Cantargia publishes full year report for 2022

News provided by

Cantargia AB

Feb 23, 2023, 03:05 ET

LUND, Sweden, Feb. 23, 2023 /PRNewswire/ -- Cantargia AB's ("Cantargia") full year report for 2022 is now available on the company's web page www.cantargia.com/en/investors/financial-reports. 

Significant events in the fourth quarter

  • A milestone was reached in the CAPAFOUR and CESTAFOUR trials when enough patients had been enrolled to end recruitment. Cantargia announced that clinical development of nadunolimab will focus on randomized studies. The CIRIFOUR trial was also stopped.
  • New results showing the effect of nadunolimab on various tumor-promoting molecules were presented at the SITC conference.
  • New positive efficacy data for CAN10 in several models of systemic sclerosis were reported at an oral presentation at the ACR Convergence conference.

Significant events after the end of the period

  • The TRIFOUR trial advanced to the randomized stage following promising early safety and efficacy of nadunolimab in triple-negative breast cancer (TNBC).
  • The GLP toxicity study for CAN10 was successfully completed and an application to start a clinical trial is planned to be submitted.
  • Patrik Renblad was recruited as new Chief Financial Officer (CFO).

Financial information

January - December 2022

  • Net sales: SEK 0 M (0)
  • Operating loss: SEK -381.5 M (-370.3)
  • Loss after tax: SEK -371.8 M (-366.5)
  • Loss per share: before and after dilution, SEK -2.90 (-3.66)
  • Equity/assets ratio: 82 (89) per cent
  • Cash and cash equivalents: SEK 189.6 M (247.3)
  • Short-term investments: SEK 237.1 M (312.1)

Fourth quarter 2022

  • Net sales: SEK 0 M (0)
  • Operating loss: SEK -89.7 M (-105.8)
  • Loss after tax: SEK -90.6 M (-104.2)
  • Loss per share: before and after dilution, SEK -0.54 (-1.04)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on February 23, at 3:00 p.m. CET, where Göran Forsberg, CEO, and Bengt Jöndell, CFO, will present Cantargia and comment on the Year-end report for January-December 2022, followed by a Q&A-session.

If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions. Webcast: https://ir.financialhearings.com/cantargia-q4-2022

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=5009862

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

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

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 February 23, 2023.

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 project, the antibody nadunolimab (CAN04), is being studied clinically in combination with chemotherapy or immune therapy 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 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 (NASDAQ Stockholm: CANTA). More information about Cantargia is available at www.cantargia.com

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