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Targovax’s interim report Q1 2016

targovax board of directors

Targovax’s interim report of the first quarter 2016 shows promising data and the funding situation is satisfactory comments the company’s CEO.

Targovax has dring the first quarter showed promising data for interim survival analysis of a first cohort of the ongoing open label, phase I/II of TG01/GM-CSF and gemcitabine in patients with resected pancreatic cancer. They have conducted an interim DTH immunological response of a second cohort of the same trial, supporting results from the first cohort and progression in preparations of five new combination clinical trials, according to plan. All studies are in process of being set up. Submissions to competent authorities and ethical committees initiated.

The first quarter 2016 had operating expenditures of NOK 31 million and current cash holdings of NOK 141 million with secure funding throughout 2H 2016.
During the first quarter of 2016, Targovax identified promising data from an interim survival analysis of a first cohort and conducted an interim DTH immunological response evaluation of a second cohort of a phase I/II combination study of TB01/GM-CSF and gemcitabine(chemotherapy). The interim analysis in March indicated promising 1-year overall survival data when combining TG01 with gemcitabine as supplementary treatment of patients with pancreatic cancer, while the response evaluation in April showed that the modified and reduced vaccination schedule generates similar 8-week immune responses in patients with pancreatic cancer, as seen in the initial cohort.

Preparation of new combination clinical trials progressed according to plan, and by the end of first quarter, five new studies are in the process of being set up.

“I am satisfied with development in the first quarter. We manage to keep a lean operation while progressing our clinical program according to plan. Our funding situation is satisfactory, as we have funding through 2016 and even into 2017 by adjusting our current operating model”, says CEO Gunnar Gårdemyr.

 

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