Celyad Oncology Announces First Quarter 2022 Financial Results and Recent Business Highlights

Irene L. Joffman


  • Enrollment proceeds in Period 1 dose-escalation IMMUNICY-1 demo for direct shRNA-based mostly allogeneic Motor vehicle T candidate, CYAD-211, for relapsed/refractory various myeloma (r/r MM)

  • Dialogue carries on with regulatory businesses relating to CYAD-101-002 Period 1b trial, which remains on medical hold

MONT-SAINT-GUIBERT, Belgium, Could 05, 2022–(Business WIRE)–Regulatory Information:

This replaces the announcement built at 22:01 CEST on 5 May well thanks to the pursuing corrections: Updated ‘First Quarter 2022 Money Review’ section.

CELYAD ONCOLOGY ANNOUNCES First QUARTER 2022 Monetary Benefits AND New Company HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Company”), a scientific-stage biotechnology corporation targeted on the discovery and advancement of chimeric antigen receptor T cell (Car T) therapies for cancer, nowadays introduced an update on its fiscal results and the latest business enterprise developments for the fiscal quarter finished March 31, 2022.

“The first quarter of 2022 brought us both of those issues and options that we are going through head-on. Though we continue to look into the current developments in the CYAD-101 Period 1b trial, we are producing excellent development with our shRNA-based mostly allogeneic packages, which include CYAD-211, for which we anticipate asserting extra info throughout the next 50 % of the calendar year,” commented Filippo Petti, Chief Govt Officer of the Firm. “We are genuinely thankful for our hardworking crew and the help of our shareholders though we progress towards our milestones for the year and further boost our allogeneic Auto T investigational therapies with our proprietary non gene edited systems.”

Update on Scientific and Preclinical Plans

CYAD-211 – Allogeneic shRNA-based, anti-BCMA Vehicle T prospect for r/r MM

CYAD-101 – Allogeneic TIM-primarily based, NKG2D Auto T Applicant for Metastatic Colorectal Cancer (mCRC)

  • In February 2022, the Organization voluntarily paused the Stage 1b trial of CYAD-101 right after two fatalities transpired that presented with similar pulmonary results. Subsequently, in March 2022, the Corporation was educated by the U.S. Food items and Drug Administration that the CYAD-101-002 Phase 1b demo had been placed on medical keep.

  • The Company continues to look into these conclusions in the CYAD-101-002 Period 1b trial and is assessing any identical functions in more clients dealt with in the study, when also working with proper regulatory authorities. The Organization expects to present added updates on the trial in the long term.

shRNA Armored Car or truck (shARC) Franchise

  • Study continues in various discovery programs targeted on the co-expression of Interleukin-18 (IL-18) in conjunction with our short hairpin RNA (shRNA) know-how platform, also identified as our shARC (shRNA Armored Car or truck) franchise.

  • In April, the Company determined to prevent the development of CYAD-203, an allogeneic shRNA-dependent, IL-18-armored NKG2D Motor vehicle T applicant following the examination of preclinical details from multiple investigational new drug software (IND)-enabling scientific studies. The Organization proceeds to explore back again-up allogeneic NKG2D receptor Motor vehicle T candidates now in discovery phase that leverage the Company’s shARC system.

First Quarter 2022 Monetary Critique

As of March 31, 2022, the Corporation experienced funds and income equivalents of €20.5 million ($22.9 million). Web funds burn up for the duration of the to start with quarter of 2022 amounted to €9.5 million ($10.6 million), in line with anticipations. The Corporation confirms its former steering that its existing money and money equivalents, put together with the remaining obtain to the equity invest in arrangement proven with Lincoln Park Money Fund, LLC, must be adequate to fund working charges and capital expenditure necessities right up until mid-2023.

Financial Calendar

To start with 50 percent 2022 Economic Effects …………………… August 5, 2022
3rd Quarter 2022 Financial Results ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a medical-stage biotechnology corporation focused on the discovery and advancement of chimeric antigen receptor T cell (Motor vehicle T) therapies for cancer. The Corporation is developing a pipeline of allogeneic (off-the-shelf) and autologous (personalised) Automobile T mobile remedy candidates for the treatment method of both equally hematological malignancies and good tumors. Celyad Oncology was launched in 2007 and is dependent in Mont-Saint-Guibert, Belgium and New York, NY. The Firm has been given funding from the Walloon Location (Belgium) to aid the improvement of its Motor vehicle T mobile treatment applications. For far more information, be sure to go to www.celyad.com.

Forward-seeking statements

This release contains forward-searching statements, within the this means of applicable securities rules, which include the Private Securities Litigation Reform Act of 1995, as amended. Forward-seeking statements incorporate, without the need of limitation, statements regarding: the CYAD-101-002 trial, including the medical hold, the timing and results of supplemental details from Section 1 IMMUNICY-1 trial of CYAD-211, security and medical activity of the item candidates in Celyad Oncology’s pipeline, Celyad Oncology’s money affliction and cash runway, and expected outcomes of operations and small business outlook. The words and phrases “might,” “may possibly,” “will,” “could,” “would,” “should,” “system,” “anticipate,” “intend,” “think,” “be expecting,” “estimate,” “upcoming,” “possible,” “proceed,” “target” and similar terms or expressions are meant to identify forward-seeking statements, even though not all ahead-on the lookout statements comprise these pinpointing phrases. Ahead-looking statements are based mostly on management’s present-day anticipations and could involve regarded and unknown pitfalls and uncertainties which may well trigger actual success, economical affliction, general performance or achievements of Celyad Oncology to vary materially from individuals expressed or implied by this kind of forward-on the lookout statements. Such possibility and uncertainty consists of, with out limitation: the timing, period and result of the medical hold on the CYAD-101-002 Stage 1b demo, Celyad Oncology’s means to keep on to obtain to the equity acquire arrangement with Lincoln Park Funds Fund, LLC, our fiscal and operating benefits, the period and severity of the COVID-19 pandemic, and international financial uncertainty, together with with respect to geopolitical problems and attendant sanctions ensuing from the conflict in Ukraine. A additional checklist and description of these hazards, uncertainties and other hazards can be uncovered in Celyad Oncology’s U.S. Securities and Trade Commission (SEC) filings and reports, together with in the most up-to-date Yearly Report on Form 20-F submitted with the SEC, and subsequent filings and reviews of Celyad Oncology. These forward-hunting statements talk only as of the date of publication of this document and Celyad Oncology’s precise final results may well differ materially from those expressed or implied by these ahead-looking statements. Celyad Oncology expressly disclaims any obligation to update any forward-looking statements in this document to replicate any modify in its expectations with regard thereto or any transform in gatherings, circumstances or situations on which any these statement is based, except essential by legislation or regulation.

Look at resource model on businesswire.com: https://www.businesswire.com/news/household/20220505006197/en/

Contacts

Traders and Media:
Sara Zelkovic
Communications & Trader Relations Director
Celyad Oncology
[email protected]



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