Cantargia has announced that it has resolved to carry out a rights issue of approximately SEK250m. The proceeds of the raise will be used to fund the clinical development of Cantargia’s lead asset, the IL1RAP-targeting antibody, nadunolimab (CAN04), as well as progress its second antibody programme, CAN10. Encouraging clinical data was presented at ASCO and also at the company’s recent R&D day, which highlighted positive results from the CANFOUR programme in non-small cell lung cancer (NSCLC, Phase IIa) and first-line pancreatic ductal adenocarcinoma (PDAC, Phase I/IIa). Resolution of the rights issue is subject to approval by shareholders at an extraordinary general meeting to be held on 21 July. At the time of writing, Cantargia’s shares had decreased by c 30% on the news due to potential future dilution for existing shareholders.
23 Jun 2022
Cantargia - Announcement of rights issue
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Cantargia - Announcement of rights issue
Cantargia has announced that it has resolved to carry out a rights issue of approximately SEK250m. The proceeds of the raise will be used to fund the clinical development of Cantargia’s lead asset, the IL1RAP-targeting antibody, nadunolimab (CAN04), as well as progress its second antibody programme, CAN10. Encouraging clinical data was presented at ASCO and also at the company’s recent R&D day, which highlighted positive results from the CANFOUR programme in non-small cell lung cancer (NSCLC, Phase IIa) and first-line pancreatic ductal adenocarcinoma (PDAC, Phase I/IIa). Resolution of the rights issue is subject to approval by shareholders at an extraordinary general meeting to be held on 21 July. At the time of writing, Cantargia’s shares had decreased by c 30% on the news due to potential future dilution for existing shareholders.