Welcome to our dedicated page for GT Biopharma news (Ticker: GTBP), a resource for investors and traders seeking the latest updates and insights on GT Biopharma stock.
GT Biopharma develops clinical-stage immuno-oncology therapeutics based on its proprietary TriKE® natural killer cell engager platform. News around GTBP focuses on candidate-specific development updates for GTB-3650, a TriKE® program for relapsed or refractory CD33-expressing hematologic malignancies, and GTB-5550, a B7-H3-targeted TriKE® program for solid tumors known to express B7-H3.
Company updates also cover FDA investigational new drug activity, Phase 1 trial enrollment and safety-review disclosures, R&D spending, liquidity commentary and periodic financial results. GT Biopharma also issues investor-conference announcements as it presents its NK cell engager strategy and clinical pipeline to the capital markets.
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GT Biopharma, Inc. (NASDAQ: GTBP) reported its fourth quarter and full-year 2022 results, revealing a net loss of $5.6 million in Q4, down from $18.0 million the previous year. Total cash and equivalents as of December 31, 2022, were $16.5 million, bolstered by a $6.5 million direct offering completed in early January 2023. The company has successfully reduced research and development expenses to $2.8 million in Q4 2022, significantly down from $6.7 million a year earlier. With current cash resources and cost-cutting measures, GT Biopharma anticipates funding operations into Q2 2024, aiming for IND clearance for lead asset GTB-3650 in the first half of 2023.
GT Biopharma, Inc. (NASDAQ: GTBP) announced a presentation by Dr. Jeffrey Miller, its Consulting Chief Medical Officer, at the H.C. Wainwright Cell Therapy Virtual Conference on February 28, 2023. The presentation will offer a corporate overview of GTBP’s innovative therapeutics based on their proprietary TriKE® NK cell engager platform, designed to enhance natural killer cell functionality in cancer treatment.
Dr. Miller's presentation is scheduled from 9:00 - 9:20 am ET, and the company will also hold 1x1 meetings during the event. Interested parties can register for the webcast here.
GT Biopharma (NASDAQ: GTBP) announced key advancements in its open letter to shareholders, underscoring progress in developing its TriKE® platform targeting cancers. The company is prioritizing its lead candidate, GTB-3650, having signed an agreement with Cytovance Biologics to expedite its IND submission expected in H1 2023. Moreover, GTB-5550 for solid tumors is also in development. The company remains well-capitalized, with cash to sustain operations through 2023, and recently appointed Dr. Jeff Miller as Consulting Chief Medical Officer. Additional presentations at major oncology meetings indicate ongoing engagement with the scientific community.
GT Biopharma has entered into a definitive securities purchase agreement for a registered direct offering of 6,500,000 shares and warrants, priced at $1.00 each. The total gross proceeds are expected to be $6.5 million, to be used for general corporate purposes. The offering is managed by H.C. Wainwright & Co. and is anticipated to close around January 4, 2023. The warrants have a five-year term and can be exercised starting six months after issuance. This offering leverages a previously filed shelf registration statement with the SEC.
GT Biopharma has appointed Dr. Jeff Miller as its Consulting Chief Medical Officer, a move aimed at advancing its proprietary TriKE® NK cell engager platform. Dr. Miller brings over 25 years of experience in the field of NK cells and clinical immunotherapy. His research includes enhancing NK cell function, which aligns with GT Biopharma’s focus on immuno-oncology therapeutics. The announcement follows the departure of Dr. Greg Berk from his roles as President of Research & Development and Chief Medical Officer. This change signals GT Biopharma's commitment to strengthening its leadership in cancer treatment.
GT Biopharma (NASDAQ: GTBP) presented new preclinical data at ASH 2022, showcasing a novel dual antigen targeting strategy for acute myeloid leukemia (AML). The research combines their TriKE technology with Fate Therapeutics' iPSC-derived CAR NK cells. Preclinical models showed that α3 MICA/B iNK cells displayed significant anti-leukemic activity against AML cell lines, enhanced in combination with anti-CD33 TriKE, GTB-3650. The study indicates potential to improve patient outcomes by addressing AML's clinical heterogeneity.
GT Biopharma (NASDAQ: GTBP) recently presented two posters at the Society for Immunotherapy of Cancer’s 37th Annual Meeting, showcasing its TriKE® platform aimed at treating mesothelioma and prostate cancer. The presentations discussed the efficacy of novel tri-specific killer engagers (TriKEs) targeting mesothelin and prostate-specific membrane antigen (PSMA). Both TriKEs demonstrated potential in enhancing NK cell activity against resistant cancer types and are set for further pre-clinical studies and IND applications in 2023, marking significant progress for the company's innovative immuno-oncology therapies.