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Jounce Therapeutics (NASDAQ: JNCE) reported first-quarter 2021 results, showing progress in its clinical trials and a strengthened financial position. As of March 31, 2021, the company held $271.3 million in cash, an increase from $213.2 million at the end of 2020. Key developments include the ongoing enrollment in the Phase 1 INNATE trial for JTX-8064 and the Phase 2 SELECT trial for vopratelimab. Jounce anticipates a gross cash burn of $95 million to $110 million for 2021, with sufficient funds to cover operating expenses through mid-2023.
Jounce Therapeutics (NASDAQ: JNCE) announced the presentation of two trial posters at the ASCO Virtual Annual Meeting from June 4-8, 2021. The Phase 1 INNATE trial poster features JTX-8064, an anti-LILRB2/ILT4 monoclonal antibody, evaluated as both monotherapy and in combination with anti-PD-1 in advanced solid tumors. The Phase 2 SELECT trial poster examines Pimivalimab and Vopratelimab in biomarker-selected metastatic NSCLC patients. Both trials aim to assess the efficacy and safety of these novel immunotherapies in cancer treatment.
Jounce Therapeutics (NASDAQ: JNCE) plans to report its first quarter 2021 financial results and provide a corporate update on May 4, 2021, before market open. A live conference call and webcast are scheduled for 8:00 a.m. ET. Jounce focuses on developing immunotherapies for cancer, with key programs including JTX-8064, currently in Phase 1 trials, and vopratelimab, in a Phase 2 study. The company is advancing its pipeline through a biomarker-driven approach, with recent exclusive licensing of JTX-1811 to Gilead Sciences.
Jounce Therapeutics (NASDAQ: JNCE) announced the appointment of Dmitri Wiederschain, Ph.D., as Chief Scientific Officer. He brings over 15 years of experience in cancer biology and immuno-oncology, previously serving at Sanofi, where he led projects from conception to IND stage. Wiederschain's expertise is expected to bolster Jounce's efforts in developing cancer immunotherapies, including their prioritized program, JTX-8064. He aims to enhance collaboration on proof of concept studies and advance new discovery programs.
Jounce Therapeutics (NASDAQ: JNCE) unveiled new preclinical data on JTX-8064 at the AACR Virtual Annual Meeting. The findings suggest a significant correlation between high intratumoral LILRB2 expression and resistance to PD-(L)1 inhibitors. JTX-8064, designed to enhance T cell activation, may help overcome this resistance. The Phase 1 INNATE trial is set to prioritize tumor-specific cohorts, expected to commence enrollment in the latter half of 2021. The data supports JTX-8064's potential in treating specific tumor types, reinforcing its role in bridging innate and adaptive immunity.
Jounce Therapeutics (Nasdaq: JNCE) has successfully closed its public offering of 5,750,000 common shares at $11.25 each, raising approximately $64.7 million in gross proceeds. The offering included 750,000 shares sold due to the underwriters' full exercise of their option. The shares were offered under a registration statement filed with the SEC. Jounce focuses on developing cancer immunotherapies, including its advanced program JTX-8064, a treatment aimed at reprogramming immune-suppressive macrophages. Cowen and Piper Sandler managed the offering.
Jounce Therapeutics (NASDAQ: JNCE) announced the presentation of preclinical data on its lead program, JTX-8064, at the 2021 AACR Virtual Annual Meeting scheduled for April 10-15, 2021. The data relates to the reprogramming of immune-suppressive macrophages to enhance anti-tumor immunity. JTX-8064 is a humanized monoclonal antibody targeting LILRB2/ILT4, currently undergoing a Phase 1 trial (NCT04669899) for advanced solid tumors. The company emphasizes the potential of JTX-8064 as a novel cancer immunotherapy.
Jounce Therapeutics (Nasdaq: JNCE) has priced a public offering of 5 million shares at $11.25 each, generating approximately $56.25 million in gross proceeds. The funds are aimed at supporting ongoing and planned clinical trials, including the INNATE trial for JTX-8064, along with advancing research and development, and general corporate purposes. The offering is expected to close around March 12, 2021. Underwriters Cowen and Piper Sandler have a 30-day option to purchase up to an additional 750,000 shares.
Jounce Therapeutics (Nasdaq: JNCE) has announced a public offering of its common stock, proceeds of which are aimed at funding ongoing clinical trials, including the INNATE trial for JTX-8064, and for general corporate purposes. All shares will be sold by the company, and the offering is subject to market conditions. The underwriters may purchase an additional 15% of shares. The offering is made under a previously effective shelf registration statement filed with the SEC. Investor contacts for the offering are listed in the release.
Jounce Therapeutics, Inc. (JNCE) reported its financial results for the fourth quarter and full year of 2020, concluding with $213.2 million in cash. The company commenced enrollment in the Phase 1 INNATE trial of JTX-8064 and the Phase 2 SELECT trial of Vopratelimab in combination with JTX-4014. Notably, Jounce recognized $62.3 million in license and collaboration revenue in Q4 2020, attributed to its agreement with Gilead. However, it reported a net loss of $43.8 million for the full year 2020, attributed to increased operating expenses. The company anticipates a cash burn of $95 to $110 million for 2021.
