Celyad: All ‘INK’s progressing
Celyad: (BUY, Fair Value EUR46 (+86%))All ‘INK’s progressing
Celyad has reported its H1 financial results and provided a brief update on pipeline progress. The company continues to advance its extensive CYAD-01 dose-ranging and regimen-testing ‘INK’ clinical trials progamme in both acute myeloid leukaemia (AML) and colorectal cancer (CRC), and expects to initiate patient dosing in the CYAD-101 allogeneic CAR-T programme, Allo-SHRINK, in Q4. Financial performance in the period contained no material surprises, and following the capital increase in May which raised EUR43m net of expenses, the company ended the period with EUR63.2m. Our FV remains unchanged at EUR46.
Celyad is engaged in engineered cell therapy treatments with clinical programs initially targeting indications in cardiovascular disease and oncology. Co. provides C-CATHez, an injection catheter that delivers bio therapeutic agents into the myocardium. Co.'s main product is C-Cure, which is in Phase III clinical trials for the treatment of chronic heart failure secondary to ischemic cardiomyopathy. Co.'s drug product candidates are autologous cell therapy treatments. In autologous procedures, a patient's cells are harvested, selected, reprogrammed and expanded, and then infused back into the same patient.
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