Press release
Nov 10, 2023  ·  Regulatory information

Cantargia publishes interim report for third quarter 2023

Cantargia AB’s (”Cantargia”) interim report for the period January until September 2023 is now available on the company’s web page

“The last few months have been both eventful and successful for Cantargia. We have focused and advanced our pipeline and are now managing two clinical projects as dosing of healthy volunteers has started in the CAN10 project.
We have also made great progress in the main project nadunolimab, both in the treatment of pancreatic cancer and triple-negative breast cancer. It is therefore with great excitement and anticipation that we conduct the controlled clinical trial TRIFOUR in triple-negative breast cancer and prepare a similarly controlled clinical trial in pancreatic cancer with the goal of starting patient treatment in early 2024.
The recent share issue has secured funding for remaining preparatory steps ahead of patient treatment and prolonged the runway into 2025”, said Göran Forsberg, CEO of Cantargia.

Significant events in the third quarter

  • New clinical data were presented for pancreatic cancer (PDAC), showing the strongest efficacy in patients with high levels of IL1RAP. Biomarker data also showed that high levels of IL1RAP are linked to KRAS mutations associated with aggressive disease.
  • New preclinical data showed that antitumor activity of immunotherapy is generally enhanced by nadunolimab.
  • A grant was awarded to MD Anderson, Texas, to conduct a clinical phase Ib/IIa trial with nadunolimab in leukemia.
  • Treatment was started in the first clinical phase I trial with CAN10. Furthermore, the US Food and Drug Administration, FDA, granted Orphan Drug Designation to CAN10 for treatment of systemic sclerosis.
  • In response to the oppositions on Cantargia’s patent EP3293202, the European Patent Office, EPO, ruled that the patent would remain in force with an updated patent scope.

Significant events after the end of the period

  • Positive signals of efficacy and favorable safety were presented for nadunolimab in combination with chemotherapy in triple-negative breast cancer (TNBC).
  • The EPO’s decision to maintain patent EP3293202 was appealed by a third party.
  • A directed share issue was completed of approximately SEK 59.3 M before deduction of transaction costs, implying a prolonged runway into 2025.

Financial information

January - September 2023

  • Net sales: SEK 0.0 M (0.0)
  • Operating loss: SEK -218.9 M (-291.8)
  • Loss after tax: SEK -208.8 M (-281.2)
  • Loss per share, before and after dilution: SEK -1.25 (-2.44)
  • Equity/assets ratio: 77 (88) per cent
  • Cash and cash equivalents: SEK 120.0 M (259.7)
  • Short-term investments: SEK 80.2 M (236.8)

Third quarter 2023

  • Net sales: SEK 0.0 M (0.0)
  • Operating loss: SEK -78.7 M (-74.2)
  • Loss after tax: SEK -76.5 M (-70.5)
  • Loss per share, before and after dilution: SEK -0.46 (-0.49)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference (in English) on November 10, at 3:00 p.m. CET, where Cantargia’s CEO, Göran Forsberg, and CFO, Patrik Renblad, will present Cantargia and comment on the report for the third quarter 2023, followed by a Q&A-session.

If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions. Webcast:

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.

The webcast will also be available on demand on Cantargia’s corporate website:

The information was submitted for publication, through the agency of the contact person set out below, at 2023-11-10 07:00 CET.