Announcement • Mar 22
Harpoon Therapeutics Files Form 15 Harpoon Therapeutics, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.0001 per share. Announcement • Jan 09
Merck Sharp & Dohme LLC entered into an agreement to acquire Harpoon Therapeutics, Inc. (NasdaqCM:HARP) for $410 million. Merck Sharp & Dohme LLC entered into an agreement to acquire Harpoon Therapeutics, Inc. (NasdaqCM:HARP) for $410 million on January 7, 2024. Under the terms of the agreement, Merck, will acquire all outstanding shares of Harpoon Therapeutics, Inc. for a price per share of $23 in cash. Upon termination of the agreement under certain specified circumstances, Harpoon Therapeutic would be required to pay Merck a termination fee of $23.86 million.
The board of directors of Harpoon has unanimously approved the transaction. The board of directors of Merck Sharp & Dohme has approved the transaction. The transaction is subject to certain conditions, including approval of the merger by Harpoon’s stockholders, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and other customary conditions. The transaction is expected to close in the first half of 2024.
Catherine J. Dargan, Andrew M. Fischer and Michael J. Riella of Covington & Burling LLP acted as its legal advisor and Evercore Group L.L.C. acted as financial advisor to Merck. Stuart M. Cable, Lisa R. Haddad, Jean A. Lee, Amanda Gill, Maggie L. Wong, Marianne C. Sarrazin, Alex Apostolopoulos, Arman Oruc, Jacob R. Osborn, Christopher J. Denn, Julie Tibbets, Nathan J. Brodeur, Jacqueline Klosek, Lore Leitner, Robert M. Hale, Alexandra S. Denniston, Andrew C. Sucoff, Matt Wetzel, Deborah S. Birnbach, Alicia Tschirhart, Simone Waterbury, Brian H. Mukherjee and Christina Ademola of Goodwin Procter LLP acted as legal advisor and Centerview Partners LLC acted as financial advisor and fairness opinion provider to Harpoon. Board Change • Jan 08
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Independent Director Lauren Silvernail was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 26
Harpoon Therapeutics, Inc. Announces Board Changes Harpoon Therapeutics, Inc. announced the appointment of James Bucher, J.D. as Chief Legal Officer, and the promotion of Wendy Chang, to Chief People Officer. Mr. Bucher and Ms. Chang are part of the executive management team and report directly to the Chief Executive Officer. Mr. Bucher is a proven leader with over thirty years of legal expertise, including over ten years dedicated to senior roles in life science companies. Most recently, he served as Executive Vice President, General Counsel, and Head of Human Resources at Eliem Therapeutics. Mr. Bucher also served as Executive Vice President and General Counsel for Alder Biopharmaceuticals, held a senior legal position at Exelixis, consulted life sciences companies, and was a partner at Shearman & Sterling LLP. In his current role at Harpoon, Mr. Bucher is tasked with leading all legal aspects of the organization, including corporate governance, intellectual property, and compliance functions. Mr. Bucher received his J.D. with distinction from Emory University School of Law and his B.A. from Colgate University. Ms. Chang joined Harpoon in 2022 as Senior Vice President of Human Resources, bringing more than twenty years of human resources experience in life sciences. Ms. Chang’s promotion to the role of Chief People Officer demonstrates her valuable contributions to the Company during her tenure, along with the organization's commitment to its employees, corporate culture, and the future growth and development of its team. Ms. Chang has an extensive background in aligning talent with organizations’ overall vision and direction. Before joining Harpoon, she was Head of People and Culture at IDbyDNA; before that, she served as Vice President, Human Resources at Gilead Sciences. Ms. Chang?earned a B.S. in accounting and business/management from the University of California, Riverside, and completed the Global Fellow of Talent Management program at The Wharton School of the University of Pennsylvania. Announcement • Dec 12
