Cantargia publishes half-year report 2024

“It has been an exciting and eventful period for Cantargia. With two projects in clinical phase where we are generating significant results, we have several important milestones ahead that will greatly influence the direction of our next steps. During this period, we have also had several productive discussions with external partners, which have provided valuable feedback. The conclusions are that we have results that generate interest, and it is important that we continue to invest our resources in cost-effective and value-enhancing activities” said Göran Forsberg, CEO of Cantargia.

News summary - Second quarter

• The CAN10 project continued to pass important milestones and in June progress was reported in the Phase 1 clinical study, as seven dose groups had been treated without any safety issues. Moreover, analyses confirmed full receptor binding of CAN10 to the target IL1RAP on immune cells from the subjects. In addition to the clinical advances, the project announced three scientific publications.
• In the oncology project, nadunolimab, promising preclinical results on the antibody’s unique anti-fibrotic effects on pancreatic cancer (PDAC) were presented. Furthermore, positive clinical results around nadunolimab’s role in prevention of neuropathy were communicated. A third presentation highlighted the importance of tumor-driving KRAS mutations and its correlation with nadunolimab’s mechanism of action.
• The appeal brought against one of Cantargia’s granted European patents was withdrawn. Thereby, the patent remains in force.
• The organization was strengthened through the recruitment of Ton Berkien as Chief Business Officer.

News - After the second quarter

• COO Liselotte Larsson will depart her role by mid-October 2024.
• Cantargia reports further progress in the CAN10 Phase 1 trial with eight dose groups completed and strong promising biomarker data.
• MD Anderson Cancer Center has received clearance on the IND to start the new leukemia study with nadunolimab, which is funded by a grant from the US Department of Defense. The study is planned to start in the last quarter of the year.
• The first results regarding safety and efficacy in the randomized phase 2 trial in TNBC, TRIFOUR, are expected in the first half of 2025.

Financial information

First half 2024 (1 Jan 2024 – 30 Jun 2024)

• Net sales: SEK 0.0 M (0.0)
• Operating loss: SEK -85.5 M (-140.2)
• Loss after tax: SEK -80.2 M (-132.3)
• Loss per share: before and after dilution, SEK -0.44 (-0.79)
• Equity/assets ratio: 74 (76) per cent
• Cash and cash equivalents: SEK 84.7 M (158.9)
• Short-term investments: SEK 20.0 M (128.3)

Second quarter 2024 (1 Apr 2024 – 30 Jun 2024)

• Net sales: SEK 0.0 M (0.0)
• Operating loss: SEK -43.8 M (-62.6)
• Loss after tax: SEK -43.3 M (-56.4)
• Loss per share, before and after dilution: SEK -0.24 (-0.34)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on August 28, at 3:00 p.m. CEST, where Cantargia’s CEO, Göran Forsberg, and CFO, Patrik Renblad, will present Cantargia and comment on the report, followed by a Q&A-session.

If you wish to participate via webcast, please use the link below. Via the webcast you will be able to ask written questions. Webcast: https://ir.financialhearings.com/cantargia-q2-report-2024.

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=50048869.

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