Apexigen Stock Price, News & Analysis

Apexigen, Inc. (Nasdaq: APGN) announced the engagement of Ladenburg Thalmann & Co. Inc. to evaluate strategic alternatives aimed at maximizing stockholder value, including potential acquisition or merger options. Concurrently, the company will implement a corporate restructuring that involves reducing its workforce by 55% to extend its cash runway. CEO Xiaodong Yang highlighted the promising Phase 2 data from their lead program, sotigalimab, while emphasizing the importance of focusing on critical areas during this comprehensive review process. Apexigen aims to enhance stockholder value and facilitate the development of innovative oncology therapeutics.

Apexigen, Inc. (Nasdaq: APGN) has secured agreements with biotechnology investors to issue approximately 2.0 million shares and warrants in a private placement, priced at $1.40 per share. This move is projected to generate gross proceeds of around $2.8 million, aimed at funding a Phase 2 clinical study for its CD40 antibody, sotigalimab, in liposarcoma patients, along with other corporate purposes. The placement is expected to close by January 31, 2023. Importantly, these shares have not been registered under the Securities Act, necessitating registration for resale. Apexigen plans to file a registration statement within 30 days post-closing.

Apexigen, Inc. (NASDAQ: APGN) presented new data on its CD40 agonist antibody, sotigalimab, during the ASCO Gastrointestinal Cancers Symposium (January 19-21, 2023). The Phase 2 trials highlighted sotiga's ability to convert immunologically “cold” tumors into “hot” tumors, boosting anti-tumor immune responses in patients with esophageal/gastro-esophageal junction and rectal cancers. Notably, results showed increased T cell and macrophage density and enhanced immune cell activation when combined with short-course radiation therapy. Apexigen anticipates sotiga could become a key component in combination therapies for solid tumors.

Apexigen reported promising Phase 2 trial results for sotigalimab (sotiga) in advanced liposarcoma, achieving a median progression-free survival (mPFS) of 12.45 months, significantly surpassing the historical mPFS of less than 5 months. The company is expanding its LPS cohort to support a potential Phase 3 trial. Additionally, it successfully completed a business combination, raising approximately $19 million. However, the company reported a net loss of $8.5 million for Q3 2022, indicating ongoing financial challenges, despite a cash runway extending into Q2 2023.

Apexigen, Inc. (NASDAQ: APGN) has announced promising results from a Phase 2 trial of sotigalimab in patients with liposarcoma (LPS). The median progression-free survival (mPFS) for those treated with sotigalimab combined with doxorubicin was 12.45 months, significantly outperforming the historical mPFS of less than 5 months with doxorubicin alone. The results support the expansion of the LPS cohort and a potential Phase 3 trial. Apexigen plans to enroll an additional 10 patients to further evaluate the efficacy and safety of this treatment combination.

Apexigen, Inc. (NASDAQ: APGN) announced promising results from an ongoing Phase 2 trial of intratumoral sotigalimab combined with pembrolizumab for first-line metastatic melanoma. The combination demonstrated a well-tolerated safety profile and an objective response rate (ORR) of 50%, outperforming pembrolizumab alone (34%). Key findings include the activation of immune responses in local and distant tumors, suggesting sotigalimab's potential to enhance anti-tumor effects. This data was presented at the Society for Immunotherapy of Cancer’s annual meeting in Boston.

Apexigen has presented promising results from a Phase 2 trial of sotigalimab, an antibody targeting CD40, combined with neoadjuvant chemoradiation for resectable esophageal and gastroesophageal junction cancers. This study reported a significant 38% pathologic complete response (pCR) rate among evaluable patients, outperforming historical standard treatment data. Safety assessments indicated that the combination therapy was generally well tolerated, with no treatment-related deaths. These findings suggest sotigalimab's potential to enhance patient outcomes in cancer therapy.

Apexigen, Inc. (NASDAQ: APGN), a clinical-stage biopharmaceutical company specializing in antibody-based cancer therapies, announced participation in the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. The company will deliver a pre-recorded presentation on September 12, accessible at 7:00 a.m. ET. An archived version will be available on Apexigen's website. Apexigen focuses on innovative immuno-oncology agents, leveraging its APXiMAB™ platform to discover new therapeutic antibodies, with several candidates in clinical development.

Apexigen, Inc. (NASDAQ: APGN) announced new data from its Phase 2 trial of sotigalimab, an agonist antibody targeting CD40, combined with neoadjuvant chemoradiation for patients with resectable esophageal and gastroesophageal junction (GEJ) cancers. This data will be presented at the ESMO Congress from September 9-13, 2022. The abstract, featuring details about the multicenter study, will be accessible on the ESMO portal, with the presentation scheduled for September 12, 2022, by Dr. Andrew Ko from UCSF.