Sweden's Spago Nanomedical Q2 loss widens
Sweden's Spago Nanomedical Q2 loss widens
Overview
Sweden biopharma firm's Q2 net sales were zero, with net loss slightly wider yr/yr
Company completed SEK 15 mln rights issue to fund Tumorad-01 phase I completion
Tumorad-01 study met primary endpoint of identifying maximum tolerated dose in phase I
Outlook
Company to complete phase I of Tumorad-01 and prepare for phase IIa
Spago Nanomedical to focus Tumorad development on head and neck cancer, starting with ACC
Company says continued financing for phase IIa remains a priority
Result Drivers
CLINICAL PROGRESS - Company said reaching maximum tolerated dose in Tumorad-01 study was a key milestone
TUMOR UPTAKE - Significant tumor uptake observed in head and neck cancer patients, strengthening proof-of-concept for Tumorad
FINANCING SECURED - Rights issue raised SEK 15 mln to fund completion of Tumorad-01 phase I and preparations for phase IIa
Company press release: ID:nMFN1hytV8
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 0 |
|
Q2 Adjusted Loss Per Share |
| SEK 0.01 |
|
Q2 Net Loss |
| SEK 7.33 mln |
|
Q2 Operating Expenses |
| -SEK 8.42 mln |
|
Reuters Recommended Reads
Aug 20 - Sweden's Ascelia Pharma Q2 operating loss narrows
Aug 19 - Sweden's Cantargia narrows H1 loss, raises SEK 132 mln
Aug 20 - Sweden's SynAct Pharma Q2 net loss narrows on lower expenses
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)