JNCE Jounce Therapeutics Inc.

9.85
+0.36  (+4%)
Previous Close 9.49
Open 10.11
52 Week Low 2.79
52 Week High 11.7201
Market Cap $337,013,987
Shares 34,214,618
Float 17,253,034
Enterprise Value $215,869,724
Volume 1,361,344
Av. Daily Volume 1,408,316
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Upcoming Catalysts

Drug Stage Catalyst Date
Vopratelimab and Ipilimumab - EMERGE
Non-small cell lung cancer and bladder cancer
Phase 2
Phase 2
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Vopratelimab and JTX-4014 - SELECT
Second-line non-small cell lung cancer (NSCLC) patients
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
Vopratelimab JTX-2011
Solid tumors - Cancer
Phase 1/2
Phase 1/2
Phase 1/2 data to be presented at ASCO-SITC Clinical Immuno-Oncology Symposium Annual Meeting on February 6, 2020.
JTX-8064
Phase 1
Phase 1
Phase 1 trial to be initiated in 2020.

Latest News

  1. CAMBRIDGE, Mass., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that Jounce management will participate in fireside chats at three upcoming investor conferences in September:

    • Baird 2020 Global Healthcare Conference at 12:50 p.m. ET on Wednesday, September 9, 2020.
    • 2020 Wells Fargo Virtual Healthcare Conference at 3:20 p.m. ET on Thursday, September 10, 2020.
    • H.C. Wainwright 22nd Annual Healthcare Conference at 3:00 p.m. ET on Monday, September 14, 2020.

    A live webcast of each presentation will be available by visiting "Events & Presentations" in the Investors and Media section…

    CAMBRIDGE, Mass., Sept. 02, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that Jounce management will participate in fireside chats at three upcoming investor conferences in September:

    • Baird 2020 Global Healthcare Conference at 12:50 p.m. ET on Wednesday, September 9, 2020.
    • 2020 Wells Fargo Virtual Healthcare Conference at 3:20 p.m. ET on Thursday, September 10, 2020.
    • H.C. Wainwright 22nd Annual Healthcare Conference at 3:00 p.m. ET on Monday, September 14, 2020.

    A live webcast of each presentation will be available by visiting "Events & Presentations" in the Investors and Media section of the company's website at www.jouncetx.com. A replay of the webcast will be archived for 30 days following the presentation.

    About Jounce Therapeutics:

    Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has multiple development-stage programs ongoing while simultaneously advancing additional early-stage assets from its robust discovery engine based on its Translational Science Platform. Jounce's lead product candidate, vopratelimab, is a monoclonal antibody that binds to and activates ICOS, and is currently being studied in the EMERGE Phase 2 trial. Vopratelimab will also be evaluated in the Phase 2 SELECT trial in combination with Jounce's internal investigational PD-1 inhibitor, JTX-4014, in biomarker selected patients using TISvopra. Jounce's next clinical candidate, JTX-8064, is a LILRB2 (ILT4) receptor antagonist shown to reprogram immune-suppressive tumor associated macrophages to an anti-tumor state. Additionally, Jounce has agreed to exclusively license worldwide rights to JTX-1811, a monoclonal antibody targeting CCR8 and designed to selectively deplete T regulatory cells in the tumor microenvironment, to Gilead Sciences. For more information, please visit www.jouncetx.com.

    Investor and Media Contact:

    Komal Joshi

    Jounce Therapeutics, Inc.

    (857) 320-2523

     

    Primary Logo

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  2.   Gilead Will Have Exclusive Rights to Develop and Commercialize Anti-CCR8 Antibody

    Gilead to Make $85 Million Upfront Payment and $35 Million Equity Investment

    FOSTER CITY, Calif. and CAMBRIDGE, Mass., Sept. 01, 2020 (GLOBE NEWSWIRE) -- Gilead Sciences, Inc. (NASDAQ:GILD) today announced an agreement with Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 program.

    JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The target of JTX-1811 is CCR8, a chemokine receptor enriched on TITR cells. When JTX-1811…

      Gilead Will Have Exclusive Rights to Develop and Commercialize Anti-CCR8 Antibody

    Gilead to Make $85 Million Upfront Payment and $35 Million Equity Investment

    FOSTER CITY, Calif. and CAMBRIDGE, Mass., Sept. 01, 2020 (GLOBE NEWSWIRE) -- Gilead Sciences, Inc. (NASDAQ:GILD) today announced an agreement with Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 program.

    JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The target of JTX-1811 is CCR8, a chemokine receptor enriched on TITR cells. When JTX-1811 binds to CCR8, it targets TITR cells for depletion by enhanced antibody-dependent cellular cytotoxicity mechanism. The antibody remains on track for filing an Investigational New Drug (IND) application in the first half of 2021.

    "We are very pleased to add, upon closing of the transaction, JTX-1811 to our pipeline of investigational immuno-oncology therapies that have the potential to transform care for patients with cancer," said William A. Lee, PhD, Executive Vice President of Research at Gilead Sciences. "JTX-1811 is complementary to our other oncology candidates and has the potential to be first in a new class of therapies as a treatment for people with both solid tumors and hematological malignancies."

    "Gilead's investment in Jounce and, specifically, JTX-1811 reinforces the value of our Translational Science Platform and differentiated and sustainable approach to novel immuno-oncology programs, focused on patients with cancer who have yet to benefit from immunotherapy. We look forward to seeing JTX-1811 progress to the clinic," said Richard Murray, PhD, Chief Executive Officer and President of Jounce Therapeutics. "Our mission to deliver the right immunotherapy to the right patient population for meaningful and long-lasting benefit remains at the core of our discovery and clinical development work. Our JTX-1811 program is a prime example of these efforts."  

    Terms of the Agreement

    Under the terms of the agreement, Gilead will make a $85 million upfront payment to, and a $35 million equity investment at a premium in, Jounce upon closing. In addition, Jounce may receive up to an additional $685 million in future clinical, regulatory and commercial milestone payments. Jounce will also be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales, subject to certain adjustments.

    Jounce will lead development of JTX-1811 through IND clearance, and thereafter, Gilead will have the sole right to develop JTX-1811. JTX-1811 is not approved anywhere globally. Its efficacy and safety have not been established.

    This transaction, which is expected to close in the second half of 2020, is subject to applicable antitrust clearance under the Hart-Scott Rodino Antitrust Improvements Act and other customary closing conditions.

    About Jounce Therapeutics

    Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has four development-stage programs. Vopratelimab is a monoclonal antibody that binds to and activates ICOS, and is currently being studied in the EMERGE Phase 2 trial and Jounce plans to initiate an additional Phase 2 predictive biomarker trial using TISvopra for patient selection, SELECT. JTX-4014 is a PD-1 inhibitor intended for combination use within the SELECT study and with Jounce's broader pipeline. JTX-8064 is a LILRB2 (ILT4) receptor antagonist that may reprogram immune-suppressive tumor associated macrophages to an anti-tumor state. Jounce expects JTX-8064 to enter the clinic in 2020. JTX-1811 is a monoclonal antibody targeting CCR8 which is designed to selectively deplete T regulatory cells in the tumor microenvironment. For more information, please visit www.jouncetx.com.

    About Gilead Sciences

    Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California. For more information on Gilead Sciences, please visit the company's website at www.gilead.com.

    Jounce Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of the parties to close this transaction in a timely manner or at all, the development of JTX-1811 and the expected benefits of this transaction. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, the ability to obtain regulatory approval for the transaction, and inherent uncertainties associated with pharmaceutical product development and commercialization. Risks and uncertainties facing Jounce are described more fully in Jounce's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as discussions of potential risks, uncertainties, and other important factors in Jounce's subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Jounce undertakes no obligation to update or revise publicly any forward-looking statements contained in this press release.

