Recent Corporate Highlights
•Announced results of the first interim analysis from the phase 2/3 FOCUS Study of CA4P in platinum-resistant ovarian cancer.
•Expect results from the second interim analysis (n=40) of the FOCUS Study in
•Presented data from phase 2 monotherapy study in neuroendocrine tumors (NETs) and announced initiation of an investigator-sponsored phase 1 clinical trial in NETs using CA4P in combination with everolimus (AFINITOR®).
•Announced data from the third cohort of phase 1b study of OXi4503 in patients with relapsed/refractory acute myeloid leukemia (AML), showing that one patient (25%) in the cohort had a complete remission and two other patients demonstrated evidence of AML blast reduction following one cycle.
"I am excited about the progress we are making in both our CA4P and OXi4503 clinical development programs, including initial indications of efficacy for each of these investigational drugs," stated
Financial Results for the First Quarter of 2017
For the three months ended
At Mateon, we believe that we can significantly improve cancer therapy by employing these two complementary approaches simultaneously. When utilized this way, VDAs obstruct existing blood vessels in the tumor leading to significant central tumor cell death while AAs prevent the formation of new tumor blood vessels.
Mateon is committed to leveraging our intellectual property and the product development expertise of our highly skilled management team to enable VTT to realize its true potential and to bring much-needed new therapies to cancer patients worldwide.
Safe Harbor Statement
Certain statements in this news release, including, but not limited to, those concerning the advancement of CA4P and OXi4503, the results of clinical trials, the potential significance of this data and its relation to other clinical and
pre-clinical studies, and timing for the results from the second interim analysis of the FOCUS Study are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They can be affected by inaccurate assumptions Mateon might make or by known or unknown risks and uncertainties, including, but not limited to: the Company's need to raise additional funds in the near term to conduct and complete its clinical and pre-clinical trials; the uncertainties as to the future success of ongoing and planned clinical trials; and the unproven safety and efficacy of products under development or that may be developed in the future. Consequently, no forward-looking statement can be guaranteed, and actual results may vary materially. Additional information concerning factors that could cause actual results to materially differ from those in the
forward-looking statements is contained in Mateon's reports to the
|Balance Sheet Data (in thousands)|
|Cash and short-term investments||$||8,344||$||12,047|
|Prepaid clinical trial expenses||1,542||1,946|
|Liabilities and stockholders' equity|
|Accounts payable and accrued liabilities||1,393||1,614|
|Total stockholders' equity||8,782||12,500|
|Total liabilities and stockholders' equity||$||10,175||$||14,114|
|Income Statement Data (in thousands, except per share amounts) (unaudited)|
|Three months ended |
|Research and development||$||2,848||$||1,980|
|General and administrative||1,122||1,372|
|Total operating expenses||3,970||3,352|
|Loss from operations||(3,970||)||(3,352||)|
|Other expense, net||(2||)||(1||)|
|Basic and diluted net loss per share attributable to common stock||$||(0.15||)||$||(0.13||)|
|Weighted-average number of common shares outstanding||26,545||26,545|
PCG Advisory Group Stephanie Prince, Managing Director firstname.lastname@example.org 646-762-4518 Media: JPA Health Communications Nic DiBellanic@jpa.com 617-945-5183
News Provided by Acquire Media