Release Date: November 15, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Cantargia AB (FRA:7V3, Financial) received FDA clearance to start a leukemia study, fully funded by a grant from the US Ministry of Defense.
- Positive clinical data was presented at the ESMO Congress for nadunolimab combination therapy, showing promising results after relapse PD1 inhibitor therapy.
- The CAN10 program has shown very good safety results and positive effects on biomarkers and pharmacodynamics in Phase I trials.
- Nadunolimab has demonstrated increased tolerability when combined with chemotherapy, reducing neuropathy side effects.
- The company is developing diagnostic tests to identify subgroups of patients with high IL1RAP, potentially improving treatment outcomes in pancreatic and lung cancer.
Negative Points
- Cantargia AB (FRA:7V3) is operating at a lower level of activity and spending compared to previous years, with R&D expenses down by over 40%.
- The company has a cash balance of approximately SEK60 million, necessitating a rights issue to fund future activities.
- The rights issue, if fully subscribed, will only provide funding until the middle of 2026, indicating potential future financial constraints.
- The Phase II study design for CAN10 is not yet finalized, and funding for this phase is not included in the current fundraising.
- The company had to change its strategy for the pancreatic cancer program due to new regulatory guidelines, delaying progress.
Q & A Highlights
Q: Could you specify what data points you will disclose for the TRIFOUR study in H1 and what new data in H2 2025?
A: We expect the last patient in during Q1 next year. Initial presentations in H1 will focus on response rates and safety after two CT scans. In H2, we will be ready for progression-free survival (PFS) and potentially overall survival (OS) data, along with subgroup analysis. - Goeran Forsberg, CEO
Q: Is IL1RAP upregulated after first-line treatment with checkpoint inhibitors in lung cancer?
A: Yes, IL1RAP seems to be upregulated on immune cells in the tumor microenvironment after checkpoint inhibitors, likely due to infiltration of myeloid-derived suppressor cells, which overexpress IL1RAP. - Goeran Forsberg, CEO
Q: What is the unmet need for second-line treatment after using checkpoint inhibitors in first-line lung cancer?
A: In second-line, there are very few treatment alternatives. Typically, docetaxel is used, but there are developments in KRAS inhibitors. It's a large group of patients with limited options. - Goeran Forsberg, CEO
Q: What can you say about the funding for the Phase II study of CAN10?
A: The Phase II design is not ready, and costs are not included in the current fundraising. We are in discussions about next steps for both nadunolimab and CAN10. - Goeran Forsberg, CEO
Q: Could the diagnostic test for nadunolimab also be used for CAN10 as a companion diagnostic?
A: Yes, it could evolve into a companion diagnostic. It's being developed for pancreatic cancer but could be adapted for other diseases, potentially even in dermatology for CAN10. - Goeran Forsberg, CEO
Q: What does the new cash runway cover if the rights issue is approved?
A: It will cover preparations to start the Phase II program in HS, activities related to PDAC and diagnostic validation, and keep the company financed until mid-2026 if fully subscribed. - Patrik Renblad, CFO
Q: When will the company transition into a commercial phase?
A: Assuming pancreatic cancer is the most advanced opportunity, if a Phase III trial starts in the second half of next year, results could be available in 2.5 to 3 years, with commercial activities starting around 2028. - Goeran Forsberg, CEO
Q: What happened to your participation in the PanCAN Precision Promise study?
A: Due to new regulatory guidelines on dose selection, we couldn't adapt the existing protocol. This has allowed us to develop diagnostic tests to select the best responders to nadunolimab. - Goeran Forsberg, CEO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
