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Gritstone bio, Inc. (Nasdaq: GRTS) is at the forefront of developing personalized cancer immunotherapies and next-generation vaccines for infectious diseases. Headquartered in Emeryville, California, with additional key functions in Cambridge, Massachusetts, Gritstone is a clinical-stage biotechnology company leveraging innovative vectors and payloads to train the immune system to combat critical disease targets. Founded in 2015 with a strong financial backing of $102 million in Series A financing, Gritstone brings together a distinguished team of scientific founders, an experienced management team, and a successful board of directors.
Gritstone's pipeline includes multiple product candidates targeting solid tumors and viral diseases. Their key programs include GRANITE, a personalized neoantigen vaccine program, and SLATE, an 'off-the-shelf' neoantigen vaccine program. Additionally, they are developing CORAL, a next-generation SARS-CoV-2 vaccine designed to drive both B cell and T cell immunity using self-amplifying mRNA (samRNA). Gritstone's collaboration with the National Cancer Institute (NCI) and other industry leaders underscores the pioneering vision and scientific rigor that guides their innovative approaches.
Recent clinical updates have highlighted promising preliminary Phase 2 data for GRANITE in metastatic colorectal cancer (MSS-CRC), showing a progression-free survival benefit. SLATE-KRAS, a variant of their 'off-the-shelf' neoantigen vaccine, has also demonstrated superior immunogenicity in Phase 2 studies. Additionally, their CORAL program continues to show robust and durable immune responses in diverse populations, including those living with HIV.
Gritstone's financial condition remains strong, bolstered by recent public offerings and continued support from prominent foundations and government agencies. Their latest corporate developments and financial results reflect a clear trajectory towards advancing their clinical programs and achieving regulatory milestones.
Gritstone bio, Inc. (Nasdaq: GRTS) announced the appointment of Celia Economides as the new executive vice president and chief financial officer, succeeding Roman Yelensky, who is leaving to co-found a cancer diagnostics startup. Economides brings significant experience from her prior roles at Kezar Life Sciences and Aurinia Pharmaceuticals. The company is positioned for growth with upcoming data from its cancer programs, GRANITE and SLATE, and new infectious disease initiatives. CEO Andrew Allen expressed optimism about the company’s trajectory under Economides.
Gritstone bio, Inc. (Nasdaq: GRTS) announced the grant of nonqualified stock options for 24,950 shares to five employees, as an incentive for their employment. The options have an exercise price of $10.20, coinciding with the stock's closing price on June 14, 2021. Vesting will occur over four years, starting with 25% after one year and monthly thereafter. This grant aligns with Nasdaq’s Listing Rule 5635(c)(4) aimed at attracting talent in clinical-stage biotechnology focused on cancer and infectious disease immunotherapies.
Gritstone bio, Inc. (Nasdaq: GRTS), a biotech firm focused on cancer and infectious disease immunotherapies, will present a company overview at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10, 2021, at 10:30 a.m. ET. CEO Andrew Allen will discuss company advancements, including its innovative Gritstone EDGE™ platform for predicting antigens to empower the immune system. Gritstone's lead programs include GRANITE for personalized cancer treatment and CORAL for a next-generation COVID-19 vaccine, alongside collaborations with health organizations and Gilead Sciences.
Gritstone bio (Nasdaq: GRTS) has announced the appointment of Dr. Naiyer A. Rizvi and Dr. Shefali Agarwal to its Board of Directors. Dr. Rizvi is a co-founder of Gritstone and renowned in immuno-oncology, previously serving at Columbia University. Dr. Agarwal has extensive experience in clinical development, notably in leading breakthrough medicines at Epizyme. This strategic move aims to enhance the company's commitment to developing innovative immunotherapies. Concurrently, Tom Woiwode and Nicholas Simon have stepped down from the Board, marking a significant leadership transition.
Gritstone bio, Inc. (Nasdaq: GRTS) announced the grant of nonqualified stock options for 82,200 shares to five employees as an inducement for their hiring. The options have an exercise price of $8.50, equal to the closing stock price on the grant date, May 5, 2021. Vesting occurs over four years, starting with 25% after one year of employment. Gritstone is focused on developing immunotherapies for cancer and infectious diseases, utilizing its proprietary Gritstone EDGE™ platform.
Gritstone bio, Inc. (GRTS) reported Q1 2021 financial results, highlighting a net income of $7.9 million, a significant improvement from a $26.2 million net loss in Q1 2020. This increase was driven by $39.7 million in collaboration and license revenue, primarily from a partnership with Gilead. R&D expenses rose to $24.9 million due to increased milestone payments. Gritstone continued patient dosing in its GRANITE program and launched the CORAL COVID-19 program, aiming for significant clinical advancements throughout 2021.
Gritstone Oncology, Inc. (Nasdaq: GRTS) has officially changed its name to Gritstone bio, Inc. as of May 3, 2021. This change reflects the company's expanded focus beyond cancer immunotherapies to also include infectious diseases, driven in part by the COVID-19 pandemic. Gritstone is advancing its Phase 2 clinical trials for cancer treatments, including GRANITE and SLATE, while simultaneously developing a COVID-19 vaccine (CORAL) and an HIV vaccine in collaboration with Gilead Sciences. The company aims to leverage its proprietary vaccine technologies to enhance immune responses against various pathogens.
Gritstone Oncology (Nasdaq: GRTS) has initiated a Phase 1 study for its second-generation COVID-19 vaccine, CORAL, which focuses on eliciting immune responses against both Spike and non-Spike antigens of SARS-CoV-2. The study, supported by NIAID, aims to enhance clinical protection against emerging variants. Preliminary data is expected mid-year, with a follow-up Phase 2 trial planned to assess CORAL as a booster for individuals previously vaccinated with first-generation vaccines. The company envisions CORAL addressing future coronavirus immunity challenges.
Gritstone Oncology, Inc. (Nasdaq: GRTS) reported its financial results for Q4 and FY 2020, with a net loss of $27.2 million and $105.3 million respectively. Collaboration revenue decreased to $3.5 million, down from $4.4 million in 2019. R&D expenses rose to $88.6 million, attributed to increased personnel and lab costs. The company has launched new oncology and infectious disease programs, including a COVID-19 vaccine. As of December 31, 2020, Gritstone's cash reserves stood at $172.1 million, up from $128.8 million in the prior year.
Gritstone Oncology (Nasdaq: GRTS) announced key promotions within its leadership on March 8, 2021. Karin Jooss, Ph.D., has been appointed as head of research and development, previously serving as executive vice president of research and chief scientific officer. Erin Jones, M.S., has been promoted to chief operating officer, having led global regulatory affairs and quality. These changes aim to support the expansion of Gritstone's infectious disease pipeline alongside its oncology programs, reflecting the company's strategic growth and increased focus on innovative therapies.
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