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Micromet, Inc. Reports Second Quarter 2009 Financial Results
Date:8/6/2009

BETHESDA, Md., Aug. 6 /PRNewswire-FirstCall/ -- Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases, today announced its financial results for the second quarter and six months ended June 30, 2009.

In the second quarter of 2009, Micromet achieved a number of significant milestones illustrating its continued progress in the clinic and in corporate development. The milestones included presentations of preclinical data on EGFR-targeting BiTE antibodies as well as Micromet's BiTE antibody MT110, which targets EpCAM, at the American Association of Cancer Research (AACR) conference, the presentation of a product pipeline update at a research and development day for investors and analysts, the presentation of adecatumumab (MT201) phase 1b combination data at the American Society of Clinical Oncology (ASCO) meeting, the presentation of blinatumomab phase 2 data in acute lymphoblastic leukemia (ALL) at the 14(th) Congress of the European Hematology Association (EHA), the initiation of the first clinical trial with MT203, and the addition of Micromet's common stock to the Russell 3000 index. These developments are further summarized below:

  • On April 22, Micromet presented preclinical data showing activity in vivo and in vitro of EGFR-targeting BiTE antibodies against KRAS- and BRAF-mutated human colorectal cancer cells at the AACR meeting. The non-clinical data indicated that Micromet's BiTE antibodies developed from the currently marketed EGFR-specific monoclonal antibodies Erbitux(R) (cetuximab) and Vectibix(R) (panitumumab) appeared to overcome the resistance of mutated tumor cells to those monoclonal antibodies. Micromet also presented data at the AACR meeting indicating that its BiTE antibody MT110
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SOURCE Micromet, Inc.
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