FUSN Fusion Pharmaceuticals Inc.

13.51
+1.12  (+9%)
Previous Close 12.39
Open 12.4
52 Week Low 11.5
52 Week High 19
Market Cap $563,715,517
Shares 41,725,797
Float 41,155,373
Enterprise Value $225,030,624
Volume 72,018
Av. Daily Volume 38,237
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Drug Pipeline

Drug Stage Notes
FPI-1434
Solid tumors
Phase 1
Phase 1
Phase 1 multi-dose portion of trial to be initiated 4Q 2020.

Latest News

  1. HAMILTON, Ontario and BOSTON, Nov. 12, 2020 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced that the Company will participate in a "fireside chat" presentation at the Jefferies Virtual London Healthcare Conference on Thursday, November 19, 2020 at 8:30am EST / 1:30pm GMT. Presenting on behalf of Fusion will be Chief Executive Officer John Valliant, Ph.D., Chief Financial Officer John Crowley, and Chief Medical Officer James O'Leary, M.D.

    A live webcast of the event will be available on the "Events and Presentations" page in the "Investors and Media" section of the Company's website at https://ir.fusionpharma.com/events-webcasts. A replay of the webcast will be archived on the Company's website for 90 days following the presentation.  

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear linker technology, Fusion connects alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434, is currently in a Phase 1 clinical trial.

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  2. - Multi-dosing portion of Fusion's Phase 1 study of FPI-1434 on track to be initiated in Q4 2020

    - Company executes collaboration agreement with AstraZeneca to grow pipeline of next-generation radiopharmaceuticals

    HAMILTON, ON and BOSTON, Nov. 10, 2020 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced financial results for the third quarter ended September 30, 2020 and provided an update on clinical and corporate developments.

    "We are pleased with the results of the single-dose portion of our Phase 1 study of FPI-1434 that support our ability to move into the multi-dosing portion, and with trial sites now open, we continue to expect to dose our first patient in the fourth quarter," said Chief Executive Officer John Valliant, Ph.D. "Additionally, Fusion's scalable platform can support a robust pipeline of next-generation radiopharmaceuticals using our precision medicine approach. We recently executed a collaboration agreement with AstraZeneca that allows us to retain commercial rights to our existing products while expanding our pipeline. We are well-positioned with the resources and robust manufacturing and supply chain capabilities to execute on our plans, grow our business and develop potent new cancer treatments for patients in need."

    Recent Highlights and Future Milestones

    Corporate Updates

    • On November 2, Fusion announced that the Company entered into a collaboration with AstraZeneca to develop and commercialize next-generation alpha-emitting radiopharmaceuticals and combination therapies for the treatment of cancer. The collaboration leverages Fusion's Targeted Alpha Therapies (TATs) platform and expertise in radiopharmaceuticals with AstraZeneca's leading portfolio of antibodies and cancer therapeutics, including DNA Damage Response Inhibitors (DDRis). Under the terms of the agreement, the companies will jointly discover, develop and commercialize novel TATs, which will utilize Fusion's Fast-Clear™ linker technology platform with antibodies in AstraZeneca's oncology portfolio. In addition, the companies will explore combination strategies between TATs (including Fusion's lead candidate FPI-1434) and AstraZeneca therapeutics, for the treatment of various cancers. Both companies will retain full rights to their respective assets.

    FPI-1434 Monotherapy

    • Fusion convened a Safety Review Committee (SRC) meeting in the third quarter of 2020 to evaluate the safety of the single-dose cohort of 40kBq/kg (cohort three). The SRC determined the safety data of cohort three allowed Fusion to begin the multi-dosing portion of the study at the next higher planned dose level. The Company expects to dose the first patient in the multi-dosing portion of the study in the fourth quarter of 2020, assuming no delays due to the spread of COVID-19.
    • The available safety, dosimetry, pharmacokinetic and biodistribution data from the single dose escalation portion of the study provided justification for the initiation of FPI-1434 multi-dosing at 75 kBq/kg. Both FPI-1434, and the imaging analogue FPI-1547, have been well tolerated. No dose limiting toxicities or serious adverse events related to study treatment were reported.
    • Fusion anticipates reporting Phase 1 multiple-dose safety and imaging data, and the recommended Phase 2 dose/schedule, approximately nine to eighteen months after commencing this portion of the study.

