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Bellicum Pharmaceuticals, Inc. (BLCM)

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7.06-0.43 (-5.74%)
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Neutralpattern detected
Previous Close7.49
Open7.50
Bid6.45 x 800
Ask7.69 x 800
Day's Range6.87 - 7.66
52 Week Range3.32 - 27.90
Volume52,125
Avg. Volume68,060
Market Cap35.652M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-17.50
Earnings DateAug 06, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est17.33
  • GlobeNewswire

    Bellicum Reports Second Quarter 2020 Financial Results and Provides Operational Update

    Received FDA IND clearance to initiate Phase 1/2 clinical trial for BPX-603 for HER2+ solid tumors Initial data for BPX-601 cohort 5C to be presented at a medical meeting by the end of 2020Management to host conference call and webcast today at 5 p.m. ET / 2 p.m. PTHOUSTON, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ: BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today reported financial results for the second quarter 2020 and provided an operational update.“Bellicum continued to make significant progress in the second quarter, highlighted by FDA clearance of our IND for BPX-603, our first dual-switch Go-CAR-T® product candidate to enter clinical development,” said Rick Fair, President and Chief Executive Officer of Bellicum. “We expect to be entering a period of accelerated news flow for our company with multiple data readouts planned in the next 24 months, starting in the fourth quarter with our initial presentation of the BPX-601 Phase 1 cohort 5C with repeat rimiducid.”Program Highlights and Current UpdatesBPX-601 GoCAR-T® * Bellicum continues to enroll patients in cohort 5C of the BPX-601 clinical trial in second-line metastatic pancreatic cancer to evaluate the safety of repeat rimiducid dosing to re-activate BPX-601 cells over time. Bellicum plans to present interim results for this cohort at a medical meeting by the end of the year. The study has experienced modest enrollment delays and data collection issues related to the COVID-19 pandemic which may impact the number of patients, duration of follow-up and data to be presented.   * In addition, Bellicum has submitted an amendment to the FDA to modify the BPX-601 trial by: (1) expanding eligibility to third-line pancreatic cancer patients; (2) extending dose escalation of BPX-601 cells to 1x107 cells/kg; and (3) opening a cohort in relapsed metastatic castration-resistant prostate cancer. The company expects to begin enrolling under this amended protocol later this year.BPX-603 GoCAR-T * In June 2020, Bellicum received clearance from the U.S. Food and Drug Administration (FDA) of its investigational new drug application (IND) for BPX-603. BPX-603 is a GoCAR-T product candidate targeting solid tumors that express human epidermal growth factor receptor 2 (HER2). BPX-603 is the company’s first dual-switch GoCAR-T product candidate, which incorporates both the company’s iMC activation and CaspaCIDe® safety switch technologies and the company plans to initiate a Phase 1/2 basket trial in solid tumors that express HER2 later this year.BCMA GoCAR-NK™ Program * In May 2020, preclinical data from Bellicum’s GoCAR-NK cell program was published in the digital edition of Blood Advances, a journal published by The American Society of Hematology, illustrating that the incorporation of iMC into CAR-NK cells was found to improve cell proliferation and persistence, stimulate cytokine production, and enhance innate cytotoxicity against tumor cells in multiple models. Preclinical development activities are continuing for Bellicum’s GoCAR-NK program targeting B-cell maturation antigen, or BCMA, for the treatment of multiple myeloma. Management expects to present additional preclinical data for this program by the end of 2020.Corporate Highlights * In April 2020, Bellicum closed a transaction in which The University of Texas MD Anderson Cancer Center acquired Bellicum’s approximately 60,000-square-foot Houston facility, including manufacturing, office and laboratory space, for $15.0 million. Concurrent with this transaction, Bellicum partially repaid approximately $7.0 million of its Oxford Finance debt obligations.Second Quarter 2020 Financial ResultsR&D Expenses: Research and development (R&D) expenses were $11.8 million and $22.2 million for the three and six months ended June 30, 2020, respectively, compared to $20.0 million and $36.9 million for the three and six months ended June 30, 2019, respectively. The reduction in expenses in the second quarter and first half of 2020 resulted primarily from reduced expenses related to reduced rivo-cel related activities, reduced expenses resulting from the manufacturing facility sale and the reduction in force implemented during the second half of 2019, partially offset by an increase in expenses related to the GoCAR™ programs.G&A Expenses: General and administrative (G&A) expenses were $3.8 million and $7.9 million for the three and six months ended June 30, 2020, respectively, compared to $7.5 million and $15.1 million for the three and six months ended June 30, 2019, respectively. The reduction in expenses during the second quarter and first half of 2020 relative to the comparable period in 2019 was primarily due to the reduction in rivo-cel related commercialization activities as well as the effects of the reduction in force that reduced employee-related charges.Loss from Operations: Bellicum reported a loss from operations of $11.8 million and $26.4 million for the three and six months ended June 30, 2020, respectively, compared to a loss from operations of $26.2 million and $50.0 million for the three and six months ended June 30, 2019, respectively. The results for the three and six months ended June 30, 2020 included a net gain on dispositions of $3.8 million due to the manufacturing facility sale. Cash used in operating activities was $30.5 million for the six months ended June 30, 2020, compared to cash used in operating activities of $46.0 million for the six months ended June 30, 2019.Net Loss: Bellicum reported net loss of $43.2 million and $25.6 million for the three and six months ended June 30, 2020, respectively, compared to a net loss of $26.9 million and $51.5 million for the