Cantargia publishes full year report for 2020

STOCKHOLM, Feb. 25, 2021 /PRNewswire/ -- Cantargia AB's ("Cantargia") full year report for 2020 is now available on the company's web page www.cantargia.com/en/investors/financial-reports. 

Significant events in the fourth quarter

• The first patient started treatment in the US phase 1 study evaluating combination therapy with CAN04 and pembrolizumab.

• The recruitment of patients with pancreatic cancer for the CANFOUR phase 2a study was completed and positive interim results were presented.

• At an extraordinary general meeting in October, Flavia Borellini was elected as a new Director of the company.

• In December, Cantargia completed a directed share issue, raising approximately SEK 564 million before transaction costs.

Significant events after the end of the period

• The first patient with pancreatic cancer started treatment in the extension part of the CANFOUR study.

Financial information

 January - December 2020

• Net sales: SEK 0 (0) million
• Operating loss: SEK -173.9 (-111.6) million
• Loss after tax: SEK -173.1 (-110.8) million
• Loss per share: before and after dilution, SEK -1.94 (-1.56)
• Equity/assets ratio: 96 (86) per cent
• Cash and cash equivalents: SEK 693.4 (39.9) million
• Short-term investments: SEK 210.0 (110.0) million

 Fourth quarter 2020

• Net sale: SEK 0 (0) million
• Operating loss: SEK -56.5 (-36.4) million
• Loss after tax: SEK -56.5 (-36.3) million
• Loss per share: before and after dilution, SEK -0.60 (-0.50)

For further information, please contact

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

This full year report has been approved by the board of directors and the CEO for publication. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on February 25, 2021.

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 clinically as combination therapy 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 show a higher response rate 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.

About CAN04

The antibody CAN04 binds strongly to the target IL1RAP and functions both though ADCC as well as blocking IL-1α and IL-1β signaling. Thereby, CAN04 can counteract the contribution of the IL-1 system to the immune suppressive tumor microenvironment and development of resistance to chemotherapy. CAN04 is investigated in two clinical trials. In the first phase I/IIa-study, CANFOUR, first line combination therapy is investigated using two different standard chemotherapies in 31 patients with NSCLC (gemcitabine/cisplatin) and 31 patients with PDAC (gemcitabine/nab-paclitaxel), as well as monotherapy in late stage patients (https://clinicaltrials.gov/ct2/show/NCT03267316). Phase I monotherapy data from 22 patients were presented at ASCO 2019 and showed good safety with infusion related reaction being the most common side effect. In addition, the biomarkers IL6 and CRP decreased during treatment. Positive interim data from the combination arms was presented during H2 2020 and showed a higher response rate than expected from chemotherapy alone. A phase I study investigating CAN04 in combination with an immune checkpoint inhibitor started H2 2020 (https://clinicaltrials.gov/ct2/show/NCT04452214). Additional clinical combination studies are planned to start during 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/cantargia-ab/r/cantargia-publishes-full-year-report-for-2020,c3294865

The following files are available for download: