Cantargia (OMX: CANTA)

Last close As at 22/06/2024

SEK4.51

0.00 (0.00%)

Market capitalisation

SEK829m

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

Cantargia — Encouraging data for nadunolimab in CANFOUR

Healthcare | Flash note

Cantargia — First patient treated in Phase II part of TRIFOUR

Healthcare | Update

Cantargia — Next phase of clinical development in sight

Healthcare | Update

Cantargia — Strong momentum in first nine months of FY22

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

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 25.2 51.2 1.9
Relative 28.2 49.1 (11.5)
52 week high/low SEK5.9/SEK2.6

Financials

Cantargia is developing antibodies against IL1RAP. Interim data from CANFOUR (Phase Ib/IIa) in NSCLC and PDAC suggest that nadunolimab could have synergistic benefit with chemotherapy, with the latest update (ASCO 2024) showing 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, Cantargia shared positive data from TRIFOUR (Phase Ib portion), assessing nadunolimab in triple-negative breast cancer; the Phase II portion is ongoing. Cantargia is also preparing for a new Phase Ib/IIa clinical trial for nadunolimab in leukaemia. A second programme, CAN10 (Phase I), is being developed for the treatment of autoimmune diseases. Encouraging data were shared in March and April 2024, highlighting the potential in systemic sclerosis and atherosclerosis. At end-Q124, Cantargia had c SEK143m 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

Thematics

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Deutsches Eigenkapitalforum (EKF) 2023 healthcare

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ASCO 2023 key takeaways

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