Cantargia Publishes Interim Report for First Quarter 2020

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Cantargia AB

27 May, 2020, 06:44 GMT

STOCKHOLM, May 27, 2020 /PRNewswire/ --  Cantargia AB's ("Cantargia") interim report for first quarter 2020 is now available on the company's web page www.cantargia.com/en/investors/financial-reports.

Significant events in the first quarter

  • Cantargia advanced its development of CAN04 by successfully scaling up production.
  • Cantargia completed a directed share issue which raised SEK 410 million before transaction costs.
  • Cantargia acquired a patent portfolio from Cellerant Therapeutics Inc. that includes a US patent on IL1RAP as target for antibody therapy in leukemia.

Significant events after the end of the period

  • In May, the FDA approved the IND application from Cantargia in April regarding the start of a clinical trial with CAN04 and immunotherapy in the US.
  • Cantargia announced that the COVID-19 pandemic will affect patient recruitment for the CANFOUR study, which will thus last about a quarter longer than previously announced.
  • In May, Cantargia announced that new preclinical data supporting the combination of the clinical stage antibody CAN04 with platinum-based chemotherapy will be presented at the 2020 Annual Meeting of the American Association of Cancer Research (AACR).

Financial information

First Quarter 2020

  • Net sales, SEK 0 (0) million
  • Operating loss, SEK -39.9 (-23.7) million
  • Loss after tax, SEK -40.0 (-23.5) million
  • Loss per share, before and after dilution, SEK -0.49 (-0.36) 
  • Equity/assets ratio, 95 (90) per cent
  • Cash and cash equivalents, SEK 237.2 (160.9) million
  • Short-term investments, SEK 259.6 (90.3) million

This is information that Cantargia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on May 27, 2020.

About Cantargia

Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases. The basis for this is the protein IL1RAP that is involved in a number of diseases and where Cantargia has established a platform. The main project, the antibody CAN04, is being studied in the clinical phase I/IIa CANFOUR study with a primary focus on non-small cell lung cancer and pancreatic cancer. The study is focused on combination therapies, but also includes a monotherapy arm. Positive interim data from the combination therapies were presented in December 2019. Cantargia's second project, the antibody CAN10, addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on systemic sclerosis and myocarditis.

For further information, please contact:
Göran Forsberg, CEO
Telephone: +46 (0)46-275-62-60
E-mail: goran.forsberg@cantargia.com

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

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