Harpoon Therapeutics, Inc. Presents HPN217 Phase 1 Clinical Data in Relapsed/Refractory Multiple Myeloma (RRMM) at ASH2023 and Announces Selection of Recommended Phase 2 Dose (RP2D) Harpoon Therapeutics, Inc. reported data from the Phase 1 study of HPN217 in patients with RRMM in an oral presentation at the 65th American Society of Hematology (ASH) Annual Meeting and Exposition in San Diego. Harpoon also announced the selection of 12 mg as the HPN217 RP2D. During the trial, 97 patients with RRMM who had received at least three prior therapies were enrolled across 15 dose escalation cohorts and three expansion regimens. As of the data cut-off of October 17, 2023, the data demonstrated: Clinical activity across a wide dose range (2.15 mg to 24 mg). The maximum tolerated dose (MTD) was not reached at the target dose using a step up approach. · Optimal activity and safety profile was seen at 12 mg, which was declared the RP2D. The Overall Response Rate (ORR) across 12 mg cohorts was 63% (12/19, 95% CI: 38, 84). In addition, the depth of response was most significant at 12 mg, with 53% (10/19) of patients having a Very Good Partial Response (VGPR) or better. The median time to first response in the 12 mg and 24 mg cohort was 1.2 months, and the median duration of response for all responders was 20.5 months as of the data cutoff date. Out of all the responders, 58% (22/38) remain on treatment. · In the 12 mg and 24 mg cohorts, nine patients were previously exposed to BCMA-targeting agents, and six of those patients responded to the HPN217 treatment. The incidence of cytokine release syndrome (CRS) was lowest (16%) in the 12 mg cohorts, all Grade 1-2. No immune effector cell associated neurotoxicity syndrome (ICANS) events were observed at the 12 mg dose. Announcement • Oct 24
Harpoon Therapeutics, Inc. announced that it expects to receive $100.162904 million in funding from a group of investors Harpoon Therapeutics, Inc. announced that it has entered into a securities purchase agreement to issue an aggregate of 17,167,350 shares of its common stock and accompanying warrants to purchase up to an aggregate of 8,583,675 shares of its common stock, at a combined purchase price of $5.8345 per share and accompanying warrant for the gross proceeds of approximately $100 million, with up to an additional approximately $50 million of gross proceeds upon cash exercise of warrants, before deducting placement agent fees and offering expenses on October 23, 2023. The transaction will include participation from new investors such as Soleus Capital, Commodore Capital, RA Capital Management, L.P., Surveyor Capital Management, Ally Bridge Group, Lion Point Capital, LP and returning investors such as New Leaf Venture Partners, LLC, Cormorant Asset Management, LP, The Invus Group, LLC and K2 HealthVentures. Each full warrant will represent the right to purchase one share of the company’s common stock at an exercise price of $5.8345 per share. In lieu of shares of common stock, certain investors are purchasing pre-funded warrants at a combined purchase price of $5.8344 per share and accompanying warrant, which equals the purchase price per share of common stock and accompanying warrant, less the $0.0001 per share exercise price of each pre-funded. The accompanying warrants will be exercisable upon issuance for a period of three years following the date of issuance. The accompanying warrants are only exercisable in cash. The transaction is expected to close on or about October 25, 2023, subject to satisfaction of customary closing conditions. Announcement • Oct 01
Harpoon Therapeutics Receives Non-Compliance Notice from Nasdaq As previously reported, on March 29, 2023, Harpoon Therapeutics, Inc. (the “Company”) received a written notice from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that for the last 30 consecutive business days, the bid price of the Company’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq Listing Rule 5450(a)(1). On September 19, 2023, the Company received notice from Nasdaq that the Staff determined that from September 5 to September 18, 2023, the closing bid price of the Company’s common stock was at $1.00 per share or greater; accordingly, the Company had regained compliance with Nasdaq Listing Rule 5550(a)(2), and this matter is now closed. As previously reported, on March 30, 2023, the Company received a notification letter from the Staff, indicating that the Company’s stockholders’ equity of $5.4 million, as reported in its Annual Report on Form 10-K for the year ended December 31, 2022, did not satisfy the continued listing requirement set in Nasdaq Listing Rule 5450(b)(1)(A) to maintain a minimum of $10 million in stockholders’ equity. On June 7, 2023, Nasdaq granted the Company a 180-day extension to September 26, 2023 to provide evidence of compliance. On September 12, 2023, the Company transferred from Nasdaq Global Market to Nasdaq Capital Market. On September 27, 2023, the Company received a written notice from the Staff indicating that the Company did not meet the terms of the extension by making public disclosure evidencing compliance with the minimum $2.5 million equity requirement under Nasdaq Listing Rule 5550(b) by the September 26, 2023 deadline. The Company plans to timely request a hearing before the Nasdaq Hearings Panel, which request would stay any further action by the Staff. Announcement • Sep 28
