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LEAWOOD, Kan., Aug. 3, 2017 /PRNewswire/ -- Aratana Therapeutics, Inc. (NASDAQ: PETX), a pet therapeutics company focused on the licensing, development and commercialization of innovative therapeutics for dogs and cats, announced its second quarter 2017 financial results. For the quarter ended June 30, 2017, Aratana reported total net revenues of $5.2 million and a net loss of $10.4 million or $0.26 diluted loss per share.
"We are pleased with the continued customer adoption of Galliprant and Nocita," stated Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. "In addition, we continue to advance our next wave of therapeutic candidates as evidenced by several recent regulatory submissions and a positive pivotal efficacy study in cats."
Recent Updates
Financial Results
The second quarter net loss was $10.4 million or $0.26 diluted loss per share compared to net income of $21.2 million or $0.61 diluted net income per share for the corresponding quarter ended June 30, 2016. Aratana recorded $5.2 million in net revenues for the quarter ended June 30, 2017, which primarily includes approximately $3.7 million related to GALLIPRANT product sales as finished goods under its supply arrangement with Elanco, $804 thousand in GALLIPRANT licensing and collaboration revenue, and $637 thousand in NOCITA net product sales. The second quarter of 2016 included $38.1 million in net revenues of which, $38.0 million was the result of the GALLIPRANT Collaboration Agreement.
The cost of product sales totaled $3.7 million in the second quarter of 2017 in comparison to $1.7 million for the corresponding period in 2016. The increase in the second quarter of 2017 was primarily due to GALLIPRANT supply sold to Elanco for commercial distribution, as well as cost of product sales of NOCITA. In July, pursuant to our Collaboration Agreement, Elanco provided notice of its intent to assume responsibility for manufacturing and its intent to assume the registrations of the therapeutic. Aratana believes the transfers of manufacturing and the registration in the U.S. to Elanco will be completed by December 31, 2017.
Research and development expenses totaled $3.7 million in the second quarter ended June 30, 2017 in comparison to $5.3 million for the quarter ended June 30, 2016. The decrease was primarily due to lower milestone payments as compared to 2016.
Selling, general and administrative expenses totaled $6.9 million for the second quarter ended June 30, 2017 compared to $6.1 million for the corresponding period in 2016. The increase is primarily related to the expanded commercial organization. Aratana expects selling, general and administrative expenses to remain relatively consistent through the remainder of 2017 with the corporate infrastructure substantially in place to support the commercialization of NOCITA and GALLIPRANT, as well as the anticipated commercialization of ENTYCE.
As of June 30, 2017, Aratana had approximately $80.7 million in cash, cash equivalents, restricted cash and short-term investments, which includes approximately $26.0 million in net proceeds from the sale of shares of the Company's common stock in the second quarter of 2017.
For the full year 2017, the Company continues to estimate operating expenses of approximately $45 million, resulting in a year-end cash balance of approximately $65 million.
The Company believes that its existing cash, cash equivalents, short-term investments and restricted cash of $80.7 million as of June 30, 2017 will allow Aratana to fund the current operating plan and debt obligations through at least 2018. The Company's current operating plan contemplates the launch of ENTYCE by the fall of 2017, as well as continued growth of our commercially available therapeutics.
Webcast & Conference Call Details
The Company will host a live conference call on Friday, August 4, 2017 at 8:30 a.m. ET to discuss financial results from the second quarter ended June 30, 2017.
Interested participants and investors may access the audio webcast or use the conference call dial-in:
1 (866) 364-3820 (U.S.) 1 (855) 669-9657 (Canada) 1 (412) 902-4210 (International)
A replay of the second quarter results teleconference will be available the same day of the event by approximately 11 a.m. ET and an audio webcast will be accessible for 90 days in the Aratana Investor Room. For a replay of the call, use the below dial-in and conference ID 10110825:
1 (877) 344-7529 (U.S.) 1 (855) 669-9658 (Canada) 1 (412) 317-0088 (International)
IMPORTANT SAFETY INFORMATION
GALLIPRANT (grapiprant tablets) is not for use in humans. For use in dogs only. Keep this and all medications out of reach of children and pets. Store out of reach of dogs and other pets in a secured location in order to prevent accidental ingestion or overdose. Do not use in dogs that have a hypersensitivity to grapiprant. If Galliprant is used long term, appropriate monitoring is recommended. Concomitant use of Galliprant with other anti-inflammatory drugs, such as COX-inhibiting NSAIDs or corticosteroids, should be avoided. Concurrent use with other anti-inflammatory drugs or protein-bound drugs has not been studied. The safe use of Galliprant has not been evaluated in dogs younger than 9 months of age and less than 8 lbs (3.6 kg), dogs used for breeding, pregnant or lactating dogs, or dogs with cardiac disease. The most common adverse reactions were vomiting, diarrhea, decreased appetite, and lethargy. Please see full product label for fullprescribing information.
ENTYCE (capromorelin oral solution) is for use in dogs only. Do not use in breeding, pregnant or lactating dogs. Use with caution in dogs with hepatic dysfunction or renal insufficiency. Adverse reactions in dogs may include diarrhea, vomiting, polydipsia, and hypersalivation. Should not be used in dogs that have a hypersensitivity to capromorelin. Please see the fullPrescribing Informationfor more detail.
NOCITA (bupivacaine liposome injectable suspension) is for use in dogs only. Do not use in dogs younger than 5 months of age, dogs used for breeding, or in pregnant or lactating dogs. Do not administer by intravenous or intra-arterial injection. Adverse reactions in dogs may include discharge from incision, incisional inflammation and vomiting. Avoid concurrent use with bupivacaine HCI, lidocaine or other amide local anesthetics. Please see the fullPrescribing Informationfor more detail.
