TRACON Pharmaceuticals Provides Positive Update on Ongoing ENVASARC Pivotal Phase 2 Trial
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Insights
The recent update from TRACON Pharmaceuticals regarding the Phase 2 ENVASARC trial for envafolimab, a novel targeted cancer therapeutic, indicates a progression in the clinical trial phase with an increase in the Objective Response Rate (ORR) to 15% by investigator review. This is an essential metric in oncology trials as it measures the proportion of patients whose cancer shrinks or disappears after treatment.
While the increase in ORR is modest, it is significant for refractory sarcoma subtypes such as UPS and MFS, which currently have limited treatment options. The safety profile of envafolimab is also noteworthy, with no reported grade > 3 related toxicity, suggesting a potentially favorable risk-benefit ratio for patients.
Investors and stakeholders should note that the primary endpoint is an ORR of 11.25% by blinded independent central review (BICR), with a median duration of response of greater than six months. These data points are crucial for regulatory approval and market adoption, should the drug receive FDA approval. The brisk enrollment pace reflects the high unmet need, potentially leading to expedited completion of the trial and earlier-than-expected data readouts.
Envafolimab's performance in the ongoing ENVASARC trial is of particular interest within the oncology community. The reported ORR improvement, although preliminary, is an important indicator of efficacy for this patient population. However, the confirmation by BICR is pending, which is critical for validating the ORR increase.
For patients with UPS and MFS, the refractory sarcoma subtypes, advancements in treatment options are imperative. The tolerability of envafolimab, coupled with its efficacy data, could represent a significant advancement in the therapeutic landscape for these conditions.
The long-term implications for patient care hinge on the final data and subsequent FDA review. The medical community will be closely monitoring the completion of the trial and the durability of the response, which is an important factor in cancer treatment efficacy.
From a financial perspective, TRACON Pharmaceuticals' update on the ENVASARC trial results could have material implications for the company's valuation. The increase in ORR and positive safety profile may attract investor interest, as these factors are critical for the drug's commercial potential.
However, investors should consider the risk of regulatory hurdles and the fact that the drug is still in the clinical trial phase, with final data expected in 3Q 2024. The market potential for envafolimab will depend on the final trial results, regulatory approval and the competitive landscape at the time of potential market entry.
It is also important to note the specificity of the treatment to refractory sarcoma subtypes, which may limit the total addressable market. Nonetheless, a positive outcome could position TRACON for strategic partnerships or acquisition, given the high unmet need in this therapeutic area.
Objective Response Rate by investigator review increased to
Full ENVASARC enrollment expected in 1Q 2024 and final data anticipated during 3Q 2024
SAN DIEGO, Dec. 20, 2023 (GLOBE NEWSWIRE) -- TRACON Pharmaceuticals (NASDAQ: TCON), a clinical stage biopharmaceutical company utilizing a cost-efficient, CRO-independent product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies, today announced that the ongoing pivotal Phase 2 ENVASARC trial has enrolled more than 70 of the 80 planned patients in Cohort C of single agent envafolimab treatment at a dose of 600 mg subQ every three weeks.
Additional safety and efficacy data were reviewed for 46 patients enrolled into cohort C who were the subject of the September independent data monitoring committee (IDMC) review. At that time, patients had completed a minimum of 12 weeks of efficacy evaluations and the objective response rate (ORR) was
“We continue to believe that these data position envafolimab to become a potentially compelling treatment option for patients with the refractory sarcoma subtypes of UPS and MFS based on the ORR and tolerability data to date,” said Charles Theuer, M.D., Ph.D., TRACON’s Chief Executive Officer. “ENVASARC enrollment continues to be brisk, reflecting the high unmet need that exists for these patients.”
Updated safety and efficacy data are expected in 1Q 2024, including in the more than 20 patients enrolled following the September IDMC review who will have had a minimum of 12 weeks of efficacy evaluations (two CT scans) at that time.
