LUND, Sweden--(BUSINESS WIRE)--Cantargia AB (STO:CANTA) Interim Report for the third quarter 2015 is now available on the company web-site (www.cantargia.com). An extract from the report is presented below.
Significant events in the third quarter of 2015
In the beginning of July Cantargia announced that the Company had signed an agreement with Glycotope Biotechnology GmbH for production of its CAN04 drug candidate. Glycotope Biotechnology will be responsible for process development and manufacture in accordance with good manufacturing practices and will produce CAN04 for use in future toxicological studies as well as clinical trials.
In August results from the use of Cantargia’s antibodies were published in the respected journal “Proceedings of the National Academy of Sciences of the United States of America (PNAS)”. The article, entitled “Antibodies targeting human IL1RAP (IL1R3) show therapeutic effects in xenograft models of acute myeloid leukemia”, documents that Cantargias antibodies targeted at IL1RAP have a potent anti-tumour effect in preclinical models of acute myeloid leukaemia.
Significant events after the end of the period
In October the European Patent Office (EPO) issued an official approval of the Company´s patent application for IL1RAP as target molecule for antibody therapy and leukaemia diagnostics. The EPO had previously issued an intention to grant notification. In the same week as the announcement of the patent approval Cantargia also announced that the EPO had issued an intention to grant for the Company’s application concerning IL1RAP as a target molecule for antibody therapy and diagnostics of several types of solid tumours.
In the autumn David Liberg was recruited for the position of Vice President Cancer Research. Dr Liberg has previously worked in tumour immunology research and has headed research projects in this field in the pharmaceutical industry. Liberg will take up his position on 1 December 2015.
In November the Company published its choice of primary indications. Clinical development activities will initially be focused on non-small cell lung cancer and pancreatic cancer. The Company also announced that data from the first toxicity study had been obtained. The data showed no indications of toxicity in clinically relevant doses.
Nine months (1 Jan. 2015 – 30 Sep 2015)
· Other operating revenue was KSEK 0 (0).
· Earnings after financial items were KSEK -12,187 (-5,823).
· Earnings per share were approximately SEK -0.91 (-0.86).
· The equity/assets ratio was approximately 95.2 (3.7) per cent.
Third quarter (1 Jul 2015 – 30 Sep 2015)
· Other operating revenue was KSEK 0 (0).
· Earnings after financial items were KSEK -3,127 (-2,116).
· Earnings per share were approximately SEK -0.23 (-0.31).
Definitions
· Earnings per share: Profit for the period divided by 13,394,874 shares as at 30 September 2015.
· Equity/assets ratio: Equity divided by total capital.
· Figures in parentheses refer to same period in the previous year.
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