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Molecular Partners AG (NASDAQ: MOLN) is a clinical-stage biopharmaceutical company headquartered in Zurich-Schlieren, Switzerland, with an additional office in Concord, Massachusetts. The company specializes in the development of DARPin therapeutics, a new class of custom-built protein drugs designed to tackle complex diseases such as cancer and sight-threatening disorders.
Molecular Partners has a diversified product pipeline focusing primarily on oncology and ophthalmology. In the field of oncology, the firm is advancing multiple DARPin candidates including MP0533, a novel tetra-specific T cell-engaging DARPin for acute myeloid leukemia, which is currently in Phase 1/2a clinical trials. The company's latest innovation, the Switch-DARPin platform, aims to deliver multispecific candidates for conditional activation of targeted immune responses. Another exciting area of development is the Radio-DARPin Therapy (RDT) platform, which uses DARPin technology to enhance tumor uptake and reduce kidney reabsorption of radiopharmaceutical drugs, with lead candidate MP0712 targeting DLL3 in small-cell lung cancer.
On the ophthalmology front, Molecular Partners is developing therapies for retinal diseases, including wet age-related macular degeneration and diabetic macular edema. The firm's dedication to innovation is further evidenced by its strategic collaborations with prominent pharmaceutical companies such as Novartis and Orano Med.
Financially, the company reported CHF 186.9 million in cash and short-term deposits as of year-end 2023 and maintains a strong cash runway well into 2026. Despite a net loss of CHF 62 million for 2023, Molecular Partners continues to invest in its robust pipeline and transformative research initiatives.
Recent news highlights Molecular Partners' presentation at the 42nd Annual J.P. Morgan Healthcare Conference where they provided a business overview and 2024 outlook. The company anticipates significant milestones in 2024, including further clinical data from its lead oncology program MP0533 and progression of its RDT and Switch-DARPin platforms.
For more information, visit www.molecularpartners.com, or follow them on LinkedIn and X @MolecularPrtnrs.
ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., May 12, 2022 - Molecular Partners (SIX: MOLN; NASDAQ: MOLN) announced its interim management statement for Q1 2022, showcasing a strong cash position of CHF 296.2 million and revenue of CHF 172.8 million, largely from Novartis's exercise of its option for ensovibep. Positive Phase 2 results for ensovibep demonstrated a 78% reduction in hospitalization risks. The company is advancing its internal pipeline, including new candidates MP0310 and MP0533, and is expected to be funded into 2026.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech firm specializing in DARPin therapeutics, will participate in two investor events in May. The company is set to publish its Q1 2022 earnings report on May 12, 2022, after NASDAQ trading hours. Key events include the RBC Capital Markets Global Healthcare Conference from May 17-18, featuring a fireside chat on May 17 at 9:00 am ET, and BioEquity Europe 2022 with virtual meetings on May 23-24. Presentations will be available online.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) announced that CEO Patrick Amstutz has been elected President of the Swiss Biotech Association. This leadership change signifies a commitment to fostering collaboration within the biotech sector, especially in response to global medical needs. Dr. Amstutz aims to support the growth of the Swiss biotech ecosystem, emphasizing the importance of innovation. He succeeds Dominik Escher, who held the position for 20 years. The announcement coincided with Dr. Amstutz's participation in a panel discussion on pandemic response strategies.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) announced the return of global rights for MP0310 from Amgen following a strategic review. MP0310, targeting FAP and 4-1BB, is currently in a Phase 1 trial, with full data expected later this year. Initial results show promise in activating immune responses in tumor microenvironments. This collaboration, started in December 2018, included a $50 million upfront payment, but no further clinical studies are planned until discussions with potential new partners post-trial completion.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) provides an update following Novartis' quarterly earnings call, where CEO Vas Narasimhan mentioned that the Emergency Use Application (EUA) for ensovibep requires additional clinical data for FDA authorization. The ongoing omicron wave complicates clinical investigations. Novartis is coordinating with the FDA to design a potential Phase 3 study to gather necessary data for EUA or full approval. Molecular Partners continues to develop its DARPin therapeutics in collaboration with major pharmaceutical companies.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) announced that late-breaker data from the EMPATHY study of ensovibep will be presented at the 32nd European Congress of Clinical Microbiology and Infectious Diseases in Lisbon from April 23-26, 2022. Dr. N. Kumarasamy will present interim results from the phase II/III study focused on mild-to-moderate COVID-19 patients. Additionally, a symposium on COVID-19 variants and DARPin therapeutic efficacy will occur on April 26, featuring insights from Novartis and Molecular Partners' executives.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company, announced participation in the Kempen Life Sciences investor conference on April 20-21, 2022. CFO Andreas Emmenegger and COO Michael Stumpp will present on April 20 at 16:30 CET (10:30 AM EDT). The company focuses on developing DARPin therapeutics, a new class of custom-built protein drugs aimed at addressing unmet medical needs in areas like infectious disease and oncology. More details will be available on the Molecular Partners website.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) announced that all shareholder motions were approved during its recent Annual General Meeting. Key outcomes included the re-election of the Board of Directors, with Bill Burns remaining as Chairman. KPMG AG Zurich was confirmed as statutory auditors for 2022. Shareholders authorized the Board to increase share capital until April 2024 and approved the annual financial statements for 2021. The meeting was conducted virtually due to COVID-19 regulations, without physical attendance.
Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) announced significant preclinical findings for MP0317, its second immuno-oncology candidate, published in Cancer Immunology Research. MP0317 targets FAP and CD40 to foster localized immune activation in tumors while minimizing systemic toxicity. The study demonstrates that MP0317 effectively induces tumor-localized immune activation, potentially offering a wider therapeutic window compared to traditional CD40-targeting therapies. Currently undergoing a Phase 1 clinical trial, initial results are anticipated in late 2022.
Molecular Partners AG (SIX: MOLN, NASDAQ: MOLN) has announced the details of its Annual General Meeting (AGM) scheduled for April 13, 2022, at 2 PM CET. The meeting will be held virtually due to ongoing pandemic concerns, allowing shareholders to participate only through written or electronically submitted instructions to an independent proxy. Key upcoming financial events include the Interim Management Statement Q1 2022 on May 12, 2022, and Half-year results 2022 on August 25, 2022. Molecular Partners is focused on developing DARPin therapeutics for various medical applications.
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