About Aratana Therapeutics
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative therapeutics for dogs and cats. Aratana believes that it can leverage the investment in the human biopharmaceutical industry to bring therapeutics to dogs and cats in a capital and time efficient manner. The Company's pipeline includes therapeutic candidates for the potential treatment of pain, inappetence, viral diseases, allergy, cancer and other serious medical conditions. Aratana believes the development and commercialization of these therapeutics will permit veterinarians and pet owners to manage pets' medical needs safely and effectively, resulting in longer and improved quality of life for pets. For more information, please visit http://www.aratana.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements with respect to anticipated financial performance, our ability to bring innovative therapeutics to the market; steps necessary for and timing of regulatory submissions and approvals of therapeutic candidates; study, development and commercialization of therapeutics or therapeutic candidates; timing of anticipated study results; increased market recognition of and demand for our therapeutics; Elanco's intent to assume responsibility for manufacturing and regulatory approval for GALLIPRANT under the Collaboration Agreement; our belief that if our prior approval submission is approved, the Company would be able to make ENTYCE commercially available by the fall of 2017, depending on the timing of CVM's approval, if any, of the PAS; expectations regarding trends in cost of product sales; anticipated 2017 operating expenses and year-end cash balance; and statements regarding the Company's efforts, plans and opportunities, including, without limitation, advancing our therapeutic candidates and offering innovative therapeutics that help manage pet's medical needs safely and effectively and that result in longer and improved quality of life for pets.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the risk that the securities offering will not close in the timeframe we expect, or at all; the amount of net proceeds we receive from such offering and how we use them may differ from our current expectations; our history of operating losses and our expectation that we will continue to incur losses for the foreseeable future; failure to obtain sufficient capital to fund our operations; risks relating to the impairment of intangible assets, including BLONTRESS, TACTRESS, AT-007 and AT-011; risks pertaining to stockholder class action lawsuits; unstable market and economic conditions; restrictions on our financial flexibility due to the terms of our credit facility; our substantial dependence upon the commercial success of our therapeutics; development of our biologic therapeutic candidates is dependent upon relatively novel technologies and uncertain regulatory pathways, and biologics may not be commercially viable; denial or delay of regulatory approval for our existing or future therapeutic candidates; failure of our therapeutic candidates that receive regulatory approval to achieve market acceptance or achieve commercial success; product liability lawsuits that could cause us to incur substantial liabilities and limit commercialization of current and future therapeutics; failure to realize anticipated benefits of our acquisitions and difficulties associated with integrating the acquired businesses; development of pet therapeutics is a lengthy and expensive process with an uncertain outcome; competition in the pet therapeutics market, including from generic alternatives to our therapeutic candidates, and failure to compete effectively; failure to identify, license or acquire, develop and commercialize additional therapeutic candidates; failure to attract and retain senior management and key scientific personnel; our reliance on third-party manufacturers, suppliers and partners; regulatory restrictions on the marketing of our approved therapeutics and therapeutic candidates; our small commercial sales organization, and any failure to create a sales force or collaborate with third-parties to commercialize our approved therapeutics and therapeutic candidates; difficulties in managing the growth of our company; significant costs of being a public company; risks related to the restatement of our financial statements for the year ended December 31, 2013, and the identification of a material weakness in our internal control over financial reporting; changes in distribution channels for pet therapeutics; consolidation of our veterinarian customers; limitations on our ability to use our net operating loss carryforwards; impacts of generic products; safety or efficacy concerns with respect to our therapeutic candidates; effects of system failures or security breaches; delay or termination of the development of grapiprant therapeutic candidates and commercialization of grapiprant products that may arise from termination of or failure to perform under the collaboration agreement and/or the co-promotion agreement with Elanco; failure to obtain ownership of issued patents covering our therapeutic candidates or failure to prosecute or enforce licensed patents; failure to comply with our obligations under our license agreements; effects of patent or other intellectual property lawsuits; failure to protect our intellectual property; changing patent laws and regulations; non-compliance with any legal or regulatory requirements; litigation resulting from the misuse of our confidential information; the uncertainty of the regulatory approval process and the costs associated with government regulation of our therapeutic candidates; failure to obtain regulatory approvals in foreign jurisdictions; effects of legislative or regulatory reform with respect to pet therapeutics; the volatility of the price of our common stock; our status as an emerging growth company, which could make our common stock less attractive to investors; dilution of our common stock as a result of future financings; the influence of certain significant stockholders over our business; and provisions in our charter documents and under Delaware law could delay or prevent a change in control. These and other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 14, 2017, along with our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Contacts For investor inquires: Craig Toomanrel="nofollow">ctooman@aratana.com(913) 353-1026
For media inquiries: Rachel Reiffrel="nofollow">rreiff@aratana.com(913) 353-1050
ARATANA THERAPEUTICS, INC.
Consolidated Statements of Operations (Unaudited)
(Amounts in thousands, except share and per share data)
Three Months Ended
Six Months Ended
June 30,
June 30,
2017
2016
2017
2016
Revenues
Licensing and collaboration revenue
$
804
$
38,000
$
1,707
$
38,151
Product sales
4,354
47
7,246
68
Total revenues
5,158
38,047
8,953
38,219
Costs and expenses
Cost of product sales
3,691
1,741
6,785
1,760
Royalty expense
353
20
676
38
Research and development
3,700
5,303
8,354
16,052
Selling, general and administrative
6,918
6,148
14,413
12,699
Amortization of intangible assets
86
95
150
190
Impairment of intangible assets
2,780
2,780
Total costs and expenses
14,748
16,087
30,378
33,519
Originally posted here:
Aratana Therapeutics Reports Second Quarter 2017 Financial Results - Markets Insider
"We are pleased with the continued customer adoption of Galliprant and Nocita," stated Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. "In addition, we continue to advance our next wave of therapeutic candidates as evidenced by several recent regulatory submissions and a positive pivotal efficacy study in cats."
Recent Updates
Financial Results
The second quarter net loss was $10.4 million or $0.26 diluted loss per share compared to net income of $21.2 million or $0.61 diluted net income per share for the corresponding quarter ended June 30, 2016. Aratana recorded $5.2 million in net revenues for the quarter ended June 30, 2017, which primarily includes approximately $3.7 million related to GALLIPRANT product sales as finished goods under its supply arrangement with Elanco, $804 thousand in GALLIPRANT licensing and collaboration revenue, and $637 thousand in NOCITA net product sales. The second quarter of 2016 included $38.1 million in net revenues of which, $38.0 million was the result of the GALLIPRANT Collaboration Agreement.
The cost of product sales totaled $3.7 million in the second quarter of 2017 in comparison to $1.7 million for the corresponding period in 2016. The increase in the second quarter of 2017 was primarily due to GALLIPRANT supply sold to Elanco for commercial distribution, as well as cost of product sales of NOCITA. In July, pursuant to our Collaboration Agreement, Elanco provided notice of its intent to assume responsibility for manufacturing and its intent to assume the registrations of the therapeutic. Aratana believes the transfers of manufacturing and the registration in the U.S. to Elanco will be completed by December 31, 2017.
