OncoMed (OMED) Reports Third Quarter 2016 Financial Results
11/2/2016 8:13:44 AM
REDWOOD CITY, Calif., Nov. 01, 2016 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals, Inc. (Nasdaq:OMED), a clinical-stage company focused on discovering and developing novel anti-cancer stem cell and immuno-oncology therapeutics, today reported third quarter financial results. As of September 30, 2016, cash, cash equivalents and short-term investments totaled $207.6 million.
“OncoMed remains focused on execution across our pipeline, completing enrollment in two randomized Phase 2 trials for demcizumab and tarextumab and driving toward randomized Phase 2 results and potential partner opt-ins in the first half of 2017,” said Paul J. Hastings, Chairman and Chief Executive Officer. “Additionally, we will continue to generate new data on multiple compounds in the clinic, and we expect to file INDs for two immuno-oncology programs in late 2016 though the first half of 2017.”
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