VCNX Vaccinex Inc.

1.79
-0.02  -1%
Previous Close 1.81
Open 1.78
52 Week Low 1.7
52 Week High 12.23
Market Cap $35,968,530
Shares 20,094,151
Float 10,064,015
Enterprise Value $36,576,530
Volume 5,714,651
Av. Daily Volume 1,172,175
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Drug Pipeline

Drug Stage Notes
VX15 - Signal
Huntington’s disease
Phase 2
Phase 2
Phase 2 top-line data did not meet primary endpoints - September 22, 2020.
Pepinemab (VX15/2503)
Alzheimer’s Disease (AD)
Phase 1
Phase 1
Phase 1 enrollment to commence September 2020.
Pepinemab (VX15) and avelumab - CLASSICAL
Non-small cell lung cancer (NSCLC)
Phase 1/2
Phase 1/2
Phase 1/2 updated data presented April 27, 2020 at AACR noted 81% of immunotherapy-naïve patients (17/21) experienced disease control - partial response (5/21 patients) or stable disease (12/21 patients).
VX15 Yervoy and Opdivo
Pancreatic and Colorectal Cancer
Phase 1
Phase 1
Phase 1 interim analysis due at ASCO June 2020.

Latest News

  1. Key cognitive endpoints trending towards but did not reach statistical significance in early manifest population. Overall study does not meet pre-specified co-primary endpoints

    Results support continued development in Alzheimer's disease and in mid-stage Huntington's disease patients with greater cognitive deficits

    Company to host investor conference call today, September 22, at 8:30 a.m. EDT

    To access the call and webcast, please click here.

    ROCHESTER, N.Y., Sept. 22, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering a differentiated approach to treating cancer and neurodegenerative disease through the inhibition of SEMA4D, today announced topline results from the early manifest treatment…

    Key cognitive endpoints trending towards but did not reach statistical significance in early manifest population. Overall study does not meet pre-specified co-primary endpoints

    Results support continued development in Alzheimer's disease and in mid-stage Huntington's disease patients with greater cognitive deficits

    Company to host investor conference call today, September 22, at 8:30 a.m. EDT

    To access the call and webcast, please click here.

    ROCHESTER, N.Y., Sept. 22, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering a differentiated approach to treating cancer and neurodegenerative disease through the inhibition of SEMA4D, today announced topline results from the early manifest treatment arm (Cohort B1, N=179) of the Phase 2 double-blind, placebo-controlled SIGNAL trial of its lead clinical candidate, pepinemab, in patients with early manifest and prodromal Huntington's disease (HD).

    Maurice Zauderer, Ph.D., president and chief executive officer of Vaccinex remarked on the trial results, "HD affects multiple regions of the brain and disease progression impacts many critical functions including cognition and motor activity. The results reported today strongly support a cognitive benefit to treatment with pepinemab and indicate that treatment with pepinemab antibody potentially targets cortical centers, including those that govern cognition. The first sign of HD is often chorea and cognitive disturbances generally follow later in disease progression. We believe the data, therefore, suggest that patients at a somewhat more advanced stage of HD may derive the greatest benefit from pepinemab." Dr. Zauderer further noted that, "The insights gained from this study also suggest that pepinemab might be an important treatment option for Alzheimer's and other neurodegenerative diseases known to primarily affect frontal cortex and to impact cognition. As previously reported, imaging data indicate that these are the brain regions most affected by pepinemab treatment. The company has, accordingly, initiated screening and expects to begin enrolling patients this month in a new Alzheimer's disease study of pepinemab at 15 clinical sites in the United States. In line with the Company's ongoing efforts in Alzheimer's, as well as in head and neck cancer, the Company also intends to examine and, as appropriate, prioritize and balance its budget and expenditures."

    Dr, Zauderer concluded, "We are profoundly grateful to the patients and their families for their initiative and enthusiasm in participating in this study and their courage in confronting the burdens of this disease."

    The study had two co-primary endpoints, a family of two cognitive assessments from the Huntington's Disease Cognitive Assessment Battery and Clinical Global Impression of Change (CGIC). Although the study did not meet pre-specified co-primary endpoints, the results of each of the two cognitive assessments demonstrated a strong trend for beneficial change (OTS, p=0.028 and PTAP, p=0.06). These cognitive assessments reflect changes in planning ability and memory associated with disease progression. Similarly, a trend of benefit in CGIC did not show a statistically significant difference between the placebo and pepinemab-treated groups, possibly due to small group size in this phase 2 study.