    Gilead Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of the parties to close this transaction in a timely manner or at all, the ability of the parties to meet potential milestones in the estimated timelines or at all and the risk that the parties may not realize the expected benefits of this collaboration. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.

    Gilead Contacts:                                                                                                      

    Douglas Maffei, PhD, Investors

    (650) 522-2739

    Marni Kottle, Media

    (650) 522-5388

    Jounce Contact:

    Komal Joshi, Investors and Media

    (857) 320-2523

    Primary Logo

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  3. Gilead Will Have Exclusive Rights to Develop and Commercialize Anti-CCR8 Antibody

    Gilead to Make $85 Million Upfront Payment and $35 Million Equity Investment

    Gilead Sciences, Inc. (NASDAQ:GILD) today announced an agreement with Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 program.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200901005463/en/

    JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The target of JTX-1811 is CCR8, a chemokine…

    Gilead Will Have Exclusive Rights to Develop and Commercialize Anti-CCR8 Antibody

    Gilead to Make $85 Million Upfront Payment and $35 Million Equity Investment

    Gilead Sciences, Inc. (NASDAQ:GILD) today announced an agreement with Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, to exclusively license its JTX-1811 program.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200901005463/en/

    JTX-1811 is a monoclonal antibody designed to selectively deplete immunosuppressive tumor-infiltrating T regulatory (TITR) cells. The target of JTX-1811 is CCR8, a chemokine receptor enriched on TITR cells. When JTX-1811 binds to CCR8, it targets TITR cells for depletion by enhanced antibody-dependent cellular cytotoxicity mechanism. The antibody remains on track for filing an Investigational New Drug (IND) application in the first half of 2021.

    "We are very pleased to add, upon closing of the transaction, JTX-1811 to our pipeline of investigational immuno-oncology therapies that have the potential to transform care for patients with cancer," said William A. Lee, PhD, Executive Vice President of Research at Gilead Sciences. "JTX-1811 is complementary to our other oncology candidates and has the potential to be first in a new class of therapies as a treatment for people with both solid tumors and hematological malignancies."

    "Gilead's investment in Jounce and, specifically, JTX-1811 reinforces the value of our Translational Science Platform and differentiated and sustainable approach to novel immuno-oncology programs, focused on patients with cancer who have yet to benefit from immunotherapy. We look forward to seeing JTX-1811 progress to the clinic," said Richard Murray, PhD, Chief Executive Officer and President of Jounce Therapeutics. "Our mission to deliver the right immunotherapy to the right patient population for meaningful and long-lasting benefit remains at the core of our discovery and clinical development work. Our JTX-1811 program is a prime example of these efforts."

    Terms of the Agreement

    Under the terms of the agreement, Gilead will make a $85 million upfront payment to, and a $35 million equity investment at a premium in, Jounce upon closing. In addition, Jounce may receive up to an additional $685 million in future clinical, regulatory and commercial milestone payments. Jounce will also be eligible to receive royalties ranging from high single digit to mid-teens based upon worldwide sales, subject to certain adjustments.

    Jounce will lead development of JTX-1811 through IND clearance, and thereafter, Gilead will have the sole right to develop JTX-1811. JTX-1811 is not approved anywhere globally. Its efficacy and safety have not been established.

    This transaction, which is expected to close in the second half of 2020, is subject to applicable antitrust clearance under the Hart-Scott Rodino Antitrust Improvements Act and other customary closing conditions.

