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

Edna B. Shearer
  • Enrollment proceeds in Section 1 dose-escalation IMMUNICY-1 demo for guide shRNA-dependent allogeneic Motor vehicle T applicant, CYAD-211, for relapsed/refractory numerous myeloma (r/r MM)

  • Dialogue continues with regulatory businesses about CYAD-101-002 Section 1b trial, which remains on scientific maintain

MONT-SAINT-GUIBERT, Belgium, Might 05, 2022–(Organization WIRE)–Regulatory News:

This replaces the announcement manufactured at 22:01 CEST on 5 May possibly because of to the pursuing corrections: Up to date ‘First Quarter 2022 Money Review’ area.

CELYAD ONCOLOGY ANNOUNCES To start with QUARTER 2022 Economic Effects AND Latest Business HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Firm”), a scientific-stage biotechnology corporation targeted on the discovery and improvement of chimeric antigen receptor T cell (Vehicle T) therapies for most cancers, now declared an update on its fiscal success and modern organization developments for the fiscal quarter finished March 31, 2022.

“The 1st quarter of 2022 introduced us both equally challenges and prospects that we are dealing with head-on. Although we keep on to examine the latest developments in the CYAD-101 Section 1b demo, we are creating terrific development with our shRNA-dependent allogeneic applications, which include CYAD-211, for which we anticipate announcing extra knowledge in the course of the next half of the yr,” commented Filippo Petti, Chief Executive Officer of the Business. “We are actually thankful for our hardworking workforce and the support of our shareholders although we progress to our milestones for the 12 months and additional improve our allogeneic Car or truck T investigational therapies with our proprietary non gene edited technologies.”

Update on Scientific and Preclinical Plans

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

CYAD-101 – Allogeneic TIM-primarily based, NKG2D Car or truck T Prospect for Metastatic Colorectal Cancer (mCRC)

  • In February 2022, the Enterprise voluntarily paused the Section 1b demo of CYAD-101 immediately after two fatalities happened that presented with very similar pulmonary results. Subsequently, in March 2022, the Company was informed by the U.S. Meals and Drug Administration that the CYAD-101-002 Stage 1b demo experienced been positioned on medical keep.

  • The Company carries on to look into these findings in the CYAD-101-002 Stage 1b trial and is evaluating any identical occasions in extra clients dealt with in the analyze, though also functioning with suitable regulatory authorities. The Organization expects to present extra updates on the trial in the foreseeable future.

shRNA Armored Automobile (shARC) Franchise

  • Study proceeds in several discovery systems centered on the co-expression of Interleukin-18 (IL-18) in conjunction with our limited hairpin RNA (shRNA) engineering platform, also acknowledged as our shARC (shRNA Armored Motor vehicle) franchise.

  • In April, the Company determined to cease the advancement of CYAD-203, an allogeneic shRNA-based mostly, IL-18-armored NKG2D Auto T prospect following the examination of preclinical knowledge from various investigational new drug software (IND)-enabling studies. The Business continues to examine back-up allogeneic NKG2D receptor Automobile T candidates currently in discovery stage that leverage the Company’s shARC platform.

Initially Quarter 2022 Economic Evaluation

As of March 31, 2022, the Firm experienced cash and hard cash equivalents of €20.5 million ($22.9 million). Net dollars melt away for the duration of the initial quarter of 2022 amounted to €9.5 million ($10.6 million), in line with expectations. The Organization confirms its earlier steerage that its current funds and hard cash equivalents, mixed with the remaining obtain to the fairness obtain agreement recognized with Lincoln Park Capital Fund, LLC, must be sufficient to fund running charges and money expenditure specifications till mid-2023.

Economic Calendar

Initially 50 percent 2022 Fiscal Effects …………………… August 5, 2022
Third Quarter 2022 Economic Effects ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a scientific-stage biotechnology enterprise concentrated on the discovery and enhancement of chimeric antigen receptor T mobile (Automobile T) therapies for most cancers. The Firm is developing a pipeline of allogeneic (off-the-shelf) and autologous (individualized) Car or truck T cell treatment candidates for the remedy of both equally hematological malignancies and strong tumors. Celyad Oncology was launched in 2007 and is dependent in Mont-Saint-Guibert, Belgium and New York, NY. The Company has obtained funding from the Walloon Location (Belgium) to aid the advancement of its Car T cell remedy plans. For more information and facts, you should check out www.celyad.com.

Forward-seeking statements

This launch incorporates forward-searching statements, inside of the that means of applicable securities legal guidelines, such as the Private Securities Litigation Reform Act of 1995, as amended. Ahead-searching statements include things like, without the need of limitation, statements about: the CYAD-101-002 trial, including the medical hold, the timing and results of extra facts from Phase 1 IMMUNICY-1 trial of CYAD-211, protection and medical activity of the solution candidates in Celyad Oncology’s pipeline, Celyad Oncology’s monetary ailment and cash runway, and expected effects of operations and business enterprise outlook. The text “may,” “may well,” “will,” “could,” “would,” “ought to,” “system,” “foresee,” “intend,” “consider,” “hope,” “estimate,” “future,” “probable,” “continue,” “concentrate on” and very similar text or expressions are intended to recognize ahead-seeking statements, although not all forward-searching statements contain these determining text. Ahead-seeking statements are based on management’s existing anticipations and may perhaps contain known and unfamiliar pitfalls and uncertainties which may lead to real results, economic problem, efficiency or achievements of Celyad Oncology to vary materially from individuals expressed or implied by these ahead-on the lookout statements. This kind of hazard and uncertainty involves, with out limitation: the timing, period and consequence of the medical hold on the CYAD-101-002 Period 1b demo, Celyad Oncology’s capacity to go on to accessibility to the equity purchase settlement with Lincoln Park Capital Fund, LLC, our fiscal and functioning results, the duration and severity of the COVID-19 pandemic, and world financial uncertainty, which include with regard to geopolitical situations and attendant sanctions ensuing from the conflict in Ukraine. A even more listing and description of these threats, uncertainties and other hazards can be observed in Celyad Oncology’s U.S. Securities and Trade Fee (SEC) filings and experiences, such as in the newest Once-a-year Report on Sort 20-F submitted with the SEC, and subsequent filings and stories of Celyad Oncology. These forward-wanting statements discuss only as of the day of publication of this doc and Celyad Oncology’s genuine results might differ materially from all those expressed or implied by these ahead-on the lookout statements. Celyad Oncology expressly disclaims any obligation to update any forward-hunting statements in this document to reflect any change in its anticipations with regard thereto or any adjust in situations, ailments or situations on which any these kinds of assertion is based mostly, except if demanded by legislation or regulation.

See source edition on businesswire.com: https://www.businesswire.com/information/residence/20220505006197/en/


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

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