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ARTICLE | Company News

OncoGenex cancer news

February 15, 2016 8:00 AM UTC

OncoGenex will reduce headcount by 11 (27%) to 30 to focus on reaching several near-term clinical milestones for custirsen and apatorsen. The company expects cost savings from the headcount reduction, plus the elimination of expenditures not required for the completion of ongoing trials, to extend its cash runway by about two additional quarters into 3Q17. At Dec. 31, 2015, OncoGenex had $55.2 million in cash. The company had an operating loss of $15.3 million for the nine months ended Sept. 30, 2015.

OncoGenex expects to report data in 3Q16 from the Phase III AFFINITY trial of custirsen to treat castration-resistant prostate cancer (CRPC) and in 1H17 from the Phase III ENSPIRIT trial of custirsen to treat non-squamous non-small cell lung cancer (NSCLC). In 2H16, OncoGenex expects data from the Phase II Borealis-2 trial of apatorsen in bladder cancer and the Phase II Spruce trial of apatorsen in NSCLC. ...