    Pepinemab was well-tolerated with remarkably low treatment discontinuation and study drop-out rates over the extended 18 month treatment period. Additional results including a broader examination of motor activity and outcomes for a smaller group of 86 prodromal subjects will be reported in detail at the upcoming 2020 Huntington's Study Group Conference on October 30 and at subsequent medical conferences.

    Conference call details:

    Vaccinex management will host a conference call and webcast today, September 22, at 8:30 a.m. EDT. To access the call and webcast, please click here.

    About the SIGNAL trial

    SIGNAL was a multi-center, double-blind, placebo-controlled study to evaluate the safety and efficacy of pepinemab as a potential treatment for people with Huntington's disease, a devastating neurodegenerative disease with currently no effective disease modifying treatment. The study had two sequential Cohorts. The primary outcome of Cohort A was safety and pepinemab appeared to be well-tolerated. Additional data from SIGNAL Cohort A demonstrated that pepinemab treatment results in an increase in FDG-PET signal, a measure of brain metabolic activity, primarily in cortical regions. This is in contrast to the decrease observed in the placebo group and that has been described in the natural history of this and other neurodegenerative diseases. The design of the subsequent Cohort B was informed by the results of Cohort A and enrolled 265 subjects, 179 early manifest patients (Cohort B1) and 86 late prodromal subjects (Cohort B2) for randomized treatment of at least 18 months duration.

    About Pepinemab

    Pepinemab, also known as VX15/2503, is a humanized monoclonal antibody that binds and blocks the activity of semaphorin 4D (SEMA4D) which is an extracellular signaling molecule that regulates the migration and function of immune and inflammatory cells. Preclinical studies have demonstrated that the biological activities associated with antibody blockade of SEMA4D promote immune cell infiltration into tumors and prevent neurological damage in neuroinflammatory and neurodegenerative disease models. Vaccinex is focused on the development of pepinemab for the treatment of cancer and neurodegenerative diseases including Huntington's and Alzheimer's disease. As previously announced, encouraging results have been obtained in a study of pepinemab in combination with avelumab checkpoint inhibitor in Non-Small Cell Lung Cancer. A new collaboration with Merck to test the combination of pepinemab with pembrolizumab in Head & Neck Cancer is expected to begin in early 2021. Pepinemab is an investigational new drug that has not yet been approved by the U.S. Food and Drug Administration (FDA) or other regulatory authorities for any indication.

    About Vaccinex, Inc.

    Vaccinex, Inc. is a clinical-stage immunotherapy company engaged in the discovery and development of targeted biotherapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders, with currently active clinical trials in Non-Small Cell Lung Cancer, Huntington's and Alzheimer's disease and a recently announced collaboration with Merck for combination therapy with pepinemab and pembrolizumab in Head & Neck cancer. Vaccinex is based in Rochester, New York.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Vaccinex, Inc. ("Vaccinex," "we," "us," or "our"), they are forward-looking statements reflecting management's current beliefs and expectations. Such statements include, but are not limited to, statements about our plans, expectations and objectives with respect to the Huntington's, Alzheimer's disease and cancer clinical trials, the use of pepinemab, and other statements identified by words such as "may," "will," "appears," "expect," "anticipate," "estimate," "intend," "hypothesis," "potential," "advance," and similar expressions or their negatives (as well as other words and expressions referencing future events, conditions, or circumstances). Forward-looking statements involve substantial risks and uncertainties that could cause our research and pre-clinical development programs, clinical development programs, future results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, uncertainties inherent in the execution, cost and completion of preclinical and clinical trials, uncertainties related to regulatory approval, risks related to our dependence on our lead product candidate pepinemab (VX15/2503), and other matters that could affect our development plans or the commercial potential of our product candidates. Except as required by law, we assume no obligation to update these forward-looking statements. For a further discussion of these and other factors that could cause future results to differ materially from any forward-looking statement, see the section titled "Risk Factors" in our periodic reports filed with the Securities and Exchange Commission ("SEC") and the other risks and uncertainties described in our Form 10-K dated March 9, 2020 and subsequent filings with the SEC.