    About Jounce Therapeutics

    Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has four development-stage programs. Vopratelimab is a monoclonal antibody that binds to and activates ICOS, and is currently being studied in the EMERGE Phase 2 trial and Jounce plans to initiate an additional Phase 2 predictive biomarker trial using TISvopra for patient selection, SELECT. JTX-4014 is a PD-1 inhibitor intended for combination use within the SELECT study and with Jounce's broader pipeline. JTX-8064 is a LILRB2 (ILT4) receptor antagonist that may reprogram immune-suppressive tumor associated macrophages to an anti-tumor state. Jounce expects JTX-8064 to enter the clinic in 2020. JTX-1811 is a monoclonal antibody targeting CCR8 which is designed to selectively deplete T regulatory cells in the tumor microenvironment. For more information, please visit www.jouncetx.com.

    About Gilead Sciences

    Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people with life-threatening illnesses around the world. Gilead has operations in more than 35 countries worldwide, with headquarters in Foster City, California. For more information on Gilead Sciences, please visit the company's website at www.gilead.com.

    Jounce Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of the parties to close this transaction in a timely manner or at all, the development of JTX-1811 and the expected benefits of this transaction. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, the ability to obtain regulatory approval for the transaction, and inherent uncertainties associated with pharmaceutical product development and commercialization. Risks and uncertainties facing Jounce are described more fully in Jounce's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as discussions of potential risks, uncertainties, and other important factors in Jounce's subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Jounce undertakes no obligation to update or revise publicly any forward-looking statements contained in this press release.

    Gilead Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the ability of the parties to close this transaction in a timely manner or at all, the ability of the parties to meet potential milestones in the estimated timelines or at all and the risk that the parties may not realize the expected benefits of this collaboration. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Gilead's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.

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  4. - Completed enrollment of Phase 2 EMERGE trial for the interim analysis of efficacy and biomarker data in early 2021 -

    - On track to initiate Phase 2 SELECT trial and Phase 1 trial for JTX-8064 in 2020 -

    - Ended the quarter with $127.2 million in cash, cash equivalents and investments -

    - Company to host conference call and webcast today at 8:00 AM ET -

    CAMBRIDGE, Mass., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today reported financial results for the second quarter ended June 30, 2020 and provided a corporate update.

    "We made great strides in the second quarter and this year as…

    - Completed enrollment of Phase 2 EMERGE trial for the interim analysis of efficacy and biomarker data in early 2021 -

    - On track to initiate Phase 2 SELECT trial and Phase 1 trial for JTX-8064 in 2020 -

    - Ended the quarter with $127.2 million in cash, cash equivalents and investments -

    - Company to host conference call and webcast today at 8:00 AM ET -

    CAMBRIDGE, Mass., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today reported financial results for the second quarter ended June 30, 2020 and provided a corporate update.

    "We made great strides in the second quarter and this year as a whole has proven to be a time of execution and important foundational work in advance of important future milestones. Of note, we completed EMERGE enrollment to support the interim analysis despite the challenges of the COVID-19 pandemic, and are on track for the interim analysis of efficacy and biomarker data in early 2021. We also expect to initiate enrollment this year of the Phase 1 trial for JTX-8064, an inhibitor of the LILRB2 receptor (or ILT4) on macrophages," said Richard Murray, Ph.D., chief executive officer and president of Jounce Therapeutics. "We continue to build a leading immuno-oncology company, focusing on the importance of deeply rooted science, translational analyses and well-informed clinical trial design. We look forward to continuing to execute on our milestones as we progress our broad pipeline of clinical and preclinical programs to bring the right immunotherapies to the right patients."

    Pipeline Update:

    Clinical Programs: Vopratelimab and JTX-4014

    • Completed enrollment to support interim analysis of Phase 2 EMERGE trial: Enrollment of patients with non-small cell lung cancer (NSCLC) who have progressed on or after both a platinum-based regimen and a PD-1 or PD-L1 inhibitor to support the interim analysis of the Phase 2 EMERGE trial is complete. Jounce is on track to complete this analysis of preliminary efficacy and biomarker data on more than 40 evaluable patients at different doses in early 2021.



