Cantargia's 2024 Full Year Report: A Year of Progress and Promise

Cantargia AB (publ) ("Cantargia") (Nasdaq Stockholm:CANTA) has released its full year report for 2024, highlighting significant progress in its clinical development programs and financial performance. The report, published on February 21, 2025, showcases Cantargia's commitment to transforming the treatment of debilitating and life-threatening illnesses through its innovative antibody-based therapies.

Cantargia's CEO, Damian Marron, emphasized the company's focus on prioritizing and capitalizing on high-potential opportunities, stating, "We now have two products in clinical development: CAN10 in immune and inflammatory diseases and nadunolimab in pancreatic cancer and other tumors. Both projects offer the possibility to transform the treatment and the lives of patients with debilitating and life-threatening illnesses. I aim to use all my experience to accelerate the creation of value from our programs and platform. We have a number of high-potential opportunities in front of us; prioritizing and capitalizing on these will be my principal focus in the next weeks and months."

Throughout the year, Cantargia achieved several notable milestones in its clinical programs:

1. CAN10 in immune and inflammatory diseases:
* Completed the Phase 1 clinical study with eight dose groups, demonstrating strong promising biomarker data.
* Reported positive results regarding biomarkers and safety from the ongoing Phase 1 study.
* Expanded the Phase 1 study to explore higher dose levels based on positive results.
2. Nadunolimab in pancreatic cancer and other tumors:
* Presented promising preclinical results on nadunolimab's unique anti-fibrotic effects on pancreatic cancer (PDAC).
* Communicated positive clinical results around nadunolimab's role in prevention of neuropathy.
* Reported new results from clinical studies CESTAFOUR and CAPAFOUR, where nadunolimab was tested in combination with chemotherapy in several cancers, with positive signals of effect documented in non-small cell lung cancer and gastrointestinal cancers.
* Received clearance on the IND to start the new leukemia study with nadunolimab, funded by a grant from the US Department of Defense.

Cantargia's financial performance in 2024 showed a decrease in operating loss compared to the previous year, with an operating loss of SEK -168.6 million in 2024 compared to SEK -290.0 million in 2023. This improvement can be attributed to several factors, including a rights issue that generated proceeds of SEK 120 million, positive results from clinical studies, and the expansion of the CAN10 Phase 1 study to explore higher dose levels.

Cantargia's strategic focus on immune and inflammatory diseases has positioned it as a leader in the biotechnology sector, with two projects in clinical development. The company's platform is based on the protein IL1RAP, which is involved in a number of cancer forms and inflammatory diseases. This focus has allowed Cantargia to generate significant results and attract external partners, indicating that its approach is generating interest and value.

Cantargia's competitive position in the biotechnology sector is further strengthened by its ability to pass important milestones in its clinical studies without any safety issues. The company's focus on prioritizing and capitalizing on high-potential opportunities, combined with its commitment to research and development, positions it well for long-term growth and success.

In conclusion, Cantargia's 2024 full year report highlights the company's progress in its clinical development programs and financial performance. With a strategic focus on immune and inflammatory diseases, Cantargia is well-positioned to transform the treatment and lives of patients with debilitating and life-threatening illnesses. The company's commitment to prioritizing and capitalizing on high-potential opportunities, combined with its strong financial performance, sets the stage for continued success in the years to come.