    Investor Contact

    Jeremy Feffer

    LifeSci Advisors, LLC

    212-915-2568

    Media Contact

    Cait Williamson, Ph.D.

    LifeSci Communications, LLC

    646-751-4366

    Primary Logo

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  2. ROCHESTER, N.Y., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering a novel approach to treating cancer and neurodegenerative disease through the inhibition of SEMA4D, today announced that it has entered into a clinical collaboration agreement with Merck (known as MSD outside the US and Canada), through a subsidiary, to evaluate the combination of Vaccinex's investigational SEMA4D inhibitor, pepinemab, and Merck's anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), in the treatment of patients with advanced, recurrent or metastatic head and neck squamous cell carcinoma (HNSCC).

    "We are pleased to be working with Merck to evaluate the potential of pepinemab in combination with…

    ROCHESTER, N.Y., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering a novel approach to treating cancer and neurodegenerative disease through the inhibition of SEMA4D, today announced that it has entered into a clinical collaboration agreement with Merck (known as MSD outside the US and Canada), through a subsidiary, to evaluate the combination of Vaccinex's investigational SEMA4D inhibitor, pepinemab, and Merck's anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), in the treatment of patients with advanced, recurrent or metastatic head and neck squamous cell carcinoma (HNSCC).

    "We are pleased to be working with Merck to evaluate the potential of pepinemab in combination with KEYTRUDA® to further improve the efficacy of cancer immunotherapy," said Maurice Zauderer, Ph.D., President and Chief Executive Officer of Vaccinex. "Several prior studies suggest that inhibition of SEMA4D increases immune infiltration and alters the balance of cytotoxic and immunosuppressive cells in the tumor microenvironment. SEMA4D is highly expressed in HNSCC and is believed to promote correspondingly high levels of myeloid derived suppressor cells. This collaboration provides an opportunity to evaluate this innovative approach in combination with anti-PD-1 therapy." 

    The planned clinical collaboration with pepinemab and pembrolizumab will consist of a dose escalation phase followed by an expansion phase that will enroll up to 65 HNSCC patients allocated to different levels of combined positive score (CPS) of PD-L1 expression.  CPS is a biomarker associated with benefit in response to immunotherapy, and a major goal of this study is to determine whether combination therapy can improve response in these populations.  Key endpoints of the study include objective response, progression free survival and overall survival. 

    KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, NJ, USA.

    About Pepinemab

    Pepinemab, also known as VX15/2503, is a humanized monoclonal antibody that binds and blocks the activity of semaphorin 4D (SEMA4D) which is an extracellular signaling molecule that regulates the migration and function of immune and inflammatory cells.  Preclinical studies have demonstrated that the biological activities associated with antibody blockade of SEMA4D promote immune cell infiltration into tumors and prevent neurological damage in neuroinflammatory and neurodegenerative disease models. Vaccinex is focused on the development of pepinemab for the treatment of cancer and neurodegenerative diseases including Huntington's disease.  Pepinemab is an investigational new drug that has not yet been approved by the U.S. Food and Drug Administration (FDA) or other regulatory authorities for any indication.

    About Vaccinex, Inc.

    Vaccinex, Inc. is pioneering a differentiated approach to treating cancer and neurodegenerative disease through the inhibition of semaphorin 4D (SEMA4D), a key driver of immune infiltration and neuroinflammation. The company's lead drug candidate, pepinemab, blocks SEMA4D and has potential as an immune enhancing therapy in cancer and a disease-modifying treatment for Huntington's, Alzheimer's and other neurodegenerative diseases. The company additionally intends to leverage its proprietary drug discovery platform, ActivMAb®, to create opportunities for future pipeline expansion and strategic collaborations.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Vaccinex, Inc. ("Vaccinex," "we," "us," or "our"), they are forward-looking statements reflecting management's current beliefs and expectations. Such statements include, but are not limited to, statements about our plans, expectations and objectives with respect to the Huntington's, Alzheimer's disease and cancer clinical trials, the use of pepinemab, and other statements identified by words such as "may," "will," "appears," "expect," "anticipate," "estimate," "intend," "hypothesis," "potential," "advance," and similar expressions or their negatives (as well as other words and expressions referencing future events, conditions, or circumstances). Forward-looking statements involve substantial risks and uncertainties that could cause our research and pre-clinical development programs, clinical development programs, future results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, uncertainties inherent in the execution, cost and completion of preclinical and clinical trials, uncertainties related to regulatory approval, uncertainties with respect to whether the FDA will agree that the SIGNAL trial qualifies as a pivotal trial, risks related to our dependence on our lead product candidate pepinemab (VX15/2503), and other matters that could affect our development plans or the commercial potential of our product candidates. Except as required by law, we assume no obligation to update these forward-looking statements. For a further discussion of these and other factors that could cause future results to differ materially from any forward-looking statement, see the section titled "Risk Factors" in our periodic reports filed with the Securities and Exchange Commission ("SEC") and the other risks and uncertainties described in our Form 10-K dated March 9, 2020 and subsequent filings with the SEC.

