Scandion Oncology (Scandion) today announces its interim report for Q3 2023. The following is taken from the report.
Francois Martelet, CEO:
“We have completed patient enrollment to the CORIST part 3 trial and are very encouraged by new data from part 2 of the trial showing very positive results on overall survival and several patients with tumor reductions”
Key Figures & Highlights
| TDKK | Q3 2023 | Q1-Q3 2023 | Q3 2022 | Q1-Q3 2022 | FY 2022 |
| Operating loss | -10,910 | -34,202 | -23,626 | -64,778 | -80,166 |
| Net finance income/cost | 355 | 487 | -1,447 | -1,735 | -2,034 |
| Loss before tax | -10,555 | -33,715 | -25,073 | -66,513 | -82,200 |
| Net loss | -10,153 | -28,215 | -25,073 | -61,013 | -76,700 |
| Total assets | 50,832 | 50,832 | 106,474 | 106,474 | 89,401 |
| Cash Position | 36,330 | 36,330 | 91,362 | 91,362 | 77,605 |
| Total equity | 42,111 | 42,111 | 85,612 | 85,612 | 70,327 |
| Equity ratio | 83% | 83% | 80% | 80% | 79% |
| Earnings per share (EPS) | -0.25 | -0.69 | -0.62 | -1.50 | -1.88 |
| Shares outstanding, ending | 40,706,972 | 40,706,972 | 40,706,972 | 40,706,972 | 40,706,972 |
Highlights during Q3 2023
- 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.
- On September 12, Scandion Oncology appoints Lars Damstrup, MD, PHD, as new Chief Medical Officer.
Highlights after the end of the period
- 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.
The interim report Q3 2023 is available on the Company's website: www.scandiononcology.com.
Audiocast today, November 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:
LIVE access on Wednesday November 22, 2023, at 10:00 CET: https://financialhearings.com/event/46156
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 November 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 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.