    • Phase 2 SELECT trial initiation on track: Jounce remains on track to initiate the randomized Phase 2 SELECT trial to evaluate vopratelimab in combination with JTX-4014, a PD-1 inhibitor, versus JTX-4014 alone in immunotherapy naïve TISvopra biomarker selected, second line NSCLC patients. Jounce expects to enroll approximately 75 patients outside the U.S. and expects to report clinical data in 2021.



    • Presented vopratelimab translational data at the American Association for Cancer Research (AACR): In June 2020, Jounce presented new translational data on vopratelimab at the AACR Virtual Annual Meeting detailing important characteristics of ICOS hi CD4 T cells associated with vopratelimab treatment that may contribute to durable clinical responses in monotherapy and combination. The ICOS hi CD4 T cell population within peripheral blood of ICONIC responders is comprised of Th1, T central memory (Tcm) and T follicular helper (Tfh) subsets, which may contribute to direct anti-tumor effects as well as durability of clinical responses. Jounce has found that the generation of these functionally specialized subsets of CD4 cells does not occur with PD-1 inhibitors. The T cell central memory cells are consistent with a role for vopratelimab in durable clinical benefit.

    Preclinical Development Programs: JTX-8064 and JTX-1811

    • Regained worldwide rights to JTX-8064 and on track to initiate Phase 1 clinical trial: In June 2020, Jounce announced that it regained the worldwide rights to JTX-8064 from Bristol Myers Squibb. JTX-8064 is a highly-selective, potential first-in-class antibody that targets the Leukocyte Immunoglobulin Like Receptor B2 (LILRB2 or ILT4) on macrophages, and was previously licensed to Celgene in July 2019. As part of its Celgene integration process, Bristol Myers Squibb has streamlined its pipeline and addressed areas of overlap. As a result, Bristol Myers Squibb notified Jounce that the JTX-8064 License Agreement was being terminated. JTX-8064 is the first tumor-associated macrophage candidate to emerge from Jounce's Translational Science Platform. When LILRB2 (ILT4) binds to HLA molecules, including HLA-G, on cancer cells and macrophages, it induces an immunosuppressive state in the macrophages. JTX-8064 inhibits this immunosuppressive interaction, reprogramming the macrophages to a more immuno-stimulatory state. Jounce expects to begin enrollment in the Phase 1 dose escalation trial of JTX-8064 in 2020.



    • Presented new JTX-1811 preclinical data at AACR: In June 2020, Jounce introduced its JTX-1811 program at the AACR Virtual Annual Meeting with preclinical data demonstrating that by selectively eliminating tumor infiltrating T regulatory cells (T regs), Jounce believes it can eliminate the immunosuppressive effect of these cells. Importantly, this biology may be independent of PD-1. In mouse tumor models, targeting and eliminating CCR8 positive T regs in the tumor showed single agent activity for JTX-1811 where PD-1 inhibitors did not, and showed an ability to restore PD-1 inhibitor responsiveness. Evaluation of T regs in human tumors versus blood showed the enriched expression of CCR8, allowing the establishment of an optimal window for depletion of T regs in the tumor. Jounce plans to continue IND-enabling activities for JTX-1811 and remains on track to file an Investigational New Drug, or IND, in the first half of 2021.

    Second Quarter 2020 Financial Results:

    • Cash position: As of June 30, 2020, cash, cash equivalents and investments were $127.2 million, compared to $170.4 million as of December 31, 2019. The decrease in cash, cash equivalents and investments was primarily due to operating expenses incurred during the period.



    • License and collaboration revenue: Jounce did not recognize any revenue in the second quarter of 2020. License and collaboration revenue recognized during the second quarter of 2019 was comprised solely of non-cash revenue recognition related to the original strategic collaboration with Celgene which ended in July 2019.



    • Research and development expenses: Research and development expenses were $21.0 million for the second quarter of 2020, compared to $18.1 million for the same period in 2019. The increase in research and development expenses was primarily due to increased external clinical and regulatory costs associated with the EMERGE and SELECT clinical trials and increased employee compensation costs, partially offset by decreased IND-enabling expenses.