    FPI-1434 Combination Therapy

    • Fusion has evaluated FPI-1434 in preclinical studies in combination with approved checkpoint and DNA damage response inhibitors, including PARP inhibitors, and believes the synergies observed could expand the addressable patient populations for FPI-1434 and allow for potential use in earlier lines of treatment.
    • Fusion anticipates the initiation of a Phase 1 combination study with FPI-1434 to occur six to nine months following determination of the recommended Phase 2 dose of FPI-1434 monotherapy.

    FPI-1966

    • FPI-1966 is designed to target and deliver Actinium-225 to tumors expressing FGFR3, a protein that is overexpressed in head and neck and bladder cancers. Following the completion of pre-clinical studies, the Company expects to submit an IND for FPI-1966 in the first half of 2021.

    Third Quarter 2020 Financial Results

    • Cash and Investments: As of September 30, 2020, Fusion held cash, cash equivalents and investments of $303.1 million, compared to cash of $65.3 million as of December 31, 2019. Fusion expects its cash, cash equivalents and investments as of September 30, 2020 will enable the Company to fund its operations into 2024.
    • R&D Expenses: Research and development expenses for the third quarter of 2020 were $4.5 million, compared to $2.2 million for the same period in 2019. The increase was primarily due to costs related to our Phase 1 clinical trial of FPI-1434, as well as other development and personnel-related costs.
    • G&A Expenses: General and administrative expenses for the third quarter of 2020 were $5.8 million, compared to $1.9 million for the same period in 2019. The increase was primarily due to an increase in professional fees, personnel-related costs and other costs including general corporate, insurance and facilities costs.
    • Net Loss: For the third quarter of 2020, Fusion reported a net loss of $10.0 million, or $0.24 per share, compared with a net loss of $0.6 million, or $0.31 per share, for the same period in 2019. On a non-GAAP basis, excluding a change in fair value of preferred share tranche right liability, net loss was $4.1 million for the third quarter of 2019.

    Upcoming Events

    • Fusion will participate in a virtual "fireside chat" presentation at the Jefferies Virtual London Healthcare Conference on Thursday, November 19 at 1:30pm GMT / 8:30am EST.

    Impact of COVID-19

    Fusion is closely monitoring how the spread of COVID-19 is affecting the Company's employees, business, preclinical studies and clinical trials. In response to the COVID-19 pandemic, certain employees have transitioned to working remotely and travel has been restricted. Fusion's research labs are operating but with reduced capacity.

    While Fusion has completed enrollment, dosing and the DLT evaluation period for the third patient cohort in the ongoing Phase 1 clinical trial of FPI-1434, the Company may not be able to enroll additional patient cohorts on the planned timeline due to disruptions at clinical trial sites. Additionally, while certain preclinical activities have restarted, Fusion is currently unable to predict when the Company will fully resume all preclinical activities.

    Although the single dose Phase 1 clinical trial has not been materially affected by the COVID-19 pandemic as of September 30, 2020, at this time, there is significant uncertainty relating to the trajectory of the pandemic and whether or not it may cause a delay in the dosing of the first patient in the multi-dosing portion of the study. The impact of related responses and disruptions caused by the COVID-19 pandemic may result in difficulties or delays in initiating, enrolling, conducting or completing the planned and ongoing trials and the incurrence of unforeseen costs as a result of disruptions in clinical supply or preclinical study or clinical trial delays. The impact of COVID-19 on future results will largely depend on future developments, which are highly uncertain and cannot be predicted with confidence.

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear linker technology, Fusion connects alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434, is currently in a Phase 1 clinical trial.

    Forward-Looking Statements

    Certain statements set forth in this press release constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by terms such as "believes," "expects," "plans," "potential," "would" or similar expressions and the negative of those terms. Such forward-looking statements involve substantial risks and uncertainties that could cause Fusion's research and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including Fusions' programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Fusion's ability to successfully establish, protect and defend its intellectual property, risks relating to business interruptions resulting from the coronavirus (COVID-19) disease outbreak or similar public health crises and other matters that could affect the sufficiency of existing cash to fund operations. Fusion undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Fusion's quarterly report on Form 10-Q for the quarter ended June 30, 2020 which is available on the Securities and Exchange Commission's website at www.sec.gov and Fusions website at www.fusionpharma.com

     

