LUND, SE / ACCESSWIRE / August 28, 2024 / Cantargia (STO:CANTA) Cantargia (Cantargia AB (publ); Nasdaq Stockholm:CANTA) today announced its interim report for January to June 2024.

“It has been an exciting and eventful time for Cantargia. With two clinical-stage projects where we are achieving significant results, we have several important milestones ahead of us that will strongly influence the direction of our next steps. During this time, we have also had several productive discussions with external partners who have provided us with valuable feedback. The conclusion is that we have results that generate interest and it is important that we continue to invest our resources in cost-efficient and value-added activities.” said Göran Forsberg, CEO of Cantargia.

News overview – Second quarter

• The CAN10 project continued to achieve important milestones and in June progress in the Phase 1 clinical trial was reported as seven dose groups had been treated without safety issues. In addition, analyses confirmed full receptor binding of CAN10 to the target IL1RAP on subjects’ immune cells. In addition to the clinical progress, three scientific publications were announced as part of the project.

• In the Nadunolimab oncology project, promising preclinical results on the antibody’s unique antifibrotic effects on pancreatic cancer (PDAC) were presented. In addition, positive clinical results on the role of nadunolimab in the prevention of neuropathy were communicated. A third presentation highlighted the importance of tumor-driving KRAS mutations and their correlation with the mechanism of action of nadunolimab.

• The appeal against one of Cantargia’s granted European patents has been withdrawn. However, the patent remains valid.

• The organization was strengthened by the hiring of Ton Berkien as Chief Business Officer.

News – After the second quarter

• COO Liselotte Larsson will leave her position in mid-October 2024.

• Cantargia reports further progress in the Phase 1 CAN10 study with eight completed dosing groups and promising biomarker data.

• MD Anderson Cancer Center has received approval to begin a new leukemia trial of nadunolimab, funded by a grant from the U.S. Department of Defense. The trial is scheduled to begin in the last quarter of the year.

• The first safety and efficacy results from the randomized Phase 2 study in TNBC, TRIFOUR, are expected in the first half of 2025.

The story continues

Financial information

First half of 2024 (1 January 2024 – 30 June 2024)

• Net sales: SEK 0.0 million (0.0)

• Operating loss: -85.5 million SEK (-140.2)

• Loss after tax: -80.2 million SEK (-132.3)

• Loss per share: before and after dilution, -0.44 SEK (-0.79)

• Equity ratio: 74 (76) percent

• Cash and cash equivalents: SEK 84.7 million (158.9)

• Short-term investments: SEK 20.0 million (128.3)

Second quarter 2024 (April 1, 2024 – June 30, 2024)

• Net sales: SEK 0.0 million (0.0)

• Operating loss: -43.8 million SEK (-62.6)

• Loss after tax: -43.3 million SEK (-56.4)

• Loss per share before and after dilution: -0.24 (-0.34) SEK

In conjunction with the report, Cantargia invites investors, analysts and media to an audiocast and conference call (in English) on August 28 at 15:00 CEST, where Cantargia’s CEO Göran Forsberg and CFO Patrik Renblad will introduce Cantargia and comment on the report, followed by a question-and-answer session.

If you would like to participate via webcast, please use the link below. You can submit written questions via the webcast. Webcast: https://ir.financialhearings.com/cantargia-q2-report-2024 .

If you would like to participate via conference call, please register using the link below. After registration, you will receive telephone numbers and a conference ID to access the conference. You may ask questions verbally via the conference call: https://conference.financialhearings.com/teleconference/?id=50048869 .

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

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

This information is information that Cantargia is required to publish under the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication via the contact persons mentioned above on 28.08.2024 at 07:00 CEST.

About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company developing antibody-based treatments for life-threatening diseases and has developed a platform based on the protein IL1RAP, which is involved in a number of cancers and inflammatory diseases. Cantargia’s oncology program, the antibody nadunolimab (CAN04), is being clinically investigated 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 greater efficacy than would be expected from chemotherapy alone. Cantargia’s second development program, the antibody CAN10, blocks signaling via IL1RAP in a different way than nadunolimab and addresses the treatment of severe autoimmune/inflammatory diseases, with an initial focus on systemic sclerosis and myocarditis.

Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). For more information about Cantargia, visit www.cantargia.com.

Facilities
Interim Report Q2 2024 28.08.2024

SOURCE: Cantargia

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