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Tag: Silverback Therapeutics

  • Silverback Therapeutics, Inc. (SBTX) Stock Trending Higher Following Announcement of Clinical Supply Agreement with Regeneron

    Silverback Therapeutics, Inc. (SBTX) Stock Trending Higher Following Announcement of Clinical Supply Agreement with Regeneron

    Silverback Therapeutics, Inc. (SBTX) stock prices were up by 1.02% just around the market opening on July 7th 2021, bringing the price per share up to USD$28.83 at the start of the trading day.

    Clinical Supply Agreement

    July 7th 2021 saw the company announce a clinical supply agreement for the PD-1 inhibitor, Libtayo, (cemiplimab) with Regeneron. The supply agreement will facilitate the evaluation of the treatment in combination with SBT6050, the pioneer of targeted immune-oncology agents. These agents are designed to route a TLR8 agonist linker-payload to activate myeloid cells in tumors expressing levels of HER2 that are moderate and higher.

    SBT6050

    The treatment’s unique capacity to activate both innate and adaptive immune responses could potentially enhance and expand the effectiveness of a PD-1 inhibitor in HER2-expressing solid tumors. The company is keen to complete the ongoing dose escalation of SBT6050 combined with a PD-1 inhibitor as it begins tumor-specific expansion cohorts.

    Clinical Trial of SBT6050

    The first quarter of 2021 saw the company commence treatment in Part 3 of the Phase 1/1b study to evaluate the activity of SBT6050 administered in conjunction with PD-1 inhibitor in dose escalation. As per the agreement, the company will expand its ongoing Phase 1/1b trial to evaluate the combination of SBT6050 and Libtayo in tumor-specific dose expansion cohorts. The treatment will initially be used in HER2-expressing non-small cell lung cancer and gastric cancer.

    Libtayo

    Libtayo is being collaboratively developed and commercialized by Regeneron and Sanofi as a PD-1 blocking antibody. It has been approved for the first-line treatment of patients with advanced NSCLC that have tumors that exhibit a high PD-L1 expression. This was determined by an FDA-approved test for adults with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation. The treatment was also for patients with advanced basal cell carcinoma previously treated with a hedgehog pathway inhibitor or for patients where HHI is not a valid option, being either locally advanced (full approval) or metastatic (accelerated approval).

    Future Outlook for SBTX

    Armed with its recent clinical supply agreement, the company is poised to capitalize on the tenured profitability it has secured for the contract term. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Why Did SBTX Stock Lost 16%?

    Why Did SBTX Stock Lost 16%?

    In after-hours trading on Friday, Silverback Therapeutics Inc. (SBTX) saw its shares price dip -16.43 percent to $32.00. As of Friday’s close, Silverback shares were down -3.47%. In the past 50 days, the average daily volume has been 140K shares, and the stock volume remained 0.55 million shares.

    Since the beginning of the quarter, SBTX stock has decreased by -32.36%, but has stabilized in the past week. The current market cap of SBTX is $1.16 billion, and its outstanding shares were 34.77 million. Because the SBTX stock declined in the absence of recent news, we can then provide a deeper understanding of SBTX by referring to recent developments.

    What’s the latest at SBTX?

    Biopharmaceutical company Silverback Therapeutics develops drugs that can be delivered systemically and tissue-targeted for the treatment of cancer, chronic viral infections, and other serious diseases based on its unique ImmunoTAC technology platform.

    By combining proprietary payloads with monoclonal antibodies targeting specific disease sites, SBTX’s platform is able to modulate key disease modifying pathways. Silverback is initially developing targeted immuno-oncology agents that target the tumor microenvironment with a TLR8 agonist myeloid cell activator in order to kill cancer cells.

    Silverback attended the Raymond James Human Health Innovation Conference last week. During Wednesday, June 23rd’s presentation, SBTX’s Chief Executive Officer, Laura Shawver, Ph.D., provided a company overview.

    SBTX made the presentation available live via the website and a webcast replay is available for 30 days at the site. The management team of SBTX also attended the conference in addition to hosting investor meetings.

    Last month, Silverback reported financial results for the first quarter ended March 31, 2021.

    First Quarter Financial Results:

    • SBTX posted a net loss of $18.9 million, compared with a loss of $5.3 million a year ago.
    • Non-cash stock-based compensation expense of $4.3 million compared to $47,000 during the same period last year drove the loss.
    • According to the report, the R&D expenses of SBTX were $12.2 million, as compared to $4.4 million for the same period in 2020.
    • During 2021, SBTX’s research and development expenses, including those associated with SBT6290 and SBT8230, increased in large part due to the advancement of pipeline programs.
    • SBTX spent $6.6 million on general and administrative expenses, compared to $0.8 million last year.
    • In addition to higher personnel expenses in 2020, including new executives, and increased salary, bonus, and stock compensation, the increases in general and administrative costs are primarily due to increased headcount.

    Is the liquidity of SBTX is strong enough?

    Silverback (SBTX) had $374.2 million in cash and cash equivalents at March 31, 2021, compared with $386.6 million at December 31, 2020. Within the next 24 months, these funds will be sufficient to cover all SBTX’s operating expenses and capital expenditures.