Cantargia is a clinical-stage biotechnology company based in Sweden. It is developing two assets against IL1RAP, CAN04 and CAN10. CAN04 is being studied in several solid tumours with a main focus on NSCLC and pancreatic cancer. The most advanced trial is in Phase II.
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Cantargia has announced that it has resolved to carry out a rights issue of approximately SEK250m. The proceeds of the raise will be used to fund the clinical development of Cantargia’s lead asset, the IL1RAP-targeting antibody, nadunolimab (CAN04), as well as progress its second antibody programme, CAN10. Encouraging clinical data was presented at ASCO and also at the company’s recent R&D day, which highlighted positive results from the CANFOUR programme in non-small cell lung cancer (NSCLC, Phase IIa) and first-line pancreatic ductal adenocarcinoma (PDAC, Phase I/IIa). Resolution of the rights issue is subject to approval by shareholders at an extraordinary general meeting to be held on 21 July. At the time of writing, Cantargia’s shares had decreased by c 30% on the news due to potential future dilution for existing shareholders.
Y/E Dec |
Revenue (SEKm) |
EBITDA (SEKm) |
PBT (SEKm) |
EPS (öre) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 0.0 | (170.7) | (173.1) | (193.65) | N/A | N/A |
| 2021A | 0.0 | (366.8) | (370.3) | (369.55) | N/A | N/A |
| 2022E | 0.0 | (365.1) | (368.5) | (367.84) | N/A | N/A |
| 2023E | 0.0 | (365.7) | (369.1) | (368.39) | N/A | N/A |
Industry outlook
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Last updated on 30/06/2022Content on Cantargia
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| Forecast net cash (SEKm) | 199.4 |
| Forecast gearing ratio (%) | N/A |
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Key management |
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| Goran Forsberg | CEO |