Calithera Biosciences Reports First Quarter 2017 Financial Results And Recent Highlights

SOUTH SAN FRANCISCO, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Calithera Biosciences, Inc. (Nasdaq:CALA), a clinical-stage pharmaceutical company focused on discovering and developing novel small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer, announced today its financial results for the first quarter ended March 31, 2017. As of March 31, 2017, cash, cash equivalents and investments totaled $207.1 million.

“During the first quarter, we significantly strengthened the company’s financial position and we believe we are well positioned to execute on our strategy. Our collaboration and license agreement with Incyte maximizes the clinical and commercial potential of CB-1158, and we are pleased to have achieved the first milestone in March,” said Susan Molineaux, PhD, President and Chief Executive Officer of Calithera. “Looking forward to 2017, we are on track to highlight new clinical data from each of our clinical programs at scientific meetings, including an oral presentation of CB-1158 data at the American Society of Clinical Oncology in June, and multiple clinical updates on CB-839 in renal cell carcinoma and triple negative breast cancer in the second half of 2017. We also plan to present initial results of CB-839 dosed in combination with Bristol Myers Squibb’s Opdivo®.”

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