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Pipeline Therapeutics announced the appointment of Eef Schimmelpennink to its Board of Directors. With nearly 25 years of experience in the biotechnology sector, he aims to enhance the company’s efforts in neuroregeneration. Schimmelpennink has held prominent roles, including CEO of Pfenex and LENZ Therapeutics. His leadership is expected to advance Pipeline's promising portfolio, which includes two clinical candidates, PIPE-307 and PIPE-505, targeting neurological conditions. This strategic addition to the board could bolster the company's growth trajectory in the biopharmaceutical industry.
Pfenex Inc. (NYSE American: PFNX) will announce its second-quarter financial results for the period ending June 30, 2020, on August 6, 2020, post-market. A conference call and webcast will follow at 1:30 PM PT (4:30 PM ET) to discuss the results and company updates. Pfenex focuses on developing and licensing biopharmaceuticals using its proprietary Pfenex Expression Technology. The company's lead product, Teriparatide Injection, targets osteoporosis and has received regulatory approval in the U.S., with applications pending elsewhere.
Pfenex announced key milestones, including a positive opinion from the CHMP for its biosimilar PF708 (Livogiva), aimed at osteoporosis treatment. This recommendation is a step toward marketing authorization in the EU. Additionally, Pfenex's partner, Adalvo, secured a commercialization agreement in Latin America for PF708. The Serum Institute of India also received its first UNICEF contract for Pneumosil, a pneumococcal vaccine. These advancements underscore Pfenex's focus on expanding its product portfolio and enhancing access to vital medications in emerging markets.
Pfenex Inc. (NYSE American: PFNX) announced the launch of Teriparatide Injection, a new FDA-approved treatment for osteoporosis, in partnership with Alvogen. This product is the first of its kind approved since Forteo and offers a lower-cost alternative for patients at high risk of fractures. Teriparatide Injection has demonstrated comparable bioavailability to Forteo and is indicated for the same patient group. This launch marks a significant milestone for Pfenex, showcasing its capability in protein therapeutics development.
Pfenex Inc. (NYSE American: PFNX) will have its CEO, Eef Schimmelpennink, participate in a virtual fireside chat at the William Blair Growth Stock Conference on June 9, 2020, from 9:20 am to 9:50 am Central Time. The event can be accessed through this link. Pfenex focuses on developing protein therapies using its proprietary Pfenex Expression Technology, with PF708 approved for osteoporosis treatment in the U.S. The company is also advancing other therapies in collaboration with Jazz Pharmaceuticals.
Pfenex Inc. (NYSE American: PFNX) reported a 91% drop in total revenue for Q1 2020, amounting to $0.7 million compared to $7.9 million in Q1 2019. The decline is attributed to prior milestone payments and reduced activity in its product pipeline. Despite this, Pfenex continues to advance its lead programs, including FDA-approved PF708 for osteoporosis, and collaborations with Jazz Pharmaceuticals on PF743 and PF745. The company maintains $65.6 million in cash, expected to cover its needs for at least the next 12 months.
