Q1 Cash Balance of $156.9M — Cash Through Q3 2019
Phase 2 Demcizumab DENALI Non-Small Cell Lung Cancer Trial Did Not Meet Endpoints
Focused on Immuno-Oncology Pipeline and Celgene Collaboration Programs
REDWOOD CITY, Calif., May 08, 2017 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, today announced first quarter financial results. As of March 31, 2017, cash, and short-term investments totaled $156.9 million.
"We continue to drive forward our strong immuno-oncology R&D pipeline, including anti-TIGIT, wholly-owned GITRL-Fc trimer, and our novel undisclosed immuno-oncology discovery programs — as well as advancing programs in our Celgene collaboration to $98 million in potential opt-in payments within the next two years," said Paul J. Hastings, OncoMed's Chairman and CEO. "With more than two years cash, we are dedicated to advancing our pipeline while exploring partnering opportunities to advance all of our programs."
Read More: www.oncomed.com/invest/releasedetail.cfm?ReleaseID=1025195