Research and development expenses totaled $3.7 million in the second quarter ended June 30, 2017 in comparison to $5.3 million for the quarter ended June 30, 2016. The decrease was primarily due to lower milestone payments as compared to 2016.
Selling, general and administrative expenses totaled $6.9 million for the second quarter ended June 30, 2017 compared to $6.1 million for the corresponding period in 2016. The increase is primarily related to the expanded commercial organization. Aratana expects selling, general and administrative expenses to remain relatively consistent through the remainder of 2017 with the corporate infrastructure substantially in place to support the commercialization of NOCITA and GALLIPRANT, as well as the anticipated commercialization of ENTYCE.
As of June 30, 2017, Aratana had approximately $80.7 million in cash, cash equivalents, restricted cash and short-term investments, which includes approximately $26.0 million in net proceeds from the sale of shares of the Company's common stock in the second quarter of 2017.
For the full year 2017, the Company continues to estimate operating expenses of approximately $45 million, resulting in a year-end cash balance of approximately $65 million.
The Company believes that its existing cash, cash equivalents, short-term investments and restricted cash of $80.7 million as of June 30, 2017 will allow Aratana to fund the current operating plan and debt obligations through at least 2018. The Company's current operating plan contemplates the launch of ENTYCE by the fall of 2017, as well as continued growth of our commercially available therapeutics.
Webcast & Conference Call Details
The Company will host a live conference call on Friday, August 4, 2017 at 8:30 a.m. ET to discuss financial results from the second quarter ended June 30, 2017.
Interested participants and investors may access the audio webcast or use the conference call dial-in:
1 (866) 364-3820 (U.S.) 1 (855) 669-9657 (Canada) 1 (412) 902-4210 (International)
A replay of the second quarter results teleconference will be available the same day of the event by approximately 11 a.m. ET and an audio webcast will be accessible for 90 days in the Aratana Investor Room. For a replay of the call, use the below dial-in and conference ID 10110825:
1 (877) 344-7529 (U.S.) 1 (855) 669-9658 (Canada) 1 (412) 317-0088 (International)
IMPORTANT SAFETY INFORMATION
GALLIPRANT (grapiprant tablets) is not for use in humans. For use in dogs only. Keep this and all medications out of reach of children and pets. Store out of reach of dogs and other pets in a secured location in order to prevent accidental ingestion or overdose. Do not use in dogs that have a hypersensitivity to grapiprant. If Galliprant is used long term, appropriate monitoring is recommended. Concomitant use of Galliprant with other anti-inflammatory drugs, such as COX-inhibiting NSAIDs or corticosteroids, should be avoided. Concurrent use with other anti-inflammatory drugs or protein-bound drugs has not been studied. The safe use of Galliprant has not been evaluated in dogs younger than 9 months of age and less than 8 lbs (3.6 kg), dogs used for breeding, pregnant or lactating dogs, or dogs with cardiac disease. The most common adverse reactions were vomiting, diarrhea, decreased appetite, and lethargy. Please see full product label for fullprescribing information.
ENTYCE (capromorelin oral solution) is for use in dogs only. Do not use in breeding, pregnant or lactating dogs. Use with caution in dogs with hepatic dysfunction or renal insufficiency. Adverse reactions in dogs may include diarrhea, vomiting, polydipsia, and hypersalivation. Should not be used in dogs that have a hypersensitivity to capromorelin. Please see the fullPrescribing Informationfor more detail.
NOCITA (bupivacaine liposome injectable suspension) is for use in dogs only. Do not use in dogs younger than 5 months of age, dogs used for breeding, or in pregnant or lactating dogs. Do not administer by intravenous or intra-arterial injection. Adverse reactions in dogs may include discharge from incision, incisional inflammation and vomiting. Avoid concurrent use with bupivacaine HCI, lidocaine or other amide local anesthetics. Please see the fullPrescribing Informationfor more detail.
About Aratana Therapeutics
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative therapeutics for dogs and cats. Aratana believes that it can leverage the investment in the human biopharmaceutical industry to bring therapeutics to dogs and cats in a capital and time efficient manner. The Company's pipeline includes therapeutic candidates for the potential treatment of pain, inappetence, viral diseases, allergy, cancer and other serious medical conditions. Aratana believes the development and commercialization of these therapeutics will permit veterinarians and pet owners to manage pets' medical needs safely and effectively, resulting in longer and improved quality of life for pets. For more information, please visit http://www.aratana.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements with respect to anticipated financial performance, our ability to bring innovative therapeutics to the market; steps necessary for and timing of regulatory submissions and approvals of therapeutic candidates; study, development and commercialization of therapeutics or therapeutic candidates; timing of anticipated study results; increased market recognition of and demand for our therapeutics; Elanco's intent to assume responsibility for manufacturing and regulatory approval for GALLIPRANT under the Collaboration Agreement; our belief that if our prior approval submission is approved, the Company would be able to make ENTYCE commercially available by the fall of 2017, depending on the timing of CVM's approval, if any, of the PAS; expectations regarding trends in cost of product sales; anticipated 2017 operating expenses and year-end cash balance; and statements regarding the Company's efforts, plans and opportunities, including, without limitation, advancing our therapeutic candidates and offering innovative therapeutics that help manage pet's medical needs safely and effectively and that result in longer and improved quality of life for pets.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the risk that the securities offering will not close in the timeframe we expect, or at all; the amount of net proceeds we receive from such offering and how we use them may differ from our current expectations; our history of operating losses and our expectation that we will continue to incur losses for the foreseeable future; failure to obtain sufficient capital to fund our operations; risks relating to the impairment of intangible assets, including BLONTRESS, TACTRESS, AT-007 and AT-011; risks pertaining to stockholder class action lawsuits; unstable market and economic conditions; restrictions on our financial flexibility due to the terms of our credit facility; our substantial dependence upon the commercial success of our therapeutics; development of our biologic therapeutic candidates is dependent upon relatively novel technologies and uncertain regulatory pathways, and biologics may not be commercially viable; denial or delay of regulatory approval for our existing or future therapeutic candidates; failure of our therapeutic candidates that receive regulatory approval to achieve market acceptance or achieve commercial success; product liability lawsuits that could cause us to incur substantial liabilities and limit commercialization of current and future therapeutics; failure to realize anticipated benefits of our acquisitions and difficulties associated with integrating the acquired businesses; development