FUSN Fusion Pharmaceuticals Inc.

11.81
+0.1  (+1%)
Previous Close 11.71
Open 11.73
52 Week Low 10.51
52 Week High 19
Market Cap $492,781,663
Shares 41,725,797
Float 41,155,373
Enterprise Value $195,405,308
Volume 29,201
Av. Daily Volume 63,392
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Drug Pipeline

Drug Stage Notes
FPI-1434
Solid tumors
Phase 1
Phase 1
Phase 1 multi-dose portion of trial Initiated - December 10, 2020.

Latest News

  1. Fusion to Leverage its Targeted Alpha Therapies (TAT) Expertise to Create FPI-2059, an Alpha-Emitting Radiopharmaceutical Targeting Solid Tumors

    HAMILTON, ON and BOSTON, March 2, 2021 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced it has entered into an asset purchase agreement (APA) to acquire Ipsen's (Euronext: IPN; ADR; IPSEY) intellectual property and assets related to IPN-1087. IPN-1087 is a small molecule targeting neurotensin receptor 1 (NTSR1), a protein expressed on multiple solid tumor types.  Fusion intends to use IPN-1087 to create an alpha-emitting radiopharmaceutical, FPI-2059, targeting…

    Fusion to Leverage its Targeted Alpha Therapies (TAT) Expertise to Create FPI-2059, an Alpha-Emitting Radiopharmaceutical Targeting Solid Tumors

    HAMILTON, ON and BOSTON, March 2, 2021 /PRNewswire/ -- Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced it has entered into an asset purchase agreement (APA) to acquire Ipsen's (Euronext: IPN; ADR; IPSEY) intellectual property and assets related to IPN-1087. IPN-1087 is a small molecule targeting neurotensin receptor 1 (NTSR1), a protein expressed on multiple solid tumor types.  Fusion intends to use IPN-1087 to create an alpha-emitting radiopharmaceutical, FPI-2059, targeting solid tumors expressing NTSR1. 

    "The acquisition of IPN-1087 augments and further diversifies our pipeline of potent alpha-emitting radiopharmaceuticals and leverages our expertise to create targeted alpha therapies (TATs) using different classes of targeting molecules," said Chief Executive Officer John Valliant, Ph.D. "In clinical imaging studies, IPN-1087, which targets an established tumor target, has shown uptake in multiple tumor types. Combining IPN-1087 with the power of actinium-225, an alpha-emitter, we believe FPI-2059 will precisely target and kill tumor cells, leading to a significant opportunity to advance the treatment of high unmet need diseases, such as colorectal cancer and pancreatic ductal adenocarcinoma (PDAC)."

    Under the terms of the APA, Fusion will issue to Ipsen 400,000 shares of its common stock upon closing and an additional 200,000 shares upon the achievement of a patent-related milestone. Such shares will be issued pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended. Fusion will also be obligated to pay Ipsen up to an additional €67.5 million upon the achievement of certain development and regulatory milestones; low single-digit royalties on potential future net sales; and up to €350.0 million in net sales milestones, in each case, relating to products covered by the APA. Fusion will be responsible for paying to a third-party licensor up to €70.0 million in development milestone payments and mid-single to low-double-digit royalties on potential future net sales of products covered by the license agreement.

    Covington & Burling and Goodwin Proctor represented Fusion as legal advisors in the transaction. Barclays represented Ipsen as exclusive financial advisor and Hogan Lovells acted as Ipsen's legal advisor.

    About FPI-2059

    FPI-2059 will be a radioconjugate combining actinium-225 with IPN-1087, for development as a targeted alpha therapy for various solid tumors. The molecule targets NTSR1, a promising target for cancer treatment, that is overexpressed in multiple solid tumors.  IPN-1087 was in Phase 1 clinical development as a lutetium-177-based radiopharmaceutical for pancreatic ductal adenocarcinoma, colorectal cancer and gastric cancers expressing NTSR1.

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. 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. The Company is advancing a pipeline of targeted radiopharmaceutical cancer therapies for a broad array of tumor types based upon its proprietary platform technology.

    About Ipsen

    Ipsen is a global mid-size biopharmaceutical company with a focus on transformative medicines in Oncology, Rare Disease and Neuroscience. Ipsen also has a well-established Consumer Healthcare business. With total sales over €2.5 billion in 2020, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen's R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US; Shanghai, China). The Group has about 5,700 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (OTC:IPSEY). For more information on Ipsen, visit www.ipsen.com.fr

    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 FPI-2059; the likelihood and success of any future clinical trials involving FPI-2059 or any novel Targeted Alpha Therapies; and the expected benefits of the acquisition of IPN-1087. 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 September 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.

