R&D
“I am very proud of our exceptional research team, whose work has contributed greatly to the scientific discourse and understanding of advanced cancers,” said
The Company will continue to share accumulated preclinical data, including the presentation of two separate posters at the
The phasing down of research activities is aligned with the Company’s focus on its commercial business and will further optimize its organizational cost structure, pursuant to the goal of generating positive Adjusted EBITDAi. These changes are expected to result in a restructuring charge of approximately
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i Adjusted EBITDA is a non-IFRS Measure
About Sudocetaxel Zendusortide (TH1902) and SORT1+ Technology™
Sudocetaxel zendusortide is a first-of-its-kind sortilin receptor (SORT1)-targeting PDC, and the first compound to emerge from the Company’s broader licensed oncology platform. A new chemical entity, sudocetaxel zendusortide employs a cleavable linker to conjugate (attach) a proprietary peptide to docetaxel, a well-established cytotoxic chemotherapeutic agent used to treat many cancers. The FDA granted Fast Track designation to sudocetaxel zendusortide as a single agent for the treatment of all sortilin-positive recurrent advanced solid tumors that are refractory to standard therapy. Sudocetaxel zendusortide is currently being evaluated in a Phase 1 clinical trial.
About
Forward-Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, the “Forward-Looking Statements”) within the meaning of applicable securities laws, that are based on management’s beliefs and assumptions and on information currently available to it. You can identify forward-looking statements by terms such as “may”, “will”, “should”, “could”, “promising”, “would”, “outlook”, “believe”, “plan”, “envisage”, “anticipate”, “expect” and “estimate”, or the negatives of these terms, or variations of them. The Forward-Looking Statements contained in this press release include, but are not limited to, statements regarding the conduct of Part 3 of the Phase 1 clinical trial using sudocetaxel zendusortide, the recrutment of patients for such Phase 1 clinical trial the development of the Company’s SORT1+ TechnologyTM platform, including the further development of sudocetaxel zendusortide, the finding of an oncology R&D partner, and the achievement of a positive Adjusted EBITDA. Although the Forward-Looking Statements contained in this press release are based upon what the Company believes are reasonable assumptions in light of the information currently available, investors are cautioned against placing undue reliance on these statements since actual results may vary from the Forward-Looking Statements contained in this press release. These assumptions include, without limitation, that the Company will be successful in recruiting the required number of patients in Part 3 of its Phase 1 clinical trial of sudocetaxel zendusortide , signs of efficacy will be observed in such Phase 1 clinical trial whereas no untoward side effects will be reported, the data collected from preclinical work on PDCs will result in finding a partner to further the development of the SORT1+ Technology™ platform, and sales of our commercial products will increase over time while expenses will remain under control allowing for the achievement of a positive Adjusted EBITDA. . Forward-Looking Statements assumptions are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such Forward-Looking Statements. These risks and uncertainties include, but are not limited to, difficulties in recruiting patients in Part 3 of its Phase 1 clinical trial of sudocetaxel zendusortide, the lack of observation of strong efficacy results, the reporting of adverse side effects from the use of sudocetaxel zendusortide leading to a halt of the clinical trial, the inability of the Company to find a R&D partner and, even if such a partner is found, the terms of any partnership deal may not be favorable to the Company, and the level of sales of our commercial products and that of our expenses may not allow the Company to generate a positive Adjusted EBITDA. . We refer current and potential investors to the “Risk Factors” section (Item 3.D) of our Form 20-F dated
We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.
Contacts:
Investor inquiries:
Senior Vice President and Chief Financial Officer
ir@theratech.com
1-438-315-6608
Media inquiries:
Senior Director, Communications & Corporate Affairs
communications@theratech.com
1-514-336-7800
Source:
2024 GlobeNewswire, Inc., source