of pet therapeutics is a lengthy and expensive process with an uncertain outcome; competition in the pet therapeutics market, including from generic alternatives to our therapeutic candidates, and failure to compete effectively; failure to identify, license or acquire, develop and commercialize additional therapeutic candidates; failure to attract and retain senior management and key scientific personnel; our reliance on third-party manufacturers, suppliers and partners; regulatory restrictions on the marketing of our approved therapeutics and therapeutic candidates; our small commercial sales organization, and any failure to create a sales force or collaborate with third-parties to commercialize our approved therapeutics and therapeutic candidates; difficulties in managing the growth of our company; significant costs of being a public company; risks related to the restatement of our financial statements for the year ended December 31, 2013, and the identification of a material weakness in our internal control over financial reporting; changes in distribution channels for pet therapeutics; consolidation of our veterinarian customers; limitations on our ability to use our net operating loss carryforwards; impacts of generic products; safety or efficacy concerns with respect to our therapeutic candidates; effects of system failures or security breaches; delay or termination of the development of grapiprant therapeutic candidates and commercialization of grapiprant products that may arise from termination of or failure to perform under the collaboration agreement and/or the co-promotion agreement with Elanco; failure to obtain ownership of issued patents covering our therapeutic candidates or failure to prosecute or enforce licensed patents; failure to comply with our obligations under our license agreements; effects of patent or other intellectual property lawsuits; failure to protect our intellectual property; changing patent laws and regulations; non-compliance with any legal or regulatory requirements; litigation resulting from the misuse of our confidential information; the uncertainty of the regulatory approval process and the costs associated with government regulation of our therapeutic candidates; failure to obtain regulatory approvals in foreign jurisdictions; effects of legislative or regulatory reform with respect to pet therapeutics; the volatility of the price of our common stock; our status as an emerging growth company, which could make our common stock less attractive to investors; dilution of our common stock as a result of future financings; the influence of certain significant stockholders over our business; and provisions in our charter documents and under Delaware law could delay or prevent a change in control. These and other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 14, 2017, along with our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Contacts For investor inquires: Craig Toomanctooman@aratana.com (913) 353-1026
For media inquiries: Rachel Reiffrreiff@aratana.com (913) 353-1050
ARATANA THERAPEUTICS, INC.
Consolidated Statements of Operations (Unaudited)
(Amounts in thousands, except share and per share data)
Three Months Ended
Six Months Ended
June 30,
June 30,
2017
2016
2017
2016
Revenues
Licensing and collaboration revenue
$
804
$
38,000
$
1,707
$
38,151
Product sales
4,354
47
7,246
68
Total revenues
5,158
38,047
8,953
38,219
Costs and expenses
Cost of product sales
3,691
1,741
6,785
1,760
Royalty expense
353
20
676
38
Research and development
3,700
5,303
8,354
16,052
Selling, general and administrative
6,918
6,148
14,413
12,699
Amortization of intangible assets
86
95
150
190
Impairment of intangible assets
2,780
2,780
Total costs and expenses
14,748
16,087
30,378
33,519
Income (loss) from operations
(9,590)
21,960
(21,425)
Read the original post:
Aratana Therapeutics Reports Second Quarter 2017 Financial Results - PR Newswire (press release)
Aratana Therapeutics (PETX) is a $290 million market cap veterinary biotechnology company with sole focus on how to solve unmet and under-served medical needs in pets with serious diseases. The company is working to pass animal therapeutics from the bottom to the top, through stages of formulation, preclinical and clinical studies, regulatory approval, manufacturing, and commercialization. The company is regarded as a leader in developing drugs for use by pets. The company has two products approved for animal pain, with several candidates with market launch dates anticipated soon. Galliprant is approved for use in dogs for control of pain and inflammation associated with osteoarthritis. Nocita is approved for post-cranial cruciate ligament surgery pain. Two cancer drugs, tactress and blontress for use in T-cell and B-cell lymphoma are also conditionally and fully available to veterinarians via USDA agreement, respectively. The company is in the final stages of regulatory process Entyce, a drug for appetite stimulation in dogs, with potential launch in fall 2017. PETX anticipates USDA license for candidate AT-014 in canine osteosarcoma in 2H 2017. Candidate AT-016 is being developed with collaborator VetStem BioPharma for osteoarthritis pain in dogs, with results of this pivotal safety study expected in 2017. This study is particularly interesting to Strong Bio, and stands out in the veterinary market targeting companies, because AT-016 is an adipose-derived allogeneic stem cell therapeutic. The combined 2015 estimated markets for pet pharmaceuticals came in at about $7.5 billion dollars.
Galliprant (grapiprant tablets) is an orally administered first-in-class piprant (a non-COX-inhibiting prostaglandin EP4 receptor antagonist) indicated for osteoarthritis pain and inflammation in dogs. The drug is in co-promotion with Elanco Animal Health, a division of Eli Lilly (LLY). Elanco has exclusive rights to develop, manufacture and market Galliprant globally. Galliprant demonstrated statistically significant in pain measures in a four week placebo-controlled study of 285 dogs. A nine month safety study dosed animals with 15-fold increase over normal dosing regimen, and showed no clinically significant changes in liver, kidney, blood, or reaction parameters. The most common adverse reactions were vomiting, diarrhea, decreased appetite and lethargy. PETX reports that the drug can be used by puppies as young as 9 months (or weighing 8 pounds or more), with half or full tablet once-daily dosing. The drug was commercially available in January 2017, with FDA CVM approval coming in 2016. EMA submissions took place in 2016 with estimated approvals in 2017. It is estimated that one in five dogs suffers from osteoarthritis, with an increasingly competitive (PetVivo (OTCPK:PETV) and Zoetis (ZTS)) market estimated at nearly $3 billion.
Nocita (bupivacaine liposome injectable suspension, AT-002) gained FDA CVM approval for local post-operative analgesia for cranial cruciate ligament surgery in dogs in 2016. One administration has a relatively long-lasting 72 hour effective window, releasing bupivacaine over time from liposome suspension. It became commercially available in October 2016. "We believe Nocita will help transform the way veterinarians control post-operative pain for dogs undergoing cranial cruciate ligament surgery," stated Steven St. Peter M.D. in the company announcement, President and Chief Executive Officer of Aratana Therapeutics. Adverse reactions in dogs included discharge from incision, incisional inflammation, and vomiting. Logical label expansion for the drug would be other related surgeries, international expansion, and use in other animals. AT-003 is being developed by PETX for post-operative pain in cats, currently in pivotal studies.
