Cantargia publishes interim report for third quarter 2024
Cantargia AB’s (”Cantargia”) interim report for the period January until September 2024 is now available on the company’s web page www.cantargia.com/en/investors/financial-reports.
“The third quarter saw important progress in both of Cantargia’s clinical projects. These two pillars provide stability and strength as we continue to build the company. Our new results, scientific presentations and publications generate continued interest, and we are optimistic about the way forward.”, said Göran Forsberg, CEO of Cantargia.
Significant events in the third quarter
- The company announced that its Chief Operating Officer, Liselotte Larsson, is leaving her position by mid-October 2024.
- Cantargia announced that an independent committee had analyzed unblinded data and recommended continuation to the second part of the clinical phase 1 study with multiple dosing of CAN10 in subjects with psoriasis.
- The MD Anderson Cancer Center received clearance from the FDA to start the leukemia study with nadunolimab, which is funded by a grant from the US Ministry of Defence.
- Cantargia announced that the first results regarding safety and efficacy in the randomized phase 2 trial in TNBC, TRIFOUR, is expected in the first half of 2025.
- Cantargia presented new results at the ESMO Congress regarding the benefits with nadunolimab combination therapy after relapse on PD1 inhibitor therapy.
- New results showing the potential of CAN10 in skin diseases were presented at EADV 2024.
- The first subject in the repeat-dose portion of the CAN10 project’s phase 1 study was dosed.
Significant events after the end of the period
- New positive results regarding biomarkers and safety from the phase 1 clinical trial with CAN10 were reported.
- Cantargia reported new results from clinical trials with nadunolimab in several cancers, which support the current strategy.
- The Board of Directors of Cantargia proposed a rights issue, which, if fully subscribed, will bring in approximately SEK 170 million in gross proceeds. The rights issue is conditional upon the approval by an extraordinary general meeting convened for December 2, 2024.
Financial information
January - September 2024
- Net sales: SEK 0.0 M (0.0)
- Operating loss: SEK -127.9 M (-218.9)
- Loss after tax: SEK -122.3 M (-208.8)
- Loss per share, before and after dilution: SEK -0.67 (-1.25)
- Equity/assets ratio: 62 (77) per cent
- Cash and cash equivalents: SEK 59.8 M (120.0)
- Short-term investments: SEK 0.0 M (80.2)
Third quarter 2024
- Net sales: SEK 0.0 M (0.0)
- Operating loss: SEK -42.4 M (-78.7)
- Loss after tax: SEK -42.0 M (-76.5)
- Loss per share, before and after dilution: SEK -0.23 (-0.46)
In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on November 15, at 3:00 pm (CET), 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-q3-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=50048870.
The webcast will also be available on demand on Cantargia’s corporate website: www.cantargia.com