three and six months ended June 30, 2019, respectively. The results included a non-cash loss of $30.7 million and non-cash gain of $2.1 million related to the change in fair value of warrant and private placement option liability for the three and six months ended June 30, 2020, respectively.Shares Outstanding: As of June 30, 2020, Bellicum had 5,059,779 shares of common stock and 534,000 shares of preferred stock outstanding. Each share of preferred stock can be converted into 10 shares of common stock.Cash Position and Guidance: Bellicum reported cash and cash equivalents and restricted cash totaling $68.0 million as of June 30, 2020, compared to $93.8 million as of December 31, 2019. Based on current operating plans, Bellicum expects that current cash resources will be sufficient to meet operating requirements into the second half of 2021. Management expects cash utilization of $55 to $65 million in 2020.Potential MilestonesBelow is a summary of notable anticipated milestones for our ongoing programs:            BPX-601 * * Initial Phase 1 cohort 5C data (repeat rimiducid) – pancreatic cancer: Q4’20 * Phase 1/2 data update – pancreatic cancer: 2H’21 * Initial Phase 1/2 data – prostate cancer: 2022            BPX-603 * * Initiate Phase 1/2 trial: 2H’20 * Initial Phase 1 data: 2H’21 * Phase 1 data update: 2022            BCMA GoCAR-NK * * Preclinical data update: Q4’20 * Preclinical data update: 2H’21 * IND clearance: 2022Conference Call and WebcastBellicum’s management will host a webcast and conference call today at 5 p.m. ET / 2 p.m. PT, August 6, 2020, to discuss the financial results for the second quarter 2020 and provide a corporate update. The live call may be accessed by dialing (800) 920-0677 for domestic callers and (212) 231-2908 for international callers. A live webcast of the call will be available from the Investors and Media section of the company’s website at www.bellicum.com and a replay will be available shortly after the live event.About Bellicum PharmaceuticalsBellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and CAR-NK cell therapies. Bellicum’s GoCAR-T® product candidates, BPX-601 and BPX-603, are designed to be more efficacious CAR-T cell products capable of overriding key immune inhibitory mechanisms. More information about Bellicum can be found at www.bellicum.com.Forward-Looking StatementsThis press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Bellicum may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “designed,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our research and development activities and expectations regarding presenting data for our BPX-601, BPX-603, GoCAR-NK and other cell therapy programs, our ability to enroll patients and generate meaningful clinical data in our ongoing GoCAR clinical programs; whether we will be able to amend the ongoing BPX-601 protocol to treat additional patient populations including patients with prostate cancer; our ability to initiate a clinical trial in BPX-603, including site selection and start-up; our ability to make additional progress on the nonclinical development of the BCMA-GoCAR-NK candidate; the potential impact of the COVID-19 on enrollment in clinical trials and other aspects of our business; our expected cash runway; and the anticipated milestones identified above. Various factors may cause differences between Bellicum’s expectations and actual results as discussed in greater detail under the heading “Risk Factors” in Bellicum’s filings with the Securities and Exchange Commission, including without limitation our quarterly report on Form 10-Q for the three months ended March 31, 2020 and our annual report on Form 10-K the year ended December 31, 2019. Any forward-looking statements that Bellicum makes in this press release speak only as of the date of this press release. Bellicum assumes no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.BELLICUM PHARMACEUTICALS, INC.     Consolidated Balance Sheets    (Unaudited; in thousands)             June 30, December 31,   2020 2019 Current Assets:     Cash and cash equivalents $66,408  $91,028  Restricted cash, current87  2,788  Accounts receivable, interest and other receivables 127  303  Prepaid expenses and other current assets 1,528  884  Assets held for sale —  16,851        Non-Current Assets:     Operating lease right-of-use assets 869  1,042  Property and equipment, net 1,615  2,529  Restricted cash, non-current 1,500  —  Other assets 341  825  Total assets $72,475  $116,250        Current Liabilities:    Accounts payable $2,486  $2,643  Accrued expenses and other current liabilities 7,108  9,770  Warrant derivative liability 28,183  52,184  Private placement option liability 33,970  12,094  Current portion of long-term debt 6,390  11,000  Current portion of lease liabilities 491  454  Liabilities held for sale —  6,273        Long-Term Liabilities:     Long-term debt, net of deferred issuance costs 20,715  25,717  Long-term lease liabilities 609  864        Preferred stock 21,308  21,468  Total stockholders' deficit (48,785) (26,217) Total liabilities, preferred stock and stockholders' deficit $72,475  $116,250  BELLICUM PHARMACEUTICALS, INC.         Consolidated Statements of Operations (Unaudited; in thousands, except share and per share amounts)           Three months ended Six months ended   June 30, June 30,   2020 2019 2020 2019           Grant Revenues $—  $1,391  $—  $1,907            Operating Expenses:         Research and development 11,758  20,032  22,206  36,880  General and administrative 3,761  7,518  7,932  15,054  Total operating expenses 15,519  27,550  30,138  51,934  Gain on dispositions, net (3,761) —  (3,761) —   Loss from operations (11,758) (26,159) (26,377) (50,027) Interest income 28  311  382  721  Interest expense (763) (1,088) (1,748) (2,158) Change in fair value of warrant and private placement option liabilities (30,701) —  2,125  —  Net loss $(43,194) $(26,936) $(25,618) $(51,464)           Net loss per common share attributable to common shareholders, basic and diluted $(8.55) $(5.85) $(5.08) $(11.40)           Weighted-average shares outstanding, basic and diluted 5,052,234  4,605,234  5,045,965  4,515,311    Source: Bellicum PharmaceuticalsInvestors: Robert H. Uhl Managing Director Westwicke ICR 858-356-5932 Robert.uhl@westwicke.com

