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Aug. 6, 2020, 1:00 a.m. EDT

ObsEva Announces Second Quarter 2020 Financial Results and Business Update

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(GLOBE NEWSWIRE via COMTEX) --

- Primary endpoint successfully met in Phase 3 PRIMROSE 1 trial of linzagolix for the treatment of heavy menstrual bleeding due to uterine fibroids

- Phase 3 data from PRIMROSE 2 trial demonstrated sustained efficacy and continued safety over 52 weeks of treatment with linzagolix,including bone mineral density changes

- Phase 3 trial results support the advancement of linzagolix 100 mg without add-back therapy and 200 mg with add-back therapy doses to regulatory submissions planned for Q4:20/H1:21 in Europe/U.S.

- Actively discussing commercial partnership to maximize linzagolix best-in-class potential

- OBE022 Phase 2 PROLONG trial results on track for Q4:20

- YuYuan Bioscience Technology submitted pre-IND meeting request for nolasiban development in China

GENEVA, Switzerland and BOSTON, MA (August 6, 2020) - ObsEva SA /zigman2/quotes/208216166/composite OBSV -5.96% (six:OBSN), a late clinical-stage biopharmaceutical company developing and commercializing novel therapies to improve women's reproductive health, today reported financial results for the quarter ended June 30, 2020 and provided a business update.

"The excellent phase 3 results from PRIMROSE 1 and PRIMROSE 2 last month were critical achievements as we now embark upon regulatory filings and commercial preparation", said Ernest Loumaye, MD, PhD, OB/GYN, CEO and Co-Founder of ObsEva. "We strongly believe that our strategy to develop both a low dose of linzagolix without hormonal add back therapy and a high dose with hormonal add back therapy is the optimal way to treat more women suffering from heavy menstrual bleeding due to uterine fibroids."

Pipeline Update

Linzagolix for the treatment of uterine fibroids and endometriosis

- Positive Phase 3 results for PRIMROSE 1 and PRIMROSE 2 trials of linzagolix for the treatment of HMB due to uterine fibroids: PRIMROSE 1 is being conducted in approximately 500 women experiencing heavy menstrual bleeding (HMB) due to uterine fibroids. As announced July 6, 2020, the 24-week responder rate was 75.5% for women receiving 200mg linzagolix and add back therapy (ABT) and 56.4% for women receiving 100 mg linzagolix without ABT, vs. 35.0% for placebo (p<0.001 and p=0.003 respectively). In addition, 52-week data from PRIMROSE 2 demonstrate that continued treatment with linzagolix provides sustained efficacy and is well tolerated. Responder rates of 91.6% and 53.2% were observed in women receiving 200 mg with ABT and 100 mg without ABT, respectively, both of which are similar to the responder rates observed at week 24 of the study. The pooled week 24 data from these two Phase 3 studies support a potentially best-in-class profile, with a responder rate of 84.7% in women receiving linzagolix 200 mg with ABT, and 56.6% in women receiving linzagolix 100 mg without ABT.

- New patient enrollment in Phase 3 trials EDELWEISS 2 (U.S.) and EDELWEISS 3 (U.S. and Europe) resuming: Following the decision to temporarily stop enrolling new patients due to the COVID-19 pandemic announced in March 2020, the EDELWEISS 2 and 3 trials resumed enrollment of new patients in the latter part of the second quarter. Each of these trials is designed to assess two once daily oral doses of linzagolix in women with endometriosis-associated pain, including 75mg without ABT and 200mg with ABT.

- Linzagolix commercial partnership: ObsEva is engaged in active discussions with several parties for a commercial partnership to maximize the best-in-class potential of linzagolix.

OBE022 to delay childbirth in pregnant women with preterm labor at 24-34 weeks of gestation

- Enrollment completed in Phase 2 PROLONG part B: Part B is the multicenter, randomized, double-blind, placebo-controlled portion of the PROLONG trial that enrolled up to 120 women with preterm labor at a gestational age between 24 and 34 weeks. Enrollment in Part B was completed in March 2020, and infant delivery and follow-up is ongoing.

Nolasiban for improving pregnancy and live birth in women undergoing embryo transfer (ET) following in-vitro fertilization (IVF)

- Nolasiban partnership with YuYuan BioScience Technology (YuYuan) for development and commercialization in China: On July 1, 2020, ObsEva and YuYuan announced a pre-IND meeting request to the Chinese National Medical Products Administration (NMPA) to enable a Phase 1 and Phase 2 proof of concept study in China.

Anticipated Milestones

ObsEva expects to achieve the following clinical and regulatory milestones in 2020-21:

Fourth Quarter 2020

- Linzagolix: Pending feedback from national authorities, submit a Marketing Authorization Application (MAA) in Europe through a centralized procedure for the uterine fibroid indication.

- OBE022: Report final safety and efficacy results from the PROLONG trial encompassing maternal and neonatal follow-up.

- Nolasiban: Investigational new drug (IND) submission in China by YuYuan Bioscience Technology to initiate clinical development.

First Half 2021

- Linzagolix: Complete safety follow-up, and submit a New Drug Application (NDA) to the U.S. Food and Drug Administration for the uterine fibroid indication.

/zigman2/quotes/208216166/composite
US : U.S.: Nasdaq
$ 2.61
-0.17 -5.96%
Volume: 548,201
Sept. 23, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$154.89 million
Rev. per Employee
N/A
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