Scandion Oncology – Q4 & yearend report 2023
Scandion Oncology (Scandion) today announces its Q4 & yearend report 2023. The following is taken from the report. Francois Martelet, CEO: “Completion of and very positive topline results from part 3 of the CORIST trial makes for a strong finish to 2023 and a good start to 2024. We are excited by the positive clinical data substantiating our bio-modulating mechanism of action of our lead compound SCO-101 through the ABCG2 and UGT1A1 targets” Key Figures & Highlights TDKK Q4 2023 Q1-Q4 2023 Q4 2022 Q1-Q4 2022 Operating loss -11,156 -45,357 -15,387 -80,166 Net finance income/cost 167 654 -300 -2,034 Loss before tax -10,989 -44,703 -15,687 -82,200 Net loss -10,989 -39,204 -15,687 -76,700 Total assets 34,560 34,560 89,401 89,401 Cash Position 26,520 26,520 77,605 77,605 Total equity 31,122 31,122 70,327 70,327 Equity ratio 90% 90% 79% 79% Earnings per share (EPS) -0.27 -0.96 -0.39 -1.88 Shares outstanding, ending 40,706,972 40,706,972 40,706,972 40,706,972 Highlights during Q4 2023 On October 16, Phase Ib PANTAX Trial is successfully completed and establishes the Maximal Tolerated Dose with positive Safety Profile and Pharmacokinetic data. On November 21, Final data from the Phase IIa open-label CORIST part 2 trial shows impressive Overall Survival median of 10.4 months. A subset of patients (17 out of 25) had OS median of 13.4 months. Historical median OS data for the same patient population treated with placebo or best supportive care have been reported in the range of 5-7 months. On November 29, Scandion Oncology was granted new Composition of Matter-patent on lead compound SCO-101 extending its exclusivity until at least 2042. On December 15, Scandion Oncology identifies potentially effective treatment of gastric cancer. Pre-clinical studies have confirmed the potential of SCO-101 to revert gastric cancer cells’ resistance to chemotherapy, making the therapy more effective in clinical practice. Highlights after the end of the period On January 5, Scandion Oncology receives Notice of Allowance for patent to enhance US patent exclusivity on SCO-101. When granted, the patent will offer a very broad intellectual protection until at least 2037. On January 31, Positive topline Phase IIa data from the CORIST Part 3 trial was reported, and impressive tumor reduction of more than 30% (partial response) was observed in one patient (out of 21 evaluated patients). Median Progression Free Survival (PFS) was 4.6 months in Part 3, superior to the PFS reported in CORIST part 2, and Clinical […]