Q2 2026 Cantargia AB Earnings Call Transcript
Key Points
- Strengthened balance sheet with SEK132 million gross proceeds from rights issue and loan facility, extending cash runway to mid-2028.
- All five evaluable patients in the high-risk MDS cohort achieved complete remission in the ongoing Phase Ib/IIa trial, a highly encouraging early signal.
- Published new scientific data in JCI Incyte validating IL1RAP as a therapeutic target and potential predictive biomarker in PDAC, strengthening competitive positioning.
- Planned Phase Ib study combining nadunolimab with daroxonresib in second-line PDAC is based on a strong mechanistic rationale, targeting complementary pathways.
- Pipeline diversification with next-generation IL-1RAP therapeutics (CANxx, CAN14) and third-party funded programs (Otsuka partnership, DoD grant) enhancing capital efficiency.
- Operating expenses decreased due to lower R&D activity, but G&A costs increased due to external contract negotiations, indicating higher administrative burden.
- The planned Phase Ib study in PDAC is not expected to initiate until Q1 2027, subject to regulatory approval and drug availability, causing potential delays.
- The company is not investing in a full diagnostic assay for patient selection, relying on retrospective measurement, which may limit future trial efficiency.
- The MDS/AML study is investigator-initiated, meaning Cantargia has limited control over enrollment pace and timelines, with completion guided to mid-2027.
- The company remains dependent on external factors such as daroxonresib approval and availability, which could constrain the start of the combination study.
Good afternoon, and welcome to Cantargia's presentation of the second quarter and first half year report for 2026. My name is Hilde Steiniger, Chief Executive Officer at Cantargia, and I'm joined today by our Chief Financial Officer, Patrik Renblad. Today, I will take you through the operational and strategic progress during the quarter, including our clinical development plans and pipeline priorities. Patrik will then present the financial results for the second quarter and the first six months of 2026 before I return with a brief summary, and we open up for questions.
The central theme of today is how Cantargia continues to build on its leadership in IL1RAP antibody development with nadunolimab as our lead oncology asset and with new opportunity emerging both in pancreatic cancer and hematologic malignancies. Next slide. Before we begin, I'd like to remind everybody that today's presentation contains forward-looking statements. These statements are subject to risks and uncertainties, and actual results may differ from those expressed or
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