Vincerx Pharma Announces Q1 2024 Financial Results and Corporate Update

Vincerx Pharma, Inc., a biopharmaceutical company committed to addressing unmet medical needs in oncology, reported its first-quarter 2024 financial results and provided a corporate update. The company has made significant progress across its pipeline, including its key programs: VIP943, VIP236, and enitociclib.

During the first quarter, Vincerx made strides in its Phase 1 dose-escalation studies for VIP943 and VIP236. CEO Ahmed Hamdy emphasized that recent financing will support the continued development of these promising candidates. The company anticipates releasing updated data for VIP236 and VIP943 by the end of the third and fourth quarters of 2024, respectively.

VIP236 is a first-in-class small molecule-drug conjugate (SMDC) designed to deliver its payload directly to tumor tissues, thereby reducing chemotherapy-related side effects. Preclinical studies have shown that VIP236 can deliver 11 times more of its optimized camptothecin (CPT) payload to cancerous tissues compared to what is found circulating in the blood. The Phase 1 study of VIP236 has enrolled 20 patients with advanced or metastatic cancers, showing signs of clinical activity and an improved safety profile.

VIP943 is an anti-CD123 antibody-drug conjugate (ADC) that targets CD123-expressing cells. It includes a novel linker and payload designed to enhance efficacy and reduce toxicity, addressing common challenges associated with traditional ADCs. The Phase 1 study has enrolled patients with relapsed or refractory acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), and B-cell acute lymphoblastic leukemia (B-ALL). Preliminary results indicate minimal payload circulation in the blood and no dose-limiting toxicities among the first 11 patients treated.

Enitociclib, a selective CDK9 inhibitor, is being evaluated in combination with venetoclax and prednisone for diffuse large B-cell lymphoma (DLBCL) and peripheral T-cell lymphoma (PTCL) in collaboration with the National Institutes of Health (NIH). Positive Phase 1 results include partial responses (PRs) in patients with PTCL and DLBCL, with notable tumor reductions. Enitociclib has also shown favorable safety, pharmacokinetics, and clinical activity as a monotherapy, with durable responses in heavily pretreated patients.

Beyond these lead candidates, Vincerx is developing VIP924, a first-in-class CXCR5-targeted ADC for B-cell malignancies. The company plans to submit an Investigational New Drug (IND) application by late 2025 or early 2026, contingent on funding.

Vincerx’s proprietary VersAptx™ platform has been instrumental in these developments. This versatile bioconjugation platform allows for the creation of customized bioconjugates by combining different targeting, linker, and payload technologies. Preclinical studies presented at the 2024 American Association for Cancer Research (AACR) Annual Meeting demonstrated the potential of VersAptx to enhance the efficacy and safety of existing ADCs like TRODELVY® and ENHERTU®.

Financially, Vincerx ended the first quarter with approximately $5.1 million in cash and equivalents, not including proceeds from recent financing. Research and development expenses for the quarter were around $4.6 million, significantly lower than the $10.9 million spent in the same period of 2023. General and administrative expenses also decreased, amounting to $2.9 million compared to $4.5 million in the previous year. The company reported a net loss of approximately $12.4 million for the first quarter of 2024, compared to a $14.6 million net loss in the first quarter of 2023.

Vincerx remains committed to advancing its diverse pipeline to address various cancer types, leveraging its experienced management team and innovative technologies. The company’s efforts to bring differentiated therapies to market aim to significantly impact patients with hard-to-treat malignancies.