The primary endpoint of the ENVASARC study is achievement of an ORR in nine of 80 patients (
About Envafolimab
Envafolimab (KN035), a single-domain antibody against PD-L1 invented by Alphamab Oncology and licensed by TRACON, is the first approved subcutaneously injected PD-(L)1 inhibitor. Envafolimab was approved by the Chinese NMPA in November 2021 in adult patients with MSI-H/dMMR advanced solid tumors who failed systemic treatment and have no satisfactory alternative treatment options. In December 2019, Alphamab Oncology, 3D Medicines and TRACON entered into a collaboration whereby TRACON has the right to develop and commercialize envafolimab in soft tissue sarcoma in North America. Envafolimab is currently being studied in the ENVASARC Phase 2 pivotal trial in the United States sponsored by TRACON and a Phase 3 pivotal trial in combination with gemcitabine and oxaliplatin in advanced biliary tract cancer patients in China sponsored by TRACON’s corporate partners, Alphamab Oncology and 3D Medicines. TRACON has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for envafolimab for patients with soft tissue sarcoma and fast track designation from the FDA for envafolimab for patients with locally advanced, unresectable or metastatic undifferentiated pleomorphic sarcoma (UPS) and myxofibrosarcoma (MFS) who have progressed on one or two prior lines of chemotherapy.
About ENVASARC (NCT04480502)
The ENVASARC Phase 2 pivotal trial is a multicenter, open label, randomized, non-comparative, parallel cohort study at 30 top cancer centers in the United States and the United Kingdom that began dosing in December 2020. ENVASARC is enrolling patients with UPS or MFS who have progressed following one or two lines of prior treatment and have not received an immune checkpoint inhibitor. In Cohort C, a total of 80 patients will receive treatment with single agent envafolimab at 600 mg every three weeks. The primary endpoint is objective response rate by central review with duration of response a key secondary endpoint.
About TRACON
TRACON is a clinical-stage biopharmaceutical company utilizing a cost-efficient, CRO-independent, product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies. The Company’s clinical-stage pipeline includes: Envafolimab, a PD-L1 single-domain antibody given by rapid subcutaneous injection that is being studied in the pivotal ENVASARC trial for sarcoma; YH001, a potential best-in-class CTLA-4 antibody in Phase 1 development; and TRC102, a Phase 2 small molecule drug candidate for the treatment of lung cancer. TRACON is actively seeking additional corporate partnerships through a profit-share or revenue-share partnership, or through franchising TRACON’s product development platform. TRACON believes it can serve as a solution for companies without clinical and commercial capabilities in the United States or who wish to become CRO-independent. To learn more about TRACON and its product pipeline, visit TRACON’s website at www.traconpharma.com.
Forward-Looking Statements
Statements made in this press release regarding matters that are not historical facts are “forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward‐looking statements. Such statements include, but are not limited to, statements regarding TRACON’s expectations for the timing and scope of its ENVASARC Phase 2 pivotal trial as well as TRACON’s expectation for achievement of expected endpoints and goals, the availability and expected results of clinical data and the timing of future reviews of data by BICR, continued timely accrual in the ENVASARC Phase 2 pivotal trial, and the potential for envafolimab to become a treatment option. Risks that could cause actual results to differ from those expressed in these forward‐looking statements include: risks associated with clinical development and regulatory approval of pharmaceutical product candidates, including that the ENVASARC Phase 2 pivotal trial may not achieve its primary and secondary endpoints; risks relating to cost variability of clinical trials; whether other therapies are developed and compete with TRACON’s product candidates; whether TRACON or others will be able to complete (including the ENVASARC Phase 2 pivotal trial) or initiate clinical trials on TRACON’s expected timelines, if at all, including due to risks associated with clinical, macroeconomic and geopolitical events; the fact that future clinical results may not be consistent with preliminary results or results from prior studies; the fact that TRACON has limited control over whether or when third party collaborators complete on-going trials, initiate additional trials or seek regulatory approval of TRACON’s product candidates; the fact that TRACON’s collaboration agreements are subject to early termination; whether TRACON will be able to enter into additional collaboration agreements on favorable terms or at all; potential changes in regulatory requirements in the United States and foreign countries; TRACON’s reliance on third parties for the development of its product candidates, including the conduct of its clinical trials and manufacture of its product candidates; whether TRACON will be able to obtain additional financing on favorable terms or at all; and other risks described in TRACON’s filings with the Securities and Exchange Commission under the heading “Risk Factors”. All forward‐looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. TRACON undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made except as required by law.
| Company Contact: | Investor Contact: |
| Charles Theuer | Brian Ritchie |
| Chief Executive Officer | LifeSci Advisors LLC |
| (858) 550-0780 | (212) 915-2578 |
| ctheuer@traconpharma.com | britchie@lifesciadvisors.com |
FAQ
What is the objective response rate (ORR) for TRACON Pharmaceuticals' envafolimab treatment?
When is the full ENVASARC enrollment expected for TRACON Pharmaceuticals?
What is the primary endpoint of the ENVASARC study for TRACON Pharmaceuticals?
