Edison Investment Research - Cantargia AB (CANTA) Cantargia - CAN04 progressing on all fronts

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Edison Investment Research

Sean Conroy

Cantargia - CAN04 progressing on all fronts

Cantargia’s Q122 results were in line with our expectations. Management highlighted progress in the development of its lead IL1RAP-targeting antibody, CAN04 (nadunolimab) in two of the prioritised indications, pancreatic cancer (PDAC) and non-small cell lung cancer (NSCLC). In PDAC, CAN04 has been included, pending remaining regulatory approvals, in the Pancreatic Cancer Action Network’s pivotal, Phase II/III Precision Promise clinical trial. This is a potentially registrational study that the company estimates will report results by 2027. Cantargia plans to submit a pre-IND application, to facilitate inclusion in the trial, in Q222. Progress in CAN04’s development in both NSCLC and PDAC is expected to be presented at the upcoming American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago on 3–7 June 2022. Management also gave an update on new, positive preclinical data for CAN10, which it is investigating for the treatment of systemic sclerosis. We continue to value Cantargia at SEK6.02bn or SEK60.1/share.

24/05/2022 1 EN

Underlying

Cantargia AB

Cantargia AB is a Sweden-based company engaged in development of antibody therapeutics for the treatment of leukemia. The Company is engaged in the development of a therapy for the treatment of cancer by targeting a cell-surface receptor on malignant stem cells, through the development of antibody therapeutics for eradication of malignant stem cells. Cantargia AB uses the Interleukin-1 receptor accessory protein (IL1RAP), as the target for development of a novel antibody-based therapy for leukemia.

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SE0006371126 Nasdaq Nordic Stockholm Sweden

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Cantargia - CAN04 progressing on all fronts

Cantargia AB: 5 directors

Cantargia - Encouraging data for nadunolimab in CANFOUR

Cantargia - First patient treated in Phase II part of TRIFOUR

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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