Cantargia Publishes Full Year Report for 2019

STOCKHOLM, Feb. 27, 2020 /PRNewswire/ -- Cantargia AB's ("Cantargia") full year report for 2019 is now available on the company's web page www.cantargia.com/en/investors/financial-reports. 

Significant events in the fourth quarter

• In October, it was announced that an opposition has been filed against one of Cantargia's patents in Europe covering antibody therapy in solid tumors.
• Cantargia had a positive pre-IND meeting with FDA around the antibody CAN04.
• Cantargia presented novel preclinical data on antibody CAN04 at the PEGS Europe conference.
• Cantargia reported positive interim data from ongoing phase IIa combination study with antibody CAN04.
• In December Cantargia selected CAN10 as development project in systemic sclerosis and myocarditis.

Significant events after the end of the period

• In February, Cantargia reported a successful production scale up of CAN04.
• In February, Cantargia completed a directed share issue of approximately SEK 410 million.

 Financial information

January - December 2019

• Net sales, kSEK 0 (0)
• Operating loss, kSEK -111,589 (-93,306)
• Loss after tax, kSEK -110,809 (-91,160) Loss per share, before and after dilution, SEK -1.56 (-1.36)
• Equity/assets ratio, 86 (90) per cent
• Cash and cash equivalents, kSEK 39,870 (76,528)
• Short-term investments, kSEK 110,019 (90,319)

Fourth quarter 2019

• Net sales, kSEK 0 (0)
• Operating loss, kSEK -36,429 (-28,081)
• Loss after tax, kSEK -36,275 (-27,858)
• Loss per share, before and after dilution, SEK -0.50 (-0.42)  

The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on February 27, 2020.

About Cantargia

Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases. The basis for this is the protein IL1RAP that is involved in a number of diseases and where Cantargia has established a platform. The main project, the antibody CAN04, is being studied in the clinical phase I/IIa CANFOUR study with a primary focus on non-small cell lung cancer and pancreatic cancer. The study is focused on combination therapies, but also includes a monotherapy arm. Positive interim data from the combination therapies were presented in December 2019. 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 http://www.cantargia.com.

About CAN04

The antibody CAN04 binds IL1RAP with high affinity and functions through both ADCC and blockade of IL-1α and IL-1β signaling. CAN04 is investigated in an open label phase I/IIa clinical trial, CANFOUR, examining first line chemotherapy combination with two different standard regimes in 31 patients with NSCLC (gemcitabine/cisplatin) and 31 patients with PDAC (gemcitabine/nab-paclitaxel) as well as monotherapy in late stage patients (www.clinicaltrials.gov). The phase I monotherapy data from 22 patients were presented at ASCO 2019 and showed a good safety with infusion related reaction being the most common side effect. In addition, the biomarkers IL6 and CRP were decreased with treatment and 9/21 patients had stable disease. Positive interim data from the combination therapies were presented in December 2019. A phase I trial investigating CAN04 in combination with an immune checkpoint inhibitor is planned to start H1 2020.

For further information, please contact
Göran Forsberg, CEO
Telephone: +46-(0)46-275-62-60
E-mail: goran.forsberg@cantargia.com

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