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Cantargia Publishes Year-End Report for 2023

Thursday, 22 February 2024 01:20 AM

Topic:
Earnings

LUND, SWEDEN / ACCESSWIRE / February 22, 2024 / Cantargia (STO:CANTA) Cantargia (Cantargia AB (publ); Nasdaq Stockholm: CANTA) today announced its interim report for the fourth quarter and year-end 2023.

"During 2023, Cantargia made important progress, despite the year being challenging from a global perspective. Our new results with nadunolimab have generated great interest and we expect a continued exciting news flow going forward. CAN10 also achieved significant milestones when the first individuals started treatment followed by the first clinical results", said Göran Forsberg, CEO of Cantargia.

Significant events in the fourth quarter

  • Positive signals of efficacy and favorable safety were presented for nadunolimab in combination with chemotherapy in triple-negative breast cancer (TNBC).
  • New preclinical data providing further support for Cantargia's clinical projects in both cancer and cardiovascular disease was presented.
  • The decision by the European Patent Office, EPO, that Cantargia's patent, covering IL1RAP-binding antibodies with specific functional properties, would remain in force was appealed by a third party. The appeal was subsequently withdrawn.
  • A directed share issue was completed of approximately SEK 60 M before deduction of transaction costs, implying a prolonged runway into 2025.

Significant events after the end of the period

  • The first results from the ongoing phase I clinical trial of CAN10 shows that the antibody binds to the target, IL1RAP, without any safety concerns. The study progresses according to plans.
  • New clinical and preclinical results show that nadunolimab can reduce neuropathy, a serious side effect of chemotherapy and so-called antibody drug conjugates (ADC).
  • Regulatory approval was obtained in the US to initiate the phase IIb trial of nadunolimab in pancreatic cancer.

Financial information

January - December 2023

  • Net sales: SEK 0.0 M (0.0)
  • Operating loss: SEK -290.0 M (-381.5)
  • Loss after tax: SEK -280.0 M (-371.8)
  • Loss per share: before and after dilution, SEK -1.65 (-2.90)
  • Equity/assets ratio: 75 (82) per cent
  • Total available funds: SEK 194.7 M (426.7)

Fourth quarter 2023

  • Net sales: SEK 0.0 M (0.0)
  • Operating loss: SEK -71.1 M (-89.7)
  • Loss after tax: SEK -71.3 M (-90.6)
  • Loss per share: before and after dilution, SEK -0.40 (-0.54)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on February 22, at 3:00 p.m. CET, where Cantargia's CEO, Göran Forsberg, and CFO, Patrik Renblad, will present Cantargia and comment on the year-end report, followed by a Q&A-session.

If you wish to participate via webcast, please use the link below. Via the webcast you will be able to ask written questions. Webcast: https://ir.financialhearings.com/cantargia-q4-report-2023

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference: https://conference.financialhearings.com/teleconference/?id=50047304

The webcast will also be available on demand on Cantargia's corporate website: www.cantargia.com.

For further information, please contact
Göran Forsberg, CEO
Telephone: +46 (0)46-275 62 60
E-mail: [email protected]

About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases and has established a platform based on the protein IL1RAP, involved in a number of cancer forms and inflammatory diseases. The main program, the antibody nadunolimab (CAN04), is being studied clinically primarily in combination with chemotherapy with a focus on pancreatic cancer, non-small cell lung cancer and triple-negative breast cancer. Positive interim data for the combinations indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia's second development program, the antibody CAN10, blocks signaling via IL1RAP in a different manner than nadunolimab and addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on systemic sclerosis and myocarditis.

Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). More information about Cantargia is available at www.cantargia.com.

Attachments
Cantargia Year End Report 2023

SOURCE: Cantargia

Topic:
Earnings
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