Business
Genelux Corporation Reports Second Quarter 2023 Financial Results and Provides General Business Updates
- Inclusion into the broad-market Russell 3000® Index and small-cap Russell 2000® Index - - Publication of VIRO-15 Phase 2 data in JAMA Oncology - - $51
About this update from Genelux Corporation
[{"type":"text","content":"- Inclusion into the broad-market Russell 3000® Index and small-cap Russell 2000® Index - - Publication of VIRO-15 Phase 2 data in JAMA Oncology - - $51 Million raised after closing of two private placements in Q2, totaling $65 million raised in the first half of 2023 - - Current cash and cash commitments expected to fund operations into Q1 2026 - WESTLAKE VILLAGE, Calif., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, today announced financial results for the second quarter of 2023 and provided general business updates. “We’ve made significant progress in the second quarter across our business, but most importantly in securing additional capital to fund operations through our projected key clinical milestones, including the initial readout of our OnPrime/GOG-3076 Phase 3 registrational trial,” said Thomas Zindrick, President, Chairman and CEO of Genelux. “Looking ahead, we remain focused on Olvi-Vec, which is on track for clinical trials across multiple indications and building the commercial infrastructure in preparation for the potential success of our Phase 3 trial and beyond.” Pipeline Highlights The Journal of the American Medical Association (JAMA) Oncology published positive topline data from Phase 2 VIRO-15 trial evaluating Olvi-Vec in Platinum-Resistant or Refractory Ovarian Cancer. The Article was featured on JAMA Oncology’s podcast with lead investigator, Robert W. Holloway, MD. Genelux is advancing Olvi-Vec for the treatment of various cancer indications led by its ongoing OnPrime/GOG-3076 trial, evaluating the efficacy and safety of Olvi-Vec in patients with platinum-resistant/refractory ovarian cancer. Genelux and its licensing partner, Newsoara BioPharma Co., Ltd., also commenced a Phase 1b/2 study of Olvi-Vec in NSCLC, with the first patient having been dosed. Newsoara is conducting the trial in Greater China and Genelux will have worldwide developmental and commercial rights (excluding Greater China) to all data generated from clinical trials of Olvi-Vec in China. Genelux and TVAX Biomedical, Inc. announced the issuance of a United States patent covering the combination of an adoptive T cell therapy/oncolytic viral cancer treatment that is exclusively licensed to V2ACT Therapeutics™, LLC, a joint venture between Genelux and TVAX. The patent e...