Harpoon Therapeutics, Inc. Announces Presentation of Interim Data for 2.15 to 12 mg Target Dose Cohorts from its Phase 1 Clinical Trial Evaluating Single-Agent HPN217 in Relapsed/Refractory Multiple Myeloma Harpoon Therapeutics, Inc. announced the presentation of interim data for the 2.15 to 12 mg target dose cohorts from its Phase 1 clinical trial evaluating single-agent HPN217 in relapsed/refractory multiple myeloma (RRMM). HPN217 targets B-cell maturation antigen (BCMA) and is based on Harpoon’s proprietary Tri-specific T cell Activating Construct (TriTAC®) platform designed to recruit a patient’s immune cells to kill tumor cells. The data will be presented at the 20thInternational Myeloma Society (IMS) Annual Meeting in a poster presentation on September 28, 2023 in Athens, Greece. As of the data cut-off on August 12, 2023, 97 patients were treated with HPN217 across 14 dose escalation cohorts. The trial enrolled heavily pre-treated patients, of whom 65% were penta-drug exposed and 20% had been treated with BCMA-targeted agents. In patients at the 12 mg target dose (N=19), a manageable tolerability profile was observed with low rates of CRS (16%, all G1-2) and no ICANS. Additionally, robust, early clinical activity (63% ORR) was seen. Treatment remains ongoing in 7 responders, while the median responder time on treatment continues to mature, currently 8.3 months (6.0-17.3+). For the earlier 2.15 mg to 6 mg target dose cohorts, the median responder time on treatment was 21.8 months (10.4-27.5+), with several remaining on treatment with a sustained response. Enrollment in dose escalation cohorts up to 24 mg is complete, and the maximum tolerated dose (MTD) has not been reached. Follow up is ongoing, and the evaluation of regimens will inform the choice of a recommended Phase 2 doses at year end 2023. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$84m free cash flow). Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$62m net loss in 3 years). Share price has been volatile over the past 3 months (9.0% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (€28.6m market cap, or US$31.3m). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: US$0.028 (vs US$0.53 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.028 (up from US$0.53 loss in 2Q 2022). Revenue: US$20.2m (up 144% from 2Q 2022). Net income: US$1.06m (up US$18.4m from 2Q 2022). Profit margin: 5.2% (up from net loss in 2Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Biotechs industry in Germany. Announcement • Aug 02
Harpoon Therapeutics, Inc. Appoints Haibo Wang as Senior Vice President of Business Development Harpoon Therapeutics, Inc. announced the appointment of Haibo Wang as Senior Vice President of Business Development. Mr. Wang brings 15 years of biopharma business development, finance, and mergers and acquisitions (M&A) transaction experience to Harpoon. Mr. Wang most recently served as Vice President of Business Development at Hummingbird Bioscience where he was responsible for the company’s end-to-end business development activities. Prior to Hummingbird, Mr. Wang was Director of Business Development at Amgen, where he played a major role in the Teneobio and Five Prime Therapeutics acquisitions, the oncology collaboration with BeiGene, and many clinical collaborations to advance Amgen’s oncology pipeline. Prior to Amgen, Mr. Wang was an M&A consultant at Deloitte, advising on numerous transactions in the healthcare and tech sectors in China. He received his M.S. in Biotechnology from Johns Hopkins University, MBA from Duke University, and B.S. from Tsinghua University. Board Change • Jun 29
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Independent Director Lauren Silvernail was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 28
