 - Conference Call Scheduled August 12, 2020 at 4:30 p.m. ET -BERKELEY HEIGHTS, N.J., Aug. 12, 2020 GLOBE NEWSWIRE -- Cyclacel Pharmaceuticals, Inc. NASDAQ: CYCC, NASDAQ: CYCCP; Cyclacel or the Company, a biopharmaceutical company developing innovative medicines based on cancer cell biology, today reported its financial results for the second quarter 2020 and business highlights, including an update on its progress with fadraciclib, Cyclacels novel CDK29 inhibitor. The Companys net loss applicable to common shareholders for the three months ended June 30, 2020 was 2.2 million. As of June 30, 2020, cash and cash equivalents totaled 25.3 million. Based on current spending, the Company estimates it has sufficient resources to fund planned operations, including research and development, through the end of 2022.We believe fadraciclib is establishing a leadership position among MCL1 suppressing compounds in development. Our recent, peer-reviewed publication elaborates the mechanistic rationale for fadraciclib as an anti-cancer therapy signifying the benefits of inhibiting CDK2 and CDK9, two complementary cancer pathways, said Spiro Rombotis, President and Chief Executive Officer. We continue to be encouraged by observations of deep partial response and prolonged stable disease with tumor shrinkage as an intravenously administered monotherapy in patients with advanced solid tumors and antileukemic activity in combination with venetoclax. In parallel with evaluating fadraciclib in certain leukemias, we are executing a precision medicine strategy to evaluate the compound in patients with solid tumors with study enrollment expected to begin by the first quarter of 2021. As the global pandemic continues to unfold, our priorities are to ensure patient and employee safety and support efforts to stem COVID-19 disease as part of our corporate social responsibility. Despite the challenges we remain committed to our strategy of building an innovative pipeline addressing the rising problem of cancer resistance and achieving our clinical milestones to drive shareholder value.Key Corporate Highlights Announced publication of a peer-reviewed study of fadraciclib, in PLOS ONE. The publication, authored by scientists from Cyclacel and The Institute of Cancer Research, London, describes the discovery of fadraciclib and shows its ability to target CDK2 and CDK9, leading to broad therapeutic potential. CYC065-01 Phase 1 part 2 single agent i.v. As previously reported a heavily pretreated patient with MCL1 amplified endometrial cancer achieved a radiographically confirmed partial response PR after a month and a half on fadraciclib at 213mg. This patient continues on therapy for more than a year and reduction in her target tumor lesions is 83. An additional patient with cyclin E amplified ovarian cancer achieved stable disease with 29 tumor shrinkage after approximately four months at 213mg. We have submitted data for publication at a cancer conference later in the year. Based on data thus far, we are designing a Phase 12 precision medicine study to further evaluate fadraciclib as monotherapy and in combinations in patients with advanced solid tumors. CYC065-01 Phase 1 part 3 single agent p.o. - Initial data from an oral capsule formulation of fadraciclib given once daily to four patients with advanced solid tumors demonstrated a predictable pharmacokinetic profile closely overlapping the intravenous form with encouraging exposure levels. CYC065-03 Phase 1 fadraciclib i.v. and venetoclax p.o. in AMLMDS - We have dosed 11 heavily pretreated patients with relapsedrefractory RR AML in five dose levels up to 200 mgm2 of fadraciclib in combination with venetoclax. Evidence of anticancer activity has been observed in four out of eleven patients treated. Preclinical data in AML suggest that targeting both MCL1 and BCL2 may be more beneficial than inhibiting either protein alone. CYC065-02 Phase 1 fadraciclib i.v. and venetoclax p.o. in CLL - We have dosed 5 patients with RR CLL in four dose levels up to 150 mgm2 of fadraciclib in combination with venetoclax. Evidence of anticancer activity has been observed in two patients who achieved MRD negativity on the combination. Preclinical data suggest that targeting both BCL2 and MCL1 in CLL may be more beneficial than single agent treatment in this setting as well. CYC682-11 Phase 1 part 2 sapacitabine p.o. and venetoclax p.o. - We have enrolled 12 patients in a dose escalation study in our DNA Damage Response DDR program evaluating an oral combination of sapacitabine and venetoclax in patients with RR AMLMDS. Two patients, previously treated with