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Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) is a clinical-stage biotechnology company dedicated to developing novel Anticalin-based drugs. These drugs target specific disease pathways in innovative and transformative ways. The company's proprietary Anticalin proteins are engineered versions of human lipocalins, which naturally bind, store, and transport a wide range of molecules. This unique technology has been validated through clinical trials and partnerships with leading pharmaceutical companies.
Core Business and Products
Pieris specializes in creating a diverse pipeline of Anticalin-based therapeutics. Their current focus areas include:
- Immuno-Oncology: Multi-specifics tailored for the tumor micro-environment, such as PRS-344 targeting PD-L1 and 4-1BB, PRS-346 targeting CD228 and 4-1BB, and PRS-342 targeting GPC3 and 4-1BB.
- Respiratory Diseases: Inhaled Anticalin proteins to treat conditions like uncontrolled asthma, with ongoing projects such as elarekibep, an inhaled IL-4 receptor alpha inhibitor.
- Other Conditions: Including treatment for anemia through half-life-optimized Anticalin proteins.
Recent Achievements and Partnerships
Pieris continues to make significant strides in its research and development efforts. Despite recent setbacks such as AstraZeneca's decision to discontinue studies on elarekibep, Pieris is actively reassessing its corporate priorities and focusing on leveraging its strong partnerships with companies like Roche, Pfizer, Boston Pharmaceuticals, and Servier.
Financial Condition and Strategic Focus
As of June 30, 2023, Pieris reported cash, cash equivalents, and investments totaling approximately $54.9 million. The company has initiated a corporate restructuring to reduce workforce and operational costs, aiming to extend its cash runway. Pieris is also exploring strategic options, including new partnerships and potential acquisitions, to maximize shareholder value.
For more detailed information, visit www.pieris.com.
Pieris Pharmaceuticals announced positive clinical data for cinrebafusp alfa (PRS-343), presented during the AACR annual meeting on April 17, 2023. The Phase 2 study in HER2-positive gastric cancer indicated a 100% unconfirmed objective response rate among the five patients enrolled, showcasing a promising durability profile. The treatment regimen combined cinrebafusp alfa with ramucirumab and paclitaxel and was well-tolerated. All patients achieved a partial clinical response, with three remaining on study. Pieris is exploring various business strategies to continue developing cinrebafusp alfa, including potential partnerships and an immuno-oncology spinout. The company also highlighted ongoing collaborations and forthcoming data read-outs from related bispecific programs.
Pieris Pharmaceuticals (NASDAQ:PIRS) reported its financial results for the fiscal year ending December 31, 2022, alongside updates on its pipeline. The company is advancing clinical programs, including elarekibep for asthma, with data expected mid-2024 due to increased resources from AstraZeneca. PRS-220, targeting idiopathic pulmonary fibrosis, is in Phase 1 studies with results anticipated in H2 2023. Despite a cash decrease to $59.2 million, R&D expenses dropped to $53 million, reflecting cost-effective operations. The net loss narrowed to $33.3 million or $(0.45) per share, down from $45.7 million or $(0.71) per share in 2021.
Pieris Pharmaceuticals (NASDAQ:PIRS) will host its year-end 2022 investor call on March 29, 2023, at 8:00 AM EDT. The call aims to deliver financial results and a corporate update. Interested participants can dial 877-407-8920 for U.S. and Canada or +1 412-902-1010 for international access. A listen-only audio webcast will also be available here. For those unable to attend, a replay will be offered on their website shortly after. Pieris focuses on developing biotherapeutics for respiratory diseases and cancer using its innovative Anticalin® technology.
Pieris Pharmaceuticals (NASDAQ:PIRS) announced a $5 million milestone achieved from Seagen following the dosing of the first patient in a Phase 1 trial of SGN-BB228 (PRS-346), a bispecific antibody-Anticalin molecule. This trial, aimed at assessing safety and tolerability in patients with advanced melanoma and solid tumors, represents a significant step in their collaboration. The study’s results may provide critical clinical insights for future immuno-oncology developments. Pieris retains the option for U.S. co-promotion for one of their partnered programs with Seagen.
Pieris Pharmaceuticals (NASDAQ:PIRS) announced its management presentation at the Evercore ISI HealthCONx Conference on December 1, 2022, at 12:10 PM ET. The conference will focus on the company’s innovative biotherapeutics developed through its proprietary Anticalin technology platform for treating respiratory diseases and cancer. Investors and interested parties can access the presentation via a webcast. Pieris Pharmaceuticals specializes in creating inhalable Anticalin proteins and locally-activated bispecifics, aimed at improving clinical outcomes in patients.
Pieris Pharmaceuticals (NASDAQ:PIRS), a clinical-stage biotechnology firm, will present at the Jefferies London Healthcare Conference on November 15, 2022, at 7:25 AM GMT. The company focuses on developing biotherapeutics using its proprietary Anticalin technology platform for treating respiratory diseases and cancer. A webcast of the presentation will be available here. Pieris combines protein engineering with an understanding of disease drivers to create innovative medicines for improved patient outcomes.
Pieris Pharmaceuticals reported Q3 2022 financial results, highlighting significant advancements in its clinical pipeline. The company continues to enroll patients in its multi-center phase 2a study of elarekibep for asthma, with top-line results expected by Q3 2023. The first subject of the PRS-220 phase 1 study for idiopathic pulmonary fibrosis has been dosed, while the IND for SGN-BB228 has been accepted. Financially, cash reserves are $69.8 million, down from $117.8 million year-over-year, with a net loss of $9.7 million for Q3 2022.
Pieris Pharmaceuticals (NASDAQ:PIRS) announced the initiation of a phase 1 clinical trial for PRS-220, an inhaled Anticalin protein targeting connective tissue growth factor (CTGF) to treat idiopathic pulmonary fibrosis (IPF). The trial aims to assess safety, tolerability, and pharmacokinetics in healthy volunteers. IPF affects over 3 million globally, with a median survival of 3-5 years post-diagnosis. The administration of PRS-220 via inhalation should provide localized, effective inhibition of CTGF compared to systemic methods. Results are expected next year.
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