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Magenta Therapeutics Reports First Quarter Financial Results, Early Clinical Observations from MGTA-117 Clinical Trial and Other Program Highlights
– Clinical observations from preliminary data at the lowest dose of MGTA-117 in a Phase 1/2 clinical trial indicate target binding, reduction of target cells
About this update from Dianthus Therapeutics, Inc.
[{"type":"text","content":"\n – Clinical observations from preliminary data at the lowest dose of MGTA-117 in a Phase 1/2 clinical trial indicate target binding, reduction of target cells in bone marrow, rapid drug clearance and a favorable tolerability profile –\n\n– IND-enabling preclinical studies ongoing for CD45 antibody-drug conjugate; key dose-ranging toxicology results expected in 2H 2022 –\n\n– Startup activities progressing for MGTA-145 stem cell mobilization in sickle cell disease clinical trial; initial data anticipated in 2H 2022 –\n\n– Ended Q1 2022 with approximately $156.6 million in cash, cash equivalents and marketable securities; maintains guidance that cash reserves are expected to fund operating plan into Q2 2024 –\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nMagenta Therapeutics (Nasdaq: MGTA), a clinical-stage biotechnology company developing novel medicines designed to bring the curative power of stem cell transplant to more patients, today reported financial results for the first quarter ending March 31, 2022, early clinical observations from its MGTA-117 clinical trial and other recent program highlights.\n\n“We are pleased with the progress of our MGTA-117 Phase 1/2 clinical trial. Our clinical observations from preliminary data indicate that MGTA-117 is functioning as designed by binding to the intended cells with a post-dose reduction of target cells in the bone marrow, clearing the body rapidly and doing so with a favorable tolerability profile. With this level of measurable activity at our lowest dose, we believe we will collect enough information in 2022 from the next 1-2 cohorts to build a data set for communications with regulators for our planned transition to the transplant-eligible AML patient population. In light of the turbulence in the capital markets, we are also pleased to have a strong cash position and a projected lower quarterly spending rate which we believe will allow us to reach our critical value inflection points, including possible proof-of-concept of MGTA-117 in transplant-eligible AML patients and genetic diseases with gene therapy,” said Jason Gardner, President and Chief Executive Officer of Magenta Therapeutics.\n\nProgram Highlights:\n\nMGTA-117 Phase 1/2 Clinical Trial Ongoing\n\nClinical Trial Design and Objectives. Magenta is conducting a Phase 1/2 dose-escalation clinical trial of MGTA-117 in patien...