Cantargia

OMX: CANT

SEK1997.6m market cap

SEK21.95 last close

Cantargia is a clinical-stage biotechnology company listed on the Nasdaq Stockholm main market. It is developing two assets against IL1RAP, CAN04 and CAN10. CAN04 is being studied in a Phase IIa clinical trial, CANFOUR, in solid tumours focused on NSCLC and PDAC. It is is preparing to file an IND and initiate a trial in the US next year.

Investment summary

Cantargia is developing antibodies against IL1RAP. In December 2019, it reported interim data from the ongoing three-arm Phase IIa study with CAN04 in combination with first-line chemotherapy in non-small cell lung cancer (NSCLC) and pancreatic cancer (PDAC). Four out of seven evaluable PDAC patients achieved partial response and two out of three evaluable NSLC patients achieved an objective response (one complete and one partial). The results compare favourably to historical response rates to standalone chemotherapy regimens (23% in PDAC; 22–28% in first-line NSCLC). The FDA has also approved Cantargia’s IND application for a Phase Ib trial in the US with CAN04 in combination with a CPI. Recently introduced CAN10 is a preclinical project in inflammation uniquely targeting three interleukins, IL-1, IL-33 and IL-36. In February 2020, Cantargia raised SEK410m, an impressive amount of capital for a pure-play European biotech.

Y/E Dec
Revenue (SEKm)
EBITDA (SEKm)
PBT (SEKm)
EPS (öre)
P/E (x)
P/CF (x)
2018A 0.0 (93.3) (91.2) (137.73) N/A N/A
2019A 0.0 (111.6) (110.8) (155.74) N/A N/A
2020E 0.0 (138.0) (138.0) (168.51) N/A N/A
2021E 0.0 (138.5) (138.5) (152.13) N/A N/A
Industry outlook

Increasing the understanding of inflammation in malignant processes now includes findings that cytokines are not only produced by the immune cells, but that cancer itself can produce certain cytokines and the associated receptors to escape from the immune response. Therefore, cytokines represent a potentially promising class of targets in oncology.

Last updated on 02/07/2020
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (SEKm) 292.4
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.9 43.5 18.8
Relative* (1.5) 16.0 11.5
52-week high/low SEK25.0/SEK12.8
*% relative to local index
Key management
Goran Forsberg CEO