    FUSION PHARMACEUTICALS INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands, except share amounts)

    (Unaudited)







    September 30,

    2020



    December 31,

    2019

    Assets









    Current assets:









    Cash and cash equivalents



    $                 248,793



    $                   65,344

    Restricted cash



    280



    280

    Short-term investments



    43,159



    Prepaid expenses and other current assets



    4,652



    929

    Total current assets



    296,884



    66,553

    Property and equipment, net



    1,981



    1,272

    Deferred tax assets



    106



    78

    Restricted cash



    1,465



    1,497

    Long-term investments



    11,102



    Other non-current assets



    521



    Total assets



    $                 312,059



    $                   69,400

    Liabilities, Non-Controlling Interest, Convertible Preferred Shares and

       Shareholders' Equity (Deficit)









    Current liabilities:









    Accounts payable



    $                        956



    $                        830

    Accrued expenses



    4,353



    3,326

    Income taxes payable





    117

    Total current liabilities



    5,309



    4,273

    Deferred rent, net of current portion



    3



    28

    Preferred share tranche right liability





    5,741

    Income taxes payable, net of current portion



    293



    293

    Special voting shares redemption right liability (Notes 2 and 7)





    Total liabilities



    5,605



    10,335

    Commitments and contingencies (Note 12)









    Non-controlling interest in Fusion Pharmaceuticals (Ireland) Limited (Notes 2 and 7)





    20,961

    Convertible preferred shares, no par value; 0 shares and 132,207,290 shares

       authorized as of September 30, 2020 and December 31, 2019, respectively; 0 shares

       and 73,125,790 shares issued and outstanding as of September 30, 2020 and December 31,

       2019, respectively; aggregate liquidation preference of $0 and $77,965 as of

       September 30, 2020 and December 31, 2019, respectively





    71,592

    Shareholders' equity (deficit):









    Common shares, no par value, unlimited shares authorized

       as of September 30, 2020 and December 31, 2019; 41,702,384 and 1,929,555 shares issued and

       outstanding as of September 30, 2020 and December 31, 2019, respectively





    Additional paid-in capital



    406,273



    1,286

    Accumulated other comprehensive income



    (1)



    Accumulated deficit



    (99,818)



    (34,774)

    Total shareholders' equity (deficit)



    306,454



    (33,488)

    Total liabilities, non-controlling interest, convertible preferred shares and

       shareholders' equity (deficit)



    $                 312,059



    $                   69,400

     

     

    FUSION PHARMACEUTICALS INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (In thousands, except share and per share amounts)

    (Unaudited)







    Three Months Ended

    September 30,



    Nine Months Ended

    September 30,





    2020



    2019



    2020



    2019

    Operating expenses:

















    Research and development



    $           4,529



    $       2,238



    $     12,231



    $       7,216

    General and administrative



    5,790



    1,922



    14,105



    4,864

    Total operating expenses



    10,319



    4,160



    26,336



    12,080

    Loss from operations



    (10,319)



    (4,160)



    (26,336)



    (12,080)

    Other income (expense):

















    Change in fair value of preferred share tranche right liability





    3,485



    (32,722)



    3,707

    Change in fair value of preferred share warrant liability







    (6,399)



    Interest income (expense), net



    80



    247



    249



    395

    Refundable investment tax credits



    41



    44



    139



    132

    Other income (expense), net



    20



    (29)



    148



    76

    Total other income (expense), net



    141



    3,747



    (38,585)



    4,310

    Loss before (provision) benefit for income taxes



    (10,178)



    (413)



    (64,921)



    (7,770)

    Income tax (provision) benefit



    185



    (181)



    (27)



    (213)

    Net loss



    (9,993)



    (594)



    (64,948)



    (7,983)

    Unrealized loss on investments



    (1)





    (1)



    Comprehensive loss



    (9,994)



    (594)



    (64,949)



    (7,983)

    Reconciliation of net loss to net loss attributable to common shareholders:

















    Net loss



    (9,993)



    (594)



    (64,948)



    (7,983)

    Dividends paid to preferred shareholders in the form of

       warrants issued







    (1,382)



    Net loss attributable to common shareholders



    $         (9,993)



    $        (594)



    $   (66,330)



    $     (7,983)

    Net loss per share attributable to common shareholders—basic and

       diluted



    $           (0.24)



    $       (0.31)



