Leap Therapeutics, Inc. - LPTX STOCK NEWS

Leap Therapeutics (NASDAQ: LPTX) announced the appointment of Richard L. Schilsky, MD, to its Board of Directors, effective September 1, 2022. Dr. Schilsky has over 40 years of experience in cancer research and drug development, previously serving as Chief Medical Officer of ASCO. His expertise is expected to enhance Leap's drug development strategy, particularly for DKN-01, a monoclonal antibody aimed at treating solid tumors. The company continues to advance its pipeline and aims to deliver impactful therapies.

Leap Therapeutics, Inc. (NASDAQ: LPTX) announced promising results from its DisTinGuish study for DKN-01 combined with tislelizumab and CAPOX in first-line gastric cancer, showing a median progression-free survival of 11.3 months. The study demonstrated favorable outcomes for DKK1-high and PD-L1-low subgroups. Additionally, the WAKING study, evaluating DKN-01 with Tecentriq, is ongoing. Safety profiles were consistent, with high overall response rates, particularly in DKK1-high patients. Leap aims to advance DKN-01's clinical development, enhancing treatment standards for advanced gastroesophageal cancers.

Leap Therapeutics, Inc. (NASDAQ: LPTX) reported its Q2 2022 financial results, highlighting significant advancements in clinical trials for its lead product DKN-01. The company initiated Part C of the DisTinGuish study, evaluating DKN-01 alongside BeiGene's tislelizumab in G/GEJ cancer patients. Additionally, a new study in second-line colorectal cancer and an investigator-initiated trial with pembrolizumab were announced. Leap ended Q2 with $90.9 million in cash, providing a financial runway into mid-2024. Net loss for the quarter was $17.0 million, up from $9.5 million a year earlier, primarily due to rising clinical trial costs.

Leap Therapeutics, Inc. (Nasdaq:LPTX) announces the transition of Board member Dr. Monica Bertagnolli, recently appointed as the 16th Director of the National Cancer Institute (NCI), marking the first woman to hold this position since 1937. Effective immediately, Dr. Bertagnolli steps down from Leap's Board, following a commendable tenure. The company expresses pride in her achievement, recognizing her significant contributions to cancer research and leadership. Leap Therapeutics focuses on immuno-oncology therapeutics, notably developing DKN-01 for various cancers in partnership with BeiGene, Ltd.

Leap Therapeutics, in collaboration with BeiGene, announced the initiation of Part C of the DisTinGuish study, evaluating DKN-01 plus tislelizumab and chemotherapy in first-line gastric cancer patients. The study targets about 160 HER2-negative patients whose tumors express high DKK1 levels. Leap is also launching a second-line colorectal cancer trial with DKN-01 and bevacizumab, and supporting a trial in endometrial cancer with pembrolizumab. The company hosted an R&D Day to discuss these advancements and highlight strong preliminary results from previous trials.

Leap Therapeutics, Inc. (Nasdaq: LPTX) has announced a virtual R&D Day scheduled for July 12, 2022, at 12:00 pm ET. The event will feature the executive management team along with key opinion leaders discussing new data related to their lead candidate, DKN-01, a humanized monoclonal antibody targeting the Dickkopf-1 (DKK1) protein. Attendees can access a live webcast via the company's Investors page, where a replay will also be available.

Leap Therapeutics, Inc. (Nasdaq: LPTX) announced that initial clinical data from a Phase 1b/2a study of its anti-DKK1 antibody, DKN-01, will be presented at the ASCO Annual Meeting on June 6, 2022. The study evaluates DKN-01 as a monotherapy and in combination with docetaxel for metastatic castration-resistant prostate cancer (mCRPC). Key findings include no dose-limiting toxicities in any cohort and confirmed partial responses in all patients receiving the combination therapy, particularly in aggressive variant prostate cancer cases.

Leap Therapeutics (Nasdaq:LPTX) reported a net loss of $10.4 million for Q1 2022, up from $9.1 million in Q1 2021, driven by increased clinical trial costs. License revenues dropped to $0 due to the prior recognition of upfront payments. R&D expenses rose to $7.8 million, primarily from clinical trial costs and payroll increases. General and administrative expenses increased slightly to $2.8 million. As of March 31, 2022, the company held $103.2 million in cash and cash equivalents. Positive data from the DisTinGuish Study was presented, showing promising response rates in gastric cancer patients.

Leap Therapeutics (Nasdaq: LPTX) reported its financial results for the fourth quarter and year ended December 31, 2021. The company completed a $103.6 million public offering, yielding net proceeds of $96.8 million. Key clinical data from the DisTinGuish Study demonstrated promising results for DKN-01 in gastric cancer patients. Notably, the overall objective response rate (ORR) was 68%, with 90% in DKK1-high patients. Despite achieving clinical milestones, Leap incurred a net loss of $40.6 million, increasing from $27.5 million in 2020, primarily due to rising R&D expenses.