Welcome to our dedicated page for Viracta Therapeutics news (Ticker: VIRX), a resource for investors and traders seeking the latest updates and insights on Viracta Therapeutics stock.
Viracta Therapeutics, Inc. (VIRX) has issued a series of news releases that trace its evolution from an active clinical-stage precision oncology company to an organization in wind down. Company announcements describe a focus on virus-associated cancers, particularly Epstein-Barr virus (EBV)-positive lymphomas and solid tumors, and provide detailed updates on its lead product candidate, Nana-val, an all-oral combination of nanatinostat and valganciclovir.
News items have covered multiple aspects of Viracta’s development programs, including clinical data from the Phase 2 NAVAL-1 trial in relapsed or refractory EBV-positive lymphomas and from a Phase 1b/2 study in EBV-positive nasopharyngeal carcinoma and other advanced EBV-positive solid tumors. The company has reported positive antitumor activity and a generally well-tolerated safety profile for Nana-val in certain EBV-positive peripheral T-cell lymphoma (PTCL) populations, as well as productive regulatory interactions with the U.S. Food and Drug Administration regarding potential paths to registration.
Corporate and strategic developments are also documented in Viracta’s news flow. Releases describe resource reprioritizations, reductions in force, and a resizing of the board of directors as the company sought to conserve cash and focus on its EBV-positive lymphoma program. Later communications announce the closure of the pivotal NAVAL-1 trial while the board explores strategic alternatives, and ultimately, the termination of employees and a decision to wind down operations, with continued exploration of options for the development programs.
On Stock Titan’s VIRX news page, readers can review this sequence of clinical, regulatory, and corporate updates directly from Viracta’s public disclosures. This provides historical context on Nana-val’s development, Viracta’s precision oncology strategy in EBV-associated cancers, and the subsequent decisions to close trials, explore strategic alternatives, and wind down operations.
Viracta Therapeutics, Inc. (Nasdaq: VIRX) announced the approval of non-qualified stock options for a new employee, allowing the purchase of 80,000 shares. The options will vest over four years, starting with 25% after one year, and the exercise price is set at $2.985 per share, aligned with the stock's closing price on the announcement date. This grant falls under the 2021 Inducement Equity Incentive Plan, aimed at attracting new talent. Viracta focuses on treatments for virus-associated cancers, including ongoing clinical trials for its lead product, Nana-val.
Viracta Therapeutics (Nasdaq: VIRX) reported third quarter 2022 results showing a net loss of approximately $17.7 million, or $0.47 per share, up from $14.9 million, or $0.40 per share, in Q3 2021. The company has cash and equivalents of $77.1 million, sufficient to fund operations into mid-2024. Key developments include the initiation of the pivotal NAVAL-1 trial for Nana-val in EBV-positive lymphoma across 50 sites and a successful third dose level enrollment in the Phase 1b/2 trial for EBV-positive solid tumors. An update on trial advancements is expected in early 2023.
Viracta Therapeutics, Inc. (Nasdaq: VIRX) has announced its leadership will present at four investor conferences in November 2022. Presentations include:
- Stifel 2022 Healthcare Conference on November 15, 2022, at 3:35 PM ET
- 13th Annual Jefferies London Healthcare Conference on November 16, 2022, at 5:35 PM GMT / 12:35 PM ET
- Piper Sandler 34th Annual Healthcare Conference on November 29, 2022, at 10:30 AM ET
- 5th Annual Evercore ISI HealthCONx Conference on November 30, 2022, at 1:50 PM ET
Webcasts will be available on their website.
Viracta Therapeutics, Inc. (Nasdaq: VIRX) announced the appointment of Mark Rothera as President and CEO, with an accompanying stock option grant of 1,375,000 shares. This option vests over four years, with 25% vested after one year and the remaining 75% vesting monthly. The exercise price is $5.21 per share, matching the stock's closing price on September 19, 2022. The award is part of Viracta's 2021 Inducement Equity Incentive Plan, intended for new employees as an inducement for their employment.
Viracta Therapeutics has appointed Mark Rothera as President and Chief Executive Officer, effective September 19, 2022. Ivor Royston, the founding CEO, will remain on the Board of Directors. Rothera brings over 30 years of biopharmaceutical experience and aims to advance the company's drug, Nana-val, towards clinical development and marketing approval. This transition follows Rothera's notable achievements in prior roles, including increasing market capitalization and securing significant financing. Viracta focuses on therapies for Epstein-Barr virus-associated malignancies.
The European Commission has granted orphan drug designation (ODD) for Nana-val, a combination therapy of nanatinostat and valganciclovir, to treat peripheral T-cell lymphoma (PTCL). This designation recognizes the high unmet medical need and positions Nana-val as the fifth globally to receive ODD. Previously, Nana-val received ODD from the FDA for various T-cell lymphomas. Following a Phase 1b/2 trial, the ongoing global Phase 2 NAVAL-1 trial is focusing on relapsed/refractory Epstein-Barr virus-positive lymphomas and aims to enroll approximately 140 patients.
Viracta Therapeutics (Nasdaq: VIRX) announced that its Chief Scientific Officer, Ayman Elguindy, has been elected to the Governing Board of the International Association for Research on Epstein-Barr Virus and Associated Diseases. This recognition highlights Dr. Elguindy's expertise in virus-associated cancers, and his commitment to advancing research in this field. Viracta focuses on precision oncology, with its lead product candidate, Nana-val, undergoing multiple clinical trials for treating EBV-positive malignancies. This move could enhance the company's reputation and foster further research collaborations.
Viracta Therapeutics (Nasdaq: VIRX) has appointed Jane Chung, R.Ph., to its Board of Directors. Chung brings over 20 years of experience in oncology and commercial leadership, having held key roles at companies like Sutro Biopharma and AstraZeneca. Her expertise is anticipated to enhance Viracta's strategic direction as it advances its pivotal NAVAL-1 study for Epstein-Barr virus-positive lymphoma and a Phase 1b/2 trial for advanced EBV+ solid tumors. Chung expressed enthusiasm for assisting the company's management in achieving its objectives.
Viracta Therapeutics (Nasdaq: VIRX) announced progress in its Nana-val clinical trials for EBV-positive lymphoma and solid tumors, with key data expected in Q4 2022. As of June 30, 2022, the company reported cash reserves of $83.1 million, projected to fund operations through mid-2024. The Phase 1b/2 trial has advanced to a second dose escalation cohort, while the NAVAL-1 trial now allows enrollment of second-line peripheral T-cell lymphoma patients. Despite a net loss of $10.6 million for Q2 2022, the company remains committed to its clinical milestones.
Viracta Therapeutics (Nasdaq: VIRX) announced that Dr. Ivor Royston, its President and CEO, received the Biotechnology Heritage Award from the Science History Institute on June 13, 2022, at the BIO International Convention in San Diego.
This award recognizes individuals who contribute significantly to biotechnology. Dr. Royston highlighted his commitment to advancing therapeutics for virus-associated cancers, particularly through the company's lead product, Nana-val, targeting Epstein-Barr virus (EBV)-associated malignancies, which constitute nearly 2% of global cancers.
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