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On 20 October 2018, Cantargia presented interim data from part I of its Phase I/IIa CANFOUR trial with nidanilimab (IL1RAP antibody) at the ESMO congress in Munich, Germany, demonstrating a good safety/tolerability profile so far. The maximum tolerated dose has not been reached and so a final dose (10mg/kg) cohort is being recruited. The Phase IIa part of the study is expected to start in Q418 as planned. Meanwhile, on 25 September Cantargia’s shares were up-listed to the Nasdaq Stockholm main market, which will expose the company to a wider investment community. Our valuation is virtually unchanged at SEK1.80bn or SEK27.2/share with the success probability rate subject to revision once the final Phase I data are published in Q418.

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