PCI Biotech announced that the previously reported efforts to finance a planned Ph II trial in head and neck cancer have not under the current market conditions resulted in a feasible way forward. As PCI Biotech will not conduct a company-sponsored Ph II trial with the fimaVacc technology a reduction of the clinical team will be enacted during the second half of 2022. Further details about the development plans for the non-clinical assets will be given at the upcoming Second Quarter reporting, scheduled 31st August 2022.

The cash position per Second Quarter 2022 is around NOK 76 million and the financial runway is estimated to be towards the end of 2023.