Vaccinex, Inc. - VCNX STOCK NEWS

Vaccinex, Inc. (Nasdaq: VCNX) announced the closing of a private placement on March 30, 2023, raising $2.04 million by selling 4,975,608 shares at $0.41 per share. Major participants included Dr. Maurice Zauderer, CEO, and Albert D. Friedberg, Chairman, who invested a combined $2.0 million. A commitment for an additional $2.96 million was made by Friedberg's entity, totaling $5.0 million in new financing. Funds will be used for the development of pepinemab, targeted at Alzheimer’s disease and cancer. Detailed terms will be outlined in a future SEC filing.

Vaccinex, Inc. (Nasdaq: VCNX), a clinical-stage biopharmaceutical firm, revealed financial results for Q4 2022 and an update on its key clinical programs. The company is set to complete enrollment for the SIGNAL-AD Alzheimer's study by April 2023, with topline data expected in mid-2024. It also achieved enrollment of 36 patients in the KEYNOTE B84 study for head and neck cancer, anticipating interim analysis results by May 2023. Financially, cash and equivalents totaled $6.4 million as of December 31, 2022, down from $8.6 million in 2021. Research and development expenses decreased from $17.2 million in 2021 to $14.0 million in 2022, while the net loss per share improved from $(0.78) to $(0.47).

Vaccinex Inc. (Nasdaq: VCNX) is showcasing insights on pepinemab's action mechanism against neurodegenerative diseases at the AAIC Advancements: Immunity conference on March 24, 2023. COO Elizabeth Evans will discuss findings on semaphorin 4D's (SEMA4D) role in Huntington’s Disease and Alzheimer’s Disease.

The ongoing clinical trial, SIGNAL AD, is pivotal, with topline data expected in mid-2024. The presentation emphasizes targeting neuroinflammation as a novel treatment approach. Vaccinex's innovative strategy aims to inhibit SEMA4D to combat chronic neurodegenerative conditions.

Vaccinex, Inc. (Nasdaq: VCNX) announced a Phase Ib/2 study evaluating pepinemab in combination with avelumab for patients with metastatic pancreatic adenocarcinoma (PDAC). The trial, conducted at the University of Rochester, aims to assess safety and efficacy in overcoming the immunosuppressive tumor microenvironment. Sponsored by Vaccinex and supported by the Gateway Discovery Award, the study is critical given PDAC's low 5-year survival rate of 5-10%. It focuses on enhancing immune response by reversing immunosuppression within the tumor microenvironment. Pepinemab's favorable safety profile in earlier studies could offer new treatment hope for PDAC patients.

Vaccinex, Inc. (Nasdaq: VCNX) has enrolled 36 subjects in the Phase 1b/2 KEYNOTE-B84 study to evaluate pepinemab combined with Merck's KEYTRUDA for treating recurrent or metastatic head and neck squamous cell carcinoma (R/M HNSCC). An interim analysis is planned upon completion of tumor assessments, with results expected in mid-2023. The study aims to determine the safety and efficacy of this combination therapy, particularly in patients with low PD-L1 expression. Pepinemab is noted for its potential to enhance immune responses while maintaining safety profiles associated with KEYTRUDA.

Vaccinex, Inc. announced that its licensee, Surface Oncology, has initiated a Phase 1/2 clinical trial for SRF114, an antibody discovered using Vaccinex’s ActivMAb® platform. This is a significant milestone as it validates the ActivMAb® technology. SRF114 targets CCR8 to selectively deplete immuno-suppressive tumor T regulatory cells, potentially positioning it as a best-in-class therapy for advanced solid tumors. Under the licensing agreement, Vaccinex stands to benefit from milestone payments and royalties on sales.

Vaccinex, Inc. (Nasdaq: VCNX) has closed a private placement of 7,142,496 shares at $0.5293 per share, raising approximately $3.8 million. The deal, completed on November 23, 2022, involved major investors from within the company's leadership team, who collectively bought $2.9 million in shares. The funds will support ongoing development and clinical trials of pepinemab, its lead drug candidate, targeting cancer and neurodegenerative diseases. A registration rights agreement has been established, allowing for the resale of shares under a future registration statement.

Vaccinex, a clinical-stage biotechnology firm, reported progress on its clinical programs for pepinemab, a SEMA4D inhibitor. The Phase 1b/2 KEYNOTE B84 study with KEYTRUDA® in head and neck cancer shows promising initial responses, with confirmed complete responses observed in patients with low PD-L1 expression. Financially, Vaccinex reported a net loss of $4.8 million for Q3 2022, a slight decrease from the previous year. The company aims to meet with the FDA regarding the use of HD-CAB as a potential surrogate endpoint to accelerate the approval process for Huntington's Disease treatment.

Vaccinex Inc. (Nasdaq: VCNX) announced promising findings regarding its drug pepinemab at the SITC 37th Annual Meeting. Two studies highlighted the drug's potential when combined with immunotherapy for treating Stage III melanoma and HER2+ metastatic breast cancer. Results showed a remarkable 100% recurrence-free rate after 24 months for patients treated with a triple combination of pepinemab, nivolumab, and ipilimumab. The findings underline the importance of biomarkers in determining treatment efficacy and the drug's capacity to enhance immune responses. Vaccinex is also pursuing further studies, including a Phase 1b/2 trial.