Cantargia (OMX: CANT)

Currency in SEK

Last close As at 25/01/2023


−0.82 (−11.08%)

Market capitalisation


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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Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Goran Forsberg


Balance Sheet

Forecast net cash (SEKm)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual 108.2 73.4 (47.7)
Relative 93.1 53.6 (43.5)
52 week high/low SEK16.5/SEK3.0


Cantargia is developing antibodies against IL1RAP. Data from its Phase IIa CANFOUR trial, investigating nadunolimab in first-line non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), support the hypothesis that nadunolimab has a synergistic benefit with chemotherapy. At the ASCO Annual Meeting in June, Cantargia presented promising interim results for nadunolimab from a Phase I/IIa in PDAC and a Phase IIa trial in NSCLC.

The company is now preparing for the Phase II/III trial in metastatic PDAC in collaboration with PanCAN. A second programme, CAN10, is being developed for treatment of myocarditis and systemic sclerosis. New supportive preclinical data were recently presented and Phase I clinical trials are planned for early 2023. Nadunolimab is being investigated across eight different cancers in different combinations. Cantargia had a cash and short-term investment position of SEK496.5m at end-Q322.

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) (366.5) (365.80) N/A N/A
2022E 0.0 (330.8) (322.8) (240.98) N/A N/A
2023E 0.0 (294.0) (296.7) (177.15) N/A N/A

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