Scandion Oncology

Overcoming cancer drug resistance

Scandion Oncology ("Scandion" or the "Company") announces that today, 14 November 2024, is the last day of trading in warrants of series TO 2. The exercise period for the warrants of series TO 2 runs up to and including 18 November 2024. One (1) warrant of series TO 2 entitles the holder to subscribe for one (1) new share in the Company. The exercise price is SEK 0.12 per share. Note that warrants of series TO 2 not sold by today, 14 November 2024, or used to subscribe for shares no later than on 18 November 2024, expire without value. Scandion carried out a rights issue of units during the second quarter of 2024. Within the rights issue, a total of 143,416,179 warrants of series TO 2 were issued. One (1) warrant of series TO 2 entitles the holder to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO 2 was to be determined to seventy (70) per cent of the volume weighted average price of the Company’s share during the period from and including 16 October 2024 up to and including 29 October 2024, however not lower than the quota value of the share and not higher than 125 per cent of the subscription price in the rights issue. During the measurement period, the volume-weighted average price for the Company's share was approximately SEK 0.12, therefore the exercise price for the warrants of series TO 2 has been determined to SEK 0.12. Subscription of shares by exercise of warrants of series TO 2 takes place during the period from and including 4 November 2024 up to and including 18 November 2024. If all the warrants of series TO 2 are exercised, the Company will receive approximately SEK 17,2 million before issue costs. For the warrants to not expire without value, it is required that the holder actively subscribes for new shares no later than on 18 November 2024 or sell the warrants no later than today, on 14 November 2024. Please observe that certain nominees might close their subscription earlier than on 18 November 2024. If all warrants of series TO 2 are exercised the share capital will increase with DKK 10,541,089.15650 through the issuance of 143,416,179 new shares. This correspondence to a dilution effect of approximately 38,2 per cent of the number of shares and number of votes. Full […]

Scandion Oncology (Scandion) today announces its Interim Report Q3 2024. The following is taken from the report. Francois Martelet, CEO: “Business development and partnering activities remains our focus and has our top priority” Key Figures & Highlights TDKK Q3 2024 Q1-Q3 2024 Q3 2023 Q1-Q3 2023 FY 2023 Operating loss -7,695 -27,153 -10,910 -34,202 -45,357 Net finance income/cost -248 170 355 487 654 Loss before tax -7,943 -26,983 -10,555 -33,715 -44,704 Net loss -6,750 -21,483 -10,153 -28,215 -39,204 Total assets 28,386 28,386 50,832 50,832 34,560 Cash Position 14,810 14,810 36,330 36,330 26,520 Total equity 23,701 23,701 42,111 42,111 31,122 Equity ratio 83% 83% 83% 83% 90% Earnings per share (EPS) -0.03 -0.09 -0.25 -0.69 -0.96 Shares outstanding, ending 231,928,544 231,928,544 40,706,972 40,706,972 40,706,972             Highlights during Q3 2024 On July 1, Scandion board member Michel Ducreux stepped down due to ESMO scientific society’s guidelines prohibiting such board positions. He joined the advisory board. On August 16, Scandion Oncology achieved Maximum Tolerated Dose (MTD) for CORIST part 3. The established MTD for a 4-Days schedule of SCO-101 in combination with FOLFIRI was found to be 250 mg daily SCO-101, 50% irinotecan and 100% Leucovorin and 5-FU. On August 19, Scandion announced that the top priority following the very encouraging part 3 CORIST data is business development and partnering activities. As part of these efforts, Scandion is working together with Back Bay Life Science Advisors LLC, a prominent life sciences investment banking firm, to explore and evaluate actionable strategic and financial alternatives. Highlights after the end of the period On October 31, Scandion announced that the exercise price for the warrants of series TO 2 has been determined to SEK 0,12 and that the exercise period is between November 4-18, 2024. The Interim Report Q2 2024 is available on the Company's website: www.scandiononcology.com. Audiocast today, November at 09:00 am CET Today at 09:00, Scandion Oncology’s executive management will host a webcast and conference call presenting the results and a company update. At the end of the presentation there will be a Q&A session. Access to the event can be obtained as follows: LIVE access today Monday, November 11, 2024, at 09:00 CET: https://financialhearings.com/event/48943 REPLAY accessWebcast replay will be available at www.scandiononcology.com in the Investors section and at www.financialhearings.com For further information please contact:Johnny Stilou, CFOPhone: +45 2960 3532E-mail: jos@scandiononcology.com The information was provided by the contact person above […]