Cantargia AB today announced new preclinical results strengthening the development plan of the antibody CAN10 for treatment of myocarditis and systemic sclerosis. In preclinical studies of myocarditis, CAN10 significantly counteracted disease development. CAN10 also potently decreased inflammatory disease in other models used to investigate the CAN10 mechanism of action. The first toxicology study, investigating single dose treatment of CAN10 up to 50 mg/kg, did not identify any safety signals.

Cantargia AB today announced the submission of a clinical trial application investigating antibody CAN04 in combination with FOLFIRINOX for first line treatment of metastatic pancreatic cancer (PDAC). The trial is designed to complement the ongoing clinical program and subsequently broaden the development of CAN04. The phase Ib trial is planned to be performed in up to 30 patients in France and Spain. The current estimate is to start therapy in the first patient in the end of Q2 2021.

Cantargia stands well equipped for a successful 2021, in our view. The Q4 report offered few surprises and the promising interim results for CANFOUR provide a good outlook for further positive data generation. The strong cash balance also puts the company in a good position when negotiating potential commercial partnership agreements. We make no estimate revisions following the report but increase our DCF-based valuation range to SEK 54-59 (48-54) per share.

Cantargia AB will publish the company's Full Year Report for the period January - December 2020 on Thursday, February 25, 2021, at 08.30 a.m. CET.