Cantargia: Commissioned research - Nordea

Cantargia presented positive interim data at the American Society of Clinical Oncology (ASCO) 2022 the past weekend. This data was related to its lead candidate nadunolimab (CAN04) in the studies CANFOUR and CIRIFOUR. In our view, the highlight from the data presented was the extended interim analysis in PDAC which showed encouraging interim results in a sufficiently larger sample group than in the last interim readout. While this data is positive for the outlook in this indication, we make no revisions in our estimates for its likelihood of approval since we have already fine-tuned an uplift along in the Q4 update as Cantargia signed the partnership with PanCAN in January to start the phase 2/3 trial Precision Promise. The interim CANFOUR data in NSCLC were also pointing at more positive results to come, but similar to the CIRIFOUR data, we believe that these are too immature to draw any meaningful conclusions from. Overall, we believe the interim results from ASCO added positive addition to Cantargia’s data package which is favourable in negotiating any new partnerships ahead.