  • GlobeNewswire

    Bellicum Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

    HOUSTON, July 31, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced equity inducement grants to two new employees consisting of an aggregate of 3,520 stock options. The Compensation Committee of the Board of Directors approved the grants with an effective date of July 31, 2020. The stock options were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $6.71 per share and vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the Company.  The stock options are subject to the terms and conditions of the Company's 2019 Equity Incentive Plan and a stock option agreement covering the grant.About Bellicum PharmaceuticalsBellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and CAR-NK cell therapies. Bellicum’s GoCAR-T® product candidates, BPX-601 and BPX-603, are designed to be more efficacious CAR-T cell products capable of overriding key immune inhibitory mechanisms. More information about Bellicum can be found at www.bellicum.com.​  Source: Bellicum PharmaceuticalsInvestors: Robert H. Uhl Managing Director Westwicke ICR 858-356-5932 Robert.uhl@westwicke.com

  • GlobeNewswire

    Bellicum to Report Second Quarter 2020 Financial Results and Provide Corporate Update

    Management to host webcast and conference call on Thursday, August 6, 2020 at 5 p.m. ET / 2 p.m. PTHOUSTON, July 30, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced it will report financial results for the second quarter 2020 after the close of U.S. markets on Thursday, August 6, 2020. Management will host a webcast and conference call at 5 p.m. ET / 2 p.m. PT that day to discuss the financial results and provide a corporate update. The live call may be accessed by dialing 800-920-0677 (U.S. domestic) and 212-231-2908 (international) at least 10 minutes prior to the start of the call. The event will be webcast live and can also be accessed in the Events & Presentations section of bellicum.com. An archived version of the webcast will be available for replay in the Investors & Media section of the Bellicum website following the call.About Bellicum PharmaceuticalsBellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and CAR-NK cell therapies. Bellicum’s GoCAR-T® product candidates, BPX-601 and BPX-603, are designed to be more efficacious CAR-T cell products capable of overriding key immune inhibitory mechanisms. More information about Bellicum can be found at www.bellicum.com.​Source: Bellicum PharmaceuticalsInvestors: Robert H. Uhl Managing Director Westwicke ICR 858-356-5932 Robert.uhl@westwicke.com