combination therapies including hypomethylating agents, have achieved 5 and 6 cycles of treatment respectively. Sapacitabine is a nucleoside analogue that is active in AML and MDS RR to prior therapy such as cytarabine or hypomethylating agents. Preclinical data demonstrated synergy of sapacitabine with BCL2 inhibition, which may offer an effective, oral treatment regimen for patients who have failed front-line therapy. CYC140-01 Phase 1 CYC140 i.v. - We have enrolled 6 patients in our first-in-human, dose escalation study evaluating CYC140 in patients with advanced leukemias. CYC140 is a small molecule, selective polo-like-kinase 1 PLK1 inhibitor that has demonstrated potent and selective target inhibition and high activity in xenograft models of human cancers. In addition to hematological malignancies we are evaluating studies of CYC140 in solid tumors.More information on our clinical trials can be found here.Key Business Objectives Report updated fadraciclib Phase 1 safety and efficacy data with frequent i.v. dosing schedule in patients with advanced solid cancers; Report initial safety and PK data from Phase 1 study of fadraciclib oral formulation; Treat first patient in fadraciclib Phase 12 precision medicine study; Report initial data from fadraciclib-venetoclax Phase 1 study in RR AMLMDS CLL; Report initial data from sapacitabine-venetoclax Phase 1 study in RR AMLMDS; Report initial data from CYC140 Phase 1 first-in-human study in RR leukemias; and Report data from Phase 1b2 sapacitabine-olaparib IST in BRCA mutant metastatic breast cancer when reported by the investigators.Financial HighlightsAs of June 30, 2020, cash and cash equivalents totaled 25.3 million, compared to 11.9 million as of December 31, 2019. The increase of 13.4 million was primarily due to net proceeds of 18.3 million from an equity financing in April 2020 and net cash used in operating activities of 4.7 million. There were no revenues for each of the three months ended June 30, 2020 and 2019.Research and development expenses were 1.2 million for each of the three months ended June 30, 2020 and 2019. Research and development expenses relating to transcriptional regulation increased by approximately 0.2 million for the three months ended June 30, 2020 as we continue to progress the clinical evaluation of fadraciclib.General and administrative expenses for the three months ended June 30, 2020 were 1.3 million, compared to 1.2 million for the same period of the previous year.Total other income, net, for the three months ended June 30, 2020 was 20,000, compared to 0.2 million for the same period of the previous year. The decrease of approximately 0.2 million for the three months ended June 30, 2020 is primarily related to income received under an Asset Purchase Agreement with Thermo Fisher Scientific Inc.United Kingdom research development tax credits were 0.3 million for each of the three months ended June 30, 2020 and 2019.Net loss for the three months ended June 30, 2020 was 2.2 million compared to 1.8 million for the same period in 2019.The Company estimates that cash resources of 25.3 million as of June 30, 2020 will fund currently planned programs through 2022.Conference call information:USCanada call: 877 493-9121 international call: 973 582-2750 USCanada archive: 800 585-8367 international archive: 404 537-3406 Code for live and archived conference call is 2477369.For the live and archived webcast, please visit the Corporate Presentations page on the Cyclacel website at The webcast will be archived for 90 days and the audio replay for 7 days. About Cyclacel Pharmaceuticals, Inc.Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company developing innovative cancer medicines based on cell cycle, transcriptional regulation and DNA damage response biology. The transcriptional regulation program is evaluating fadraciclib as a single agent in solid tumors and in combination with venetoclax in patients with relapsed or refractory AMLMDS and CLL. The DNA damage response program is evaluating an oral combination of sapacitabine and venetoclax in patients with relapsed or refractory AMLMDS. An investigator-sponsored trial IST is evaluating an oral combination of sapacitabine and olaparib in patients with BRCA mutant breast cancer. The anti-mitotic program is evaluating CYC140, a PLK1 inhibitor, in advanced leukemiasMDS patients. Cyclacels strategy is to build a diversified biopharmaceutical business focused in hematology and oncology based on a pipeline of novel drug candidates. For additional information, please visit StatementsThis news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. 