    $       (4.30)



    $       (4.18)

    Weighted-average common shares outstanding—basic and diluted



    41,682,797



    1,929,555



    15,422,375



    1,910,695



















     

     

    FUSION PHARMACEUTICALS INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (In thousands)

    (Unaudited)







    Nine Months Ended September 30,





    2020



    2019

    Cash flows from operating activities:









    Net loss



    $                (64,948)



    $                  (7,983)

    Adjustments to reconcile net loss to net cash used in operating activities:









    Share-based compensation expense



    2,025



    328

    Depreciation and amortization expense



    373



    213

    Non-cash rent expense



    3



    (2)

    Change in fair value of preferred share tranche right liability



    32,722



    (3,707)

    Change in fair value of preferred share warrant liability



    6,399



    Amortization of premiums (accretion of discounts) on investments, net



    24



    Deferred tax benefit



    (28)



    Changes in operating assets and liabilities:









    Prepaid expenses and other current assets



    (3,792)



    16

    Other non-current assets



    (521)



    Accounts payable



    150



    408

    Accrued expenses



    1,025



    719

    Income taxes payable



    (117)



    151

    Net cash used in operating activities



    (26,685)



    (9,857)

    Cash flows from investing activities:









    Purchases of investments



    (54,286)



    Purchases of property and equipment



    (1,063)



    (340)

    Net cash used in investing activities



    (55,349)



    (340)

    Cash flows from financing activities:









    Proceeds from issuance of Class B convertible preferred shares and Class B preferred

       share tranche right, net of issuance costs



    65,676



    45,476

    Proceeds from issuance of Class B preferred exchangeable shares of Fusion

       Pharmaceuticals (Ireland) Limited and Class B preferred share tranche right,

       net of issuance costs



    6,722



    6,711

    Proceeds from the issuance of common shares upon closing of initial public offering, 

         net of underwriter fees



    197,625



    Payment of offering costs



    (4,572)



    Net cash provided by financing activities



    265,451



    52,187

    Net increase in cash, cash equivalents and restricted cash



    183,417



    41,990

    Cash, cash equivalents and restricted cash at beginning of period



    67,121



    29,080

    Cash, cash equivalents and restricted cash at end of period



    $                250,538



    $                  71,070

    Supplemental disclosure of cash flow information:









    Cash paid for income taxes



    $                       280



    $                         40

    Supplemental disclosure of non-cash investing and financing activities:









    Purchases of property and equipment included in accounts payable and accrued expenses



    $                         —



    $                           4

    Issuance of common shares upon net settlement of stock option exercise



    $                         —



    $                         57

    Issuance of warrants to purchase Class B preferred shares and Class B preferred

       exchangeable shares as a non-cash dividend to preferred shareholders



    $                    1,382



    $                         —











     

     

    FUSION PHARMACEUTICALS INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS

    (In thousands)

    (Unaudited)























    Three Months Ended

    September 30,



    Nine Months Ended

    September 30,





    2020



    2019



    2020



    2019

    GAAP Net loss



    $          (9,993)



    $            (594)



    $      (64,948)



    $        (7,983)

    Less: Adjustments

















    Change in fair value of preferred share tranche right liability





    3,485



    (32,722)



    3,707

    Change in fair value of preferred share warrant liability







    (6,399)



    Non-GAAP Net loss



    $          (9,993)



    $         (4,079)



    $      (25,827)



    $      (11,690)





















     

     

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    SOURCE Fusion Pharmaceuticals Inc.

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  3. HAMILTON, ON and BOSTON, Nov. 2, 2020 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced the appointment of Barbara Duncan, former chief financial officer of Intercept Pharmaceuticals, Inc. and member of several boards of directors within the biotechnology industry, as chairperson of the Fusion Board of Directors. Ms. Duncan brings to the board more than 25 years' experience in the biopharmaceutical industry. She replaces Damian Lamb as Fusion's chairperson.

    "Barbara's breadth and depth of industry, director and financial knowledge will be invaluable to Fusion as we solidify our position as a leader in the radiopharmaceutical space and utilize our Targeted Alpha Therapies (TAT) platform to grow our pipeline," said Chief Executive Officer John Valliant. "Additionally, her leadership experience and strategic approach to business development and corporate governance will provide important organizational and operational guidance." 

