Scandion Oncology (Scandion) today announces its Q4 & year-end report 2022. The following is taken from the report.
Francois Martelet, CEO:
“I am passionate about unlocking the potential of Scandion in drug resistance to the benefit of our many stakeholders, and – above all – the patients”
Key Figures & Highlights
| TDKK | Q4 2022 | Q1-Q4 2022 | Q4 2021 | Q1-Q4 2021 |
| Operating loss | -15,387 | -80,166 | -14,553 | -55,367 |
| Net finance income/cost | -300 | -2,034 | -261 | -1,846 |
| Loss before tax | -15,687 | -82,200 | -14,814 | -57,213 |
| Net loss | -76,700 | -14,806 | -51,705 | -15,687 |
| Total assets | 89,401 | 89,401 | 116,219 | 116,219 |
| Cash Position | 77,605 | 77,605 | 105,710 | 105,710 |
| Total equity | 70,327 | 70,327 | 104,541 | 104,541 |
| Equity ratio | 79% | 79% | 90% | 90% |
| Earnings per share (EPS) | -0.37 | -1.87 | -0.46 | -1.61 |
| Shares outstanding, ending | 40,706,972 | 40,706,972 | 32,135,544 | 32,135,544 |
Highlights during Q4 2022
- On October 10, Scandion initiates recruitment in part 3 of the CORIST phase II trial. The first of up to 36 patients has been enrolled in part 3 of the CORIST trial in accordance with the planned timeline
- On October 28, Scandion announce results of extraordinary general meeting, including adoption of authorization to issue shares both with and without pre-emptive rights for the Company’s existing shareholders, along with election of new board member, Nils Brünner
- On December 1, Scandion appoints Francois Martelet, M.D., as new Chief Executive Officer. Francois brings a wealth of highly relevant experiences to Scandion as an experienced and passionate business leader with the qualifications to successfully develop Scandion
Highlights after the end of the period
- On January 18, Scandion appoints Jan Stenvang, Ph.D., Chief Scientific Officer and member of Executive Management. Jan is co-founder of Scandion Oncology and has more than 20 years of experience in cancer research
- On January 19, Scandion receives favorable opinion from the European Patent Office on Composition of Matter Patent-application for lead compound SCO-101. The patent would provide protection of the commercial solid form of SCO-101 until at least 2042
The Q4 & year-end report 2022 is available on the Company’s website: www.scandiononcology.com.
Audiocast today, February 22 at 10:00 am CET
Today at 10:00, 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:
Webcast: https://financialhearings.com/event/46153
REPLAY access
Webcast replay will be available at www.scandiononcology.com in the Investors section and at www.financialhearings.com
For further information please contact:
Johnny Stilou, CFO
Phone: +45 2960 3532
E-mail: jos@scandiononcology.com
The information was provided by the contact person above for publication on February 22, 2023, at 08.30 CET.
Scandion Oncology (Scandion), the Cancer Drug Resistance Company, discovers and develops first-in-class medicines aimed at treating cancer which is resistant to current treatment options. We are at the forefront of this field, developing novel medicines that address cancer’s resistance against treatment. Our aim is to make existing cancer treatments work better and longer, thereby potentially prolonging and improving the life of patients who would otherwise have a high risk of dying from their cancer.
Globally, close to 10 million patients die every year from cancer and approximately 90 percent of all cancer related deaths are related to cancer drug resistance. Our medicines could be relevant in several cancers and makes both our medical and commercial potential significant.
Scandion is based in Copenhagen and its lead candidate, SCO-101, is currently being studied in clinical phase I and II trials. The company is listed on Nasdaq First North Growth Market Sweden (ticker: SCOL).
Västra Hamnen Corporate Finance is the Company’s certified advisor on Nasdaq First North Growth Market and can be reached at ca@vhcorp.se or +46 (0) 40 200 250.