Scandion Oncology A/S announces its results for the first half year of 2021
Scandion Oncology today announces its half year report for 2021. The following is taken from the report.
Bo Rode Hansen, President and CEO comments
“Positive interim CORIST results highlight an intensive quarter - The second quarter of 2021 was as busy and rewarding as the first three months. We reached several milestones both clinically and organizationally. Most importantly, we reported positive interim results from our Phase II
clinical study CORIST.”
Key figures & highlights
| TDKK | Q2 2021 | Q2 2020 | Q1-Q2 2021 | Q1-Q2 2020 | 2020 |
| Net sales | 0 | 0 | 0 | 0 | 0 |
| Profit/loss before financial items (EBIT) | -15,400 | -4,755 | -25,212 | -8,797 | -22,888 |
| Profit/loss for the period | -12,543 | -3,404 | -21,304 | -7,179 | -16,269 |
| Total assets | 144,556 | 13,937 | 144,556 | 13,937 | 186,408 |
| Cash Position | 131,543 | 7,276 | 131,543 | 7,276 | 5,814 |
| Equity ratio | 93% | 80% | 93% | 80% | 84% |
| Number of registered shares | 32,135,544 | 19,052,241 | 32,135,544 | 19,052,241 | 32,135,544 |
| Average number of shares | 32,135,544 | 19,052,241 | 32,135,544 | 19,052,241 | 19,610,995 |
| Earnings per share (DKK) | -0.39 | -0.18 | -0.66 | -0.38 | -0.83 |
Highlights during Q2 2021
- On 21 April, Scandion Oncology announced that Dr. Richard L. Schilsky, a seasoned and highly profiled international leader, was appointed as member of Scandion Oncology’s clinical advisory board
- On 2 June, Scandion Oncology appointed Johnny Stilou as new CFO. He has long experience from both Danish and international listed companies.
- On 24 June, Scandion Oncology reported positive results from the dose-finding part 1 of the CORIST Phase II study. A well tolerated dose of SCO-101 in combination with the chemotherapy regimen FOLFIRI had been determined and the SCO-101 treatment in the optimized combination resulted in notable potentiation of the biological activity of FOLFIRI. Furthermore, from the CORIST study the RAS oncogene has been identified as a predictive biomarker of optimal SCO-101 effect. This discovery will be used to optimize the inclusion of patients in part 2. These positive data have significantly de-risked the further development of SCO-101 and the company is now ready to advance to the proof-of-concept study (part 2) of CORIST.
- On 30 June, Scandion Oncology announced promising preclinical data from the ongoing collaboration with Alligator Bioscience AB, exploring the anti-tumor effects on drug resistant cancer by combining Scandion Oncology’s drug candidate SCO-101 and Alligator Bioscience’s candidate drug mitazalimab together with chemotherapy.
Highlights after the end of the period
- On 19 July, Scandion Oncology announced the date for the Scandion Oncology Capital Markets Day, which will take place on September 8, 2021.
The half year report 2021 is available on the Company's website: www.scandiononcology.com.
Audiocast today, 19 August at 10:00 am CET
Today at 10:00 Scandion Oncology’s executive management will host a webcast and conference call presenting the results and a company update.
At the end of the presentation there will be a Q&A session.
Access to the event can be obtained as follows:
https://financialhearings.com/event/13912
Conference call dial-in details:
SE: +46 85 05 58 365
DK: +45 7872 3252
UK: +44 33 3300 9264
US: +1 646 7224 904
REPLAY access:
Webcast replay will be available at www.scandiononcology.com in the Investors section and at www.financialhearings.com
For further information regarding Scandion Oncology A/S, please contact:
Bo Rode Hansen, President & CEO
Phone: +45 3810 2017
E-mail: info@scandiononcology.com
Website: www.scandiononcology.com
This information is information that Scandion Oncology A/S is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 19 August 2021, at 8:30 CET
About Scandion Oncology A/S
Scandion Oncology A/S is a clinical Phase II biotechnology company currently developing first-in-class, oral add-on drugs to existing market leading anti-cancer therapies. As add-on to standard anti-cancer therapies, it introduces an effective treatment approach for cancer, which is or has become resistant to cancer-fighting drugs, offering the potential for better response rates, longer survival and improved quality of life. The first-in-class lead candidate, SCO-101, is currently in clinical Phase II. The Company is targeting cancer drug resistance in various treatment modalities including chemotherapy, anti-hormonal therapy and immunotherapy. Scandion Oncology is listed on Nasdaq First North Growth Market Sweden. Ticker: SCOL.
Västra Hamnen Corporate Finance is the Company's certified advisor on Nasdaq First North Growth Market and can be reached at ca@vhcorp.se or +46 (0) 40 200 250.