Scandion Oncology (Scandion) today announces its interim report for Q2 2023. The following is taken from the report.
Francois Martelet, CEO:
“A successful patent application puts us on the brink of having almost 20 years of exclusivity on our lead compound SCO-101”
Key Figures & Highlights
| TDKK | Q2 2023 | Q1-Q2 2023 | Q2 2022 | Q1-Q2 2022 | FY 2022 |
| Operating loss | -11,318 | -23,292 | -24,840 | -41,152 | -80,166 |
| Net finance income/cost | 66 | 131 | -37 | -288 | -2,034 |
| Loss before tax | -11,253 | -23,160 | -24,877 | -41,440 | -82,200 |
| Net loss | -8,774 | -18,062 | -23,021 | -35,940 | -76,700 |
| Total assets | 60,186 | 60,186 | 87,728 | 87,728 | 89,401 |
| Cash Position | 45,709 | 45,709 | 72,667 | 72,667 | 77,605 |
| Total equity | 52,265 | 52,265 | 67,769 | 67,769 | 70,327 |
| Equity ratio | 87% | 87% | 77% | 77% | 79% |
| Earnings per share (EPS) | -0.22 | -0.57 | -0.72 | -1.12 | -1.88 |
| Shares outstanding, ending | 40,706,972 | 40,706,972 | 32,135,544 | 32,135,544 | 40,706,972 |
Highlights during Q2 2023
- On April 26 Scandion announced results of the Annual General Meeting.
Highlights after the end of the period
- On July 18, The European Patent Office announced intention to grant of Composition-of-Matter patent for Scandion Oncology’s lead compound SCO-101. If granted, the patent will cover the commercial solid form of SCO-101 until at least 2042.
- On August 17, Data from PANTAX trial to be presented at ESMO Congress 2023.
The interim report Q2 2023 is available on the Company's website: www.scandiononcology.com.
Audiocast today, August 23 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:
LIVE access on Wednesday August 23, 2023, at 10:00 CET: https://financialhearings.com/event/46155
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 August 23, 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 due to cancer drug resistance. Our medicines could be relevant in several different cancers. That 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.