PHILADELPHIA, Jan. 31, 2019 (GLOBE NEWSWIRE) — Spark Therapeutics (NASDAQ:ONCE), a fully integrated, commercial gene therapy company dedicated to challenging the inevitability of genetic disease, announced today the presentation of preclinical data for SPK-3006 for Pompe disease and SPK-1001 for CLN2 disease, a form of Batten disease, on Wednesday, Feb. 6, 2019, at the 15th Annual WORLDSymposium™ in Orlando, FL.
Giuseppe Ronzitti , Ph.D., team leader at Genethon and researcher at theFrench National Institute of Health and Medical Research (INSERM), will present preclinical data for SPK-3006, an investigational liver-directed adeno-associated viral (AAV) gene therapy for Pompe disease, at8:45am ET . During his presentation on the “Safety and efficacy evaluation of investigational liver gene transfer for secretable GAA in the treatment of Pompe disease,” Dr. Ronzitti will share previously disclosed data from investigational new drug (IND)-enabling studies that support an IND filing bySpark Therapeutics expected 2Q 2019.
David Anderson , Ph.D., CNS research lead atSpark Therapeutics , will present a poster, entitled “Safety and tolerability evaluation in non-human primates of ependymal transduction with an AAV2-CAG-hTpp1 vector for the treatment of late infantile neuronal ceroid lipofuscinosis,” on preclinical data for SPK-1001, an investigational AAV gene therapy for CLN2 disease, a form of Batten disease, scheduled between4:30-6:30pm ET .
About SPK-3006 for Pompe disease
SPK-3006 is an investigational liver-directed AAV gene therapy for Pompe disease. SPK-3006 has been engineered to produce a modified enzyme that is secreted from the liver, which may sustain GAA plasma levels and lower immunogenicity to GAA to potentially provide greater uptake in muscle tissue. The transgene was in-licensed in 2017 from Genethon, a non-profit research and development organization dedicated to the development of gene therapies for orphan genetic diseases from research to clinical validation. Spark Therapeutics retains global commercialization rights to SPK-3006.
About SPK-1001 for CLN2 disease, a form of Batten disease
SPK-1001 is an investigational central nervous system (CNS)-directed AAV gene therapy that has demonstrated compelling preclinical proof-of-concept in a naturally occurring model of TPP1 deficiency, a form of Batten disease. Batten disease is a fatal neurological disorder involving mutations of the TPP1 gene that begins in early childhood. Spark Therapeutics has received orphan drug designation from the U.S. Food and Drug Administration for SPK-1001 for the treatment of CNL2 disease [neuronal ceroid lipofuscinosis (NCL)] caused by TPP1 deficiency. Spark Therapeutics retains global rights to SPK-1001.
About Spark Therapeutics
At Spark Therapeutics, a fully integrated, commercial company committed to discovering, developing and delivering gene therapies, we challenge the inevitability of genetic diseases, including blindness, hemophilia, lysosomal storage disorders and neurodegenerative diseases. We have successfully applied our technology in the first gene therapy approved in both the U.S. and EU for a genetic disease, and currently have four programs in clinical trials, including product candidates that have shown promising early results in patients with hemophilia. At Spark, we see the path to a world where no life is limited by genetic disease. For more information, visit www.sparktx.com, and follow us on Twitter and LinkedIn.
Spark Therapeutics Cautionary note on forward-looking statements
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s SPK-3006 and SPK-1001 programs. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘predict,’’ ‘‘will,’’ ‘‘would,’’ ‘‘could,’’ ‘‘should,’’ ‘‘continue’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that: (i) the data for SPK-3006 IND-enabling studies may not be sustained; (ii) we may not submit an IND application or Clinical Trial Application or initiate a U.S. and EU Phase 1/2 clinical trial in adult patients when expected or at all; and (iii) the data from our safety and tolerability evaluation in non-human primates for SPK-1001 may not be sustained. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other filings we make with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of the release, and Spark undertakes no duty to update this information unless required by law.
| Investor Contact: | Media Contact: |
| Ryan Asay | Monique da Silva |
| Ryan.asay@sparktx.com | Monique.dasilva@sparktx.com |
| (215) 239-6424 | (215) 282-7470 |
| Spark Therapeutics, Inc. | |||||||
| Consolidated balance sheets (unaudited) | |||||||
| (in thousands, except share and per share data) | |||||||
| December 31, 2017 |
December 31, 2018 |
||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 96,748 | $ | 95,247 | |||
| Marketable securities | 423,419 | 358,359 | |||||
| Trade and other receivables | 7,906 | 47,385 | |||||
| Inventory | — | 25,637 | |||||
| Prepaid expenses and other current assets | 5,093 | 40,512 | |||||
| Total current assets | 533,166 | 567,140 | |||||
| Restricted cash | — | 53,000 | |||||
| Marketable securities | 20,035 | 94,678 | |||||
| Property and equipment, net | 61,713 | 95,998 | |||||
| Goodwill | 1,254 | 1,198 | |||||
| Other assets | 628 | 2,338 | |||||
| Total assets | $ | 616,796 | $ | 814,352 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 14,183 | $ | 19,492 | |||
| Accrued expenses | 24,697 | 34,790 | |||||
| Current portion of long-term debt | 312 | 4,822 | |||||
| Current portion of deferred rent | 969 | 1,365 | |||||
| Current portion of deferred revenue | 11,969 | — | |||||
| Current other liabilities | 1,557 | 1,885 | |||||
| Total current liabilities | 53,687 | 62,354 | |||||
| Long-term debt | 912 | 46,090 | |||||
| Long-term deferred rent | 8,318 | 10,885 | |||||
| Long-term deferred revenue | — | 160,000 | |||||
| Other liabilities | 40,255 | 38,510 | |||||
| Total liabilities | 103,172 | 317,839 | |||||
| Stockholders’ equity: | |||||||
| Preferred stock, $0.001 par value. Authorized, 5,000,000 shares; no shares issued or outstanding | — | — | |||||
| Common stock, $0.001 par value. Authorized, 150,000,000 shares; 37,131,626 shares issued and 37,111,404 shares outstanding as of December 31, 2017; 37,764,213 shares issued and 37,686,301 shares outstanding as of December 31, 2018 | 37 | 38 | |||||
| Additional paid-in capital | 1,026,590 | 1,091,873 | |||||
| Accumulated other comprehensive loss | (5,914 | ) | (1,050 | ) | |||
| Treasury stock, at cost, 20,222 shares as of December 31, 2017 and 77,912 shares as of December 31, 2018 | (1,226 | ) | (4,661 | ) | |||
| Accumulated deficit | (505,863 | ) | (589,687 | ) | |||
| Total stockholders’ equity | 513,624 | 496,513 | |||||
| Total liabilities and stockholders’ equity | $ | 616,796 | $ | 814,352 | |||
