Scandion Oncology – Interim Report Q2 2024
Scandion Oncology (Scandion) today announces its Interim Report Q2 2024. The following is taken from the report. Francois Martelet, CEO: “With positive data and new financing, our top priority is now business development and partnering activities” Key Figures & Highlights TDKK Q2 2024 Q1-Q2 2024 Q2 2023 Q1-Q2 2023 FY 2023 Operating loss -9,359 -19,458 -11,318 -23,292 -45,357 Net finance income/cost 225 418 66 131 654 Loss before tax -9,133 -19,040 -11,253 -23,160 -44,704 Net loss -7,164 -14,733 -8,774 -18,062 -39,204 Total assets 38,987 38,987 60,186 60,186 34,560 Cash Position 26,952 26,952 45,709 45,709 26,520 Total equity 30,727 30,727 52,265 52,265 31,122 Equity ratio 79% 79% 87% 87% 90% Earnings per share (EPS) -0.03 -0.06 -0.22 -0.44 -0.96 Shares outstanding, ending 231,928,544 231,928,544 40,706,972 40,706,972 40,706,972 Highlights during Q2 2024 On April 19, Scandion Oncology announced the intention, subject to authorizations by the annual general meeting of the Company on 6 May 2024, to carry out a Rights Issue with preferential rights for the Company’s existing shareholders. The Rights Issue of potentially SEK 60 million is secured up to SEK 30.6 million. On May 13, Scandion announced final data from the Phase Ib open-label PANTAX trial which confirms the good safety profile of SCO-101 and shows good signs of efficacy in hard-to-treat pancreatic cancer. On June 3, Scandion announced, that the company has entered into an agreement with Vator Securities AB regarding the service as a Certified Adviser. Vator Securities will be appointed Certified Adviser (CA) on September 1, 2024. On June 25, Scandion announced the outcome of the rights issue of units. The Rights Issue was subscribed to a total of approximately 50.3 percent. Through the Rights Issue, Scandion will initially receive approximately SEK 30.6 million before issue costs and in the event of exercise of warrants of series TO 2 and TO 3, in November 2024 and April 2025, respectively, the Company will receive additional proceeds. Highlights after the end of the period 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 […]