"During the first quarter, we continued to advance and expand our development pipeline," said
First Quarter 2015 and Recent Highlights
-
Enrollment continues across CB-839 Phase Ib expansion cohorts. Updated data from the Phase I solid tumor trial has been accepted for presentation at the 2015
American Society of Clinical Oncology (ASCO ) annual meeting onSaturday, May 30, 2015 . -
Hexokinase II inhibitors research license. In
March 2015 , Calithera gained exclusive worldwide rights to TransTech Pharma's portfolio of hexokinase II inhibitors. Hexokinase II is the first and rate-limiting enzyme in the pathway that enables cancer cells to convert glucose to energy and building blocks that feed cancer growth. It is the third program in Calithera's pipeline. -
Preclinical findings, including biomarker data, presented at the
American Association of Cancer Research . InApril 2015 , Calithera presented preclinical data that could ultimately direct the development of CB-839 in non-small cell lung cancer, renal cell carcinoma, and other solid tumor and hematologic indications. The presentations added KRAS and EGFR to our expanding list of potential biomarkers and reiterated data on preclinical single agent activity. Additionally, preclinical synergy studies with signal transduction inhibitors and other anti-cancer agents were also presented.
Selected First Quarter 2015 Financial Results
Research and development expenses were
General and administrative expenses were
Net loss from operations for the three months ended
Financial Guidance for 2015
Calithera reiterates its guidance of its cash, cash equivalents and investments to be at least
Conference Call Information
Calithera will host its first quarter financial results and corporate update conference call today,
About Calithera
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," "poised" and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. These statements include those related to Calithera's ability fund its clinical programs, and Calithera's receipt of clinical data from its clinical trials. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. The potential product candidates that Calithera develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all. In addition, clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release. Such product candidates may not be beneficial to patients or successfully commercialized. The failure to meet expectations with respect to any of the foregoing matters may have a negative effect on Calithera's stock price. Additional information concerning these and other risk factors affecting Calithera's business can be found in Calithera's Annual Report on Form 10-K for the year ended
Calithera Biosciences, Inc. | ||
Selected Statements of Operations Financial Data | ||
(in thousands) | ||
(unaudited) | ||
Three Months Ended March 31, |
||
2015 | 2014 | |
Operating expenses: | ||
Research and development | $ 5,630 | $ 3,318 |
General and administrative | 2,237 | 832 |
Total operating expenses | 7,867 | 4,150 |
Loss from operations | (7,867) | (4,150) |
Other income, net | 9 | 1 |
Net loss | $ (7,858) | $ (4,149) |
Calithera Biosciences, Inc. | ||
Selected Balance Sheets Financial Data | ||
(in thousands) | ||
(unaudited) | ||
March 31, | December 31, | |
2015 | 2014 | |
Balance Sheet Data: | ||
Cash, cash equivalents and investments | $ 94,275 | $ 101,969 |
Working capital | 86,789 | 99,742 |
Total assets | 96,873 | 104,770 |
Total liabilities | 3,769 | 4,404 |
Accumulated deficit | (59,712) | (51,854) |
Total stockholders' equity | 93,104 | 100,366 |
CONTACT:Jennifer McNealey ir@Calithera.com 650-870-1071