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NGM Biopharmaceuticals Inc. develops biotechnology drug candidates through a biology-centric discovery engine that combines disease biology and protein engineering. Company news has centered on clinical and regulatory updates for its pipeline, including NGM707, a dual ILT2/ILT4 antagonist antibody evaluated in advanced or metastatic solid tumors, and aldafermin development in primary sclerosing cholangitis and other rare-disease strategy discussions.
Recurring updates also include oncology conference presentations, clinical-data posters, operating and financial results, governance matters, capital-structure disclosures, shareholder voting matters and material agreements. Corporate-action news includes the completed cash tender offer by an affiliate of The Column Group for shares of NGM Bio not already held by affiliates and certain other stockholders.
NGM Biopharmaceuticals and Merck have amended their collaboration to focus on retinal and cardiovascular diseases through March 2024. Merck will continue funding NGM with approximately $120 million for research and development. NGM retains rights to its oncology portfolio and other undisclosed assets, allowing for greater independence in advancing its programs. This collaboration revision supports ongoing clinical trials for NGM621 and MK-3655 while allowing NGM to explore new opportunities in therapeutics. Merck’s option to license NGM’s developed assets remains intact.
NGM Biopharmaceuticals (NGM) announced that CEO David J. Woodhouse, Ph.D., will present at two investor conferences. The events are the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9, 2021, at 4:40 PM ET, and the Raymond James Human Health Innovation Conference 2021 on June 21, 2021, at 2:00 PM ET. A live webcast will be available on NGM's website, with archived replays for 90 days. NGM focuses on developing novel therapeutics targeting liver, metabolic, retinal diseases, and cancer, with six disclosed programs, including four in advanced studies.
NGM Biopharmaceuticals reported mixed results from the Phase 2b ALPINE 2/3 study of aldafermin for treating NASH in patients with liver fibrosis. The primary endpoint of fibrosis improvement was not met (p=0.55). However, secondary endpoints showed statistical significance in NASH resolution at the 3 mg dose and various non-invasive measures, including liver fat reduction. The drug was well tolerated. NGM will not pursue Phase 3 development for aldafermin and will refocus resources towards its ophthalmology and oncology programs. The company's cash reserves exceeded $400 million as of Q1.
NGM Biopharmaceuticals, Inc. (Nasdaq: NGM) will host a conference call on May 24, 2021, at 8:30 a.m. ET to discuss topline results from the 24-week Phase 2b ALPINE 2/3 study. This study evaluates the efficacy of aldafermin in patients with non-alcoholic steatohepatitis (NASH) and liver fibrosis. Participants will compare different doses (0.3 mg, 1 mg, and 3 mg) against a placebo. The call is open to both domestic and international callers, with archived webcasts available for 30 days.
NGM Biopharmaceuticals (NGM) has provided a business update and financial results for Q1 2021, marked by significant developments in its clinical trials. The Phase 2b ALPINE 2/3 trial for aldafermin in patients with NASH is set to report topline data in Q2 2021. The company also continues to enroll participants in its Phase 2 CATALINA study for NGM621, expecting completion by mid-year. Financially, NGM raised $134.6 million through a public stock offering, ending Q1 with $412.7 million in cash. However, the company faces challenges with a net loss of $27.5 million, up from $19.1 million in the prior year.
NGM Biopharmaceuticals, Inc. (NGM) has announced the nomination of Dr. Roger M. Perlmutter to join its Board of Directors at the annual meeting on June 8, 2021. With over 35 years of experience in drug discovery, Dr. Perlmutter has led significant developments at Merck, including the KEYTRUDA® therapy. His appointment is expected to enhance NGM's mission in advancing its diverse clinical pipeline, particularly in oncology. Current directors Jin-Long Chen and David Schnell will seek re-election, while McHenry T. Tichenor will not stand for re-election.
NGM Biopharmaceuticals (NGM) reported significant progress in drug development for liver, retinal, and cancer diseases. Key achievements include first-in-human results for NGM621 in geographic atrophy at the AAO 2020 Virtual and the advancement of MK-3655 into a Phase 2b trial for NASH. Financially, NGM reported a net loss of $28 million for Q4 2020, with $295.2 million in cash as of December 31, 2020. R&D expenses rose to $40.1 million, reflecting ongoing trials. NGM anticipates topline data from the Phase 2b ALPINE trials in Q2 2021.
NGM Biopharmaceuticals has initiated a Phase 1b expansion of its study on NGM120, targeting metastatic pancreatic cancer and related cachexia. This placebo-controlled study follows the successful completion of the open-label safety portion of a Phase 1a/1b trial. NGM120, an antagonist of GDF15/GFRAL, aims to improve patient quality of life by addressing cancer-induced weight loss. The study aims to enroll 60 patients and will evaluate both cancer progression and cachexia outcomes, focusing on overall response and survival rates. NGM120 potentially represents a novel therapeutic approach in this challenging area.
NGM Biopharmaceuticals (NGM) will present a business update at the Cowen 41st Annual Health Care Conference on March 4, 2021, at 11:10 am ET. CEO David J. Woodhouse, Ph.D., will lead the presentation. Interested parties can access a live webcast on the company's website, with a replay available for 30 days following the event. NGM focuses on developing innovative therapeutics targeting liver, metabolic, retinal diseases, and cancer, utilizing a biology-centric drug discovery approach to accelerate clinical development.
NGM Biopharmaceuticals, Inc. (Nasdaq: NGM) announced that Phase 1 study results of NGM621, an anti-complement C3 monoclonal antibody, will be presented at the Angiogenesis, Exudation, and Degeneration 2021 conference on Feb. 12, 2021. NGM621 is designed to inhibit complement C3, potentially enabling extended dosing every eight weeks. The ongoing CATALINA Phase 2 study aims to evaluate its efficacy in geographic atrophy patients. These advancements may pave the way for innovative treatment options in retinal diseases.