Magenta Therapeutics, Inc. - MGTA STOCK NEWS

Magenta Therapeutics (Nasdaq: MGTA) announced the adoption of a limited duration stockholder rights plan to maximize shareholder value. This plan allows the Board to conduct a comprehensive strategic review, ensuring that all stakeholders can participate fairly. The plan is designed to prevent any individual or group from gaining control through aggressive market tactics. Key features include a one-year expiration and protections for all shareholders. A preferred stock purchase right will be distributed to stockholders of record by April 11, 2023, enabling them to benefit should the rights become exercisable due to significant ownership changes.

Magenta Therapeutics (Nasdaq: MGTA) has announced a halt on the development of its programs following a comprehensive business review. The company plans to conduct a strategic alternatives review aimed at maximizing shareholder value. Options under consideration include mergers, acquisitions, or other transactions. No timeline for the review process has been set, and there is no guarantee that a transaction will occur or be completed under favorable terms. The decision underscores potential challenges in the capital markets for biotech firms and the necessity to reassess its operational strategy.

Magenta Therapeutics (Nasdaq: MGTA) has paused dosing in its ongoing Phase 1/2 clinical trial of MGTA-117 after a participant experienced a Grade 5 Serious Adverse Event resulting in death, potentially related to the treatment. This incident has been reported to the FDA as a Suspected Unexpected Serious Adverse Reaction. The company is evaluating available data with its safety review committee to determine the next steps for MGTA-117's development. Magenta is focused on advancing stem cell transplantation therapies for blood cancers and other serious diseases.

Magenta Therapeutics has halted dosing in Cohort 4 of the MGTA-117 Phase 1/2 clinical trial for acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) due to the occurrence of dose-limiting toxicities (DLTs). Three participants were dosed, with Grade 4 Serious Adverse Events observed in two. Moving forward, the company plans to dose additional participants in Cohort 3 where no DLTs were reported previously. The FDA has been informed about the DLT events. Magenta remains optimistic about the benefit/risk profile at the Cohort 3 level.

Magenta Therapeutics (Nasdaq: MGTA) has reported preliminary results from its ongoing Phase 1/2 clinical trial of MGTA-117, showing single-agent activity without dose-limiting toxicities. Out of 15 patients treated, 11 completed the safety observation period. Notably, two participants became eligible for transplant after treatment. The company plans to transition MGTA-117 to transplant-eligible patients in AML and MDS and is progressing with CD45-ADC studies and MGTA-145 for sickle cell disease. Regulatory engagements are ongoing, with data updates expected in H1 2023.

Magenta Therapeutics (Nasdaq: MGTA) will host a conference call on December 13, 2022, at 8:30 a.m. ET to discuss data from its ongoing Phase 1/2 clinical trial for MGTA-117. This trial focuses on an Anti-CD117 antibody-drug conjugate for treating relapsed/refractory adult acute myeloid leukemia (AML) and myelodysplasia. Initial findings related to safety, pharmacokinetics, and pharmacodynamics will be presented at the 2022 ASH Annual Meeting on the same day at 4:30 p.m. ET. Magenta aims to leverage stem cell transplants for a broader range of patients.

Magenta Therapeutics (Nasdaq: MGTA) announced three significant presentations regarding its clinical trials at the 2022 American Society of Hematology Annual Meeting from December 10-13, 2022. The oral presentation will cover initial findings from the Phase 1/2 trial of MGTA-117, targeting relapsed/refractory acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). The poster presentations will discuss pharmacokinetic data from a non-human primate study and MGTA-145's role in mobilizing stem cells in sickle cell disease patients. Both programs aim to enhance the efficacy of stem cell transplants.

Magenta Therapeutics reported Q3 2022 financial results, highlighting significant progress in the MGTA-117 Phase 1/2 clinical trial, which is now in its third dose escalation cohort. The company has $128.3 million in cash, expected to fund operations into Q2 2024. Research and development expenses rose to $11.2 million, while general and administrative costs decreased to $6.1 million. Net loss for the quarter was $16.1 million. Upcoming presentations at the ASH meeting in December 2022 will showcase new clinical data for MGTA-117 and CD45-ADC, alongside updates on the MGTA-145 trial in sickle cell disease.

Magenta Therapeutics (Nasdaq: MGTA), a clinical-stage biotechnology firm, will present at the Credit Suisse 31st Annual Healthcare Conference from November 7-10, 2022. Their presentation is scheduled for November 8, 2022, at 8:00 AM PT and will be accessible via a webcast on their website. The replay will be available for 30 days post-event. Magenta focuses on developing innovative medicines aimed at expanding the curative potential of stem cell transplants for patients with blood cancers, genetic disorders, and autoimmune diseases.