Scandion Oncology - SCO-101 clinical progression continues
Scandion’s Q322 results provided an update on management’s continued commitment to execute on SCO-101’s clinical development strategy. Q322 operating losses amounted to DKK23.6m, largely driven by R&D expenses of DKK18.9m, with a net cash outflow from operations of DKK34.4m. With the initiation of CORIST part 3 in October, we now expect FY22 operating losses to increase to DKK86.5m (DKK65.2m previously). The net cash balance at end-Q322 stood at DKK91.4m (no debt) which, given current cash burn rates and our projections, should fund operations into Q124, beyond key anticipated clinical readouts in FY23. Based on our revised operating expenses and lower net cash position we value Scandion at SEK241.1m or SEK5.9/share (SEK279.0m or SEK6.9/share previously).Scandion Oncology A/S. Scandion Oncology A/S is a manufacturer of biological products. The Company was founded in May 2017 and is located in Copenhagen, Denmark. It focuses on modern onclogy, the treatment of cancers that have developed resistance to chemotherapy.
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