Scandion Oncology today announces its third quarter report for 2021. The following is taken from the report.
Bo Rode Hansen, President and CEO comments
“During the third quarter, Scandion Oncology has continued the transformation towards the Cancer Drug Resistance company according to the company’s strategy. We completed the first Capital Markets Day where we conveyed the strategy for the registrational path to market of our clinical programs.”
Key figures & highlights
| TDKK | Q3 2021 | Q3 2020 | Q1-Q3 2021 | Q1-Q3 2020 | 2020 |
| Net sales | 0 | 0 | 0 | 0 | 0 |
| Profit/loss before financial items (EBIT) | -15,306 | -4,911 | -40,518 | -13,709 | -22,888 |
| Profit/loss for the period | -15,309 | -3,891 | -36,612 | -11,071 | -16,269 |
| Total assets | 129,545 | 11,338 | 129,545 | 11,338 | 186,408 |
| Cash Position | 117,360 | 7,505 | 117,360 | 7,505 | 5,814 |
| Equity ratio | 92% | 64% | 92% | 64% | 84% |
| No. of shares end of the period | 32,135,544 | 19,052,241 | 32,135,544 | 19,052,241 | 32,135,544 |
| Average number of shares | 32,135,544 | 19,052,241 | 32,135,544 | 19,052,241 | 19,610,995 |
| Earnings per share (DKK) | -0.48 | -0.20 | -1.14 | -0.58 | -0.83 |
Highlights during Q3 2021
- On August 25, Scandion Oncology announced that the US Patent and Trademark Office (USPTO) will grant the company’s patent US11,103,481 directed to the use of SCO-101. The granted patent covers combination therapy with Scandion Oncology’s first-in-class lead candidate SCO-101. The patent claims the use of SCO-101 in combination with different anti-cancer agents across many cancer indications.
- On August 27, Scandion Oncology announced that the company has obtained approval from the German regulatory authorities to initiate clinical trials in Germany with SCO-101 in the PANTAX Ib study.
- On September 2, Scandion Oncology and Alligator Bioscience announced the conclusion of their collaboration with a very positive outcome.
- On September 6, Scandion Oncology announced that the company has obtained approval from the Danish Medicines Agency and the Ethics Committee of the amendment of part 2 of the CORIST Phase II study. This means that the company can commence the inclusion of patients. To increase the recruitment rate, Scandion Oncology is expanding the number of sites in Denmark from 2 to 5 and plans to further add additional sites in the EU.
- On September 7, Scandion Oncology announced that the company has strengthened its Clinical Advisory Board with three international highly experienced Key Opinion Leaders in oncology.
- On September 8, Scandion Oncology announced it will provide novel information on its lead candidate drug SCO-101 and a focused clinical strategy with a clear path to registration at its Capital Markets Day. The company will also communicate about its pipeline, future business opportunities and give an update from part 1 of the CORIST Phase II study.
Highlights after the end of the period
- November 8, Scandion Oncology announced that the timeline for read-out of the dose-finding clinical Phase Ib study PANTAX will be extended, and read-out is now expected in Q2-Q3 2022.
The third quarter report 2021 is available on the Company’s website: www.scandiononcology.com.
Audiocast today, November 18 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:
https://financialhearings.com/event/13910
REPLAY access:
Webcast replay will be available at www.scandiononcology.com in the Investors section and at www.financialhearings.com
For further information regarding Scandion Oncology A/S, please contact:
Bo Rode Hansen, President & CEO
Phone: +45 3810 2017
E-mail: info@scandiononcology.com
Website: www.scandiononcology.com
This information is information that Scandion Oncology A/S is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on November 18, 2021, at 8:30 CET
About Scandion Oncology A/S
Scandion Oncology A/S is a clinical Phase II biotechnology company currently developing first-in-class, oral add-on drugs to existing market leading anti-cancer therapies. As add-on to standard anti-cancer therapies, it introduces an effective treatment approach for cancer, which is or has become resistant to cancer-fighting drugs, offering the potential for better response rates, longer survival and improved quality of life. The first-in-class lead candidate, SCO-101, is currently in clinical Phase II. The Company is targeting cancer drug resistance in various treatment modalities including chemotherapy, anti-hormonal therapy and immunotherapy. Scandion Oncology 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.