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Codiak BioSciences (Nasdaq: CDAK) announced participation in two investor conferences. On August 9, the management will engage in a fireside chat at the BTIG Biotechnology Conference 2022 and host virtual one-on-one meetings. On August 10, CEO Douglas E. Williams will join a panel discussion at the Wedbush PacGrow Healthcare Conference, focusing on immuno-oncology from 2:20 - 3:20 PM ET. A webcast of this event will be available on Codiak's website. The company is developing exosome-based therapeutics aiming to address unmet medical needs across various disease areas.
Codiak BioSciences (Nasdaq: CDAK) announced its participation in the William Blair Biotech Focus Conference 2022 in New York City on July 12. CEO Douglas E. Williams will engage in a panel discussion on "Developing Therapies for the Next Immuno-Oncology Targets" from 4:10 to 5:20 PM ET. The company focuses on exosome-based therapeutics through its proprietary engEx® Platform, targeting a wide array of diseases including oncology and rare diseases. For more details, visit www.codiakbio.com.
On July 5, 2022, CEPI awarded Codiak BioSciences (CDAK) up to $2.5 million in seed funding to support the preclinical development of its pan Betacoronavirus vaccine candidates. This initiative aims to create vaccines that offer broad protection against SARS-CoV-2 and related Betacoronaviruses. Codiak's exoVACC™ platform utilizes engineered exosomes to enhance immune response. Additionally, CEPI's funding aligns with its commitment to equitable vaccine access, ensuring the outputs benefit global health. Codiak anticipates the funding will facilitate the identification of clinical candidates from its innovative research.
Codiak BioSciences, a clinical-stage biopharmaceutical company (Nasdaq: CDAK), announced positive clinical results from Phase 1 trials of its engineered exosome candidates, exoSTING and exoIL-12. Both candidates demonstrated a favorable safety profile and antitumor activity, with no systemic exposure or treatment-related adverse events reported. Codiak has identified recommended Phase 2 doses and plans to initiate these studies in Q1 2023 for exoSTING in bladder cancer and exoIL-12 across multiple tumor types. These developments validate Codiak's engEx platform and signal potential advancements in cancer treatment.
Codiak BioSciences (NASDAQ: CDAK) has commenced patient dosing in its Phase 1 clinical trial for exoASO-STAT6, a novel engineered exosome candidate. This candidate aims to disrupt STAT6 signaling in tumor-associated macrophages, potentially enhancing anti-tumor immunity. The trial targets patients with advanced hepatocellular carcinoma and liver metastases from gastric and colorectal cancers. Preclinical studies indicate promising results, with over 90% tumor growth inhibition. Initial data from the trial is expected in the first half of 2023, marking a pivotal advancement in Codiak's developmental pipeline.
Codiak BioSciences has announced new preclinical data from its engEx-AAV™ program, presented at the 25th Annual Meeting of the American Society of Gene and Cell Therapy. The data indicates that engineered exosomes can significantly improve AAV yield while maintaining functionality and resisting neutralizing antibodies. This advancement addresses significant challenges in AAV gene therapy, enhancing its therapeutic potential. The findings showcase the ability of Codiak's engineering platform to increase transduction efficiency and could lead to better treatment options for ocular diseases.
Cellarity has appointed Dr. Sandra Horning to its Board of Directors. Dr. Horning, former Chief Medical Officer at Roche, has extensive experience in drug development, having led the approval of 15 new medicines. Her role is expected to strengthen Cellarity's mission of transforming drug creation through innovative approaches that address complex diseases. The company's unique methodologies utilize high-resolution data and machine learning to enhance drug discovery. This strategic move is viewed positively for future product development.
Codiak BioSciences reported Q1 2022 revenues of $12.7 million, a slight drop from $13.2 million in Q1 2021. The net loss improved to $8.0 million, down from $10.3 million year-over-year, largely due to reduced research and development costs. This quarter, Codiak is focused on advancing its exosome-based therapies, with initial dosing of the exoASO-STAT6 trial expected in 1H 2022. Future data releases from clinical trials, including exoSTING and exoIL-12, are anticipated by late 1H 2022. Codiak's cash reserves total approximately $56.5 million.
Codiak BioSciences has appointed David Mauro, M.D., Ph.D. as Chief Medical Officer, enhancing its leadership in oncology drug development. Mauro brings over 20 years of experience, including overseeing clinical operations and regulatory affairs for various drug candidates. His appointment is timely as Codiak is advancing its third candidate into clinical trials and nearing critical milestones for ongoing trials. The company aims to leverage its engEx platform to transform exosome-based therapeutics for treating multiple diseases, emphasizing the potential of exosomes in innovative treatments.
Codiak BioSciences (Nasdaq: CDAK) presented new preclinical data on its engineered exosome vaccine candidate targeting all SARS-CoV-2 variants at the World Vaccine Congress 2022. The data suggests significant immune responses, including durable cross-neutralizing antibody protection and T cell responses. Key findings include an antibody response lasting over eight months, effective mucosal immune responses, and 100% survival in mouse models challenged with the Delta variant. The company aims to advance this program towards IND-enabling studies this year.
