Thank you. (Nasdaq: AGEN) will host a conference call today to discuss its global license, development and commercialization agreement with Incyte Corporation (Nasdaq: INCY) for novel immuno-oncology antibodies, which was announced earlier this morning. The company also has various product candidates under development, which include QS-21 Stimulon adjuvant, which is in Phase III clinical trials for the treatment of non-small cell lung cancer, melanoma, malaria, and singles, as well as in Phase II clinical trials for the treatment of Alzheimer’s disease. On top of this, an Australian biotech Admedus announced positive early clinical results of their own genital herpes vaccine. However, I think that as investors have time to think through the implications of the announcement that the stock could recover a good part of its losses. Barnes. Children receiving the vaccine candidate but not a booster dose had lower rates of protection.
Infants aged 6-12 weeks at first vaccination with RTS,S had 27% fewer cases of clinical malaria, resulting in 444 cases of clinical malaria prevented over 18 months of follow-up for every 1,000 infants vaccinated. We are also advancing a series of HSP peptide-based vaccines to treat cancer. The adjuvant is a key component of investigational vaccines to prevent a wide variety of infectious diseases, and therapeutic vaccines for cancer and degenerative disorders. We also recorded non-cash expenses for the quarter ended December 31, 2014 of $6.6 million, due to the fair value adjustment of the contingent purchase price consideration, and $7.7 million related to the fair value adjustment of our contingent royalty obligation. We will then open up the call for questions-and-answers. Other income was $0.5 million. Herpes stays dormant within the nerve cells, evading the immune response effectively, and then activating itself at full blast during a recurrent viral shedding period.
While other companies like GlaxoSmithKline and Merck are also developing dengue vaccines, Sanofi`s candidate is the only one in Phase 3. Our QS-21 Stimulon adjuvant is a key component of numerous development programs targeting difficult diseases. Agenus was founded in 1994 to focus on harnessing the power of the body’s own immune system to treat cancer and other diseases. The newer vaccine methods are mobilizing the T-cell response to lessen the viral load. Genocea may be a few steps ahead of the race, but the triumvirate’s all in the Phase II vicinity and making positive results. This failure to hit the primary endpoint of progression free survival is a setback, but not a death knell for the MAGE A-3 cancer vaccine as I will explain shortly.