Harpoon Therapeutics, Inc. Announces Completion of Planned Patient Enrollment in Phase 1 Study of Hpn217 in Relapsed/Refractory Multiple Myeloma Harpoon Therapeutics, Inc. announced the completion of planned patient enrollment in the Phase 1 dose escalation study evaluating the safety, tolerability, and pharmacokinetics of HPN217 in patients with relapsed/refractory multiple myeloma. Additional patients currently in screening will also be allowed to enroll. HPN217 is being evaluated in an ongoing Phase 1, multicenter, open-label dose escalation study designed to evaluate safety, tolerability, pharmacokinetics (PK) and clinical activity in patients with relapsed/refractory multiple myeloma who have had at least three prior systemic treatments, including a proteasome inhibitor, an immunomodulatory drug and an anti-CD38 antibody, including patients with prior exposure to BCMA therapy. Primary objectives are characterization of safety, tolerability, PK and determination of the recommended Phase 2 dose. Breakeven Date Change • May 19
Forecast to breakeven in 2024 The 6 analysts covering Harpoon Therapeutics expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 25% to 2023. The company is expected to make a profit of US$19.3m in 2024. Reported Earnings • May 14
First quarter 2023 earnings released: US$0.31 loss per share (vs US$0.62 loss in 1Q 2022) First quarter 2023 results: US$0.31 loss per share (improved from US$0.62 loss in 1Q 2022). Revenue: US$8.58m (up 45% from 1Q 2022). Net loss: US$11.3m (loss narrowed 44% from 1Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Director Joe Bailes was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2022 earnings released: US$2.04 loss per share (vs US$3.62 loss in FY 2021) Full year 2022 results: US$2.04 loss per share (improved from US$3.62 loss in FY 2021). Revenue: US$31.9m (up 35% from FY 2021). Net loss: US$67.7m (loss narrowed 42% from FY 2021). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Announcement • Dec 12
Harpoon Therapeutics, Inc. Presents Updated Interim Results at ASH 2022 for Novel T Cell Engager HPN217 in Relapsed/Refractory Multiple Myeloma Harpoon Therapeutics, Inc. presented updated interim data from its Phase 1 clinical trial evaluating single-agent HPN217 in relapsed/refractory multiple myeloma (RRMM) in a poster presentation at the 64th American Society of Hematology (ASH) Annual Meeting and Exposition being held in person and virtually in New Orleans. HPN217 targets B-cell maturation antigen (BCMA) and is based on Harpoon’s proprietary Tri-specific T cell Activating Construct (TriTAC®) platform designed to recruit a patient’s own immune cells to kill tumor cells. The interim results, as of the data cut-off date of October 17, 2022, showed that HPN217 demonstrated continued evidence of clinical activity and a tolerable safety profile in heavily pre-treated patients with RRMM (62 patients treated across fixed dose and step dose regimens). HPN217 was active across a wide dose range (2.15 to 24 mg), with 77% (10/13) ORR observed across the high step doses (12 and 24 mg). A majority of responders had decreases in the serum BCMA biomarker (sBCMA, a marker correlated with disease prognosis) by week two of treatment. Additionally, 86% (18/21) of responders remain on study treatment with sustained response, with many responders on treatment for over a year. Three patients in the study were evaluated for minimal residual disease (MRD), and all three were MRD negative (<10-5). sBCMA remained undetectable at 9 months in many responders who achieved very good partial response (VGPR) or better. Low-grade CRS occurred in 29% of patients across the high step dose regimens (12% Grade 1 and 18% Grade 2) and was seen primarily in the earliest doses. No Grade 3 or higher CRS or any immune effector cell associated neurotoxicity syndrome (ICANS) events have been observed. HPN217 targets B-cell maturation antigen (BCMA) and is based on Harpoon’s proprietary Tri-specific T cell Activating Construct (TriTAC®) platform designed to recruit a patient’s own immune cells to kill tumor cells. In November 2019, Harpoon Therapeutics and AbbVie announced a licensing agreement and option to advance HPN217 and expand an existing discovery collaboration. Under the terms of the agreement, AbbVie may exercise its option to license HPN217 after completion of the Phase 1 clinical trial. In March 2022, the FDA granted Fast Track designation to HPN217, underscoring its potential to address a serious unmet medical need for patients with relapsed, refractory multiple myeloma. HPN217 is being evaluated in an ongoing Phase 1, multicenter, open-label dose escalation study designed to evaluate safety, tolerability, pharmacokinetics (PK) and clinical activity in patients with relapsed/refractory multiple myeloma who have had at least three prior systemic treatments, including a proteasome inhibitor, an immunomodulatory drug and an anti-CD38 antibody, including patients with prior exposure to BCMA therapy. Primary objectives are characterization of safety, tolerability, PK and determination of the recommended Phase 2 dose. As of the cutoff date on October 17, 2022, maximum tolerated dose has not yet been reached in the step-dose regimen. Assessment of the Second Quarter cohort dosing schedule is ongoing. Announcement • Dec 02
