Nov 25, 2021
Lytix Biopharma today releases its third quarter 2021 results

Highlights include opening of the Phase II study in the US for LTX-315, a first-in-class oncolytic peptide, and preclinical preparations for the second-generation drug-candidate LTX-401 for intratumoral treatment of liver cancer. Post quarter, partner Verrica Pharmaceuticals has announced it expects to initiate its Phase II trial of LTX-315 in basal cell carcinoma in the first quarter of 2022.

We continue to see good progression for our lead candidate LTX-315, where the estimated timeline for the further development program indicates that we will find LTX-315 in two separate and independent Phase II studies in US in the first quarter of 2022. Favorable safety data received so far confirms the suitability of LTX-401 for treatment of liver cancer, and we are planning for a clinical Phase I trial for this candidate next year”, says Dr. Øystein Rekdal, CEO of Lytix Biopharma.

 

Highlights from the third quarter 2021:

Product development:

  • ATLAS-IT-05, a clinical Phase II study in the US with LTX-315 and pembrolizumab (Keytruda®) in patients with metastatic solid tumors, were initiated in July. Screening of patients at MD Anderson Cancer Center has begun, and late-stage negotiations with other sites are ongoing.
  • Two additional patents for LTX-315 were approved in the US. The patents cover the use of LTX-315 in combination with a chemotherapeutic agent and with the checkpoint inhibitor ipilimumab.
  • Preclinical preparations for LTX-401 as intratumoral treatment of liver cancer is going as planned, heading for submission of an application for a clinical Phase I study.

 

Business and partnership:

  • Verrica Pharmaceuticals has in-licensed LTX-315 for dermatology oncology indications and is progressing towards a Phase II study in the US with LTX-315 as treatment of basal cell carcinoma. The IND for this study was accepted by the US Food and Drug Administration (FDA) in November 2021, and Verrica expects to initiate the trial in the first quarter of 2022.

 

Financial:

  • Third quarter shows higher costs than the previous quarter due to increased R&D activities
  • Lytix maintains a lean organization with low overhead
  • NOK 209 million in cash and cash equivalents at the end of third quarter 2021

 

Key figures (unaudited):

 

 

The results will be presented in a webcast with CEO Øystein Rekdal, CDO Graeme Currie and CFO Gjest Breistein today at 14.30 CEST, but the slides can be read here: https://www.lytixbiopharma.com/investors/presentations.html

The presentation and subsequent Q&A session will be held in English and may be viewed live at https://forms.office.com/r/7FV1WJGZgJ

A recording of the presentation will be made available on https://www.lytixbiopharma.com/investors/overview.html after the presentation.