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Caladrius Biosciences has successfully merged with Cend Therapeutics, forming Lisata Therapeutics and commencing trading on Nasdaq under the ticker symbol LSTA. The transaction closed on September 15, 2022, following stockholder approval. Lisata will focus on its CendR Platform™ in oncology, backed by approximately $76 million in cash and investments. The leadership team has been strengthened with seasoned industry executives, maintaining continuity in key roles. The merger positions Lisata to advance its clinical development pipeline over the next 24 months.
Caladrius Biosciences (Nasdaq: CLBS) has received stockholder approval for all merger-related proposals at its annual meeting held on September 13, 2022. This includes the merger with Cend Therapeutics and a reverse stock split at a ratio of one new share for every fifteen existing shares. The merger is expected to close on September 15, 2022, leading to rebranding as Lisata Therapeutics, Inc. The combined entity will trade under the symbol LSTA on Nasdaq from September 15, 2022. This move is aimed at enhancing Caladrius' clinical pipeline and financial stability.
Caladrius Biosciences (Nasdaq: CLBS) collaborates with Cend Therapeutics to evaluate the investigational drug CEND-1 alongside Roche's atezolizumab for metastatic pancreatic ductal adenocarcinoma (mPDAC). Roche will manage the trial, sharing costs with Cend. This Phase 1b/2 study aims to enhance treatment efficacy for pancreatic cancer patients. CEND-1 targets tumor vasculature, aiming to improve drug delivery. Previous clinical data showcases promising results in combination with standard chemotherapy. The trial is part of Roche's Morpheus Platform, focusing on high-need cancer indications.
On August 4, 2022, Caladrius Biosciences (Nasdaq: CLBS) announced that its merger with Cend Therapeutics is on track to close in Q3 2022, pending stockholder approval. This merger will lead to the formation of Lisata Therapeutics, focusing on cancer treatment technologies. Caladrius reported a 25% reduction in R&D expenses for Q2 2022, totaling $3.2 million, while net losses increased to $6.6 million. The company maintains a strong cash position of approximately $73 million post a $10 million investment in Cend and continues to advance its product candidates, including CLBS12 and CLBS201.
Caladrius Biosciences (Nasdaq: CLBS) announced the completion of its Phase 1b clinical trial for CLBS201, a CD34+ regenerative cell therapy aimed at treating diabetic kidney disease (DKD). The trial focused on patients with rapidly progressing stage 3b/4 DKD. Top-line data is expected by Q1 2023, following the six-month follow-ups. Dr. Kristen K. Buck highlighted the significance of this milestone, while principal investigator Dr. Pablo Pergola emphasized the potential breakthrough in treatment. The study aims to evaluate the therapy's safety and efficacy in restoring kidney function.
Caladrius Biosciences, Inc. (Nasdaq: CLBS) will report its financial results for Q2 2022 on August 4, 2022, at 4:30 p.m. EDT. The call will feature a new conference registration process, with participants advised to register in advance. Caladrius focuses on developing innovative therapies, including XOWNA® (CLBS16) for coronary microvascular dysfunction and CLBS12 (HONEDRA®) for critical limb ischemia. The company recently entered a merger agreement with Cend Therapeutics to form Lisata Therapeutics, anticipated to close in Q3 2022, enhancing its development pipeline.
Caladrius Biosciences (NASDAQ: CLBS) and Cend Therapeutics have announced positive results from a Phase 1b study of CEND-1, an investigational drug for metastatic pancreatic ductal adenocarcinoma (mPDAC). Published in The Lancet Gastroenterology and Hepatology, the study showed CEND-1 combined with gemcitabine and nab-paclitaxel demonstrated favorable safety and encouraging efficacy.
Key outcomes include a median progression-free survival of 9.7 months, a 59% overall response rate, and significant tumor markers reduction. The companies are set to merge to form Lisata Therapeutics.
Caladrius Biosciences (Nasdaq: CLBS) announces that its merger partner, Cend Therapeutics, has treated the first patient in a Phase 2b trial for CEND-1, a drug for advanced pancreatic cancer. The ASCEND trial involves 125 patients across 40 sites in Australia and New Zealand and aims to assess the efficacy of CEND-1 combined with gemcitabine and nab-paclitaxel. CEND-1 targets tumor vasculature to enhance drug delivery. This trial marks a significant milestone in the collaboration between Caladrius and Cend, with further clinical advancements expected before the planned merger closure in Q3 2022.
Caladrius Biosciences (Nasdaq: CLBS) announced that Dr. David J. Mazzo, its CEO, will present a corporate overview at the BIO International Convention in San Diego, CA, from June 13-16, 2022. Dr. Mazzo's presentation is scheduled for June 15, 2022, at 2:15 p.m. PDT in Theatre 3. The company is focused on developing innovative therapies, including its product candidates like XOWNA® for coronary microvascular dysfunction and CLBS12 for critical limb ischemia. Caladrius recently signed a merger agreement with Cend Therapeutics, expected to close in Q3 2022.
Caladrius Biosciences (Nasdaq: CLBS) announces a poster presentation at the ASCO Annual Meeting, showcasing a Phase 1b/2b study of CEND-1 in combination with FOLFIRINOX in treating solid tumors (pancreatic, colorectal, appendiceal). The presentation is scheduled for June 4, 2022, led by Dr. Anup Kumar Kasi from the University of Kansas Medical Center.
In addition, Caladrius is in the process of merging with Cend Therapeutics, expected to finalize in Q3 2022.
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