The company has two cancer medications for animals, Tactress and Blontress. PETX was granted conditional licensure of Tactress1 (AT-005), a monoclonal antibody for use in dogs with T-cell lymphoma, by USDA Center for Veterinary Biologics in 2014. Final labeling awaits USDA approval, with the therapeutic currently available to veterinary oncologists under conditional license from USDA. Blontress (AT-004) novel B-cell lymphoma monoclonal antibody for use in dogs was given full license from USDA. Blontress is partnered with a third party for U.S. and Canada commercialization. PETX retains development and commercialization rights for other geographies. B-cell lymphoma is a common cancer in dogs, and progresses quickly if untreated. Because chemotherapy, the treatment of choice in lymphoma, has a lot of undesired treatment effects, better therapies are needed. A third anti-cancer immunotherapy, AT-014, is being developed with a product license with USDA for osteosarcoma in dogs. The company is a pioneer in the canine cancer space. It was estimated that in 2015 pet owners shelled out over $15 billion dollars for cancer treatment in animals, with $500 million being estimated for dogs alone.
ENTYCE (capromorelin oral solution; ghrelin receptor agonist) development is in final approval stages for appetite stimulation in dogs, having been approved by FDA in June 2016. PETX presented data from a study of 244 dogs at American College of Veterinary Internal Medicine in June 2016, reporting that 68.6% of pets taking Entyce had an increase in appetite (as reported by owners; 44.6% for placebo). 56.2% of the Entyce treated dogs displayed increased appetite-related behaviors compared to 26.8% of placebo. 76% of the dogs gained weight on Entyce, in contrast to 45% of placebo dogs, over the four day study period. In an April 2017 update, PETX announced it recently met with FDA Center for Veterinary Medicine (CVM) regarding manufacture of ENTYCE. The company anticipates that upon approval from FDA CVM it can begin its sole commercialization launch in the fall of 2017. Entyce label expansion study for weight management in cats with chronic kidney disease initiated in Q1 2017. Ghrelin receptor agonists have demonstrated anti-inflammation, vasodilation, increased cardiac output and vascular resistance, and increased IGF-1 levels. Thus label expansion in the future could include such indications as anorexia, negative energy balance, chronic heart failure, inflammation, chemotherapy, arthritis, inflammatory bowel disease, and gastroparesis.
PETX reported a 1Q 2017 loss of $12.6 million, compared to prior 1Q 2016 loss of $18.1 million. $3.8 million in net revenues was primarily received from Galliprant sales ($2.5 million) and $300 thousand in Nocita sales. The company reported $68 million in cash on hand at end Q1 2017, and raised an additional $24.4 million in a May 2017 equity offering of 5 million shares at $5.25 per share. Aratana expects Galliprant sales to continue to grow into one of the top pet products in the U.S., and as it reaches milestone payments from Elanco, contribute significantly to the company bottom line. PETX expects to launch Entyce during the fall of 2017, potentially helping enable the company to reach early 2019 with current cash on hand.
Because studies in animals are much less expensive to conduct than large scale international clinical trials, the company's threshold for drug approval is easier to attain in terms of financing, provided its candidates demonstrate solid efficacy. It is also less rigorous from a regulatory perspective to gain approval of animal products. Challenges for manufacturing appear to be significant, but manageable. The company has a number of candidates in development, forming a promising pipeline, and its sales are increasing, and it will be interesting to see how this sales data compares with launches for drugs to treat humans, and how label expansion efforts go from species to species. Most interesting of all are its efforts in development of allogeneic stem cell treatments for canine osteoarthritis. Perhaps stem cell advances in pet therapies will finally usher in new therapies for humans, which seems to have hit resistance for a number of social and regulatory reasons. Moreover, there is a success model for animal treatment companies like ZTS, which should provide the market a basis for PETX share ascension. Still, with a market cap of under or near $300 million, and large addressable markets, it looks like a good place for an initial position to Strong Bio anywhere around $7 per share.
Risks specific to PETX would be market uncertainty as well as competition. For instance, even though appetite stimulation in dogs has a market, cannabinoids would be regarded by Strong Bio as having shown better efficacy, and may be sold at significantly less expensive prices. Still, these mechanisms are separate, and veterinarians should appreciate having more options. Cancer treatment markets for pets are expected by several experts in the field to burgeon in the coming years. However, information on the actual study data for blontress and tactress is difficult to find, making it hard recommend PETX stock without using words like "potential" until more information on these studies is made available. If the reader knows where information can be found feel free to add it in the comments section. Stem cell therapies, although promising, are unproven as well, and will require time to elucidate functionality and efficacy.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
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Is Aratana Your Porfolio's Best Friend? - Seeking Alpha
Hormone replacement therapies, or medications containing female hormones that substitute those no longer produced by the body, often are prescribed to reduce the effects of menopausal symptoms in women. Research has indicated that women who take hormone replacement therapies have a higher incidence of breast cancer.
Hormone replacement therapies, or medications containing female hormones that substitute those no longer produced by the body, often are prescribed to reduce the effects of menopausal symptoms in women. Research has indicated that women who take hormone replacement therapies have a higher incidence of breast cancer.
Now, researchers at theUniversity of Missouri have linked natural and synthetic progestins to the bodys production of specialized cancer cells that act like stem cells in humans. Findings could help scientists target these rare cells that proliferate in breast cancers and metastasize elsewhere, and may help clinicians identify immunotherapies to combat the spread of the disease.
In previous studies, we have shown that both natural and synthetic progestins accelerate the development of breast cancer and increase their metastasis to lymph nodes, said Salman Hyder, the Zalk Endowed Professor in Tumor Angiogenesis and professor of biomedical sciences in the College of Veterinary Medicine and the Dalton Cardiovascular Research Center. Our laboratory is committed to identifying the cell mechanisms that bring about increased breast cancer risks. Recently, our research focused on special cells which are called cancer stem cell-like cells that induce aggressive tumor growth, metastasis and cancer recurrence.
In a series of tests, the team used hormone-responsive human breast cancer cells to examine the effects of progestin on the cell markers typically found in breast cancers. Both natural and synthetic progestins significantly increased protein expression of CD44, a molecule involved in cell proliferation, cell communication and migration. Additionally, the presence of progestins caused these components to behave like cancer stem cell-like cells.
