Cantargia publishes half year report

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Cantargia AB

30 Aug, 2022, 06:56 GMT

LUND, Sweden, Aug. 30, 2022 /PRNewswire/ -- Cantargia AB's ("Cantargia") half year report for the period January until June 2022 is now available on the company's web page www.cantargia.com/en/investors/financial-reports.

Significant events in the second quarter

  • At ASCO 2022, one of the world's largest cancer congresses, Cantargia presented interim clinical data for nadunolimab for the more than 100 patients with pancreatic cancer (PDAC) or non-small cell lung cancer (NSCLC) included in the phase IIa part of the CANFOUR study, and for the first patients in the CIRIFOUR study.     
  • Positive preclinical efficacy data were presented for CAN10 in a model of atherosclerosis at the European Atherosclerosis Society Congress.    
  • Cantargia's Board of Directors resolved to carry out a rights issue and invited to an Extraordinary General Meeting.

Significant events after the end of the period

  • At the Extraordinary General Meeting in July, the resolution of the Board of Directors to carry out a rights issue was approved, and in August, a significantly oversubscribed rights issue was completed, raising SEK 250 million before deduction of transaction costs.
  • New preclinical efficacy data were presented for CAN10 in a further model of myocarditis at the Basic Cardiovascular Sciences Scientific Sessions 2022 conference.
  • Cantargia obtained a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its product patent for the CAN10 antibody and the patent is expected to issue within 1-2 months.
  • Dr. Dominique Tersago was appointed as new Chief Medical Officer. 

Financial information

                                   

                                   

First half 2022 (1 Jan 2022 – 30 Jun 2022)

                                               

                                   

                                   

                                               

  • Net sales: SEK 0 M (0)

                                               

  • Operating loss: SEK -217.6 M (-159.8)

                                               

  • Loss after tax: SEK -210.7 M (-158.5)

                                               

  • Loss per share: before and after dilution, SEK -2.10 (-1.58)

                                               

  • Equity/assets ratio: 83 (91) per cent

                                               

  • Cash and cash equivalents: SEK 114.1 M (94.7)

                                               

  • Short-term investments: SEK 236.1 M (666.0)

                                   

                                    Second quarter 2022 (1 Apr 2022 – 30 Jun 2022)                           

                                               

  • Net sales: SEK 0 M (0)

                                               

  • Operating loss: SEK -96.0 M (-86.6)

                                               

  • Loss after tax: SEK -93.3 M (-85.9)

                                               

  • Loss per share, before and after dilution: SEK -0.93 (-0.86)

                                   

                                   

                                   

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on August 30, at 3:00 p.m. CET, where Göran Forsberg, CEO, and Bengt Jöndell, CFO, will present Cantargia and comment on the quarterly report for the second quarter 2022, followed by a Q&A-session.

The conference call can be followed at: https://tv.streamfabriken.com/cantargia-q2-2022

To attend through telephone, please dial-in at one of the numbers below:

SE: +46850558354
UK: +443333009034
US: +16467224902

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: goran.forsberg@cantargia.com

This is information that Cantargia AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on August 30, 2022.

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 lead project, the antibody nadunolimab (CAN04), is being studied clinically in combination with chemotherapy or immune therapy in a series of clinical studies – CANFOUR, CIRIFOUR, CAPAFOUR, CESTAFOUR and TRIFOUR – with a primary focus on non-small cell lung cancer and pancreatic cancer. Positive interim data from the combination with chemotherapy indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia's second project, 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.

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