    • General and administrative expenses: General and administrative expenses were $7.2 million for the second quarter of 2020, compared to $7.3 million for the same period in 2019. The decrease in general and administrative expenses was primarily due to decreased professional service fees.



    • Net loss: Net loss was $28.0 million for the second quarter of 2020, resulting in basic and diluted net loss per share of $0.82. Net loss was $7.0 million for the same period in 2019, resulting in a basic and diluted net loss per share of $0.21. The increase in net loss and net loss per share was primarily attributable to a decrease in license and collaboration revenue and an increase in operating expenses.

    Financial Guidance:

    Based on its current operating and development plans, Jounce continues to expect gross cash burn on operating expenses and capital expenditures for the full year 2020 to be approximately $80.0 million to $95.0 million.

    Jounce expects its existing cash, cash equivalents and investments to be sufficient to enable the funding of its operating expenses and capital expenditure requirements through the end of 2021.

    Conference Call and Webcast Information:

    Jounce Therapeutics will host a live conference call and webcast today at 8:00 a.m. ET. To access the conference call, please dial (866) 916-3380 (domestic) or (210) 874-7772 (international) and refer to conference ID 3898328. The live webcast can be accessed under "Events & Presentations" in the Investors and Media section of Jounce's website at www.jouncetx.com. The webcast will be archived and made available for replay on Jounce's website approximately two hours after the call and will be available for 30 days.

    About Jounce Therapeutics:

    Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has four development-stage programs, two of which are clinical-stage: vopratelimab, a monoclonal antibody that binds to and activates ICOS, and JTX-4014, a PD-1 inhibitor intended for combination use with Jounce's broader pipeline. Vopratelimab is currently being assessed in a Phase 2 clinical trial, EMERGE, and Jounce plans to initiate an additional Phase 2 biomarker trial using TISvopra for patient selection, SELECT, to assess vopratelimab in combination with JTX-4014. Jounce's IND-enabling preclinical programs include JTX-8064, a LILRB2 (ILT4) receptor antagonist and JTX-1811, a monoclonal antibody designed to selectively deplete T regulatory cells in the tumor microenvironment. For more information, please visit www.jouncetx.com.

    Cautionary Note Regarding Forward-Looking Statements:

    Various statements in this release concerning Jounce's future expectations, plans and prospects, including without limitation, Jounce's expectations regarding financial guidance, operating expenses and capital expenditures; the timing, initiation, progress, results of and release of data for clinical trials of Jounce's product candidates, including vopratelimab, JTX-4014 and JTX-8064; identification, selection and enrollment of patients for Jounce's clinical trials; the timing of IND filings; and the timing, progress and results of preclinical studies for Jounce's product candidates, including JTX-1811, and any future product candidates may constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward-looking statements, which often include words such as "goal," "expect," "plan," "on track," "will" or similar terms, variations of such terms or the negative of those terms. Although Jounce believes that the expectations reflected in the forward-looking statements are reasonable, Jounce cannot guarantee such outcomes. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, risks that the COVID-19 pandemic may disrupt Jounce's business and/or the global healthcare system more severely than anticipated, which may have the effect of further delaying enrollment and completion of Jounce's ongoing clinical trials, or delaying timelines or data disclosures and regulatory submissions for its product candidates; Jounce's ability to successfully demonstrate the efficacy and safety of its product candidates and future product candidates; the preclinical and clinical results for its product candidates, which may not support further development and marketing approval; the potential advantages of Jounce's product candidates; Jounce's ability to successfully manage its clinical trials; the development plans of its product candidates and any companion or complementary diagnostics; management of Jounce's supply chain for the delivery of drug product and materials for use in clinical trials and research and development activities; actions of regulatory agencies, which may affect the initiation, timing and progress of preclinical studies and clinical trials of Jounce's product candidates; Jounce's ability to obtain, maintain and protect its intellectual property; Jounce's ability to manage operating expenses and capital expenditures; and those risks more fully discussed in the section entitled "Risk Factors" in Jounce's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as discussions of potential risks, uncertainties, and other important factors in Jounce's subsequent filings with the Securities and Exchange Commission. All such statements speak only as of the date made, and Jounce undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

    Jounce Therapeutics, Inc.

