CASCADIAN THERAPEUTICS, INC. (CASC) SPO
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|Company Name||CASCADIAN THERAPEUTICS, INC.|
|Company Address||3101 WESTERN AVE.
SEATTLE, WA 98121
|Company Phone||(206) 801-2100|
|CEO||Scott D. Myers|
|Employees (as of 12/31/2016)||57|
|State of Inc||DE|
|Fiscal Year End||12/31|
|Exchange||NASDAQ Global Select|
|Shares Over Alloted||--|
|Shareholder Shares Offered||--|
|Lockup Period (days)||180|
|Quiet Period Expiration||--|
We will retain broad discretion over the use of the net proceeds to us from the sale of our securities under this prospectus. Unless otherwise provided in the applicable prospectus supplement, we intend to use the net proceeds from the sale of securities under this prospectus for general corporate purposes, which may include funding research and development of our product candidates, expanding our manufacturing capabilities, increasing our working capital, acquisitions or investments in businesses, products or technologies that are complementary to our own and capital expenditures. We will set forth in the prospectus supplement our intended use for the net proceeds received from the sale of any securities. Pending the use of the net proceeds, we intend to invest the net proceeds in short-term or long-term, investment-grade, interest-bearing securities.
The pharmaceutical and biotechnology industries are intensely competitive, and any product candidate developed by us will compete with existing drugs and therapies. There are many pharmaceutical companies, biotechnology companies, public and private universities, government agencies and research organizations that compete with us in developing various approaches to cancer therapy. Many of these organizations have substantially greater financial, technical, manufacturing and marketing resources than we have. Several of them have developed or are developing therapies that could be used for treatment of the same diseases that we are targeting. In addition, many of these competitors have significant commercial infrastructures that we do not currently have. Our ability to compete successfully will depend largely on our ability to: • design and develop products that are superior to other products in the market and under development; • attract and retain qualified scientific, product development, manufacturing and commercial personnel; • obtain patent and/or other proprietary protection for our product candidates and technologies; • obtain required regulatory approvals; • successfully collaborate with pharmaceutical companies in the design, development and commercialization of new products; • compete on, among other things, product efficacy and safety profile, time to market, price, and the types of and convenience of treatment procedures; and • identify, secure the rights to and develop products and exploit these products commercially before others are able to develop competitive products. Our ability to compete may be affected by government policies relating to the pricing and reimbursement of proprietary drug products and the policies of insurers and other third party payors encouraging the use of generic products, all of which may make branded products less attractive to buyers from a cost perspective. Tucatinib. Tucatinib is an inhibitor of the receptor tyrosine kinase HER2, also known as ErbB2. Multiple marketed products target HER2, including the antibodies trastuzumab (Herceptin) and pertuzumab (Perjeta) and the antibody toxin conjugate ado-trastuzumab emtansine (Kadcyla), all from Roche/Genentech. In addition, GlaxoSmithKline markets the dual HER1/HER2 oral kinase inhibitor lapatinib (Tykerb) for the treatment of metastatic breast cancer, Puma Biotechnology is developing the HER1/HER2/HER4 inhibitor neratinib in Phase 3 clinical trials, and Macrogenics is developing margetuximab, a HER2 targeted, Fc-optimized antibody in Phase 3 clinical trials. With respect to checkpoint kinase 1 Inhibitors, there are currently no marketed drugs which specifically target Chk1. There are other Chk1 inhibitors in clinical trials, the most advanced of which is in a Phase 2 study.
We are a clinical-stage biopharmaceutical company focused on the development of therapeutic products for the treatment of cancer. Our goal is to develop and commercialize novel targeted compounds that have the potential to improve the lives and outcomes of cancer patients. Our lead product
candidate is tucatinib, an investigational oral, selective small molecule HER2 inhibitor. We are conducting a randomized, double-blind, controlled pivotal clinical trial called HER2CLIMB, which is comparing tucatinib vs. placebo, each in combination with capecitabine and trastuzumab, in patients with locally advanced or metastatic HER2+ breast cancer with and without brain metastases, who have previously been treated with trastuzumab, pertuzumab and T-DM1. Tucatinib is also being studied in other cancers through investigator initiated studies, including HER2+ metastatic colorectal cancer and earlier lines of hormone receptor-positive (HR+)/HER2+ metastatic breast cancer. Tucatinib is an investigational, orally bioavailable, potent tyrosine kinase inhibitor that is highly selective for HER2 without inhibition of EGFR. Inhibition of EGFR has been associated with clinical toxicities, including skin rash and diarrhea. Tucatinib has shown activity as a single agent and in combination with both chemotherapy and other HER2 directed agents such as trastuzumab. Studies of tucatinib in these combinations have shown activity both systemically and in brain metastases. HER2 is a growth factor receptor that is overexpressed in multiple cancers, including breast, ovarian and gastric cancers. HER2 mediates cell growth, differentiation and survival. Tumors that overexpress HER2 (HER2+) are more aggressive and historically have been associated with poor overall survival, compared with HER2-negative cancers. We have an exclusive license agreement with Array BioPharma Inc. for the worldwide rights to develop, manufacture and commercialize tucatinib. --- Cascadian Therapeutics, Inc. is the successor corporation to Biomira Inc. On August 23, 1985, Biomira Inc. was incorporated under the Canada Business Corporations Act. We were incorporated in the state of Delaware on September 7, 2007. On December 10, 2007, we became the successor corporation to Biomira by way of an arrangement effected pursuant to Canadian law. Our executive office is located at 3101 Western Avenue, Suite 600, Seattle, Washington 98121 and our telephone number is (206) 801-2100. We maintain an Internet website at www.cascadianrx.com.
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