SBTX Silverback Therapeutics Inc.

30.28
-0.76  -2%
Previous Close 31.04
Open 30.75
52 Week Low 23.69
52 Week High 63.41
Market Cap $1,056,938,873
Shares 34,905,511
Float 17,525,271
Enterprise Value $712,739,061
Volume 49,381
Av. Daily Volume 131,730
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Upcoming Catalysts

Drug Stage Catalyst Date
SBT6050
HER2 Positive Solid Tumors
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
SBT6290
Hepatitis B
Phase 1
Phase 1
Phase 1/1b trial to be initiated in 1Q 2022.

Latest News

  1. Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced a clinical supply agreement with Regeneron for Libtayo® (cemiplimab). The supply agreement supports the evaluation of Libtayo®, a PD-1 inhibitor, in combination with SBT6050, the first of a new class of targeted immuno-oncology agents designed to direct a TLR8 agonist linker-payload to activate myeloid cells in tumors expressing moderate to high levels of HER2.

    "SBT6050's unique ability to activate both innate and adaptive…

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced a clinical supply agreement with Regeneron for Libtayo® (cemiplimab). The supply agreement supports the evaluation of Libtayo®, a PD-1 inhibitor, in combination with SBT6050, the first of a new class of targeted immuno-oncology agents designed to direct a TLR8 agonist linker-payload to activate myeloid cells in tumors expressing moderate to high levels of HER2.

    "SBT6050's unique ability to activate both innate and adaptive immune responses has the potential to enhance and expand the effectiveness of a PD-1 inhibitor in HER2-expressing solid tumors," said Naomi Hunder, M.D., Chief Medical Officer of Silverback. "We are eager to complete the ongoing dose escalation of SBT6050 combined with a PD-1 inhibitor, and look forward to working with Regeneron as we begin tumor-specific expansion cohorts."

    In the first quarter of 2021, Silverback initiated treatment in Part 3 of the Phase 1/1b study to evaluate the activity of SBT6050 in combination with a PD-1 inhibitor in dose escalation. Under the terms of the agreement, Silverback will expand the ongoing Phase 1/1b trial to evaluate the combination of SBT6050 and Libtayo® in tumor-specific dose expansion cohorts, initially in HER2-expressing non small cell lung cancer ("NSCLC") and gastric cancer.

    Libtayo® is a PD-1 blocking antibody being jointly developed and commercialized by Regeneron and Sanofi. Libtayo® is approved for the first-line treatment of patients with advanced NSCLC whose tumors have high PD-L1 expression (tumor proportion score ≥50%), as determined by an FDA-approved test, with no EGFR, ALK, or ROS1 aberrations, for adults with metastatic cutaneous squamous cell carcinoma ("CSCC") or locally advanced CSCC who are not candidates for curative surgery or curative radiation, and for patients with advanced basal cell carcinoma previously treated with a hedgehog pathway inhibitor ("HHI") or for whom an HHI is not appropriate that is either locally advanced (full approval) or metastatic (accelerated approval).

    About Silverback Therapeutics

    Silverback Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Silverback's platform enables the strategic pairing of proprietary payloads that modulate key disease modifying pathways with monoclonal antibodies directed at specific disease sites. Initially, Silverback is creating a new class of targeted immuno-oncology agents that direct a TLR8 agonist myeloid cell activator to the tumor microenvironment in solid tumors to promote cancer cell killing. Silverback Therapeutics is located in Seattle, Washington. To learn more, visit www.silverbacktx.com.

    Forward-Looking Statements

    This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Silverback's ability to bring new treatments to patients in need, and the progress and expected timing of Silverback's drug development programs and clinical trials. Factors that may cause actual results to differ materially include the risk that compounds that appeared promising in early research or clinical trials do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Silverback may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings, applications and other interactions with regulatory bodies, the risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, the risks associated with the COVID-19 global pandemic, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "promise," "potential," "expects," "plans," "anticipates," "intends," "continues," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties that Silverback faces, please refer to Silverback's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Silverback assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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  2. Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced that the Company will participate in the Raymond James Human Health Innovation Conference.

    Laura Shawver, Ph.D., Silverback's Chief Executive Officer, will provide a corporate overview on Wednesday, June 23rd, 2021, at 3:20 PM ET / 12:20 PM PT. The live webcast of the presentation will be available on Silverback's investor relations website and a replay will be available for 30 days following the event. Members of the Silverback…

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced that the Company will participate in the Raymond James Human Health Innovation Conference.

    Laura Shawver, Ph.D., Silverback's Chief Executive Officer, will provide a corporate overview on Wednesday, June 23rd, 2021, at 3:20 PM ET / 12:20 PM PT. The live webcast of the presentation will be available on Silverback's investor relations website and a replay will be available for 30 days following the event. Members of the Silverback management team will also host investor meetings during the conference.