These rare cells are a small population of cells that acting like normal stem cells are self-renewing, create identical copies of themselves and proliferate exponentially. Further testing showed that the rare subset of cancer cells actually was enriched by progestin.
The findings show that exposure to natural and synthetic progestins leads to the development of these cancer stem-cell like cells, Hyder said. These cells greatly increase the likelihood of resistance to therapies and the risk for metastasis. Our findings also suggest that clinicians may be able to combat the progestin-dependent tumor growth through immunotherapy.
Researchers involved with the study included Sandy Goyette, a graduate student in Hyders lab; Yayun Liang, a research associate professor of biomedical sciences in the College of Veterinary Medicine and the Dalton Cardiovascular Research Center at MU; Benford Mafuvadze, formerly a post-doctoral fellow in Hyders lab; Matthew T. Cook, a recent doctoral graduate and research scientist at Dalton Cardiovascular Research Center; and Moiz Munir, a Division of Biological Sciences and Capstone Scholar in Hyders lab.
The study, Natural and synthetic progestins enrich cancer stem cell-like cells in hormone-responsive human breast cancer cell populations in vitro, available at https://www.dovepress.com/natural-and-synthetic-progestins-enrich-cancer-stem-cell-like-cells-in-peer-reviewed-fulltext-article-BCTT , recently was published in Breast Cancer Targets and Therapy with funding provided through the College of Veterinary Medicine Committee on Research and the generosity of donors to the Ellis Fischel Cancer Center at MU. The content is solely the responsibility of the authors and does not necessarily represent the official views of the funding agencies.
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MU researchers find link between hormone-replacement therapy, breast cancer growth - Hannibal.net
Dr. John Schultz gives an injection of bone marrow derived stem cells into the knee of patient Steve Brink from Washington state at the Regenexx offices in Broomfield June 12. (Paul Aiken / Staff Photographer)
_Broomfield's Regenexx, a stem cell treatment network, has completed its merger with Des Moines, Iowa-based Harbor View Medical.
The company corporate headquarters will move to Des Moines as a result, with the company's medical headquarters remaining in Broomfield, according to spokeswoman Caroline Patterson.
Patterson there would be no layoffs in Broomfield as a result of the merger.
Regenexx co-founder, Dr. Christopher Centeno, a pioneer in using stem cells to treat orthopedic injuries, will maintain his role as chief medical officer and Jason Hellickson will become CEO.
Regenexx treatments include injection of a patient's own stem cells and platelet-rich plasma (PRP) to encourage healing of tendons, joints and muscles.
"Most of what we currently call orthopedic surgery will, in the next 10-20 years, be in the dust bin of history," Centano told the Daily Camera last month. "Thirty years from now, cutting people open and drilling holes will be considered barbaric."
Despite advances in research, critics say the safety and effectiveness of these regenerative treatments is largely unregulated and remains poorly understood.
A study by Mayo Clinic, whose results were published last year, noted that patients in a blind study, who had arthritis in both knees, saw benefits from the treatment, but that it wasn't clear why. Just one knee had actually been injected with the stem cells.
The stem cell treatments,have generated controversy among some medical professionals because they cost thousands of dollars and have not been widely studied. Last year the U.S. Food and Drug Administration (FDA) held a series of scientific meetings examining how best to regulate and ensure the safety and efficacy of this approach.
The Mayo Clinic study, overseen by the FDA, concluded that the procedure it sstudied was safe to undergo, but it was not ready to recommend it for "routine arthritis care."
Still the use of stem cell treatments in everything from veterinary clinics to dermatology orthopedic practices is growing. Founded in 2005, Regenexx lists 48 clinics worldwide, including a new facility it opened in Mumbai this month.
Jerd Smith: 303-473-1332, smithj@dailycamera.com or twitter.com/jerd_smith
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Broomfield's Regenexx in merger with Iowa company - The Daily Camera
Imunnotherapy for cancer is experiencing a resurgence and is being studied to provide an affordable option for the treatment of cancer in dogs.
Lexington, KY (PRWEB) July 11, 2017
MediVet Biologics, a global leader in veterinary biologic solutions for pets announced today in partnership with the Veterinary Cancer Group (Los Angeles, CA) a trial for dogs stricken with cancer. The trial involves a breakthrough strategy of combining a personalized immunotherapy vaccine with specialty cancer standards of care.
K9ACV is a service provided by MediVet Biologics which allows for an affordable personalized immunotherapy vaccine for canine cancer. The immunotherapy cancer vaccine was developed by MediVet Biologics in partnership with researchers from the University of Kentucky Markey Cancer Center.
Immunotherapy is a cutting-edge strategy designed to assist the patient's own immune system to work harder and more efficiently to attack cancer from within.
K9ACV is being studied by the veterinarian oncology team at Veterinary Cancer Group to be used in conjunction with current treatment strategies such as chemotherapy and radiation. The goal, is to study a multi modal approach to canine cancer to see if it can offer better outcomes when patients are in various stages of disease.
Greater than 50% of dogs over the age of ten will develop cancer and early detection is often difficult. The trial is now open and available to owners of canine patients with any form of cancer in the Orange County, San Fernando Valley & Los Angeles California areas.
In late 2016, an initial paper was published on the vaccine service and the company just finished an additional trial utilizing the vaccine for cancer patients at Kansas State University College of Veterinary Medicine.
Thomas Masterson, VP of Business Development, MediVet Biologics, "We have already had tremendous success utilizing K9ACV on patients who were not candidates for specialty cancer care. Our hope is that by combining our immunotherapy treatment with other established methodologies of canine oncology care we can make this service available to more patients in need and offer increased survival for the patient. We are fortunate to have partnered with a progressive group of oncologists such as the team at VCG."
About MediVet Biologics
MediVet Biologics is a animal health company focused on providing innovative strategies to fight diseases and redefine pet healthcare. Since 2010 the company has provided services to a network of thousands of progressive veterinarians such as Actistem Stem Cell Therapy and other biologic treatments designed to rebuild and repair processes naturally without dependency on drugs. Each product and service is designed to offer alternatives to improve the lives of pets and their owners. http://www.medivetbiologics.com
For the original version on PRWeb visit: http://www.prweb.com/releases/2017/07/prweb14494704.htm
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MediVet Biologics Launches Innovative Immunotherapy Trial for Canine Cancer - Benzinga
Source: San Diego Blood Bank
July 6, 2017 (San Diego) - The San Diego Blood Bank, primary supplier of blood to the majority of hospitals in San Diego County, and the County of San Diego are teaming up once again to present the Live Well San Diego 5K benefitting the San Diego Blood Bank on Sunday, July 30, 2017.
