Cantargia Publishes Interim Report for Third Quarter of 2017

STOCKHOLM, Nov. 08, 2017 /PRNewswire/ --

Cantargia AB's ("Cantargia") interim report for the third quarter of 2017 is now available on the company's web page www.cantargia.com/en/investors/financial-reports.

Significant events in the third quarter 

In July, Cantargia received approval to initiate its clinical phase I/IIa study, named CANFOUR, with the CAN04 antibody in patients with cancer. Cantargia's application had then been approved by regulatory authorities and ethics committees in Denmark and Norway.

During the period Magnus Persson, Chairman, and Göran Forsberg, CEO, subscribed for 85,000 warrants and 14,000 shares, respectively, of Cantargia.

In August Cantargia was granted formal approval in Europe for its patent application for the CAN04 antibody, which protects CAN04 both as a substance and specifically for treatment of various forms of cancer in the territory until 2035.  

Significant events after the end of the period 

In October Cantargia received the same formal patent approval for the CAN04 antibody in the US as in Europe, as described above.

In October Cantargia also announced that the first patient had been treated on three occasions with the CAN04 antibody, thus formally completing the safety evaluation prescribed in the clinical protocol.

Other events

During the period Cantargia's application for a patent concerning solid tumours was approved in Australia. The patent had previously been approved in the major markets, including Europe and the United States.

In September Cantargia's CEO, Göran Forsberg, gave a presentation centered on immuno-oncology at Redeye's Fight Cancer event in Stockholm. The presentation is available on Cantargia's website.

Highlights of the financial information

Nine months (1 Jan 2017 – 30 Sept 2017)

• Earnings after financial items were kSEK -43,530 (-28,509).
• Earnings per share* were approximately SEK -1.36 (-1.61).
• The equity/assets ratio** was approximately 90 (76) per cent.

Third quarter (1 July 2017 – 30 Sept 2017)

• Earnings after financial items were kSEK -11,058 (-12,486).
• Earnings per share* were approximately SEK -0.34 (-0.71).

Definitions

* Earnings per share: Profit for the period divided by 32,075,508 shares as at 30 September 2017.

** Equity/assets ratio: Equity divided by total capital.

Unless otherwise indicated, figures in parentheses refer the same period in the previous year.

For further information, please contact

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

This constitutes information that Cantargia is required to publish under the EU's Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication through the above contact person at 08.30 CET on 8 November 2017. 

About us

Cantargia AB (publ), reg.no. 556791-6019, is a biotech company that is developing antibody-based treatments for life threatening diseases. The original discovery by the research team behind Cantargia was the overexpression of a specific target molecule, interleukin 1 receptor accessory protein "IL1RAP", in leukemia stem cells, later research has also identified IL1RAP in a large number of other forms of cancer. The lead compound, CAN04 directed against IL1RAP, will be investigated in the CANFOUR phase I/IIa clinical trial in with primary focus on non-small lung cancer and pancreatic cancer. CAN04 has a dual mechanism of action, it blocks IL1RAP function and stimulates the immune system to eradicate tumor cells. Cantargias second project is in discovery phase with the goal to develop an IL1RAP binding antibody optimized for therapy of autoimmunity and inflammatory diseases.

Cantargia is listed on Nasdaq Stockholm First North (ticker: CANTA). Sedermera Fondkommission is the company's Certified Adviser. More information about Cantargia is available at http://www.cantargia

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