    About Silverback Therapeutics

    Silverback Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Silverback's platform enables the strategic pairing of proprietary payloads that modulate key disease modifying pathways with monoclonal antibodies directed at specific disease sites. Initially, Silverback is creating a new class of targeted immuno-oncology agents that direct a TLR8 agonist myeloid cell activator to the tumor microenvironment in solid tumors to promote cancer cell killing. Silverback Therapeutics is located in Seattle, Washington. To learn more, visit www.silverbacktx.com.

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  3. Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced that the Company will participate in the Goldman Sachs 42nd Annual Global Healthcare Conference.

    Laura Shawver, Ph.D., Chief Executive Officer, and Valerie Odegard, Ph.D., President and Chief Scientific Officer, will represent Silverback at a fireside chat on Tuesday, June 8th, 2021 at 3:50 p.m. ET / 12:50 p.m. PT. The live webcast of the fireside chat will be available on Silverback's investor relations website and a replay…

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced that the Company will participate in the Goldman Sachs 42nd Annual Global Healthcare Conference.

    Laura Shawver, Ph.D., Chief Executive Officer, and Valerie Odegard, Ph.D., President and Chief Scientific Officer, will represent Silverback at a fireside chat on Tuesday, June 8th, 2021 at 3:50 p.m. ET / 12:50 p.m. PT. The live webcast of the fireside chat will be available on Silverback's investor relations website and a replay will be available for 30 days following the event. Members of the Silverback management team will also host investor meetings during the conference.

    About Silverback Therapeutics

    Silverback Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Silverback's platform enables the strategic pairing of proprietary payloads that modulate key disease modifying pathways with monoclonal antibodies directed at specific disease sites. Initially, Silverback is creating a new class of targeted immuno-oncology agents that direct a TLR8 agonist myeloid cell activator to the tumor microenvironment in solid tumors to promote cancer cell killing. Silverback Therapeutics is located in Seattle, Washington. To learn more, visit www.silverbacktx.com.

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  4. Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today reported financial results for the first quarter ended March 31, 2021 and provided a business update.

    "In our first quarter as a public company, our team continues to execute on Silverback's mission to bring tissue-targeted therapies to patients in need," said Laura Shawver, Ph.D., chief executive officer of Silverback. "We are on track to report interim clinical data for SBT6050 in the second half of this year, and we are equally excited…

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today reported financial results for the first quarter ended March 31, 2021 and provided a business update.

    "In our first quarter as a public company, our team continues to execute on Silverback's mission to bring tissue-targeted therapies to patients in need," said Laura Shawver, Ph.D., chief executive officer of Silverback. "We are on track to report interim clinical data for SBT6050 in the second half of this year, and we are equally excited about the progress and preclinical data emerging from SBT6290 and SBT8230, highlighting the broad applicability of our ImmunoTAC platform."

    Recent Highlights

    • SBT6050 (HER2-TLR8 ImmunoTAC) continues to advance through monotherapy and pembrolizumab combination dose escalation arms of the Phase 1/1b clinical study. Silverback is on track to deliver interim clinical data from the monotherapy dose escalation arm of the study in the second half of 2021.
    • GLP toxicology studies have commenced for SBT6290 (Nectin4-TLR8 ImmunoTAC), with an IND submission anticipated in the fourth quarter of 2021. Dosing has been initiated in the GLP toxicology study and GMP manufacturing of the Phase 1 clinical supply is underway. In April 2021, Silverback presented data at the American Association of Cancer Research Annual Meeting 2021. These preclinical data showed that SBT6290 activates human myeloid cells in a Nectin4-dependent manner and that a SBT6290 mouse surrogate confers single agent anti-tumor activity in preclinical studies.
    • SBT8230 (ASGR1-TLR8 ImmunoTAC for chronic HBV) continues to advance through preclinical development with CMC activities underway. GLP toxicology studies are expected to commence in the first quarter of 2022.
    • Appointed Maria Koehler, M.D., Ph.D. to Board of Directors. In March 2021, Silverback appointed Dr. Koehler, M.D., Ph.D. to its board of directors, bringing more than 20 years of clinical development leadership experience.

    First Quarter Financial Results

    For the first quarter ended March 31, 2021, Silverback reported a net loss of $18.9 million, compared to a net loss of $5.3 million for the comparable period in 2020. Net loss for the first quarter of 2021 included non-cash stock-based compensation expense of $4.3 million compared to $47,000 for the same period in 2020.

    Research and development expenses for the first quarter ended March 31, 2021 were $12.2 million, compared to $4.4 million for the same period in 2020. The increases in the Company's research and development expenses in 2021 were primarily attributable to the advancement of pipeline programs, including SBT6290 and SBT8230, into preclinical development and the continued development of SBT6050. Silverback also incurred additional personnel-related expenses as operations grew in support of program advances.

    General and administrative expenses for the first quarter ended March 31, 2021 were $6.6 million, compared to $0.8 million for the same period in 2020. The increases in general and administrative expenses were primarily attributable to an increase in personnel-related expenses due to increased headcount in 2020, including new executives, as well as increases in salaries, bonuses, and stock-based compensation. The increases in general and administrative expenses were also due to an increase in legal fees, professional fees, and other various general and administrative expenses as we now operate as a public company.

    As of March 31, 2021, Silverback reported cash and cash equivalents of $374.2 million, compared to $386.6 million at December 31, 2020, which is expected to fund operating expenses and capital expenditure requirements for at least the next 24 months.

    About Silverback Therapeutics

    Silverback Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Silverback's platform enables the strategic pairing of proprietary payloads that modulate key disease modifying pathways with monoclonal antibodies directed at specific disease sites. Initially, Silverback is creating a new class of targeted immuno-oncology agents that direct a TLR8 agonist myeloid cell activator to the tumor microenvironment in solid tumors to promote cancer cell killing. Silverback Therapeutics is located in Seattle, Washington. To learn more, visit www.silverbacktx.com.

    Forward-Looking Statements

    This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, Silverback's plans and ability to bring new treatments to patients in need, the progress and expected timing of Silverback's drug development programs and clinical trials, the strength of Silverback's balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that compounds that appeared promising in early research or clinical trials do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Silverback may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, risks associated with the impact of the COVID-19 pandemic on our business and the global economy, the risks associated with reliance on outside financing to meet capital requirements, the risks associated with losing key members of management and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "promise," "potential," "expects," "plans," "anticipates," "intends," "continues," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties that Silverback faces, please refer to Silverback's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Silverback assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Silverback Therapeutics, Inc.

    Condensed Balance Sheets

    (in thousands, except share and par value data)

     

     

    March 31,

     

     

    December 31,

     

     

    2021

     

     

    2020

     

     

    (unaudited)

     

     

     

     

    Assets

     

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

     

    Cash and cash equivalents

    $

    374,205

     

     

     

    $

    386,569

     

    Prepaid expenses and other current assets

     

    4,141

     

     

     

     

    4,087

     

    Total current assets

     

    378,346

     

     

     

     

    390,656

     

    Property and equipment, net

     

    1,603

     

     

     

     

    1,618

     

    Restricted cash

     

    350

     

     

     

     

    350

     

    Right-of-use asset

     

    1,900

     

     

     

     

    2,180

     

    Total assets

    $

    382,199

     

     

     

    $

    394,804

     

    Liabilities, and stockholders' equity

     

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

     

    Accounts payable

    $

    4,374

     

     

     

    $

    2,583

     

    Accrued expenses

     

    5,799

     

     

     

     

    5,278

     

    Term loan payable, net

     

    495

     

     

     

     

    844

     

    Current portion of lease liability

     

    927

     

     

     

     

    896

     

    Total current liabilities

     

    11,595

     

     

     

     

    9,601

     

    Lease liability, net of current portion

     

    2,055

     

     

     

     

    2,326

     

    Total liabilities

     

    13,650

     

     

     

     

    11,927

     

    Commitments and contingencies

     

     

     

     

     

     

     

    Stockholders' equity:

     

     

     

     

     

     

     

    Preferred Stock, $0.0001 par value per share; 10,000,000 shares authorized at March 31, 2021 and December 31, 2020; no shares issued and outstanding at March 31, 2021 and December 31, 2020

     

     

     

     

     

     

    Common stock, $0.0001 par value per share; 200,000,000 shares authorized at March 31, 2021 and December 31, 2020, 34,903,497 and 34,801,537 shares issued, and 34,827,204 and 34,701,274 shares outstanding at March 31, 2021 and December 31, 2020, respectively

     

    3

     

     

     

     

    3

     

    Additional paid-in capital

     

    484,147

     

     

     

     

    479,608

     

    Accumulated deficit

     

    (115,601

    )

     

     

     

    (96,734

    )

    Total stockholders' equity

     

    368,549

     

     

     

     

    382,877

     

    Total liabilities, and stockholders' equity

    $

    382,199

     

     

     

    $

    394,804

     

     

    Silverback Therapeutics, Inc.

