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Sierra Oncology (SRRA) announced the granting of a stock option for 50,000 shares to a new employee, approved by its Compensation Committee under the 2018 Equity Inducement Plan. The exercise price is set at $15.14 per share, equivalent to the stock's closing price on the grant date. The option will vest 25% on the first anniversary and the remaining 75% over 36 months, contingent upon continued employment. Sierra is focused on advancing momelotinib, a treatment for myelofibrosis, which has been granted Fast Track designation by the FDA.
Sierra Oncology (SRRA) announced that CEO Stephen Dilly will present at the Jefferies Virtual London Healthcare Conference from November 17-19, 2020. The presentation is set for 7:20 PM GMT on November 18. Sierra is focused on advancing momelotinib, a novel treatment aimed at myelofibrosis, which has received Fast Track designation from the FDA. Over 1,200 subjects have been treated with momelotinib since 2009, addressing key symptoms of the disease. A replay will be available post-conference on their website.
Sierra Oncology (SRRA) announced two abstracts on momelotinib, aimed at treating myelofibrosis, to be presented at the 62nd ASH Annual Meeting from December 5-8, 2020. The data may support momelotinib as a unique treatment option, improving anemia, symptoms, and spleen size. Key presentations include long-term survival data from Phase 3 SIMPLIFY trials and comparative efficacy in thrombocytopenic patients. Momelotinib has received Fast Track designation from the FDA, highlighting its potential in addressing significant unmet medical needs in myelofibrosis.
Sierra Oncology (SRRA) announced progress in its MOMENTUM Phase 3 trial for momelotinib, projecting top-line data by H1 2022. As of Q3 2020, R&D expenses were $10.4 million, up from $10.1 million year-over-year, driven by increased clinical trial costs. For the nine months, R&D costs totaled $32.2 million, compared to $32.0 million in 2019. GAAP net loss was $14.5 million for Q3 2020, compared to $12.9 million in Q3 2019, with total cash reserves at $109 million. SRRA is enhancing its internal capabilities for potential regulatory filing and commercialization.
Sierra Oncology (SRRA) announced the granting of stock options to two new employees as part of its 2018 Equity Inducement Plan. The options total 100,000 shares at an exercise price of $10.91, equal to the stock's closing price on the grant date. Vesting occurs 25% after one year, then 75% over three years. Sierra is focused on developing momelotinib for myelofibrosis, with over 1,200 subjects treated since 2009 and a Phase 3 clinical trial, MOMENTUM, currently underway.
Sierra Oncology (SRRA) announced that CEO Dr. Stephen Dilly will present at two key investor conferences this September. The H.C. Wainwright 22nd Annual Global Investment Conference is scheduled for September 16 at 11:00 am ET, while the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit will take place on September 21 at 11:40 am ET. The presentations will focus on the development of momelotinib, a JAK inhibitor aimed at treating myelofibrosis. Replays will be available on their corporate website.
Sierra Oncology (SRRA) appointed Kevin Norrett as Chief Business Officer and William D. Turner as Chief Regulatory and Technical Operations Officer. These strategic appointments aim to strengthen the management team as the company focuses on the MOMENTUM Phase 3 trial of momelotinib, a drug targeting myelofibrosis. The SEC filings and a 2018 Equity Inducement Plan are in place, with stock options granted to both executives. Momelotinib has received Fast Track designation, potentially accelerating its path to commercialization.
Sierra Oncology (SRRA) reported its second quarter 2020 results, highlighting progress in the MOMENTUM Phase 3 trial for momelotinib, a treatment for myelofibrosis. Enrollment remains on track, with top-line data expected in H1 2022. Financial results show a GAAP net loss of $16.5 million, a slight increase from $14.9 million in Q2 2019. Research and development expenses were $10.2 million, down from $11.7 million. Cash reserves stand at $123.2 million as of June 30, 2020. The company is exploring non-dilutive funding options for its commercialization strategy.
Sierra Oncology (SRRA) announces the appointment of Christina Thomson as General Counsel, bringing extensive strategic and legal experience in life sciences. This role is pivotal as the company prepares for potential commercialization of its drug momelotinib, currently in Phase 3 trials. Thomson's background includes leadership roles in various biotech firms and a strong scientific foundation. An equity grant was issued to Thomson as inducement for her employment. Sierra's momelotinib targets myelofibrosis and has received FDA Fast Track designation, with patient trials ongoing.