Molecular Templates Inc Stock Price, News & Analysis

Molecular Templates (MTEM) announced a partial clinical hold on its Phase 1 study of MT-0169 due to cardiac adverse events observed at a higher dosage of 50 mcg/kg. The FDA is reviewing safety data from lower doses (5 mcg/kg and 10 mcg/kg) where no cardiac events were reported among eight patients. The hold permits current participants to continue treatment, but new enrollments are paused. Notably, one patient at 5 mcg/kg showed a Very Good Partial Response evolving into a stringent complete response. The FDA has requested additional data to evaluate the benefit-to-risk ratio of the lower doses before lifting the hold, as patient safety remains a priority for MTEM.

Molecular Templates (Nasdaq: MTEM) announced a strategic reprioritization focusing on the clinical development of MT-6402, MT-8421, and MT-0169, alongside a workforce reduction of approximately 50%. This restructuring aims to extend the company’s financial runway and halt the MT-5111 clinical program. MTEM reported a net loss of $22 million for Q4 2022, with revenues falling to $2.6 million compared to $18 million in Q4 2021. The total research and development costs were $17.6 million, showing a slight decrease from the previous year. As of December 31, 2022, the company had $61 million in cash and investments, with expectations for a runway until Q2 2024.

Molecular Templates, Inc. (MTEM) announced FDA clearance to proceed with clinical testing of its MT-8421 engineered toxin body program, targeting CTLA-4 in patients with relapsed/refractory solid tumors. MT-8421 aims to eliminate CTLA-4-expressing Tregs in the tumor microenvironment, offering a novel approach compared to traditional monoclonal antibodies. Preclinical data indicated effective depletion of immune-suppressive Tregs without affecting peripheral Tregs, and MT-8421 exhibited good tolerance in non-human primate studies. The company plans to initiate a Phase I study by mid-2023.

Molecular Templates, Inc. (Nasdaq: MTEM), a clinical-stage biopharmaceutical company, is set to participate in three key healthcare conferences in March 2023. The Cowen Annual Health Care Conference will feature a panel on breast and lung cancer on March 7, while the Oppenheimer Healthcare Conference will host a fireside chat on March 15. Additionally, one-on-one meetings will occur at the Barclays Global HealthCare Conference from March 14-16. These events will showcase Molecular Templates' focus on targeted biologic therapeutics and engineered toxin bodies (ETBs) for cancer treatment.

Molecular Templates (Nasdaq: MTEM) announced its participation in the upcoming 45th Annual San Antonio Breast Cancer Symposium (SABCS) and the 64th American Society of Hematology (ASH) Annual Meeting. They will present a poster on interim clinical results for the MT-5111 program at SABCS, scheduled for December 7, 2022, at the Henry B. Gonzalez Convention Center. Additionally, one-on-one meetings will be conducted at the ASH meeting from December 10-13, 2022, in New Orleans, LA. These events highlight the company's focus on developing targeted biologic therapeutics through engineered toxin bodies.

Molecular Templates, Inc. (Nasdaq: MTEM) announced CEO Eric Poma, Ph.D., will participate in two upcoming conferences from November 29 to December 1, 2022. The first event is a virtual fireside chat at Evercore ISI’s 5th Annual HealthCONx conference on November 30 at 9:15 AM ET, focusing on positive data regarding next-generation engineered toxin bodies (ETBs). The second is an in-person chat at Piper Sandler’s 34th Annual Healthcare Conference on December 1 at 3:00 PM ET in New York. Attendees can access both events via registration links provided by the company.

Molecular Templates (MTEM) reported Q3 2022 financial results, showing a net loss of $24.6 million ($0.44 per share) compared to $30.4 million ($0.54 per share) in Q3 2021. Revenues increased to $4.2 million from $2.4 million year-over-year, primarily from collaboration with Bristol Myers Squibb. The company continues to advance clinical trials for its programs MT-6402, MT-5111, and MT-0169, achieving notable results such as tumor regression in patients with NSCLC and promising responses in HER2-positive breast cancer cases.

Molecular Templates (Nasdaq: MTEM) announced its participation in the Society for Immunotherapy of Cancer’s 37th Annual Meeting from November 8-12, 2022, in Boston. The company will present four abstracts on engineered toxin bodies (ETBs), including interim data on MT-6402 and MT-8421. A Research & Development Day is scheduled for November 11, 2022, featuring presentations from senior leadership and a live Q&A session. Eric Poma, CEO, emphasized the differentiated approach of MTEM in immuno-oncology.