PTA-News: 4SC AG: 4SC provides Q3 highlights and financial forecast

Tuesday, 19. October 2021 07:30

Business news for the stock market

Planegg-Martinsried (pta008/19.10.2021/07:30) - 4SC AG (4SC, FSE Prime Standard: VSC) today provided a business update for the three months ended 30 September 2021, as well as its current outlook. The full report is available for download on 4SC’s website ( https://www.4sc.com/investors/investor-information/financial-reports/).

Key highlights of Q3 2021

* 185 patients were enrolled into the pivotal RESMAIN study
* 18 patients were enrolled into the pivotal MERKLIN 2 study
* The first patients were recruited into the TURANDOT study
* Data from the DONIMI study was presented at the ESMO Congress of the European Society of Medical Oncology

Cash balance development in Q3 2021 and financial forecast

As of 30 September 2021, 4SC holds cash balance/funds of €32,381 thousand as compared to €36,545 thousand as of 30 June 2021.

The average monthly use of cash from operations amounted to €918 thousand on average in the first nine months of 2021 (9M 2020: €1,172 thousand). Excluding the cash contribution received from the transaction with Immunic signed in Q1 2021, the average monthly use of cash from operating activities was €1,731 thousand.

The decrease of cash funds in the first nine months of 2021 is mainly a result of the expenditures for the ongoing clinical study RESMAIN as well as for the expansion of the clinical program for domatinostat, particularly in MCC.

Based on current financial and operating activities and taking into account the additional funds provided by the settlement agreement with Immunic in the first half-year 2021, the Manage­ment Board of 4SC estimates that current funds should be sufficient to finance 4SC into the second half of 2022.

- Press release ends -

Further information

About 4SC

4SC AG ( http://www.4SC.com) is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs. 4SC’s pipeline is protected by a comprehensive portfolio of patents and currently comprises two drug candidates in clinical development: resminostat ( http://www.4sc.com/product-pipeline/resminostat/) and domatinostat ( http://www.4sc.com/product-pipeline/4sc-202/).

4SC aims to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself.

4SC is headquartered in Planegg-Martinsried near Munich, Germany. The Company had 49 employees as of 30 September 2021 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A3E5C40).

Forward-looking information

Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond 4SC’s control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact

ir-pr@4sc.com (mailto:ir-pr@4sc.com)
+49 89 700763-0

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emitter: 4SC AG
address: Fraunhoferstr. 22, 82152 Planegg-Martinsried
country: Germany
contact person: 4SC AG
phone: +49 89 700763-0
e-mail: ir-pr@4sc.com
website: www.4sc.de

ISIN(s): DE000A3E5C40 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf; open market in Berlin, Tradegate

[ source: http://www.pressetext.com/news/20211019008 ]

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