SEATTLE and SOUTH SAN FRANCISCO, May 10, 2016 (GLOBE NEWSWIRE) -- Immune Design (Nasdaq:IMDZ), a clinical-stage immunotherapy company focused on oncology, today reported financial results and a corporate review for the first quarter ended March 31, 2016.
"During the first quarter, we progressed both clinical product development and discovery research activities," said Carlos Paya, M.D., Ph.D., president and chief executive officer of Immune Design. "We continued to enroll patients in randomized Phase 2 studies evaluating both of our lead immuno-oncology product candidates, CMB305 and G100, and we are initiating activities in the emerging field of neoantigen-based personalized therapies."
Product Development Progress
Specific Antigen Approach: Targeting NY-ESO-1 positive Soft Tissue Sarcomas
Intratumoral Immune Activation Approach: Evaluation in Merkel cell carcinoma (MCC), Sarcoma and follicular non-Hodgkin Lymphoma (fNHL)
New Clinical Collaboration targeting Neoantigens with Gritstone Oncology
Research Activities Progress
Conference Call Information
Immune Design will host a conference call and live audio webcast this afternoon at 1:30 p.m. Pacific time / 4:30 p.m. Eastern time to discuss the first quarter 2016 financial results and provide a corporate update.
The live call may be accessed by dialing 844-831-3023 for domestic callers and 920-663-6275 for international callers. A live webcast of the call will be available online from the investor relations section of the company website at http://ir.immunedesign.com/events.cfm and will be archived there for 90 days. A telephone replay of the call will be available for five days by dialing 855-859-2056 for domestic callers or 404-537-3406 for international callers and entering the conference code: 5116479.
An archived copy of the webcast will be available on Immune Design's website beginning approximately two hours after the conference call. Immune Design will maintain an archived replay of the webcast on its website for at least 30 days after the conference call.
About Immune Design
Immune Design is a clinical-stage immunotherapy company employing next-generation in vivo approaches to enable the body's immune system to fight disease. The company's technologies are engineered to activate the immune system's natural ability to generate and/or expand antigen-specific cytotoxic T cells, while also enhancing other immune effectors, to fight cancer and other chronic diseases. CMB305 and G100, the two-pronged focus of Immune Design's ongoing immuno-oncology clinical programs, are the product of its two synergistic discovery platforms, ZVexTM and GLAASTM. Both ZVex and GLAAS also have potential applications in infectious disease and allergy as demonstrated by ongoing pharmaceutical collaborations. Immune Design has offices in Seattle and South San Francisco. For more information, visit www.immunedesign.com.
Cautionary Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Immune Design's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the progress, timing and scope of clinical trials for Immune Design's product candidates and the reporting of clinical data regarding Immune Design's product candidates. Many factors may cause differences between current expectations and actual results including unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, failure of Immune Design's collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. Other factors that may cause Immune Design's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Immune Design's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections contained therein. Except as required by law, Immune Design assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
|Immune Design Corp.|
|Selected Balance Sheet Data|
|March 31, |
|December 31, |
|Cash and cash equivalents||$||54,762||$||112,921|
|Total current liabilities||5,935||7,111|
|Total stockholders' equity||99,054||108,993|
|Condensed Consolidated Statements of Operation and Other Comprehensive Income (Loss) Data (unaudited)|
|(In Thousands Except Per Share Amounts)|
|Three Months Ended|
|Cost of product sales||22||79|
|Research and development||10,570||7,463|
|General and administrative||3,914||3,802|
|Total operating expenses||14,506||11,344|
|Loss from operations||(12,643||)||(9,406||)|
|Interest and other income||349||-|
|Other comprehensive income (loss):|
|Unrealized gain on investments||20||-|
|Other comprehensive loss||(12,274||)||(9,406||)|
|Basic and diluted net loss per share||$||(0.61||)||$||(0.56||)|
|Weighted-average shares used to compute basic and diluted net loss per share||20,153,202||16,944,871|
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