Cantargia publishes year end report for 2017
Cantargia AB’s (”Cantargia”) year end report for 2017 is now available on the company’s web page www.cantargia.com/en/investors/financial-reports
Significant events in the fourth quarter
In October the first results from the CANFOUR clinical study of the first three patients in the first dose group were published. No serious side effects were documented and the first patient, who had then been treated on three occasions with the CAN04 antibody, had thus formally completed the safety evaluation in accordance with the clinical protocol.
In October Cantargia received formal patent approval in the US in respect of the CAN04 antibody. The patent protects CAN04 both as a substance and specifically for treatment of various forms of cancer in the US until 2035.
In November Cantargia announced a private placement and a rights issue. The share offerings were completed in December, raising SEK 232 million for an expanded clinical programme on CAN04. Cantargia thus has the financing it needs to expand its clinical development programme for CAN04 and accelerate the development of CANxx. Several institutional investors participated in the private placement, strengthening the company’s shareholder base.
In November, Cantargia also decided to apply for listing on Nasdaq OMX Stockholm's main list in 2018.
Significant events after the end of the period
In January 2018 Cantargia was notified that the United States Patent and Trademark Office (USPTO) had issued a Notice of Allowance for the company’s second, follow-up patent application, no. 15/196,795, in the solid tumours patent family.
In January the Chinese patent office formally approved Cantargia’s patent application for IL1RAP as target molecule for antibody therapy of several types of solid tumour.
In 2016 a third party filed oppositions to two of Cantargia’s patents in Europe. One of the patents relates to IL1RAP as target molecule for treatment of hematological cancer while the other patent relates to solid tumours. In January the European Patent Office decided that both patents should remain unchanged.
Cantargia's Nomination Committee for the 2018 Annual General Meeting is appointed and consists of Claus Andersson (Sunstone Life Science Ventures), Mats Larsson (Första AP-fonden) and Jannis Kitsakis (Fjärde AP-fonden).
In February 2018 Cantargia was notified that the United States Patent and Trademark Office (USPTO) had issued a Notice of Allowance for the company’s second, follow-up patent application, no. 15/242,242, in the hematological cancer patent family.
Full year (1 Jan 2017 – 31 Dec 2017)
- Net sales, kSEK 0 (0).
- Operating loss, kSEK -60,009 (-47,557).
- Loss after tax for the year, kSEK -60,253 (-47,490).
- Earnings per share, before and after dilution, SEK -1.86 (-2.72).
- Equity/assets ratio, 90 (76) per cent.
- Cash and cash equivalents, kSEK 149,781 (25,904).
Fourth quarter (1 Oct 2017 – 31 Dec 2017)
- Net sales, kSEK 0 (0).
- Operating loss, kSEK -14,412 (-17,217).
- Loss after tax, kSEK -14,667 (-17,152).
- Earnings per share, before and after dilution, SEK -0.40 (-0.82).
For further information, please contact
Göran Forsberg, CEO
Telephone: +46 (0)46-275 62 60
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 28 February 2018.
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 leukemic stem cells. Subsequent research has also identified IL1RAP in many other forms of cancer. The company’s main project, the CAN04 antibody targeted at IL1RAP, is being studied in the CANFOUR clinical phase I/IIa study, where the primary focus is on non-small cell lung cancer and pancreatic cancer. CAN04 has two modes of action: it blocks the function of IL1RAP and stimulates the immune system to destroy tumour cells. Cantargia’s second project, currently in the research phase, is aimed at developing an IL1RAP-binding antibody that is optimised for treatment of autoimmune 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.com.