    Investor

    Contact

    JeremyFeffer

    LifeSci Advisors, LLC

    212-915-2568

    Media Contact

    Cait Williamson, Ph.D.

    LifeSci Communications, LLC

    646-751-4366

    Primary Logo

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  3. ROCHESTER, N.Y., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering novel investigational antibody therapies in Huntington's disease (HD) and cancer, announced the appointment of Robert Scala as Chief Commercial Officer. Robert will build and lead all commercial functions at Vaccinex and provide strategic and functional oversight of commercial operations for the Company starting with pepinemab, potentially the first disease modifying treatment for Huntington's disease. He will report to Maurice Zauderer, Ph.D., President and CEO, and serve as a member of the Company's Executive Team.

    Maurice Zauderer commented: "The appointment of Robert Scala as Chief Commercial Officer marks…

    ROCHESTER, N.Y., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering novel investigational antibody therapies in Huntington's disease (HD) and cancer, announced the appointment of Robert Scala as Chief Commercial Officer. Robert will build and lead all commercial functions at Vaccinex and provide strategic and functional oversight of commercial operations for the Company starting with pepinemab, potentially the first disease modifying treatment for Huntington's disease. He will report to Maurice Zauderer, Ph.D., President and CEO, and serve as a member of the Company's Executive Team.

    Maurice Zauderer commented: "The appointment of Robert Scala as Chief Commercial Officer marks a new phase in the growth of our company. On a solid foundation of innovation in research and achievements in clinical development, Robert will position our company to efficiently address the challenges of commercial expansion. Robert is an experienced commercial leader who demonstrated the ability to manage and integrate diverse resources in his previous appointments, and will direct existing and expanding capabilities at Vaccinex."

    Mr. Scala brings over 30 years of experience across neurology, oncology, immunology and endocrinology in multiple geographic regions. He joins Vaccinex after serving as Vice President of Business Planning and Operations at start-up biotechnology companies DBV Technologies and Radius Health. In these roles, Mr. Scala successfully established operational infrastructure to enable enterprise-wide initiatives to ensure launch-readiness as well as to enable execution across Sales, Marketing, Medical and Managed Markets. Prior to his biotechnology experience, Mr. Scala served in various roles of increasing responsibilities at Merck/Schering-Plough, Pfizer/Pharmacia, and Eisai, including Commercial Development, Marketing, Operations, and Finance.

    "Currently there are no approved treatments to alter the course of Huntington's disease, and there is a great unmet need for disease-modifying options," said Robert Scala. "I look forward to building upon the great science and clinical evidence the Company has developed and to work in establishing the commercial capabilities necessary to potentially bring investigational therapies to patients in need."

    About Vaccinex, Inc.

    Vaccinex, Inc. is pioneering a differentiated approach to treating neurodegenerative disease through the inhibition of semaphorin 4D (SEMA4D), a key driver of neuroinflammation. The company's lead drug candidate, pepinemab, blocks SEMA4D and has potential as a disease-modifying treatment for Huntington's, Alzheimer's and other neurodegenerative diseases. Beyond neurology, Vaccinex believes that, in combination with checkpoint inhibitors, pepinemab has potential to increase objective responses in oncology. The company additionally intends to leverage its proprietary drug discovery platform, ActivMAb®, to create opportunities for future pipeline expansion and strategic collaborations.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Vaccinex, Inc. ("Vaccinex," "we," "us," or "our"), they are forward-looking statements reflecting management's current beliefs and expectations. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," "potential," "advance," and similar expressions or their negatives (as well as other words and expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. Examples of forward-looking statements in this press release include, among others, statements about the expected timing and results of our ongoing and future clinical trials and our expectations regarding the potential benefits, activity and effectiveness of our product candidates. Forward-looking statements may involve substantial risks and uncertainties that could cause our research and pre-clinical development programs, clinical development programs, future results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, uncertainties inherent in the execution, cost and completion of preclinical and clinical trials, uncertainties related to regulatory approval, our history of operating losses and need to raise additional capital to continue as a going concern, risks related to our indebtedness, risks related to our dependence on our lead product candidate, pepinemab, the impact of the COVID-19 pandemic, and other matters that could affect our development plans or the commercial potential of our product candidates. Except as required by law, we assume no obligation to update these forward-looking statements. For a further discussion of these and other factors that could cause future results to differ materially from any forward-looking statement, see the section titled "Risk Factors" in our periodic reports filed with the Securities and Exchange Commission ("SEC") and the other risks and uncertainties described in our Form 10-K filed with the SEC on March 13, 2019 and subsequent periodic reports.

    Investor Contact

    Jeremy Feffer

    LifeSci Advisors, LLC

    212-915-2568

    Media Contact

    Cait Williamson, Ph.D.

    LifeSci Communications, LLC

    646-751-4366

    Primary Logo

    View Full Article Hide Full Article
  4. On track to report potentially pivotal Phase 2 Huntington's disease topline data by early October

    Phase 1/2 trial of pepinemab in Alzheimer's disease to begin enrolling patients in September

    Raised net proceeds of $19.8 million since June 30

    ROCHESTER, N.Y., Aug. 14, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering novel investigational antibody therapies in Huntington's disease and cancer, today announced financial results for the second quarter ended June 30, 2020 and provided a corporate update.

    Pepinemab Clinical Updates:

    • Huntington's Disease. The company's ongoing SIGNAL clinical trial is evaluating its lead drug candidate, pepinemab, for the treatment of Huntington's disease…

    On track to report potentially pivotal Phase 2 Huntington's disease topline data by early October

    Phase 1/2 trial of pepinemab in Alzheimer's disease to begin enrolling patients in September

    Raised net proceeds of $19.8 million since June 30

    ROCHESTER, N.Y., Aug. 14, 2020 (GLOBE NEWSWIRE) -- Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering novel investigational antibody therapies in Huntington's disease and cancer, today announced financial results for the second quarter ended June 30, 2020 and provided a corporate update.

    Pepinemab Clinical Updates:

    • Huntington's Disease. The company's ongoing SIGNAL clinical trial is evaluating its lead drug candidate, pepinemab, for the treatment of Huntington's disease (HD). The company remains on track to complete the trial within the previously announced time frame.  Subsequent to June 30, 2020, the last two patient treatment visits have been completed, and primary efficacy data has been collected from all subjects enrolled. The company continues to anticipate that topline data will be released by early October 2020.
    • Non-Small Cell Lung Cancer (NSCLC). CLASSICAL-Lung clinical trial. The CLASSICAL-Lung study is evaluating pepinemab in combination with the anti-PD-L1 checkpoint inhibitor BAVENCIO® (avelumab) for the treatment of advanced (stage IIIB/IV) NSCLC. Near topline data for this trial presented at the virtual American Society of Clinical Oncology (ASCO) conference in late May 2020 suggested that immunotherapy naive and PD-L1 negative or low patients achieved higher response rates with the combination than with avelumab alone.
    • Head and Neck Cancer. The company is preparing to initiate a new study of pepinemab in combination with an anti-PD-1 checkpoint inhibitor to treat front line head and neck cancer. The Company expects to provide further details on this study in the third quarter of 2020.
    • Alzheimer's Disease. After a delay caused by the COVID-19 pandemic, the company expects to initiate enrollment in a clinical trial of pepinemab in Alzheimer's disease in September 2020.
    • Pepinemab is also being evaluated in multiple investigator-sponsored trials (ISTs) in additional indications including "window of opportunity" studies being conducted by the Winship Cancer Institute of Emory University to evaluate pepinemab in combination with checkpoint inhibitors in colorectal, pancreatic, head and neck cancer and melanoma.

