Cantargia publishes year-end report for 2016
Cantargia AB’s (”Cantargia”) year-end report for the year 2016 is now available on the company’s web page www.cantargia.com/en/investors/financial-reports.
Significant events in the fourth quarter
Preclinical studies using CAN04 in non-small cell lung cancer models were presented at the international Protein & Antibody Engineering Summit and results generated using Cantargia’s antibodies in studies in preclinical models of chronic myeloid leukemia were presented at the American Society of Hematology.
Warrants of series TO 2 and series TO 4 were exercisable to over 98 per cent and Cantargia received around SEK 24.6 million.
A third party filed an opposition to the patent approval for antibody treatment of solid tumours which Cantargia had received from the European Patent Office. The company believes the opposition is groundless.
Cantargia and Specialized Medical Services-oncology BV signed an agreement on the execution of the company’s coming clinical phase I/IIa study using the CAN04 product candidate.
The Board of Directors of Cantargia decided, subject to approval from the general meeting of shareholders, to issue new shares with pre-emption rights for existing shareholders in January 2017.
Significant events after the end of the period
The extraordinary general meeting approved the Board’s proposed rights issue. 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.
Highlights of the financial information
Twelve months (1 Jan 2016 – 31 Dec 2016)
Other operating revenue was kSEK 0 (0).
Earnings after financial items were kSEK -44 680 (-17 190).
Earnings per share* were approximately SEK -2.14 (-1.27).
The equity/assets ratio** was approximately 78 (89) per cent.
Fourth quarter (1 Oct 2015 – 31 Dec 2015)
Other operating revenue was kSEK 0 (0).
Earnings after financial items were kSEK -16 171 (-5 003).
Earnings per share were approximately SEK -0.77 (-0.37).
* Earnings per share: Profit for the period divided by 20,917,200 shares as at 31 December 2016. It should be noted that the company completed a rights issue after the end of the period. Upon registration with the Swedish Companies Registration Office, the total number of shares of Cantargia will be 32,075,508.
** 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 EU’s Market Abuse Regulation. The information was submitted for publication through the above contact person on 15 March 2017, at 08.30.
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.