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Pieris Pharmaceuticals Reports Full-Year 2020 Financial Results and Provides Corporate Update
Company To Host an Investor Conference Call on Tuesday, March 30, 2021 at 8:00 AM EDTPieris achieves $13 million milestone from AstraZeneca for initiation of
About this update from Palvella Therapeutics, Inc.
[{"type":"text","content":"Company To Host an Investor Conference Call on Tuesday, March 30, 2021 at 8:00 AM EDTPieris achieves $13 million milestone from AstraZeneca for initiation of PRS-060/AZD1402 phase 2a study and AstraZeneca to purchase $10 million equity stake in Pieris common stock as part of an amended collaboration agreement$13 million equity investment by Seagen in Pieris, in addition to a clinical trial and supply agreement to evaluate cinrebafusp alfa (PRS-343) in combination with TUKYSA® (tucatinib) in HER2-low gastric cancer as part of an amended collaboration agreementAdditional clinical benefit and safety data from the highest dose cohort and updated biomarker data across all active dose cohorts from cinrebafusp alfa phase 1 monotherapy study to be presented at American Association for Cancer Research Annual Meeting 2021Synergistic preclinical PRS-344 data to be presented at American Association for Cancer Research Annual Meeting 2021, including in vitro data evaluating potential effects of combining 4-1BB with PD-L1 and the effects of PRS-344 on CD8+ T cells, as well as dose-dependent anti-tumor response in in vivo preclinical modelsBOSTON, MA / ACCESSWIRE / March 30, 2021 / Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS), a clinical-stage biotechnology company advancing novel biotherapeutics through its proprietary Anticalin® technology platform for respiratory diseases, cancer, and other indications, today reported financial results for the fiscal year ended December 31, 2020 and provided an update on the Company's recent and anticipated future developments.\"We are pleased to announce the achievement of our second clinical milestone for PRS-060/AZD1402, triggered by the initiation of phase 2a by our partner, AstraZeneca, who further demonstrated their commitment to our respiratory-focused alliance with an equity investment,\" said Stephen S. Yoder, President and Chief Executive Officer of Pieris. \"Within our immuno-oncology franchise, we look forward to presenting additional data for two of our 4-1BB-based bispecific programs at AACR, cinrebafusp alfa (PRS-343) and PRS-344, reinforcing our commitment to and leadership in the 4-1BB space. Following the generation of synergistic in vitro data for the combination of cinrebafusp alfa with TUKYSA® (tucatinib), we plan to pursue this combination in lower HER2-expressing gastric cancer patients...