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/fusion-pharmaceuticals-to-expand-pipeline-with-acquisition-of-ipn-1087-a-small-molecule-targeting-ntsr1-from-ipsen-301238277.html

    SOURCE Fusion Pharmaceuticals Inc.

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  2. HAMILTON, ON and BOSTON, Feb. 23, 2021 /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 the "Novel Oncology Targets" panel discussion at the Cowen 41st Annual Health Care Conference on Monday, March 1, 2021 at 1:20pm EST. Presenting on behalf of Fusion will be Chief Executive Officer John Valliant, Ph.D.

    About Fusion

    Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. 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. The Company is advancing a pipeline of targeted radiopharmaceutical cancer therapies for a broad array of tumor types based upon its proprietary platform technology.

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/fusion-pharmaceuticals-to-present-at-the-cowen-41st-annual-health-care-conference-301233848.html

    SOURCE Fusion Pharmaceuticals Inc.

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  3. HAMILTON, Ontario and BOSTON, Feb. 11, 2021 /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 Philina Lee, Ph.D., as a member of the Company's Board of Directors. Dr. Lee, who currently serves as senior vice president, head of portfolio strategy at Blueprint Medicines Corporation, brings to the board 15 years of experience in the biopharmaceutical industry. She previously was head of U.S. marketing for Algeta, developer of the first marketed alpha-emitting radiopharmaceutical.

    "Philina's depth of both precision oncology and radiopharmaceutical industry experience will be valuable to us as we continue to progress our Targeted Alpha Therapies (TAT) platform and grow our pipeline of clinical candidates," said Fusion Chief Executive Officer John Valliant, Ph.D. "Additionally, her leadership and understanding relating to the commercial launch of an alpha therapy product will provide Fusion with important organizational, strategic and operational guidance during this growth period." 

    Dr. Lee joined Blueprint Medicines in 2014 and has served in positions of increasing responsibility, including leading new product strategy, establishing the commercial organization, building infrastructure to enable patient access, and leading multiple new product launches. In her current role she is responsible for providing strategic and operational leadership across the portfolio, leading the portfolio management team as well as the program leadership and program management functions.

    Prior to joining Blueprint Medicines, Dr. Lee served as head of U.S. marketing at Algeta ASA, where she was the second hire in the U.S. In this role, she contributed to building the fully-integrated organization that successfully launched Xofigo® (radium-223 dichloride), a first-in-class alpha-emitting radiopharmaceutical. Algeta was acquired by Bayer AG in 2014.

    Dr. Lee holds a Ph.D. from the Massachusetts Institute of Technology and a B.S. from the University of Alberta.

    "I see significant potential to use Fusion's Targeted Alpha Therapies (TAT) platform to build a strong portfolio of precision medicines," said Dr. Lee. "I'm excited to join the board, as I share the Fusion team's passion for improving the lives of cancer patients. I look forward to contributing to Fusion's strategic planning and growth."

    The number of seats on the Fusion Board of Directors was increased to eight from seven immediately prior to Dr. Lee's election.

    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-philina-lee-phd-to-board-of-directors-301226902.html

    SOURCE Fusion Pharmaceuticals Inc.

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  4. TORONTO, Jan. 5, 2021 /CNW/ - While the US initial public offering (IPO) and special purpose acquisition corporation (SPAC) market experienced an unprecedent boom in 2020, Canadian IPO market continued to struggle with mixed results.

    77 IPOs including capital pool companies (CPCs) and SPACs were completed in 2020 on four Canadian stock exchanges, raising $5.55 billion in aggregate gross proceeds, or excluding CPCs and SPACs, 43 IPOs for $4.85 billion.

    The 2020 IPO numbers represent a decrease of 29% in total number of IPOs and an increase of 116% in total amount or, excluding CPC/SPAC IPOs, a decrease of 7% in total IPO number and an increase of 605% in total amount from 2019.

    Excluding CPC/SPAC IPOs, CSE continues to lead all Canadian exchanges with 25 IPOs (58%), comparing to 31 IPOs (67%) in 2019. 

    Mining issuers led all sectors with 23 IPOs for $324 million, accounting for 53% and 7% of the total number of Non-CPC/SPAC IPOs and total amount respectively.

