STOCKHOLM, May 15, 2017 /PRNewswire/ -- Cantargia AB's ('Cantargia') interim report for January-March 2017 is now available on the company's web page www.cantargia.com/en/investors/financial-reports.
Significant events in the first quarter
In January 2017 an extraordinary general meeting voted to approve the rights issue proposed by the Board. The subscription period ran from 23 January to 6 February 2017. The rights issue was 80 per cent subscribed, raising approximately SEK 72.5 million before issue costs.
In connection with the publication of the prospectus for the rights issue Cantargia also published some new financial information, which is included in the prospectus.
Significant events after the end of the period
In April 2017 Cantargia received preliminary patent approval for CAN04 in Europe. The patent protects CAN04 both as a substance and specifically for treatment of various forms of cancer. Upon formal approval of the patent, CAN04 will be protected in Europe until 2035.
In May it was reported that CAN04 had been shown to have good safety characteristics in two separate GLP studies – a toxicity study and a study looking at CAN04 binding to tissues from healthy donors. Taken together, the studies support Cantargia's expectation that CAN04 will be associated with a good safety in patients.
Cantargia also submitted an application to start the phase I/IIa clinical trial with CAN04 in patients with cancer. The study is planned to be performed in BeNeLux and Scandinavia and will primarily include patients with non-small cell lung cancer or pancreatic cancer.
Highlights of the financial information
First quarter (1 Jan 2017 – 31 Mar 2017)
- Other operating income was kSEK 321 (0).
- Earnings after financial items were kSEK -17,175 (-8,097).
- Earnings per share* were approximately SEK -0.54 (-0.60).
- The equity/assets ratio** was approximately 89 (78) per cent.
* Earnings per share: Profit for the period divided by 32,075,508 shares as at 31 March 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
This constitutes information that Cantargia is required to publish under the Trade Securities Act. The information was submitted for publication through the above contact person at 08.30 CET on 15 May 2017.
Cantargia AB (publ), reg.no. 556791-6019, is a biotech company that is developing an antibody-based cancer treatment, which aims to attack cancer cells and arrest the inflammation of the tumour. The original discovery by the research team behind Cantargia was the overexpression of a specific target molecule, interleukin 1 receptor accessory protein "IL1RAP", in cancer stem cells in patients with leukemia that is not found in normal stem cells in the bone marrow. In preclinical studies (in vitro and in vivo) the antibody, targeted at IL1RAP, has been shown to have two potential mechanisms of action, which are complementary. The Company has selected a product candidate, CAN04, for future studies in humans and development activities have been focused on non-small cell lung cancer and pancreatic cancer.
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
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SOURCE Cantargia AB