    Dr. Valliant continued, "We thank Damian for his years of service on the Board. Over his tenure, his direction and strategic guidance have been instrumental to us as we developed our platform and transitioned from a newly established biotech to a publicly traded company."

    Ms. Duncan most recently served as the chief financial officer of Intercept Pharmaceuticals Inc., a biopharmaceutical company, from 2009 to June 2016. Prior to Intercept, Ms. Duncan served as chief financial officer of DOV Pharmaceutical, Inc., another biopharmaceutical company, from 2001 to 2006 and as its chief executive officer and a member of its board of directors from 2007 to 2009.

    Ms. Duncan currently serves on the boards of directors and various committees of Adaptimmune Therapeutics, plc, Atea Pharmaceuticals, Inc., Jounce Therapeutics, Inc., ObsEva SA and Ovid Therapeutics, Inc., all publicly traded biopharmaceutical companies. Ms. Duncan holds an M.B.A. from the Wharton School of Business and a B.S. from Louisiana State University.

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear linker technology, Fusion connects alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434, is currently in a Phase 1 clinical trial.

     

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    SOURCE Fusion Pharmaceuticals Inc.

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  4. Collaboration Combines Fusion's Targeted Alpha Therapies (TATs) Platform with AstraZeneca's Antibody and Oncology Portfolio to Create Novel Cancer Therapies

    Fusion to Host a Conference Call at 8:30am ET

    HAMILTON, ON and BOSTON, Nov. 2, 2020 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced a collaboration with AstraZeneca (NASDAQ:AZN) to develop and commercialize next-generation alpha-emitting radiopharmaceuticals and combination therapies for the treatment of cancer. 

    The collaboration leverages Fusion's Targeted Alpha Therapies (TATs) platform and expertise in radiopharmaceuticals with AstraZeneca's leading portfolio of antibodies and cancer therapeutics, including DNA Damage Response Inhibitors (DDRis).

    Under the terms of the agreement, the companies will discover, develop and commercialize novel TATs, which will utilize Fusion's Fast-Clear™ linker technology platform with antibodies in AstraZeneca's oncology portfolio. In addition, the companies will  exclusively explore certain specified combination strategies between TATs (including Fusion's lead candidate FPI-1434) and AstraZeneca therapeutics, for the treatment of various cancers. Both companies will retain full rights to their respective assets. 

    "This collaboration represents a true partnership that combines the expertise and intellectual property of each collaborator," said Fusion Pharmaceuticals Chief Executive Officer John Valliant, Ph.D. "The agreement will allow us to leverage Fusion's platform and AstraZeneca's industry-leading antibody portfolio, creating new therapies with shared rights on new TATs, while allowing Fusion to retain full ownership of our existing programs. We are excited about AstraZeneca's long-term commitment to our collaboration, including significant support for exploring combination therapies. We believe it is evidence of the growing interest in the use of molecularly-targeted radiation as a next-generation cancer therapy."

    "Radiopharmaceuticals are a promising area of exploration in oncology, with the potential to deliver radiation therapy selectively to tumors. With this collaboration, we will seek to identify synergies between our pipelines to unlock the full potential of our medicines, and also to develop novel targeted radiopharmaceuticals," said Susan Galbraith, Ph.D., Senior Vice President and Head of Research and Early Development, Oncology R&D, AstraZeneca. "We believe that the Fusion team's expertise in next-generation radiopharmaceuticals complements AstraZeneca's extensive research and development portfolio."

    Collaboration Terms

    The agreement includes an upfront payment from AstraZeneca, as well as future development milestone and other payments.

    Co-Development and Potential Co-Commercialization of Novel TATs

    Under the terms of the agreement, Fusion and AstraZeneca will jointly discover, develop and have the option to co-commercialize novel TATs in the United States.  The novel TATs will leverage Fusion's Fast-Clear linker technology to bind the alpha-emitting isotope Actinium-225 to antibodies in AstraZeneca's oncology portfolio. Fusion will be responsible for preclinical development through first-time-in-human studies, while AstraZeneca will be responsible for subsequent clinical development. For these novel TATs, the companies will share development costs equally through clinical development. Fusion will have co-promotion rights in the United States and AstraZeneca will have commercialization rights in the rest of the world, unless otherwise agreed. Both companies will have a 50/50 profit and loss share on a worldwide basis.