Harpoon Therapeutics Receives a Letter from Nasdaq Regarding Minimum Closing Bid Price On November 29, 2022, Harpoon Therapeutics, Inc. ("the Company") received a letter from the Listing Qualifications Staff ("the Nasdaq Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the last 30 consecutive business days, the bid price of the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq Listing Rule 5450(a)(1). The notification received has no immediate effect on the listing of the Company's common stock on the Nasdaq Global Select Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until May 29, 2023 (the Compliance Date"), to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days before the Compliance Date. If the Company’s common stock does not achieve compliance by the Compliance Date, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. The Company intends to actively monitor the closing bid price of its common stock between now and the Compliance Date and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule. Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.35 loss per share (vs US$0.51 loss in 3Q 2021) Third quarter 2022 results: US$0.35 loss per share (improved from US$0.51 loss in 3Q 2021). Revenue: US$13.6m (up 204% from 3Q 2021). Net loss: US$11.6m (loss narrowed 30% from 3Q 2021). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in Germany. Announcement • Oct 06
Harpoon Therapeutics, Inc. Appoints Luke Walker, M.D., as Chief Medical Officer Harpoon Therapeutics, Inc. announced the appointment of Luke Walker, M.D., as Chief Medical Officer. Dr. Walker will lead the clinical development strategy and its execution for Harpoon Therapeutics and the product candidates derived from the company’s multiple technology platforms. Dr. Walker will report to Julie Eastland, Harpoon Therapeutics’ President and Chief Executive Officer, and his appointment was effective October 3, 2022. Dr. Walker comes to Harpoon Therapeutics from Seagen Inc. where he most recently served as Vice President of Clinical Development and was responsible for overseeing the global development of multiple early-stage clinical programs. At Seagen, he previously served as Global Development Lead for TUKYSA® (tucatinib) through its approval and market launch for HER2-positive metastatic breast cancer. Dr. Walker came to Seagen through the acquisition of Cascadian Therapeutics, after having led the clinical development of the tucatinib program there from its early stages, working closely with other members of the current Harpoon leadership team and Board of Directors to successfully advance its development into pivotal studies. He received his Medical Degree from the University of Oklahoma Health Sciences Center and completed fellowship training in Hematology and Medical Oncology at Oregon Health Sciences University. After training, he practiced several years as a clinical medical oncologist prior to his career in clinical drug development. Announcement • Sep 20
Harpoon Therapeutics Appoints Lauren Silvernail to Board of Directors Harpoon Therapeutics, Inc. announced the appointment of Lauren Silvernail to its Board of Directors and as the Chairperson of its Audit Committee. Lauren Silvernail has three decades of experience in lead financial and business development roles. She has led and played key roles in a broad range of transactions, including mergers, acquisitions, and financings. She most recently served as Chief Financial Officer and Executive Vice President of Corporate Development of Evolus, Inc., an aesthetic medicine company, where she led fundraising activities and helped establish the infrastructure for the U.S. commercial launch of the company’s first approved product. Previously, she served as Chief Financial Officer and Chief Business Officer at Revance Therapeutics, Inc. and held corporate development roles at ISTA Pharmaceuticals Inc., Allergan and other companies. Lauren is currently a member of the Board of Directors of Nicox S.A., an international ophthalmology company. She earned an M.B.A. in finance and accounting from the Anderson Graduate School of Management at UCLA, and a B.A. in biophysics from the University of California, Berkeley. Reported Earnings • Aug 12
