Release Date: August 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Cantargia AB (FRA:7V3, Financial) has made significant progress in its CAN10 program, nearing completion of the initial sub part of the Phase I trial with no safety concerns identified.
- The company has generated strong biomarker data, indicating a potent drug with documented receptor binding on immune cells.
- Cantargia AB (FRA:7V3) has presented new data in pancreatic cancer, showing additional features on antifibrotic effects and prevention of neuropathy.
- The company has made progress in its upcoming leukemia trial and is nearing the end of recruitment in its triple-negative breast cancer trial.
- Cantargia AB (FRA:7V3) has achieved a 30% reduction in operating expenses in Q2 2024, driven by a decrease in R&D costs.
Negative Points
- Recruitment for the triple-negative breast cancer trial slowed down during the summer, potentially due to competition and other factors.
- The company needs to secure substantial financing, estimated at SEK 250 million, to start the Phase IIb pancreatic cancer trial.
- Cantargia AB (FRA:7V3) has a cash runway that only extends to the first quarter of next year, necessitating additional funding.
- There are ongoing discussions about risk-sharing or partnerships for the pancreatic cancer trial, but no concrete agreements have been reached yet.
- The company faces challenges in balancing the development of its two main programs, nadunolimab and CAN10, without prioritizing one over the other.
Q & A Highlights
Q: Can you explain the delay in the TRIFR study recruitment during the summer? Was it due to competition or other factors?
A: Recruitment slowed down more than expected this summer, likely due to multiple factors, including holiday effects. We are investigating further but believe our H1 guidance provides sufficient room to maneuver and meet milestones.
Q: What differentiates CAN10 in treating hydrogen Super Ativa compared to other IL-36 drugs and current treatments like IL-17 and TNF-alpha inhibitors?
A: Current treatments like anti-IL-17 and anti-TNF have response rates around 50%, leaving a significant unmet need. CAN10 aims to improve efficacy by targeting multiple cytokines (IL-1, IL-33, IL-36) simultaneously, addressing various aspects of the disease such as inflammation, itch, and draining tunnels.
Q: Are there any significant payments to CROs or suppliers scheduled for the second half of the year that could increase R&D costs?
A: No extraordinary payments are planned. We are prioritizing ongoing trials and will not invest in new activities until additional financing is secured.
Q: Can you provide more details on the stage of the triple-negative breast cancer study and what data can be expected in H1 2025?
A: The majority of patients have been recruited, and we expect full recruitment by Q1. We aim to communicate efficacy and safety data as soon as possible, though it will not include long-term follow-up.
Q: How do you plan to use the full data from the triple-negative breast cancer study in your partnering discussions?
A: The randomized data will be crucial in proving the drug's efficacy, which will support partnering discussions. We see significant commercial opportunities, especially in pancreatic cancer, where competition is lower.
Q: How far does the current cash runway take you in your different programs, and are you prioritizing nadunolimab and CAN10 equally?
A: We prioritize value-adding activities regardless of the program. Currently, the ongoing trials for nadunolimab and CAN10 are the most important, and we are not investing in new activities until financing is secured.
Q: Can you share more about your potential PDAC study and the criteria for MAD dosing in the CAN10 study?
A: We are exploring several opportunities for the PDAC study, including risk-sharing and partnerships. For CAN10, the MAD dosing takes into account pharmacokinetics from the SAD part, and we aim to identify a highly active and efficient dose level.
Q: Has the development of KRAS inhibitors influenced your strategy for nadunolimab in pancreatic cancer?
A: While KRAS inhibitors are making strides, our strategy remains focused on advancing our program as a first-line combination. We see potential for future combinations targeting both KRAS mutations and their downstream effects.
Q: What is your partnering strategy for CAN10, and how actively are you pursuing partnerships?
A: We aim to partner one of our programs to focus on the other and secure financing. We are pragmatic about whether CAN10 or nadunolimab will be partnered first, depending on the opportunities that arise.
Q: Can you elaborate on the results you will present at ESMO and other conferences in 2024?
A: At ESMO, we will present robust survival and progression-free survival data for the KEYTRUDA combination, along with biomarker analysis. We will also present data on non-small cell lung cancer, incorporating new patient data and subgroup analysis. Additional data from other trials will be presented later in the year.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
