Cantargia (Cantargia AB (publ); Nasdaq Stockholm: CANTA) today announced its interim report for the first quarter of 2024.

“The year has started very well for Cantargia and our clinical project, CAN10, has come into the spotlight. CAN10 has great potential for the treatment of various inflammatory diseases, and new results from our own and competitors’ studies reinforce this view. Additionally, our other project, nadunolimab, has made important progress during the period.” said Göran Forsberg, CEO of Cantargia.

Significant events in the first quarter

  • The first results from the ongoing clinical phase 1 study of CAN10 show that the antibody binds to the target IL1RAP and shows good safety. The study is progressing according to plan.
  • New clinical and preclinical results show that nadunolimab can reduce neuropathy, which is a serious side effect of chemotherapy and antibody drug conjugates (ADCs).
  • Regulatory approval was received in the US for the initiation of the phase 2b study with nadunolimab in pancreatic cancer.

Significant events after the end of the period

  • In April, three scientific articles were published on CAN10 in atherosclerosis, systemic sclerosis, as well as the antibody’s mechanism of action.
  • Third party withdrew appeal related to Cantargia patent.

Financial information

First Quarter 2024

  • Net sales: SEK 0.0 M (0.0)
  • Operating loss: SEK -41.7 M (-77.6)
  • Loss after tax: SEK -37.0 M (-75.9)
  • Loss per share: before and after dilution, SEK -0.20 (-0.45)
  • Equity/assets ratio: 78 (77) per cent
  • Cash and cash equivalents: SEK 107.6 M (155.4)
  • Short-term investments: SEK 35.0 M (197.4)

In conjunction to the report for January to March 2024, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on May 21, at 3:00 p.m. CEST, where Cantargia’s CEO, Göran Forsberg, and CFO, Patrik Renblad, will present Cantargia and comment on the report, followed by a Q&A-session.

If you wish to participate via webcast, please use the link below. Via the webcast you will be able to ask written questions. Webcast: https://ir.financialhearings.com/cantargia-q1-report-2024.

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference: https://conference.financialhearings.com/teleconference/?id=50047194.

The webcast will also be available on demand on Cantargia’s corporate website: www.cantargia.com.

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

This information is information that Cantargia is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-21 07:00 CEST.

About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases and has established a platform based on the protein IL1RAP, involved in a number of cancer forms and inflammatory diseases. The main program, the antibody nadunolimab (CAN04), is being studied clinically primarily in combination with chemotherapy with a focus on pancreatic cancer, non-small cell lung cancer and triple-negative breast cancer. Positive interim data for the combinations indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia’s second development program, the antibody CAN10, blocks signaling via IL1RAP in a different manner than nadunolimab and 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.

Attachments
Interim Report Q1 2024

© Modular Finance, source Nordic Press Releases