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Molecular Templates, Inc. (Nasdaq: MTEM) is a clinical-stage biopharmaceutical company dedicated to the discovery and development of targeted therapeutics for oncology. The company leverages its innovative proprietary platform, engineered toxin bodies (ETBs), which are designed to selectively target and kill tumor cells, offering a novel approach to cancer treatment.
MTEM's leading immunotoxin, MT-3724, is in clinical development for non-Hodgkin's lymphoma. In addition to MT-3724, the company's robust pipeline includes MT-6402, targeting PD-L1, and MT-8421, targeting CTLA-4, both aimed at different forms of cancer. MT-0169, another advanced candidate, targets CD38 and is being developed for potential use in various oncology indications.
Recently, MTEM announced significant progress in its clinical trials. The first patient has been dosed in a Phase 1 clinical trial of MT-8421 for the treatment of advanced solid tumors. This study is a multi-center, open-label, dose-escalation trial designed to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of MT-8421. The trial will enroll patients with tumors where CTLA-4 inhibitors have shown benefits, including melanoma, hepatocellular carcinoma, non-small cell lung cancer, and others.
MT-6402, another promising candidate, has shown encouraging results in Phase 1 studies, particularly in heavily pre-treated head and neck cancer patients. The drug demonstrated objective responses and evidence of tumor regression in patients who had progressed on multiple lines of treatment.
Financially, MTEM reported third-quarter 2023 revenues of $6.8 million, reflecting a notable increase from the previous year, driven primarily by collaborative research and development agreements. However, the company continues to operate at a net loss, with efforts focused on reducing operational costs and extending its cash runway into the second quarter of 2024.
Molecular Templates (MTEM) provided a corporate update emphasizing significant achievements in 2021 and anticipated milestones for 2022. Notable highlights include the ongoing Phase I study of MT-6402, which has shown promising early pharmacodynamic effects without dose-limiting toxicities. The company also advanced its pipeline with MT-5111 and MT-0169, targeting HER2 and CD38, respectively, both undergoing Phase I trials. An IND for the CTLA-4 program is expected in the second half of 2022, while the company maintains a cash runway into the fourth quarter of 2023.
Molecular Templates (Nasdaq: MTEM) announced that the FDA has granted Fast Track Designation for its drug MT-6402, aimed at treating patients with advanced non-small cell lung cancer (NSCLC) expressing PD-L1. This designation allows closer communication with the FDA during the ongoing clinical trials, which are currently in Phase I. MT-6402 represents a new generation of engineered toxin bodies, designed to enhance anti-tumor effects compared to existing PD-L1 therapies. The company believes this breakthrough addresses a critical unmet need in cancer treatment.
Molecular Templates (MTEM) reported Q3 2021 financial results with a net loss of $30.4 million, or $0.54 per share, compared to $23.2 million, or $0.47 per share, in Q3 2020. Revenue declined to $2.4 million from $4.3 million year-over-year. Key developments included initiating clinical studies for MT-6402 and continuing enrollment in MT-0169. The company maintains a strong cash position of $175.4 million, expected to fund operations through mid-2023.
AUSTIN, Texas, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Molecular Templates (Nasdaq: MTEM) will participate in the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit, scheduled for September 20-23, 2021. Dr. Eric Poma, CEO and CSO, is set to present on September 20 at 4:35 PM ET. The presentation will showcase the company’s focus on engineered toxin bodies (ETBs), innovative therapies targeting cancer and serious diseases. Investors can access the webcast at this link.
Molecular Templates (Nasdaq: MTEM) reported its second-quarter 2021 financial results, achieving revenues of $15.1 million, up from $6.9 million in Q2 2020. The net loss decreased to $15.6 million, compared to $31.2 million in the same period last year. Key developments include the initiation of clinical trials for MT-6402 and the full rights acquisition of TAK-169 from Takeda. The company plans further updates on ongoing studies in Q4 2021 and expects to maintain cash reserves of $200.7 million to fund operations through mid-2023.
Molecular Templates (MTEM) announced the dosing of the first subject in a Phase 1 study of MT-6402, targeting PD-L1-positive solid tumors. This study aims to evaluate a third generation engineered toxin body (ETB) developed to exploit the PD-1/PD-L1 axis. The trial will initiate a dose escalation and expansion process, starting at 16 mcg/kg. MT-6402 has shown promise in preclinical studies, effectively targeting and killing PD-L1 expressing cells, potentially overcoming limitations of existing therapies. An update on the study's progress is expected by year-end 2021.
Molecular Templates, Inc. (Nasdaq: MTEM) has announced a corporate update and will participate in 1-on-1 investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference on July 13-14, 2021. The presentation is scheduled for Tuesday, July 13, 2021, at 4:00 PM ET. Investors can access a live webcast of the presentation on the MTEM website, with a replay available afterward. The company focuses on developing engineered toxin bodies (ETBs), aimed at providing targeted therapeutics for cancer and other serious diseases.
Molecular Templates (Nasdaq: MTEM) reported Q1 2021 results showing a net loss of $26.8 million or $0.51 per share, compared to a loss of $22.0 million or $0.48 per share in Q1 2020. Revenues fell to $3.2 million from $4.1 million. The company is focusing on its pipeline of next-generation engineered toxin bodies (ETBs) and has assumed full rights to TAK-169 from Takeda, while discontinuing MT-3724. Significant milestones include a $70 million upfront payment from Bristol Myers Squibb and ongoing clinical trials for MT-5111 and TAK-169. Cash reserves are $207.4 million, funding operations into H2 2023.
Molecular Templates (Nasdaq: MTEM) announced the presentation of three posters at the AACR Virtual Annual Meeting I featuring data on its drug candidates MT-5111, MT-6402, and a novel CTLA-4-targeted ETB. Key findings for MT-5111 indicate that it has been well tolerated in a Phase 1 study with no dose limiting toxicities observed thus far. The company plans to initiate a HER2+ breast cancer expansion cohort in 2Q21. Additionally, MT-6402's IND filing has been accepted by the FDA, with its first-in-human study expected to begin dosing in 2Q21.
Molecular Templates (MTEM) has assumed full rights to TAK-169, a second-generation engineered toxin body (ETB) targeting CD38 for multiple myeloma, from Takeda. The decision to take control is part of Takeda’s portfolio prioritization. Concurrently, MTEM has discontinued the development of MT-3724, the first-generation ETB, due to a partial clinical hold by the FDA following a fatality in trials. MTEM aims to focus on developing next-generation ETBs, including MT-5111 and MT-6402, to generate better efficacy and safety profiles.
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