LYON, France--(BUSINESS WIRE)--MaaT Pharma (EURONEXT: MAAT – the “Company”), a French clinical-stage biotech and a pioneer in the development of microbiome-based ecosystem therapies dedicated to improving survival outcomes for patients with cancer today reported its cash position as of December 31, 2021, and its full-year 2021 revenues.
“2021 has been an eventful year for MaaT Pharma. Promising results from our Phase 2 and from the Early Access Program for MaaT013, our lead candidate ready to enter a Phase 3 study, marked our clinical development. We also reached a new milestone in our history in 2021 with the success of our IPO on the Euronext, which allowed us to raise EUR 35.7 million. We are in a solid financial position and are moving forward in our development with value-creating clinical milestones expected in the upcoming months for MaaT013 and our second drug candidate, MaaT033, as well as scaling up our manufacturing capacities,” stated Hervé Affagard, CEO and co-founder of MaaT Pharma.
Cash position1
As of December 31, 2021, total cash and cash equivalents were EUR 43.3 million, as compared to EUR 19.9 million as of December 31, 2020. The increase in cash flow is due to the capital raise of EUR 35.7 million following the Company’s IPO on Euronext on November 8, 2021. The Company believes it has sufficient cash to cover needs of the development programs presented during the IPO up until the end of the third quarter of 2023.
Revenues in 20211
MaaT Pharma reported revenues of EUR 1.0 million for the year ended December 31, 2021, which includes compensation from the Temporary Authorization for Use program (ATUn), known as compassionate access program since July 1, 2021, and approved by the French National Drug Safety Agency (Agence Nationale de Sécurité du Médicament or ANSM). In 2021, new patients, mostly suffering from graft-versus-host disease, were granted early access treatment with MaaT013. To date in 2022, requests for the early access program are following as similar trend to that observed in 2021.
Upcoming financial communication and investor conference participation
- March 3, 2022 (10:00am CET) – Ordinary and Extraordinary Shareholders’ General Meeting (regarding resolutions relative to the implementation of a Liquidity Contract, the Annual General meeting will take place at a later date).
- April 15, 2022 – Annual results 2021
- April 20 and 21, 2022 - 14th Kempen Life Sciences Conference, Amsterdam
- June 29 and 30, 2022 – 9th Portzamparc Annual conference, Paris
About MaaT Pharma
MaaT Pharma, a clinical stage biotechnology company, has established a complete approach to restoring patient-microbiome symbiosis in oncology. Committed to treating cancer and graft-versus-host disease (GvHD), a serious complication of allogeneic stem cell transplantation, MaaT Pharma has already achieved proof of concept in a Phase II clinical trial in acute GvHD. Our powerful discovery and analysis platform, gutPrint®, supports the development and expansion of our pipeline by determining novel disease targets, evaluating drug candidates, and identifying biomarkers for microbiome-related conditions.
The company’s Microbiome Ecosystem Therapies are produced through a standardized cGMP manufacturing and quality control process to safely deliver the full diversity of the microbiome, in liquid and oral formulations. MaaT Pharma benefits from the commitment of world-leading scientists and established relationships with regulators to support the integration of the use of microbiome therapies in clinical practice.
MaaT Pharma is the first company developing microbiome-based therapies listed on Euronext Paris (ticker: MAAT).
Forward-looking Statements
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.
1 Unaudited data
