Cantargia publishes interim report for third quarter 2022

LUND, Sweden, Nov. 10, 2022 /PRNewswire/ -- Cantargia AB's ("Cantargia") interim report for the period January until September 2022 is now available on the company's web page www.cantargia.com/en/investors/financial-reports.

Significant events in the third quarter

• A significantly oversubscribed rights issue was completed, raising approximately SEK 250 million before deduction of transaction costs.
• New preclinical data were presented for both nadunolimab and CAN10. For nadunolimab, results were reported showing anti-tumor efficacy in combination with chemotherapy, as well as effects on stromal cells in pancreatic cancer (PDAC). For CAN10, efficacy data were reported in an additional disease model for myocarditis.
• A Notice of Allowance was received from the US Patent and Trademark Office (USPTO) for the product patent for the CAN10 antibody and the patent was issued at the end of October.
• Dr. Dominique Tersago was appointed as new Chief Medical Officer.

Significant events after the end of the period

• A milestone was reached in the CAPAFOUR and CESTAFOUR studies when enough patients had been enrolled to halt recruitment. Cantargia announced that clinical development of nadunolimab will focus on randomized studies, including a trial in PDAC. The CIRIFOUR study was also stopped.
• New data demonstrating effect of nadunolimab on various tumor-promoting molecules were presented, as well as additional efficacy data for CAN10 in models of systemic sclerosis.

Financial information

January - September 2022

• Net sales: SEK 0 M (0)
• Operating loss: SEK -291.8 M (-264.5)
• Loss after tax: SEK -281.2 M (-262.3)
• Loss per share, before and after dilution: SEK -2.44 (-2.62)
• Equity/assets ratio: 88 (91) per cent
• Cash and cash equivalents: SEK 259.7 M (335.9)
• Short-term investments: SEK 236.8 M (312.0)

Third quarter 2022

• Net sales: SEK 0 M (0)
• Operating loss: SEK -74.2 M (-104.7)
• Loss after tax: SEK -70.5 M (-103.8)
• Loss per share, before and after dilution: SEK -0.49 (-1.04)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on November 10, 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 third quarter 2022, followed by a Q&A-session.

The conference call can be followed at: https://tv.streamfabriken.com/cantargia-q3-2022

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

SE: +46850516386
UK: +442031984884
US: +14123176300, Pin code: 4211938#

The webcast will also be available on demand on Cantargia's corporate website: https://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 November 10, 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 main project, the antibody nadunolimab, 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 project, the antibody CAN10, 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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