The event will take place at the San Diego County Administration Buildings Waterfront Park, located at 1600 Pacific Highway. Start time for the race is 7:30 a.m., followed by a post-event Expo featuring a pet zone, kids zone and interactive activities for all ages. The event will benefit the San Diego Blood Bank, which supports more than 100,000 hospital patients like La Mesa residents Cameron, Christopher and Hunter Karpow each year.
The Karpow triplets (pictured right) all needed blood transfusions when they were born prematurely. Complete information on the Live Well San Diego 5K is available at http://www.LiveWellSD5K.com.
To be eligible to donate blood you must be at least 17 years old (16 year olds may donate with parental consent), weigh at least 114 pounds and be in general good health. SDBB is dedicated to community health by providing a reliable supply of blood to patients in need. Our vision is to further ensure the health of our community by simultaneously delivering related health and wellness education and services and extending into research. SDBB is an independent, 501(c)(3) non-profit that serves hospitals in San Diego, Orange, Imperial and Los Angeles counties with blood transfusion products and reference laboratory services.
SDBB currently operates six local donor centers and 10 bloodmobiles. SDBBs Cell Therapy Program provides lifesaving stem cell transplants to patients worldwide. For more information about SDBB, visit http://www.sandiegobloodbank.org or connect with us on Facebook and Twitter.
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LIVE WELL SAN DIEGO 5K SET FOR JULY 30 - East County Magazine
Our current dog "fell" off a 30-foot deck and severely injured his spine. We are grateful to his former family who got him the neurosurgery and then gave him up six months later. We were his fourth home in three years, and we are so blessed to have him as part of our family.
Chuckie arrived in a drag bag, secured in a weenie wrap because he had no bowel control. Although our vet was negative at our first appointment, he referred us to a canine rehabilitation center. At the initial evaluation, Chuckie demonstrated no movement from his withers to the tip of his tail, although he could drag himself quickly across the floor to a carpet and flip up onto his front legs and stand for about a minute in full, back-leg spastic extension. The center drew up a therapeutic plan, and we supplemented his diet with vitamin B-complex, a multivitamin, ArthAway and dimethylglycine.
Chuckie has made remarkable progress in spite of suffering a slipped cervical disc, which, during four weeks of screaming in pain, not one specialist could diagnose with repeated exams, X-rays and two MRIs. We found a canine chiropractor who knew immediately (based on the X-rays) and began treatment. Chuckie now receives a chiropractic adjustment once a month, and has swim, boogie board and treadmill therapy two to three times a week.
Every time we think our dog has reached his maximum potential, he surprises us. Currently, Chuckie is walking in his wheelie in the pool in a back brace, and he is moving his back legs.
In his back brace without the wheelie support, he has taken up to 13 ataxic independent steps.
Recently, we started him on a homemade high-protein diet in an effort to help build up muscle, especially in his weaker right thigh. Dr. Fox, I know this little boy can walk! We have tried spandex shorts, bodysuits, toe lifts, back braces and considered custom bracing. Most of the brace experts do not think bracing will help. With all the expenses, I am not sure I want to sink $600 to $1,200 in custom braces that won't help. Do you have any ideas or suggestions? This little guy is happy, funny, plays with our ever-patient cat and makes us laugh every day. Currently, he takes gabapentin, a muscle relaxer and a muscle builder at night. Any and all ideas you have to offer will be explored, and we will keep you posted. P.H.P., Arlington, Va.
Dear P.H.P.: I commend you on your compassionate efforts to improve the quality of life for this injured dog.
Until stem-cell therapy is sufficiently advanced to enable possible repair of injured spinal cords, I do not have much more to offer to facilitate your dog's recovery potential beyond what you have already utilized. Regular swimming therapy is excellent, coupled with daily total body massage, as per my book, "The Healing Touch for Dogs."
I would give your dog daily supplements of L-carnitine, chelated magnesium and CoQ10, and continue with the other supplements and treatments. You may wish to consider my home-prepared diet posted on my website, http://www.DrFoxVet.net. Feed Chuckie two meals a day after exercising and add turmeric and ginger and a few drops of fish oil to each meal, plus a teaspoon of unsweetened canned pineapple to facilitate digestion. I always add a little plain organic yogurt or kefir to my dog's food as a source of beneficial probiotics.
Some people may question your dedication, spending so much effort and money on "just a dog," but as I see it, to care is to be human regardless of species and our humanity is as endangered today as the many species that are harmed and threatened with extinction by our singular and collective inhumanity.
Send all mail to animaldocfox@gmail.com or to Dr. Michael Fox in care of Universal Uclick, 1130 Walnut St., Kansas City, MO 64106. The volume of mail received prohibits personal replies, but questions and comments of general interest will be discussed in future columns. Visit Dr. Fox's website at http://www.drfoxvet.net.
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Helping paraplegic dog heal - INFORUM
Fresh from a teaching stint at Cornell Universitys veterinary school, moving to Southern Pines in 1971 made Fred McCashin feel a bit like a pioneer on the frontier of equine medicine.
Considering the manicured pastures of todays Southern Pines horse country and the miles of weathered post-and-rail fence lines in Moore Countys equestrian enclaves, that feeling is difficult to imagine.
But back then, much of the equestrian community here was seasonal fox hunters and harness racers and N.C. States College of Veterinary Medicine wouldnt be up and running for more than a decade.
McCashin, 76, recently attended the 50th reunion of his vet school class at the University of Pennsylvania. His Youngs Road practice, Carolina Equine Clinic, is celebrating its 40th year in business this month.
He came to North Carolina not to be a solo practitioner, but to direct the N.C. Veterinary Research Foundation. Established as a nonprofit by a group of veterinarians hoping to lay the foundation for a veterinary school, the facility is now the N.C. State Equine Research center on U.S. 1 north of Southern Pines.
Dr. Fred B. McCashin, shown here with Attaboy Roy, establshed the Carolina Equine Clinic in 1977. (Photo by Ted Fitzgerald/The Pilot)
Other opportunities were available: continuing to teach at Michigan State, or working as the staff veterinarian for the racing stable of a prominent French art dealer. At that point, though, hed had enough of difficult characters and the politics embroiled in academia. And the chance to fill a void for the states thriving horse business by performing surgery on a referral basis held its own fascination.