Second quarter 2022 earnings released: US$0.53 loss per share (vs US$0.52 loss in 2Q 2021) Second quarter 2022 results: US$0.53 loss per share (down from US$0.52 loss in 2Q 2021). Revenue: US$8.30m (up 42% from 2Q 2021). Net loss: US$17.4m (loss widened 3.5% from 2Q 2021). Over the next year, revenue is forecast to grow 1.2%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Aug 11
Harpoon Therapeutics, Inc. Announces Resignation of Georgia L. Erbez as Chief Financial Officer, Effective August 31, 2022 Harpoon Therapeutics, Inc. announces that on August 8, 2022, Georgia L. Erbez informed the company of her intention to resign from her position as Chief Financial Officer. Such resignation is expected to be effective as of August 31, 2022. Harpoon has initiated a replacement search, and Ms. Erbez has agreed to continue with Harpoon as a consultant to assist with the transition as needed until December 31, 2022. Harpoon and Ms. Erbez expect to enter into a consulting agreement, which will be described in a future Current Report on Form 8-K to be filed by Harpoon. Announcement • Jul 07
Harpoon Therapeutics, Inc. Announces Executive Appointments Harpoon Therapeutics, Inc. announced the appointment of Wendy Chang to Senior Vice President, Human Resources and Banmeet Anand, Ph.D., to Senior Vice President, Translational Medicine. Both Ms. Chang and Dr. Anand bring deep experience to their respective roles, enhancing strategic and scientific guidance within the organization to drive the company forward in a year of anticipated clinical advancements across Harpoon’s portfolio. Ms. Chang has over 20 years of human resources experience in life sciences and an extensive background in aligning talent with organizations’ overall vision and direction. She comes to Harpoon from IDbyDNA where she served as Vice President, Head of People & Culture. She previously served as Vice President, Human Resources at Gilead Sciences and, earlier in her career, at Bio-Rad Laboratories. Dr. Anand brings more than 18 years of experience leading translational research and implementing drug discovery and development strategies for unmet medical needs across multiple therapeutic areas and clinical modalities. Prior to joining Harpoon, Dr. Anand served as Vice President, Head of Nonclinical Development/Clinical Pharmacology at Molecular Templates. He previously served in multiple leadership and scientific roles at NantKwest, Astellas (Agensys) and Genentech. Announcement • May 27
Harpoon Therapeutics, Inc. Presents Interim Data from Ongoing Dose Escalation Portion of T Cell Engager HPN328 Clinical Trial Harpoon Therapeutics, Inc. announced interim safety and efficacy data from the ongoing dose escalation and expansion study evaluating HPN328, Harpoon’s half-life extended TriTAC® targeting delta-like canonical Notch ligand 3 (DLL3), for the treatment of SCLC and other neuroendocrine cancers. The encouraging interim results, as of the data cut-off date of April 21, 2022, showed that HPN328 demonstrated anti-tumor activity and a favorable safety profile in patients with SCLC, neuroendocrine prostate cancer and other neuroendocrine cancers. Seven of 18 patients (39%) had a decrease in sum of target lesion diameters, with 3 of 11 patients (27%) with SCLC across all dose cohorts experiencing a greater than 30% decrease in sum of target lesion diameters. Additionally, 4 of 6 patients (67%) with SCLC treated at greater than or equal to 1.215mg/week experienced a decrease in sum of target lesion diameters. To date, there have been no dose-limiting toxicities observed and no discontinuations due to adverse events. Grade 1-2 CRS occurred in 22% of patients. No grade 3 or higher CRS or any immune effector cell associated neurotoxicity syndrome (ICANS) events have been observed. To date, study investigators have observed 1 confirmed partial response with a 53% decrease in sum of target lesion diameters at week 10 in a patient with SCLC who previously achieved a best overall response of stable disease on platinum-based chemo-immunotherapy. Another SCLC patient treated with 3 prior lines of therapy achieved a 65% decrease in sum of target lesion diameters with deepening of target lesion response, with treatment ongoing beyond six months. There were 6 instances of patients with best overall response of stable disease (4 SCLC, 1 neuroendocrine prostate cancer, and 1 thymic atypical carcinoid). Reported Earnings • May 14
