Brief: Celyad Oncology End-Sept Cash And Cash Equivalents Of 13.4 Million Euros

Celyad Oncology SA

10/11/2022 07:15

Nov 10 (Reuters) - Celyad Oncology SA  CYAD.BR :
    * CELYAD ONCOLOGY ANNOUNCES THIRD QUARTER 2022 FINANCIAL
RESULTS
AND RECENT BUSINESS HIGHLIGHTS
    * COMPANY CONTINUES TO TRANSITION BUSINESS FOCUS TO
MONETIZING
UNIQUE CELL THERAPY INTELLECTUAL PROPERTY AND PRIORITIZING
RESEARCH AND DEVELOPMENT DISCOVERY
    * CLINICAL UPDATES EXPECTED BY END OF YEAR FOR PHASE 1
DOSE-ESCALATION IMMUNICY-1 TRIAL FOR LEAD SHRNA-BASED ALLOGENEIC
CAR T CANDIDATE, CYAD-211, FOR RELAPSED/REFRACTORY MULTIPLE
MYELOMA (R/R MM)
    * AS OF SEPTEMBER 30, 2022, COMPANY HAD CASH AND CASH
EQUIVALENTS
OF EUR 13.4 MILLION ($13.1 MILLION)
    * NET CASH BURN DURING Q1 OF 2022 AMOUNTED TO EUR 1.0
MILLION
($1.0 MILLION), IN LINE WITH EXPECTATIONS
    * CONFIRMS ITS PREVIOUS GUIDANCE THAT ITS EXISTING CASH AND
CASH
EQUIVALENTS SHOULD BE SUFFICIENT TO FUND OPERATING EXPENSES AND
CAPITAL EXPENDITURE REQUIREMENTS UP TO MID-2023
    * GUIDANCE DOES NOT INCLUDE ANY POTENTIAL PROCEEDS FROM
EQUITY
PURCHASE AGREEMENT ESTABLISHED WITH LINCOLN PARK CAPITAL FUND,
LLC
    * CONTINUES TO PROJECT THAT ITS EXISTING CASH AND CASH
EQUIVALENTS
WILL NOT BE SUFFICIENT TO FUND ITS ESTIMATED OPERATING AND
CAPITAL EXPENDITURES OVER AT LEAST NEXT 12 MONTHS FROM DATE THAT
RELEASE IS ISSUED

Source text for Eikon:  ID:nBw9YmR0Ca 
Further company coverage:  CYAD.BR 
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