Scandion Oncology (Scandion) today announces its Interim Report Q3 2024. The following is taken from the report.
Francois Martelet, CEO:
“Business development and partnering activities remains our focus and has our top priority”
Key Figures & Highlights
| TDKK | Q3 2024 | Q1-Q3 2024 | Q3 2023 | Q1-Q3 2023 | FY 2023 |
| Operating loss | -7,695 | -27,153 | -10,910 | -34,202 | -45,357 |
| Net finance income/cost | -248 | 170 | 355 | 487 | 654 |
| Loss before tax | -7,943 | -26,983 | -10,555 | -33,715 | -44,704 |
| Net loss | -6,750 | -21,483 | -10,153 | -28,215 | -39,204 |
| Total assets | 28,386 | 28,386 | 50,832 | 50,832 | 34,560 |
| Cash Position | 14,810 | 14,810 | 36,330 | 36,330 | 26,520 |
| Total equity | 23,701 | 23,701 | 42,111 | 42,111 | 31,122 |
| Equity ratio | 83% | 83% | 83% | 83% | 90% |
| Earnings per share (EPS) | -0.03 | -0.09 | -0.25 | -0.69 | -0.96 |
| Shares outstanding, ending | 231,928,544 | 231,928,544 | 40,706,972 | 40,706,972 | 40,706,972 |
Highlights during Q3 2024
- On July 1, Scandion board member Michel Ducreux stepped down due to ESMO scientific society’s guidelines prohibiting such board positions. He joined the advisory board.
- On August 16, Scandion Oncology achieved Maximum Tolerated Dose (MTD) for CORIST part 3. The established MTD for a 4-Days schedule of SCO-101 in combination with FOLFIRI was found to be 250 mg daily SCO-101, 50% irinotecan and 100% Leucovorin and 5-FU.
- On August 19, Scandion announced that the top priority following the very encouraging part 3 CORIST data is business development and partnering activities. As part of these efforts, Scandion is working together with Back Bay Life Science Advisors LLC, a prominent life sciences investment banking firm, to explore and evaluate actionable strategic and financial alternatives.
Highlights after the end of the period
- On October 31, Scandion announced that the exercise price for the warrants of series TO 2 has been determined to SEK 0,12 and that the exercise period is between November 4-18, 2024.
The Interim Report Q2 2024 is available on the Company's website: www.scandiononcology.com.
Audiocast today, November at 09:00 am CET
Today at 09:00, 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 today Monday, November 11, 2024, at 09:00 CET: https://financialhearings.com/event/48943
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 11, 2024, at 07.00 CET.
About Scandion Oncology
Scandion Oncology (Scandion) is a clinical-stage biotech company using an innovative drug efflux pump inhibition technique with biomodulation capabilities on ABCG2 and UGT1A1 targets to revert drug resistance.
Drug resistance remains a massive problem in cancer treatment and in the development of new medicines. Scandion’s lead compound SCO-101 is currently studying metastatic colorectal cancer (mCRC) in its Phase 2 CORIST trial, while the PANTAX Phase 1 program is developing SCO-101 for pancreatic cancer.
Scandion is based in Copenhagen and is listed on Nasdaq First North Growth Market Sweden (ticker: SCOL). Vator Securities is the Company's certified advisor on Nasdaq First North Growth Market