First quarter 2022 earnings released: US$0.62 loss per share (vs US$1.96 loss in 1Q 2021) First quarter 2022 results: US$0.62 loss per share (up from US$1.96 loss in 1Q 2021). Revenue: US$5.91m (down 34% from 1Q 2021). Net loss: US$20.3m (loss narrowed 67% from 1Q 2021). Over the next year, revenue is expected to shrink by 10% compared to a 36% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Announcement • May 02
Harpoon Therapeutics, Inc., Annual General Meeting, Jun 22, 2022 Harpoon Therapeutics, Inc., Annual General Meeting, Jun 22, 2022, at 09:00 Pacific Standard Time. Agenda: To consider To elect the two nominees named in the attached Proxy Statement as directors to serve on the Board of Directors for a three-year term; to ratify the selection of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2022; and to consider other matter. Announcement • Apr 13
Harpoon Therapeutics, Inc. Presents Preclinical Data for TriTAC-XR Platform that Supports Potential for Improved Safety by Minimizing Cytokine Release Syndrome Harpoon Therapeutics, Inc. presented a poster with preclinical data for its TriTAC-XR T cell engager platform at the American Association for Cancer Research (AACR) Annual Meeting being held in New Orleans from April 8-13, 2022. Preclinical data from the TriTAC-XR platform demonstrated: TriTAC-XR is an extended-release T cell engager platform designed to mitigate cytokine release syndrome by releasing active T cell engagers from an inactive prodrug in a temporally controlled fashion, thus avoiding the very high exposures (Cmax) that occur shortly after administration with constitutively active molecules. Single doses of FLT3 and CD19 as well as weekly doses of CD20 TriTAC-XR produced similar PD effects with significantly lower cytokines than a comparable TriTAC in animal models. The expected safety improvement of TriTAC-XR could enable the treatment of non-oncology diseases in addition to solid tumors and hematologic malignancies. Harpoon’s first platform, the constitutively active TriTAC, is designed to minimize off-target toxicities, and is ideal for targets with limited on-target liabilities. The ProTriTAC platform offers similar advantages and adds an element of spatial control, with activation directed primarily to the tumor microenvironment. This spatial control of activation may address on-target tissue damage, hence enabling an expansion of the T cell engager target space. The TriTAC-XR adds improved temporal control and is designed to be activated in the systemic circulation at a predefined rate to minimize on-target CRS. Announcement • Apr 08
Natalie Sacks to Leave Harpoon Therapeutics, Inc. as Chief Medical Officer, Effective June 1, 2022 Harpoon Therapeutics, Inc. announced that Natalie Sacks, M.D., Chief Medical Officer, will be leaving the company effective June 1, 2022. Dr. Sacks will serve as a consultant to Harpoon through the end of the year. While the executive search for a new Chief Medical Officer is ongoing, Yifah Yaron, M.D., Ph.D., and Mark Sayles, M.D., Ph.D., both Medical Team Leaders, will continue to advance the Company’s clinical programs, HPN328 and HPN217, and direct clinical activities for the entire portfolio. Reported Earnings • Mar 12
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$3.62 loss per share (down from US$1.99 loss in FY 2020). Revenue: US$23.7m (up 36% from FY 2020). Net loss: US$116.7m (loss widened 134% from FY 2020). Products in clinical trials Phase I: 3 Revenue missed analyst estimates by 8.8%. Over the next year, revenue is forecast to grow 2.9%, compared to a 76% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Mar 04
Harpoon Therapeutics Receives FDA Fast Track Designation for HPN217 Harpoon Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to HPN217, a BCMA-targeting TriTAC®, for the treatment of patients with relapsed, refractory multiple myeloma (RRMM) who have received at least four lines of therapy. A Phase 1/2 clinical trial is currently ongoing for HPN217 in the RRMM patient population. In November 2019, Harpoon Therapeutics and AbbVie announced a licensing agreement and option to advance HPN217 and expand an existing discovery collaboration. Under the terms of the agreement, AbbVie may exercise its option to license HPN217 after completion of the Phase 1/2 clinical trial.