4SC provides Q2 2021 and H1 2021 update
Planegg-Martinsried, Germany, 10 August 2021 – 4SC AG (4SC, FSE Prime Standard: VSC) today published its Half-Year Report 2021, presenting all material developments up to 30 June 2021 and the Company’s current outlook. The full communication is available for download on 4SC’s website.
Jason Loveridge, Ph.D., CEO of 4SC, commented: “In the second quarter of 2021 we saw the RESMAIN study for resminostat progress to the point where we are increasingly confident on completing recruitment in 2021, which would be a major milestone for 4SC, and as this is one of the largest studies in cutaneous T-cell lymphoma ever conducted raises expectations for seeing a – hopefully – positive outcome in 2022. In addition, we have had a very busy quarter for our domatinostat program as we advance a number of new studies in both Merkel cell and urothelial carcinoma to the cusp of recruiting the first patient. Our cash position remains strong, and we are looking forward to meeting our overall goals for 2021 during the second half of the year”.
Key highlight in Q2 2021
- Published updated data from the SENSITIZE study at ASCO 2021
2021 Business outlook
- Publish key data from the DONIMI investigator sponsored neoadjuvant melanoma study at ESMO 2021
- Expand the phase IIb EMERGE investigator sponsored study to 19 microsatellite-stable gastrointestinal cancer patients
- MERKLIN 1 – first checkpoint naïve Merkel cell carcinoma patient recruited in Q3 2021
- TURANDOT – investigator sponsored neoadjuvant urothelial carcinoma study – first patient recruited Q3 2021
- Complete recruitment in the pivotal RESMAIN study
Development of cash balance in H1 2021 and financial forecast
At the end of the first half year of 2021, 4SC holds cash balance/funds of €36.545 million as compared to €36.203 million as of 31 December 2020. The monthly use of cash from operations amounted to €0.943 million on average in the first half year of 2021 (H1 2020: €1.593 million) and was below the range of €1.0 million to €1.5 million forecast for 2021.
The decrease in the monthly use of cash as compared to H1 2020, and the increase in cash balance/funds in the first half year of 2021 as compared to the end of 2020, were both predominantly due to the transaction with Immunic in the first quarter 2021.
The Management Board of 4SC assumes that the funds should be sufficient to finance 4SC into the second half of 2022.
4SC AG 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 and domatinostat.
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 48 employees as of 30 June 2021 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A3E5C40).
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.