    Condensed Statements of Operations and Comprehensive Loss

    (in thousands, except share and per share data)

    (unaudited)

     

     

    Three Months Ended March 31,

     

     

    2021

     

     

    2020

     

    Operating expenses:

     

     

     

     

     

     

     

    Research and development

    $

    12,239

     

     

     

    $

    4,414

     

     

    General and administrative

     

    6,646

     

     

     

     

    828

     

     

    Total operating expenses

     

    18,885

     

     

     

     

    5,242

     

     

    Loss from operations

     

    (18,885

    )

     

     

     

    (5,242

    )

     

    Interest income (expense), net

     

    18

     

     

     

     

    (37

    )

     

    Net loss and comprehensive loss

    $

    (18,867

    )

     

     

    $

    (5,279

    )

     

    Net loss per share applicable to common stockholders, basic and diluted

    $

    (0.54

    )

     

     

    $

    (7.89

    )

     

    Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted

     

    34,773,950

     

     

     

     

    669,033

     

     

     

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  5. SBT6290 Shown to Activate Myeloid Cells and Drive Anti-tumor Effects in Nectin4-expressing Solid Tumors

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue-targeted therapeutics for the treatment of cancer, chronic viral infections and other serious diseases, will present preclinical data on its second product candidate, SBT6290, at the American Association of Cancer Research (AACR) 2021 Annual Conference, taking place virtually April 10-15. The data highlight the ability of SBT6290, a systemically administered Nectin4-directed TLR8 ImmunoTAC product candidate, to selectively activate myeloid…

    SBT6290 Shown to Activate Myeloid Cells and Drive Anti-tumor Effects in Nectin4-expressing Solid Tumors

    Silverback Therapeutics, Inc. (NASDAQ:SBTX) ("Silverback"), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue-targeted therapeutics for the treatment of cancer, chronic viral infections and other serious diseases, will present preclinical data on its second product candidate, SBT6290, at the American Association of Cancer Research (AACR) 2021 Annual Conference, taking place virtually April 10-15. The data highlight the ability of SBT6290, a systemically administered Nectin4-directed TLR8 ImmunoTAC product candidate, to selectively activate myeloid cells in the tumor microenvironment, a promising approach to overcome resistance mechanisms associated with most current immunotherapies.

    "SBT6290 showcases the versatility of our ImmunoTAC platform and along with our lead program SBT6050, exemplifies our goal to target difficult-to-treat solid tumors subset by subset. We are building on learnings from SBT6050, leveraging the same TLR8 linker-payload, which is highly transferrable across different targeting antibodies," said Valerie Odegard, Ph.D., president & chief scientific officer of Silverback Therapeutics. "These preclinical data show that SBT6290 activates human myeloid cells in a Nectin4-dependent manner and that a SBT6290 mouse surrogate confers single agent anti-tumor activity in preclinical studies. We will continue to evaluate SBT6290 in GLP toxicology studies and anticipate submitting an IND for this program in the fourth quarter of 2021."

    SBT6290 comprises a selective TLR8 agonist conjugated to a Nectin4-specific monoclonal antibody. Nectin4 is a cell surface adhesion molecule that is overexpressed in multiple solid tumor types including urothelial, triple negative breast, squamous cell head and neck, and non-small cell lung cancers, with limited expression in normal tissues.

    The abstract is now available on the AACR Annual Meeting website. Details of the poster presentation are as follows:

    Title: SBT6290, a Systemically Administered Nectin4-Directed TLR8 ImmunoTAC® Product Candidate, is Designed for Tumor-localized Activation of Myeloid Cells

    Abstract Number: 1858

    Session Category: Immunology

    Session Title: Therapeutic Antibodies, Including Engineered Antibodies

    Virtual Poster Session Date and Time: The poster will be made available on the AACR website and Silverback website on April 10, 2021 at 8:30 a.m. ET

    About Silverback Therapeutics

    Silverback Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Silverback's platform enables the strategic pairing of proprietary payloads that modulate key disease modifying pathways with monoclonal antibodies directed at specific disease sites. Initially, Silverback is creating a new class of targeted immuno-oncology agents that direct a TLR8 agonist myeloid cell activator to the tumor microenvironment in solid tumors to promote cancer cell killing. Silverback Therapeutics is located in Seattle, Washington. To learn more, visit www.silverbacktx.com or follow us on LinkedIn.

    Forward-Looking Statements

    This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Silverback's ability to bring new treatments to patients in need, and the progress and expected timing of Silverback's drug development programs and clinical trials. Factors that may cause actual results to differ materially include the risk that compounds that appeared promising in early research or clinical trials do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Silverback may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "promise," "potential," "expects," "plans," "anticipates," "intends," "continues," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties that Silverback faces, please refer to Silverback's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Silverback assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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