Five Prime Therapeutics, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of protein therapeutics that block cancer and inflammatory disease processes. The company’s product candidates include FP-1039/GSK3052230, a protein therapeutic, which is in Phase 1b clinical trials for trapping and neutralizing cancer-promoting fibroblast growth factors (FGFs) involved in cancer cell proliferation and new blood vessel formation; FPA008, a Phase 1 clinical trial stage antibody that inhibits colony stimulating factor-1 receptor; and FPA144 is an antibody for inhibiting FGF receptor 2b, as well as to treat patients with gastric cancer and potentially other solid tumo...
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Founded in 2001
GlaxoSmithKline Exercises Option for a Commercial License to a Novel Muscle Disease Target
Sep 15 14
Five Prime Therapeutics, Inc. announced that GlaxoSmithKline (GSK) has exercised its option to obtain an exclusive, worldwide license to products containing or directed to an undisclosed muscle disease target that Five Prime discovered using its proprietary library of human extracellular proteins and target screening and discovery capabilities. By exercising its option, GSK will receive exclusive rights to develop and commercialize products globally, at its own cost and expense, that incorporate or are directed to the selected target. Five Prime will receive a payment of $1.5 million in connection with the option exercise and is entitled to receive up to $122.5 million in preclinical, development and commercial-related milestone payments and royalties in the low- to mid-single-digit range on net sales of products related to the target.
Five Prime Therapeutics, Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 05:15 PM
Sep 3 14
Five Prime Therapeutics, Inc. Presents at 2014 Morgan Stanley Global Healthcare Conference, Sep-09-2014 05:15 PM. Venue: The Grand Hyatt Hotel, New York, New York, United States. Speakers: Lewis T. Williams, Founder, Chief Executive Officer, President and Director.
Five Prime Therapeutics, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Cash Flow from Operating Activities Guidance for the Year 2014
Aug 5 14
Five Prime Therapeutics, Inc. announced earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported collaboration revenue of USD 4,981,000 against USD 3,549,000 a year ago. Loss from operations was USD 9,916,000 against USD 7,422,000 a year ago. Net loss was USD 9,866,000 against USD 7,274,000 a year ago. Basic and diluted net loss per common share was USD 0.46 against USD 5.82 a year ago. The increase in revenue was primarily due to USD 1.9 million in revenue recognized under Five Prime's immuno-oncology collaboration with BMS established in March 2014. The increase in net loss was primarily due to the advancement of FPA144 towards a fourth quarter 2014 IND submission and public company-related expenses, partially offset by an increase in collaboration revenue.
For the six months, the company reported collaboration revenue of USD 8,527,000 against USD 6,524,000 a year ago. Loss from operations was USD 18,576,000 against USD 14,769,000 a year ago. Net loss was USD 18,510,000 against USD 14,321,000 a year ago. Basic and diluted net loss per common share was USD 0.92 against USD 11.55 a year ago.
The company continues to expect full-year 2014 net cash used in operating activities to be less than USD 30 million.