4D Pharma | New class of medicines into the Oncology Clinic

UPDATE | 4D Pharma | New class of medicines into the Oncology Clinic




4D Pharma (LON: DDDD) is a biotechnology company with 4 clinical-stage development candidates. The trials ongoing are: Blautix in Irritable Bowel Syndrome (in a 500 patient Phase II trial), Thetanix for Crohn’s Disease (planning a Phase II trial), MRx-4DP0004 in asthma patients with poor control (phase I/II), and MRx0518 for solid tumours (Phase I/II trial in combination with pembrolizumab (KEYTRUDA®), a Phase Ib study as a neoadjuvant monotherapy prior to surgery in treatment naïve patients, and a further Phase I/II clinical trial in pancreatic cancer as a neoadjuvant prior to stereotactic and standard radiotherapy is planned to begin towards the end of 2019. 4D also has numerous Live Biotherapeutic Products (LBPs) in preclinical development: 2 in immuno-oncology, 2 in neurodegenerative disease and multiple other candidates in autoimmune disease, all of which are derived from the company’s MicroRx platform. The focus of this report will be on 4D Pharma’s ongoing oncology programmes for MRx0518 and second oncology candidate - MRx1299.


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• 4D Financial highlights (as of end of year 2018) include R&D investments of GBP 24.9m as a result of increasing expenditure from advancing candidates in clinical development and the MicroRx platform. Total operating expenses for 2018 were GBP 28.4m, with a loss after tax for the year of GBP 23.7m. 4D Pharma ended 2018 with GBP 26.2m in cash and cash equivalents.


• In summary, 4D has an advancing clinical pipeline in multiple disease areas with substantial progress in the oncology franchise since our initiation. With multiple trials in planning, another oncology trial due to begin later in 2019 and a new oncology product in preclinical development there will be multiple milestones and potential data readouts before the end of 2020. We reiterate our FV of 465p.