That was really sorely needed because there were very few veterinarians that would even attempt to do surgery in the state of North Carolina, said McCashin, who recalled his six years at the research foundation as nonstop work.
I could stay up all night operating on a case and you didnt have any time off the next day. It was like working on the prairies. It was a nice building and all, we had the facilities, but I was trying to get veterinarians in the field to come in with their cases and give me a hand, because sometimes you just cant do it all by yourself.
He opened Carolina Equine Clinic in 1977, working out of the barn on the property, then adding a clinic and lab building.
This is just a little modest thing, and I never made it any bigger, he said. I thought about having branches in Wilmington and other places where no one was doing surgeries, but I was busy enough here that I couldnt get away.
The clinic is strewn with relics from McCashins career in the form of calcified masses extracted from patients. One, the size of two fists, he found in 1982 while performing emergency colic surgery on a Morgan horse from a Raleigh farm before N.C. State started surgery.
In that particular case, McCashin rushed to the clinic on Halloween his children missed trick-or-treating that year not a moment too soon as he opened the patients abdomen to find it full of manure. Though that could have been a death sentence, the horse made a full recovery.
The owner was here and I said this is bad but I just took it and heaved it over the side and everything else looked reasonably clean, he recalled. The stone was there and it had ruptured his small colon. So we cleaned it up, took out the busted section and stuck it back together again and I said well just see how its going to go.
I dont ask the kids if they remember that, he said ruefully.
Its that kind of episode that remains so vivid to the longtime veterinarian that it might as well have happened yesterday. So too with the tough cases, solved through months of rehabilitation and sheer force of will like Jet Murmur, a Thoroughbred colt who broke his leg at around six months of age.
(Photo by Ted Fitzgerald/The Pilot)
In six months I think I had him on the table maybe seven times because the plates kept getting a little bit loose and Id go back in and tighten up the screws and put new screws in and kept altering the thing, McCashin said.
I remember taking him on a longe THIS IS CQ line up there on the hill and taking him through the woods and trotting him over logs and stuff. He was a long yearling by the time I sent him home and he ended up being a productive stallion.
McCashin developed a specific interest in orthopedic surgery as a student protg of Jacques Jenny, who invented the technique of bone plating inspired by Swiss compression equipment used to treat skiing-related fractures in humans. He remembers plating the first broken leg at Ohio State University while studying as a postdoctoral student there.
It was a fancy Quarter Horse filly by a stallion called Gunsmoke, he recalled. Its always fun if you happen to save the life of a horse thats in a line of really well-bred animals.
Appreciation of a good horse was in McCashins blood long before he became a veterinarian. His father, Arthur, was captain of the U.S. national show jumping team that won bronze at the 1952 Helsinki Olympics.
Growing up on a derelict polo field in New Jersey, McCashin and his older brother jockeyed their fathers steeplechase horses and jumpers. But it was on his fathers advice that he decided to forego a chance to ride in the Olympics himself.
Dad told me, If you had a horse and went to the Tokyo games in 64 and you win a gold medal, you put the gold medal and a dime on the counter and youll get a cup of coffee, McCashin said.
I did ride with the team for quite a while, just never competed, but I exercised some fancy, fancy jumpers. I was lucky to be on Ksar dEsprit and Fire One and San Lucas and horses that are in the history books.
Though he never got to ride in the Olympics, McCashin had a backstage pass to the 1976 games in Montreal as the official vet for the United States Equestrian Team and to the 1996 Atlanta Olympics as an officiating vet for the international governing body for equestrian sports known as the FEI matching the competition horses to their international passports and drug testing a random sample.
While he stepped back from work as a competition vet last year, retiring completely isnt in McCashins plans. Not that he hasnt considered it. But after 50 years, he isnt sure he knows how not to be a horse doctor.
For the last few years, the clinic has hired younger veterinarians to do the bulk of the everyday work driving around Moore and nearby counties vaccinating horses, performing dental work, and other preventive maintenance. McCashins current associate, Beth Susen, has a knack for tricky reproductive cases.
Several of the areas equine veterinarians initially built their reputations in Southern Pines while working as McCashins associate vets. Perhaps as notably, Dean Richardson at UPenns New Bolton Center, who rose to stardom in the horse world when he operated on 2006 Kentucky Derby winner Barbaro after he broke several bones in his right hind leg at the start of the Preakness Stakes, worked at Carolina Equine Clinic before he was even admitted to vet school.
I saw him when I went up for the 50th reunion and reminded him he used to plant trees for us down here, McCashin joked.
McCashin still performs some surgeries in the clinics padded operating room, but like most vets refers severe colic cases and broken limbs to N.C. State. In 40 years of veterinary practice, there has been plenty of development to keep abreast of things that dont involve picking up a scalpel.
IRAP, stem cell therapy and other regenerative therapies have replaced counter-irritating methods in treating common tendon and soft tissue injuries in horses. The telltale scars of pinfiring applying extreme heat or cold to a horses leg were once frequent markings in horses retiring from the racetrack but are now out of vogue among most trainers.
(Photo by Ted Fitzgerald/The Pilot)
You would do counterirritation just to give the horse time off, McCashin recalled.
The advent of digital imaging has made diagnosing lameness easier than ever but McCashin failed to join N.C. States faculty in their enthusiasm when the school first acquired an equine MRI system.
Its a great research tool and you can definitely learn a whole lot more by getting that kind of detail, but they get really reliant on some of that technology when they get out of school, so theyre stuck, he said. I always tell them you can use your ears and your eyes and your fingers, if you learn to use them, to discover a lot on a horse.
McCashins patients range from carbon copies of the horses he rode in his showjumping heyday to horses of a different color entirely: Standardbreds training in Pinehurst, barrel racing Quarter Horses in Carthage, and mammoth jack donkeys in Wagram.
Riding a Paso Fino in the Andes on a recent vacation to Peru, it was all he could do not to conduct an impromptu study of the hardy horses respiration rates at varying elevation levels.
When you really love doing the kind of work you do, its hard to retire, he said. Its hard to give that up. You like to be selective in what you do and what you dont do. Ive had surgeries to repair this and repair that, my back, and then I had my heart ablated for a-fib, so I just try not to get sedentary.
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After 50 Years, Equine Vet Not Ready for the Pasture - Southern Pines Pilot