    Development of Combination Therapies with Fusion and AstraZeneca Products

    The companies will also evaluate potential combination strategies involving existing assets in their respective portfolios. Fusion will conduct preclinical development. AstraZeneca will conduct and fund clinical development of the combination therapies.  Each company retains all rights to their respective assets. 

    Fusion Conference Call Information

    Fusion will host a live conference call and webcast today beginning at 8:30 a.m. ET to discuss the collaboration agreement. To access the live call, please dial 1-877-870-4263 (domestic) or 1-412-317-0790 (international) and refer to the Fusion Pharmaceuticals event. A webcast of the conference call will be available under "Events and Presentations" in the Investors & Media section of Fusion's website at https://ir.fusionpharma.com/overview. The archived webcast will be available on Fusion's website shortly after the conclusion and will be available for 90 days following the event.

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear linker technology, Fusion connects alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434, is currently in a Phase 1 clinical trial.

    About AstraZeneca

    AstraZeneca (NASDAQ:AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in three therapy areas - Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca.

    Forward Looking Statements

    This press release contains "forward-looking statements" for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995, including but not limited to the statements regarding Fusion Pharmaceuticals Inc.'s (the "Company") future business and financial performance. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "expect," "plans," "anticipates," "intends," "will," and similar expressions are also intended to identify forward-looking statements, as are expressed or implied statements with respect to the Company's potential drug candidates, including any expressed or implied statements regarding the successful development of novel Targeted Alpha Therapies or combination therapies for the treatment of various cancers; the likelihood and success of any future clinical trials involving FPI-1434 or any novel Targeted Alpha Therapies or combination therapies for the treatment of various cancers other drug candidates; and the expected benefits of the collaboration agreement with AstraZeneca. Actual results may differ materially from those indicated by such forward-looking statements as a result of risks and uncertainties, including but not limited to the following: there can be no guarantees that the Company will advance any clinical product candidate or other component of its potential pipeline to the clinic, to the regulatory process or to commercialization; management's expectations could be affected by unexpected regulatory actions or delays; uncertainties relating to, or unsuccessful results of, clinical trials, including additional data relating to the ongoing clinical trials evaluating its product candidates; the Company's ability to obtain additional funding required to conduct its research, development and commercialization activities; changes in the Company's business plan or objectives; the ability of the Company to attract and retain qualified personnel; competition in general; and the Company's ability to obtain, maintain and enforce patent and other intellectual property protection for its product candidates and its discoveries. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These and other risks which may impact management's expectations are described in greater detail under the heading "Risk Factors" in the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2020 as filed with the SEC and in any subsequent periodic or current report that the Company files with the SEC.  All forward-looking statements reflect the Company's estimates only as of the date of this release (unless another date is indicated) and should not be relied upon as reflecting the Company's views, expectations or beliefs at any date subsequent to the date of this release. While Fusion may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if the Company's estimates change.

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  5. HAMILTON, ON and BOSTON, Sept. 29, 2020 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced the appointment of Maria Stahl as chief legal officer.

    "Maria brings to Fusion a breadth of legal and operational experience within the biopharmaceutical industry which will be invaluable during this pivotal phase of our company's growth," said Chief Executive Officer John Valliant, Ph.D. "Maria will provide important strategic guidance and legal counsel as we advance our lead candidate and seek to expand our development pipeline. We are excited to welcome her to Fusion's leadership team."  

    Prior to joining Fusion, Ms. Stahl held executive leadership roles at Tetraphase Pharmaceuticals, including chief business officer and general counsel. Before joining Tetraphase, Ms. Stahl was the senior vice president, general counsel of Idenix Pharmaceuticals. Ms. Stahl began her career with the law firm Wilmer Cutler Pickering Hale and Dorr LLP. Ms. Stahl holds a bachelor of arts from Providence College and a juris doctorate from Yale Law School.

    "Fusion has an opportunity to capitalize on a platform technology and deep radiopharmaceutical expertise during a time of significant momentum in the space," said Ms. Stahl. "I am excited to join the team and look forward to working towards our goal to deliver novel cancer therapies to patients."

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Employing a proprietary Fast-Clear linker technology, Fusion connects alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion's lead program, FPI-1434, is currently in a Phase 1 clinical trial.

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/fusion-pharmaceuticals-appoints-maria-stahl-as-chief-legal-officer-301140310.html

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