    4 Private Equity (PE) and 2 Venture Capital (VC) backed IPOs dominated the total amount, raising $3,395 million and $144 million respectively, or $3,539 million in aggregate, representing 64% of total IPO amount or 73% of total Non-CPC/SPAC IPO amount.

    2020 IPO Breakdown by Exchanges (Non-CPC/SPAC)

    • CSE – 25 IPOs for $43 million (25 IPOs for $43 million)
    • TSX – 11 IPO for $4,726 million (10 IPOs for $4,460 million)
    • TSX Venture Exchange – 39 IPOs for $364 million (8 IPOs for $350 million)
    • NEO – 2 IPOs for $421 million (nil)

    2020 Canadian IPOs League Table – Top 8 Law Firms (by # IPOs only)

    All IPO Ranking (#, $total IPO value)

    1. Miller Thomson LLP (13, $17M)
    2. Blake, Cassels & Graydon LLP (11, $1,549M)
    3. DuMoulin Black LLP (8, $17M)
    4. Cassels Brock & Blackwell LLP (7, $38M)
    5. Harper Grey LLP (7, $10M)
    6. MLT Aikins LLP (7, $5M)
    7. Peterson McVicar LLP (7, $2M)
    8. Borden Ladner Gervais LLP (6, $12M)

    Non-CPC/SPAC IPO Ranking (#, $total IPO value)

    1. Blake, Cassels & Graydon LLP (8, $861M)
    2. Miller Thomson LLP (7, $16M)
    3. Stikeman Elliott LLP (5, $2,165M)
    4. DuMoulin Black LLP (5, $16M)
    5. Harper Grey LLP (5, $10M)
    6. Cassels Brock & Blackwell LLP (4, $37M)
    7. Vantage Law Corporation (4, $6M)
    8. Lotz & Company (4, $2M)

    2020 Canadian IPOs League Table – Top 13 Underwriters (by # IPOs Only)

    All IPO Ranking (#, $total IPO value)

    1. Canaccord Genuity Corp. (26, $2,535M)
    2. Haywood Securities Inc. (24, $ 25M)
    3. BMO Nesbitt Burns Inc. (12, $ 4,651M)
    4. Scotia Capital Inc. (9, $4,349M)
    5. CIBC World Markets Inc. (8, $4,372M)
    6. Leede Jones Gable Inc. (8, $12M)
    7. Raymond James Ltd. (7, $4,053M)
    8. TD Securities Inc. (7, $4,045M)
    9. National Bank Financial Inc. (7, $4,039M)
    10. Industrial Alliance Securities Inc. (7, $1,017M)
    11. Mackie Research Capital Corporation (7, $9M)
    12. RBC Dominion Securities Inc. (6, $4,006M)
    13. Stifel Nicolaus Canada Inc. (6, $3,623M)

    Non-CPC/SPAC IPO Ranking (#, $total IPO value)

    1. Canaccord Genuity Corp. (17, $1,846M)
    2. BMO Nesbitt Burns Inc. (12, $4,651M)
    3. Haywood Securities Inc. (9, $20M)
    4. Scotia Capital Inc. (9, $4,349M)
    5. CIBC World Markets Inc. (8, $4,372M)
    6. Raymond James Ltd. (7, $4,053M)
    7. TD Securities Inc. (7, $4,045M)
    8. National Bank Financial Inc. (7, $4,039M)
    9. RBC Dominion Securities Inc. (6, $4,006M)
    10. Stifel Nicolaus Canada Inc. (6, $3,623M)
    11. Leede Jones Gable Inc. (6, $12M)
    12. Mackie Research Capital Corporation (6, $8M)
    13. Desjardins Securities Inc.  (5, $952M)

    2020 Top Five Canadian IPOs (Canadian and foreign exchanges)

    Three of top five Canadian IPOs were done on the NASDAQ Exchange. The Top Five are backed either by private equity or venture capital firms.

    Issuer

    Backed

    Close Date

    $ Raised (Mil)

    Exchange(s)

    Valuation* ($Mil)

    GFL Environmental Inc.

    PE

    2020-03-05

    $1,425 (US)

    TSX/NYSE: GFL

    $6,416 (US)

    Nuvei Corporation

    PE

    2020-09-22

    $805 (US)

    TSX: NVEI

    $3,390 (US)

    AbCellera Biologics Inc.

