Cantargia - Edison Group

Overview
Price performance
Financials
Research
Thematics

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 non-small cell lung cancer (NSCLC) and pancreatic cancer. The most advanced trial is in Phase II.

Understanding of inflammation in cancer indicates that cytokines are produced not only by immune cells, but also by cancer cells to evade immune responses, making cytokines promising oncology targets. Further, recent Phase II data for AbbVie’s lutikizumab has increased interest in Cantargia’s CAN10, as it blocks IL-33 and IL-36 in addition to IL-1.

Latest Insights

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Healthcare |
Flash note

19.04.23

Cantargia — Encouraging data for nadunolimab in CANFOUR

Healthcare |
Flash note

14.03.23

Cantargia — First patient treated in Phase II part of TRIFOUR

Healthcare |
Update

27.02.23

Cantargia — Next phase of clinical development in sight

Healthcare |
Update

11.11.22

Cantargia — Strong momentum in first nine months of FY22

Sector

Healthcare

Equity Analyst

Soo Romanoff

Managing Director - Head of Content, Healthcare

Associate analyst

Key Management

Goran Forsberg

CEO

Balance Sheet

Forecast net debt (SEKm)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	7.3	(13.8)	(6.8)
Relative	3.6	(10.8)	(21.0)
52 week high/low	SEK5.0/SEK2.6

Financials

Cantargia is developing antibodies against IL1RAP. Interim data from CANFOUR (Phase Ib/IIa) in NSCLC and PDAC suggest that nadunolimab could be synergistic with chemotherapy; the latest update (ASCO 2024) showed potential to counteract neuropathy. Supportive clinical/biomarker data for PDAC have been reported and the company is preparing for a Phase IIb trial in PDAC. Further, it shared positive data from TRIFOUR (Phase Ib portion), assessing nadunolimab in triple-negative breast cancer; the Phase II portion is ongoing with initial results expected in H125. A new Phase Ib/IIa clinical trial for nadunolimab in leukaemia is expected to start in Q424. A second programme, CAN10 (Phase I), is ongoing for the treatment of autoimmune diseases (MAD part due to commence in Q324) and recently presented supportive preclinical data in fibrotic lung diseases. At end-Q224, Cantargia had c SEK105m in cash and short-term investments.

Y/E Dec	Revenue (SEKm)	EBITDA (SEKm)	PBT (SEKm)	EPS (öre)	P/E (x)	P/CF (x)
2022A	0.0	(377.9)	(371.8)	(290.43)	N/A	N/A
2023A	0.0	(286.6)	(280.0)	(164.94)	N/A	N/A
2024E	N/A	N/A	N/A	N/A	N/A	N/A
2025E	N/A	N/A	N/A	N/A	N/A	N/A

Research

Flash note

Healthcare

23.06.22

Cantargia — Announcement of rights issue

Flash note

Healthcare

31.05.22

Cantargia — ASCO data do not disappoint

Healthcare

edison tv

Cantargia – executive interview

Flash note

Healthcare

24.05.22

Cantargia — CAN04 progressing on all fronts

Update

Healthcare

09.05.22

Cantargia — Useful insights from CANOPY-1 data

edison tv

Healthcare

16.03.22

Cantargia – executive interview

edison tv

Healthcare

10.02.22

Cantargia: Edison Open House Healthcare 2022

Update

Healthcare

30.11.21

Cantargia — ‘Post-Novartis’ era has begun

edison tv

Healthcare

26.05.21

Cantargia – executive interview

Update

Healthcare

06.04.21

Cantargia — Sentiment affected, but fundamentals robust

edison tv

Healthcare

15.03.21

Cantargia – executive interview

Flash note

Healthcare

10.03.21

Cantargia — Novartis’s CANOPY-2 trial disappoints

edison tv

Healthcare

03.02.21

Cantargia – Edison Open House interview

Update

Healthcare

30.10.20

Cantargia — Buoyant on CANFOUR and CANOPY interims

Update

Healthcare

06.05.20

Cantargia — Great equity story underpins large share issue

edison tv

Healthcare

29.01.20

Executive interview – Cantargia

Update

Healthcare

17.12.19

Cantargia — Excellent end to the year

Update

Healthcare

27.08.19

Cantargia — CANFOUR study on track, US trial preparations

Update

Healthcare

13.06.19

Cantargia — Full Phase I data presented at ASCO

Update

Healthcare

08.03.19

Cantargia — Signs of growing interest in IL-1 pathway targets

edison tv

Healthcare

28.02.19

Executive interview – Cantargia

Update

Healthcare

03.01.19

Cantargia — Nidanilimab transitioning to Phase IIa

Update

Healthcare

30.10.18

Cantargia — CANFOUR interim Phase I presented at ESMO

Update

Healthcare

13.09.18

Cantargia — Phase IIa set to start in Q418

Initiation

Healthcare

07.06.18

Cantargia — Tackling tumour promoting inflammation

thematic

Healthcare

26.01.23

Machine learning in drug development

thematic

Healthcare

06.01.23

Outlook for 2023: Biotechs remain central to novel drug development

Cancer cells

thematic

Healthcare

04.01.23

Oncology ABCs (part four): Blood cancers (AML) – notable innovations

cell DNA double helix

thematic

Healthcare

20.12.22

Cell and gene therapies

thematic

Healthcare

28.11.22

Drug delivery platforms

thematic

Healthcare

07.11.22

Oncology ABCs (part three) – thinking outside the box in women’s cancer

thematic

Healthcare

01.11.22

Neuroscience comeback

thematic

Consumer

05.10.22

IPO apocalypse

thematic

Healthcare

03.10.22

Oncology ABCs (part two) – vaccines: niche no longer

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

Healthcare

01.07.22

Oncology ABCs (part one) – a small-cap biopharma prospectus series

thematic

Healthcare

26.04.22

Cannabinoid manufacturing – Innovative approaches to the production of cannabinoids

thematic

Healthcare

10.11.21

Artificial intelligence in drug discovery

thematic

Healthcare

27.07.21

Biosynthesis – Taking the cannabinoid market to new heights

thematic

Healthcare

01.02.21

Confidence renewed as new COVID-19 vaccines demonstrate protection against emergent strains and efficacy with a single-dose regimen

thematic

Healthcare

30.10.19

Edison Exhibits- antibiotic development

thematic

Healthcare

17.07.19

The next wave in AMD

thematic

Healthcare

18.06.19

The A-B-T of biosimilars- Explaining contemporary life science issues

thematic

Healthcare

10.06.19

Cannabinoid Therapies- The coming retail wave

thematic

Healthcare

22.05.19

Cannabinoid Therapies- Therapeutics turning a corner

thematic

Healthcare

08.04.19

Trial outcomes and value – Explaining contemporary clinical trial issues

thematic

Healthcare

04.03.19

Drug pricing – Market access and reimbursement

thematic

Healthcare

29.01.19

The diagnostics sector

thematic

Healthcare

21.06.17

ASCO 2017

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

Healthcare

05.03.14

Edison healthcare quarterly: A boost for allergy immunotherapy

thematic

Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

thematic

Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

thematic

Healthcare

07.12.12

Edison healthcare quarterly: Boom times for US biotech

thematic

Healthcare

30.08.12

Edison healthcare quarterly: Crisis? What crisis?

thematic

Healthcare

28.05.12

Edison healthcare quarterly: How to please some of the people some of the time