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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.
On August 17, 2022, Gritstone bio announced the grant of stock options for 239,100 shares to eight employees at an exercise price of $3.40. This price matches the closing stock price on August 10, 2022. The options are part of an employment inducement plan and will vest over four years, with 25% vesting on the first anniversary and subsequent vesting monthly. Gritstone aims to develop potent vaccines leveraging innovative technologies to combat viral diseases and solid tumors. The company remains in the clinical stage, facing risks associated with drug development, regulatory approvals, and manufacturing challenges.
Gritstone bio (Nasdaq: GRTS) announced interim results from its Phase 1/2 study of GRANITE, a neoantigen-based immunotherapy that demonstrated significant T cell responses in advanced colorectal cancer patients. The study linked T cell activity to improved overall survival, with patients showing a molecular response achieving over 18 months median OS. GRANITE is advancing to a Phase 2/3 trial for newly diagnosed metastatic colorectal cancer, with initial results expected in the second half of 2023. The study's publication in Nature Medicine highlights the program's potential clinical value.
Gritstone bio, Inc. (Nasdaq: GRTS) has appointed Dr. Lawrence Corey, a leading expert in virology and vaccine development, to its Board of Directors effective August 12, 2022. Dr. Corey, former President of Fred Hutchinson Cancer Center, replaces Dr. Richard Heyman, who served over six years. The company anticipates that Dr. Corey’s extensive experience in vaccine research will enhance its proprietary antigen discovery and vaccine delivery platforms. Gritstone aims to advance its oncology programs and improve patient outcomes through innovative vaccine technologies.
Gritstone bio reported Q2 2022 financial results with cash reserves at $159.2 million, down from $223.5 million at the end of 2021. Research and development expenses rose to $27.3 million due to increased clinical trial costs. The company highlighted promising data from its CORAL program, showcasing durable neutralizing antibody responses against SARS-CoV-2 for at least six months. Their GRANITE program showed strong overall survival rates in colorectal cancer patients. Gritstone secured an $80 million credit facility, enhancing financial flexibility for upcoming milestones.
Gritstone bio, Inc. (Nasdaq: GRTS) announced the granting of nonqualified stock options for 29,200 shares to three new employees, with an exercise price of $2.68, aligned with the stock's closing price on July 15, 2022. These grants are part of an inducement for hiring, in accordance with Nasdaq Listing Rule 5635(c)(4). The options will vest over four years, with 25% vesting after the first anniversary and the remainder vesting monthly.
Gritstone focuses on developing potent vaccines and is advancing candidates to treat viral diseases and solid tumors.
Gritstone bio, Inc. (Nasdaq: GRTS) announced a conference call on August 4, 2022, at 4:30pm ET to discuss its second quarter 2022 financial results and provide a corporate update. Interested parties can join by calling 800-263-0877 and using the passcode 8108859. The call will also be accessible via a webcast on the company’s website. Gritstone is focused on developing powerful vaccines through innovative vectors and aims to improve patient outcomes in viral diseases and solid tumors.
Gritstone bio (Nasdaq: GRTS) announced a non-dilutive $80 million credit facility with Hercules Capital and Silicon Valley Bank. This facility enhances Gritstone's financial flexibility as it approaches key milestones, including the upcoming data readouts for its SLATE-KRAS candidate. The agreement allows for initial draws of $20 million, with additional funds contingent upon achieving specific milestones. The facility aims to extend the company's cash runway while reducing reliance on capital markets, supporting its innovative vaccine programs targeting cancer and infectious diseases.
Gritstone bio, Inc. (Nasdaq: GRTS) granted eight employees stock options for 67,550 shares at an exercise price of $2.66, equal to the stock's closing price on June 23, 2022. This grant is part of an inducement for new hires, per Nasdaq Listing Rule 5635(c)(4). The options will vest over four years with a 25% vesting after one year and monthly 1/48th thereafter, contingent on continued employment. Gritstone aims to develop potent vaccines, advancing candidates to treat viral diseases and solid tumors to improve patient outcomes.
Gritstone bio (Nasdaq: GRTS) announced promising results from its self-amplifying mRNA (samRNA) vaccine candidate against SARS-CoV-2, published in Nature Communications. The study indicates that the samRNA vaccine induced potent neutralizing antibodies and T cell responses at up to a 10-fold lower dose than first-generation vaccines, demonstrating durable protection in rhesus macaques. The findings support ongoing research into samRNA vaccines for various infectious diseases. Gritstone is advancing its CORAL program with multiple vaccine candidates currently in Phase 1 clinical trials.
Gritstone bio, Inc. (Nasdaq: GRTS) announced the granting of nonqualified stock options to 18 employees, totaling 206,550 shares at an exercise price of $1.85, equivalent to the stock's closing price on the grant date of May 27, 2022. The options will vest over four years, with a quarter vesting after one year and the remainder monthly, contingent on continued employment. This decision is compliant with Nasdaq Listing Rule 5635(c)(4) and is part of Gritstone's strategy to attract talent in the biotechnology sector.
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