    VC

    2020-12-15

    $555 (US)

    NASDAQ: ABCL

    $5,384 (US)

    Repare Therapeutics Inc.

    VC

    2020-06-23

    $253 (US)

    NASDAD: RPTX

    $700 (US)

    Fusion Pharmaceuticals Inc.

    VC

    2020-06-30

    $213 (US)

    NASDAQ: FUSN

    $708 (US)

    Report Summary

    2020 Canadian IPO Report Summary can be downloaded from financings.ca https://www.financings.ca/reports/

    About CPE Analytics

    CPE Analytics, through financings.ca, is Canada's all public and private financing data provider. We offer comprehensive data coverage and analysis on private capital and public financings, IPOs, M&As and VC/PE fundraising. More information:  https://cpeanalytics.ca

    CPE Analytics is a division of CPE Media Inc., Canada's all financing news and data provider.

    SOURCE CPE Media Inc.

    Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/05/c5740.html

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  5. VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) -- TRIUMF, Canada's particle accelerator centre, today announced it has entered into a collaboration agreement with Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Under the agreement, Fusion will provide a financial investment enabling TRIUMF to upgrade its actinium-225 production infrastructure, and in return will receive preferred access to actinium-225, a rare medical isotope that shows great promise in new, cutting-edge cancer therapies.

    An alpha-emitting isotope with a short half-life, actinium-225 can be combined with a molecular agent that specifically targets cancer…

    VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) -- TRIUMF, Canada's particle accelerator centre, today announced it has entered into a collaboration agreement with Fusion Pharmaceuticals Inc. (NASDAQ:FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Under the agreement, Fusion will provide a financial investment enabling TRIUMF to upgrade its actinium-225 production infrastructure, and in return will receive preferred access to actinium-225, a rare medical isotope that shows great promise in new, cutting-edge cancer therapies.

    An alpha-emitting isotope with a short half-life, actinium-225 can be combined with a molecular agent that specifically targets cancer cells, seeking out and destroying the cancer while leaving the surrounding tissue unharmed. The new collaboration will enable TRIUMF to significantly increase its production and delivery of actinium-225.

    "Today's announcement marks an important step in positioning Canada to play a leading role in the development and deployment of next-generation radiotherapies, and in ensuring that researchers and patients around the world have a stable supply of life-saving medical isotopes," said Dr. Jonathan Bagger, Director of TRIUMF. "Enabled by decades of public investment in TRIUMF's infrastructure and research programs, this collaboration recognizes the laboratory's capacity to drive innovation, moving this promising treatment closer to market."

    "Given Fusion's opportunity to expand our pipeline of actinium-based Targeted Alpha Therapies (TATs), and the importance of isotope production in the supply chain of radiopharmaceuticals, we will continue to proactively address and prioritize actinium supply in our strategic plans," said Dr. John Valliant, Chief Executive Officer of Fusion. "We are excited to collaborate with TRIUMF, a leader in isotope production, as part of these plans."

    "With its Targeted Alpha Therapy platform technology, Fusion has an opportunity to impact the cancer treatment landscape," said Kathryn Hayashi, Chief Executive Officer of TRIUMF Innovations. "Through this collaboration agreement, we are partnering with a premier developer of innovative radiotherapies to deepen TRIUMF's leadership position in isotope production to help save the lives of patients in Canada and around the world".

    Read more about the announcement here.

    About TRIUMF

    TRIUMF is Canada's particle accelerator centre. The lab is a hub for discovery and innovation, inspired by a half-century of ingenuity in answering some of nature's most challenging questions. From the hunt for the smallest particles in the universe to the development of new technologies, TRIUMF is pushing frontiers in research, while training the next generation of leaders in science, medicine, and business. Learn more about TRIUMF's work to produce more actinium-225 here.

    Discover more at www.triumf.ca and connect on Facebook, Twitter, and Instagram: @TRIUMFLab.

    About TRIUMF Innovations

    TRIUMF Innovations Inc. is TRIUMF's business interface and commercialization arm, connecting Canada's particle accelerator centre to the private sector via industry partnerships, licensing, and company creation. TRIUMF Innovations provides pathways for businesses to access the expertise and infrastructure at TRIUMF and across the TRIUMF network.

    Learn more at www.triumfinnovations.ca and connect on Twitter at @TRIUMFInno.

    Media Contact:

    Kamran Shaikh

    PR Associates

    7788465406



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