    Other Second Quarter and Recent Accomplishments:

    • Presented updated interim results from CLASSICAL-Lung), at the American Society of Clinical Oncology (ASCO) 2020 Annual Meeting and at the American Association for Cancer Research (AACR) Virtual Annual Meeting.
    • Delivered a virtual presentation at the Advances in Alzheimer's and Parkinson's Therapies AAT-AD/PD™ Focus Meeting 2020 highlighting the potential of pepinemab to regulate glial cell activation and neurodegeneration in Alzheimer's and Huntington's disease.

    "We are rapidly approaching a significant milestone for our company with top-line data from our potentially pivotal SIGNAL trial in Huntington's disease expected by early October," stated Maurice Zauderer, Ph.D., president and chief executive officer of Vaccinex. "In parallel, we are exploring pepinemab's potential utility in other slowly progressive neuroinflammatory and neurodegenerative diseases and anticipate commencing enrollment in a Phase 1/2 Alzheimer's disease trial in September. We are very appreciative of financial support from both the Alzheimer's Association and from the Alzheimer's Drug Discovery Foundation to advance this important trial," Dr. Zauderer concluded.  

    Upcoming Expected Milestones:

    • Late September/Early October 2020 – Topline data expected from potentially pivotal SIGNAL Huntington's disease study.
    • September 2020 - Anticipated enrollment of first patient in Alzheimer's disease Phase 1/2 study.
    • Second half 2020 – Preparation expected to commence for Phase 2 study of pepinemab in combination with anti-PD-1 in head and neck cancer.

    Financial Results for the Three Months Ended June 30, 2020:

    Research and Development Expenses. Research and development expenses for the three months ended June 30, 2020 were $4.6 million, as compared to $7.3 million for the comparable period in 2019. This decrease was primarily attributable to decreases in expenses in the CLASSICAL-Lung and SIGNAL studies as patients have come off study.

    General and Administrative Expenses. General and administrative expenses for the three months ended June 30, 2020 were $1.9 million, as compared to $1.5 million for the comparable period in 2019. The increase was due to increased stock-based compensation as a result of new option awards to employees and board members, as well as increased directors and officers insurance premiums.  

    Cash and Cash Equivalents and Marketable Securities. Cash and cash equivalents and marketable securities on June 30, 2020 were $0.5 million, as compared to $2.8 million on December 31, 2019. Subsequent to the end of the second quarter, the company raised total proceeds, net of discounts and commissions and before expenses, of approximately $19.8 million through four financing transactions: $6.9 million through its existing at-the-market (ATM) equity facility, $8.0 million through the sale of a senior secured convertible debenture, $4.0 million through a private placement transaction, and $300,000 through the company's existing equity line of credit facility. The company also received $575,000 of the previously announced $750,000 grant from the Alzheimer's Association under the 2020 Part the Cloud Program.

    About Vaccinex, Inc.

    Vaccinex, Inc. is pioneering a differentiated approach to treating neurodegenerative disease through the inhibition of semaphorin 4D (SEMA4D), a key driver of neuroinflammation. The company's lead drug candidate, pepinemab, blocks SEMA4D and has potential as a disease-modifying treatment for Huntington's, Alzheimer's and other neurodegenerative diseases. Beyond neurology, Vaccinex believes that, in combination with checkpoint inhibitors, pepinemab has potential to increase objective responses in oncology. The company additionally intends to leverage its proprietary drug discovery platform, ActivMAb®, to create opportunities for future pipeline expansion and strategic collaborations.

