“I started my tenure as interim CEO with a strong focus on looking to deliver at least one transformative transaction during 2025. I am delighted for all Cantargia’s stakeholders, including our loyal shareholders, our employees and patients in need, that we have been able to deliver on this goal with the Otsuka agreement. Not only does the deal bring significant non-dilutive financial resources but, equally importantly, it provides clear validation of Cantargia’s technology and platform. Cantargia is now on a solid footing and our next important task is to prioritize those programs and activities on which we will focus our resources going forward.” said Damian Marron, Interim CEO of Cantargia.

Significant events in the second quarter

• Cantargia appointed Morten Lind Jensen as Chief Medical Officer.
• Treatment resistant atopic dermatitis (AD) was selected as second indication for CAN10’s phase 2 program.
• Pharmacokinetic modelling confirmed the choice of Q4W dosing in phase 2 for CAN10.
• US FDA awarded nadunolimab Fast Track Designation.
• Cantargia signed a loan facility of SEK 50 million.

Significant events after the end of the period

• Otsuka Pharmaceuticals acquired CAN10 for an upfront of MUSD 33 plus an additional MUSD 580 in potential milestone payments and up to double digit earn-outs on future sales. The deal is expected to close in Q3 2025.
• Preliminary results from the TRIFOUR phase 2 study in TNBC did not demonstrate a difference in overall response rate (ORR) between nadunolimab in combination with chemotherapy vs. chemotherapy alone.
• Cantargia appointed Dr Hilde H. Steineger as new CEO effective from September 1, 2025.

Financial information

Second quarter 2025 (April 1 – June 30)

• Net sales: SEK 0.0 M (0.0)
• Operating loss: SEK -39.5 M (-43.8)
• Loss after tax: SEK -39.3 M (-43.3)
• Loss per share, before and after dilution: SEK -0.16 (-0.24)

First six months of 2025 (January 1 – June 30)

• Net sales: SEK 0.0 M (0.0)
• Operating loss: SEK -84.5 M (-85.5)
• Loss after tax: SEK -86.2 M (-80.2)
• Loss per share: before and after dilution, SEK -0.35 (-0.44)
• Equity/assets ratio: 34 (74) per cent
• Cash and cash equivalents: SEK 81.9 M (84.7)
• Short-term investments: SEK 0.0 M (20.0)

In conjunction to the report, Cantargia invites investors, analysts, and media to an audiocast with teleconference on August 21, at 3:00 p.m. CEST, where Cantargia’s interim CEO Damian Marron, CBO Ton Berkien, and CFO Patrik Renblad, will present Cantargia and comment on the report, followed by a Q&A-session.

If you wish to participate via audiocast, please use the link below. Via the web session you will be able to ask written questions. Webcast: https://cantargia.events.inderes.com/q2-report-2025.

If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/cantargia/q2-report-2025/dial-in.
The webcast will also be available on demand on Cantargia’s corporate website: www.cantargia.com