    Condensed Consolidated Statements of Operations (unaudited)

    (amounts in thousands, except per share data)

     Three Months Ended

    June 30,
     Six Months Ended

    June 30,
     2020 2019 2020 2019
    Revenue:       
    License and collaboration revenue—related party$—    $17,446    $—    $28,427   
    Operating expenses:       
    Research and development21,023    18,130    40,669    35,410   
    General and administrative7,226    7,323    14,765    14,515   
    Total operating expenses28,249    25,453    55,434    49,925   
    Operating loss(28,249)  (8,007)  (55,434)  (21,498) 
    Other income, net 285    1,026    1,035    2,152   
    Loss before provision for income taxes(27,964)  (6,981)  (54,399)  (19,346) 
    Provision for income taxes   12    12    24   
    Net loss$(27,968)  $(6,993)  $(54,411)  $(19,370) 
    Net loss per share, basic and diluted$(0.82)  $(0.21)  $(1.60)  $(0.59) 
    Weighted-average common shares outstanding, basic and diluted34,053    32,973    34,041    32,966   
            
    Jounce Therapeutics, Inc.

    Selected Condensed Consolidated Balance Sheet Data (unaudited)

    (amounts in thousands)
        
     June 30, December 31,
     2020 2019
    Cash, cash equivalents and investments$127,205    $170,444   
    Working capital$114,975    $159,297   
    Total assets$158,901    $205,882   
    Total stockholders' equity$127,269    $174,593   



    Investor and Media Contact:

    Komal Joshi

    Jounce Therapeutics, Inc.

    (857) 320-2523

     

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  5. CAMBRIDGE, Mass., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that Richard Murray, Ph.D., chief executive officer and president of Jounce Therapeutics,will participate in a fireside chat at the BTIG Virtual Biotechnology Conference 2020 on Tuesday, August 11, 2020 at 2:00 PM ET.

    A live webcast of the presentation will be available by visiting "Events & Presentations" in the Investors and Media section of the company's website at www.jouncetx.com. A replay of the webcast will be archived for 30 days following the presentation.

    About Jounce Therapeutics:

    Jounce Therapeutics…

    CAMBRIDGE, Mass., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ:JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that Richard Murray, Ph.D., chief executive officer and president of Jounce Therapeutics,will participate in a fireside chat at the BTIG Virtual Biotechnology Conference 2020 on Tuesday, August 11, 2020 at 2:00 PM ET.

    A live webcast of the presentation will be available by visiting "Events & Presentations" in the Investors and Media section of the company's website at www.jouncetx.com. A replay of the webcast will be archived for 30 days following the presentation.

    About Jounce Therapeutics:

    Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has four development-stage programs, two of which are clinical-stage: vopratelimab, a monoclonal antibody that binds to and activates ICOS, and JTX-4014, a PD-1 inhibitor intended for combination use with Jounce's broader pipeline. Vopratelimab is currently being assessed in a Phase 2 clinical trial, EMERGE, and Jounce plans to initiate an additional Phase 2 biomarker trial using TISvopra for patient selection, SELECT, to assess vopratelimab in combination with JTX-4014. Jounce's IND-enabling preclinical programs include JTX-8064, a LILRB2 receptor antagonist, and JTX-1811, a monoclonal antibody designed to selectively deplete T regulatory cells in the tumor microenvironment. For more information, please visit www.jouncetx.com.

    Investor Contact:

    Komal Joshi

    Jounce Therapeutics, Inc.

    (857) 320-2523

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