    Forward Looking Statements

    To the extent that statements contained in this press release are not descriptions of historical facts regarding Vaccinex, Inc. ("Vaccinex," "we," "us," or "our"), they are forward-looking statements reflecting management's current beliefs and expectations. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," "potential," "advance," and similar expressions or their negatives (as well as other words and expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. Examples of forward-looking statements in this press release include, among others, statements about the expected timing and results of our ongoing and future clinical trials and our expectations regarding the potential benefits, activity and effectiveness of our product candidates. Forward-looking statements may involve substantial risks and uncertainties that could cause our research and pre-clinical development programs, clinical development programs, future results, performance, or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, uncertainties inherent in the execution, cost and completion of preclinical and clinical trials, uncertainties related to regulatory approval, our history of operating losses and need to raise additional capital to continue as a going concern, risks related to our indebtedness, risks related to our dependence on our lead product candidate, pepinemab, the impact of the COVID-19 pandemic, and other matters that could affect our development plans or the commercial potential of our product candidates. Except as required by law, we assume no obligation to update these forward-looking statements. For a further discussion of these and other factors that could cause future results to differ materially from any forward-looking statement, see the section titled "Risk Factors" in our periodic reports filed with the Securities and Exchange Commission ("SEC") and the other risks and uncertainties described in our Form 10-K filed with the SEC on March 13, 2019 and subsequent periodic reports.

    Investor Contact

    Jeremy Feffer

    LifeSci Advisors, LLC

    212-915-2568

    Media Contact

    Cait Williamson, Ph.D.

    LifeSci Communications, LLC

    646-751-4366

    Primary Logo

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  5. Recently established firm is led by former Millennium Management executive Fredric Zaino.

    Keystone Capital Partners today announced the formation of its investment platform led by hedge fund veteran Fred Zaino. During a successful 15-year career at multi-billion-dollar global investment management firm Millennium, Mr. Zaino successfully identified and invested in hundreds of companies through bottom-up, fundamental analysis with a focus on the Biotech/MedTech sector.

    "Keystone aims to help overlooked and underfunded companies reach their goals by providing a stable and equitable source of capital through creative investment structures," said Mr. Zaino, Chief Investment Officer at Keystone. "I've learned throughout my career that the best…

    Recently established firm is led by former Millennium Management executive Fredric Zaino.

    Keystone Capital Partners today announced the formation of its investment platform led by hedge fund veteran Fred Zaino. During a successful 15-year career at multi-billion-dollar global investment management firm Millennium, Mr. Zaino successfully identified and invested in hundreds of companies through bottom-up, fundamental analysis with a focus on the Biotech/MedTech sector.

    "Keystone aims to help overlooked and underfunded companies reach their goals by providing a stable and equitable source of capital through creative investment structures," said Mr. Zaino, Chief Investment Officer at Keystone. "I've learned throughout my career that the best returns are often generated from the strongest partnerships, and Keystone will invest in building long-term, mutually beneficial relationships with strong management teams to help them meet and exceed their business objectives."

    Structured as a family office, Keystone is unburdened by the restrictions of typical third-party investors and has the ability to deploy capital to its portfolio companies in a flexible, unconstrained and timely manner. The firm is focused on building long-term capital partnerships with attractively valued micro-cap, small-cap, and mid-cap public and private companies. While generally sector-agnostic, industries of focus include biotech, real estate and consumer products.

    The firm's initial investments include:

    • An up to $25 million commitment to purchase common stock in PolarityTE, Inc. (NASDAQ:PTE), a biotechnology company developing regenerative tissue products and biomaterials.
    • An up to $5 million commitment to purchase common stock in Vaccinex, Inc. (NASDAQ:VCNX), a clinical-stage biotechnology company pioneering novel investigational antibody therapies in Huntington's disease (HD) and cancer.
    • Investments in Navidea Biopharmaceuticals, Inc., (NYSE:NAVB), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics.
    • Varian Biopharma, Inc., a privately held corporation, is developing a first-in-class atypical Protein Kinase C Iota (aPKCi) inhibitor; an oncogene required for the growth of multiple forms of human cancers including basal cell carcinoma and pancreatic cancer, among others.
    • Stella Diagnostics, LLC, is a privately held, molecular diagnostics-based organization focused on improving patient management strategies for over 67 million people living with severe esophageal disease. StellaDX's proprietary technology offers physicians insight into the molecular properties of their patients' tissue to determine if the disease is stable, progressing or turning cancerous. Their goal is to become a first-line diagnostic tool that provides superior targeted information compared to the current standard of care.

    Keystone's creative financing solutions are unique for each company, always working in cooperation with management teams with the ultimate goal of achieving full value for all stakeholders.

    For more information, visit www.keystone-cp.com

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