September 26, 2022

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

5 min read
  • Enrollment carries on in Period 1 dose-escalation IMMUNICY-1 trial for guide shRNA-centered allogeneic Car or truck T applicant, CYAD-211, for relapsed/refractory many myeloma (r/r MM)

  • Dialogue carries on with regulatory businesses about CYAD-101-002 Period 1b demo, which stays on medical hold

MONT-SAINT-GUIBERT, Belgium, May possibly 05, 2022–(Small business WIRE)–Regulatory Information:

This replaces the announcement built at 22:01 CEST on 5 Could thanks to the adhering to corrections: Current ‘First Quarter 2022 Economic Review’ section.

CELYAD ONCOLOGY ANNOUNCES To start with QUARTER 2022 Financial Final results AND Recent Business HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Organization”), a medical-phase biotechnology corporation centered on the discovery and advancement of chimeric antigen receptor T cell (Auto T) therapies for cancer, right now announced an update on its money effects and recent enterprise developments for the fiscal quarter finished March 31, 2022.

“The very first quarter of 2022 brought us the two issues and chances that we are dealing with head-on. Whilst we continue on to look into the current developments in the CYAD-101 Period 1b demo, we are building great development with our shRNA-centered allogeneic systems, including CYAD-211, for which we anticipate announcing further info throughout the 2nd fifty percent of the 12 months,” commented Filippo Petti, Chief Executive Officer of the Business. “We are definitely grateful for our hardworking staff and the guidance of our shareholders even though we progress towards our milestones for the yr and further more greatly enhance our allogeneic Auto T investigational therapies with our proprietary non gene edited systems.”

Update on Medical and Preclinical Systems

CYAD-211 – Allogeneic shRNA-based mostly, anti-BCMA Auto T applicant for r/r MM

CYAD-101 – Allogeneic TIM-based, NKG2D Vehicle T Prospect for Metastatic Colorectal Cancer (mCRC)

  • In February 2022, the Firm voluntarily paused the Phase 1b demo of CYAD-101 following two fatalities occurred that introduced with similar pulmonary conclusions. Subsequently, in March 2022, the Enterprise was knowledgeable by the U.S. Foodstuff and Drug Administration that the CYAD-101-002 Section 1b demo experienced been placed on medical keep.

  • The Corporation carries on to examine these conclusions in the CYAD-101-002 Stage 1b demo and is assessing any similar activities in more sufferers taken care of in the analyze, whilst also doing the job with proper regulatory authorities. The Enterprise expects to deliver extra updates on the trial in the long term.

shRNA Armored Motor vehicle (shARC) Franchise

  • Exploration carries on in various discovery systems concentrated on the co-expression of Interleukin-18 (IL-18) in conjunction with our small hairpin RNA (shRNA) technological innovation system, also acknowledged as our shARC (shRNA Armored Vehicle) franchise.

  • In April, the Firm determined to stop the growth of CYAD-203, an allogeneic shRNA-dependent, IL-18-armored NKG2D Auto T prospect following the assessment of preclinical information from various investigational new drug application (IND)-enabling scientific tests. The Firm continues to take a look at again-up allogeneic NKG2D receptor Car T candidates at the moment in discovery stage that leverage the Company’s shARC system.

Initially Quarter 2022 Economic Review

As of March 31, 2022, the Corporation had money and money equivalents of €20.5 million ($22.9 million). Net cash melt away through the very first quarter of 2022 amounted to €9.5 million ($10.6 million), in line with expectations. The Business confirms its former guidance that its present money and cash equivalents, blended with the remaining accessibility to the equity obtain agreement set up with Lincoln Park Capital Fund, LLC, need to be sufficient to fund functioning charges and capital expenditure needs till mid-2023.

Monetary Calendar

To start with Half 2022 Financial Final results …………………… August 5, 2022
3rd Quarter 2022 Monetary Benefits ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a medical-phase biotechnology organization targeted on the discovery and growth of chimeric antigen receptor T cell (Vehicle T) therapies for cancer. The Firm is acquiring a pipeline of allogeneic (off-the-shelf) and autologous (personalised) Automobile T mobile therapy candidates for the treatment of both equally hematological malignancies and reliable tumors. Celyad Oncology was started in 2007 and is dependent in Mont-Saint-Guibert, Belgium and New York, NY. The Company has acquired funding from the Walloon Location (Belgium) to support the advancement of its Motor vehicle T cell therapy systems. For extra details, you should go to www.celyad.com.

Forward-searching statements

This launch incorporates forward-on the lookout statements, in just the this means of applicable securities regulations, which includes the Personal Securities Litigation Reform Act of 1995, as amended. Ahead-looking statements incorporate, without the need of limitation, statements about: the CYAD-101-002 trial, like the scientific keep, the timing and results of further details from Period 1 IMMUNICY-1 trial of CYAD-211, safety and medical activity of the products candidates in Celyad Oncology’s pipeline, Celyad Oncology’s financial affliction and income runway, and expected results of functions and small business outlook. The phrases “may perhaps,” “could,” “will,” “could,” “would,” “ought to,” “prepare,” “anticipate,” “intend,” “imagine,” “hope,” “estimate,” “future,” “possible,” “proceed,” “target” and equivalent terms or expressions are intended to discover ahead-looking statements, while not all ahead-searching statements have these determining words. Ahead-searching statements are based mostly on management’s present expectations and may well include recognised and mysterious challenges and uncertainties which may induce genuine outcomes, economic issue, functionality or achievements of Celyad Oncology to differ materially from all those expressed or implied by these kinds of ahead-hunting statements. These kinds of threat and uncertainty contains, without limitation: the timing, period and result of the medical keep on the CYAD-101-002 Period 1b trial, Celyad Oncology’s means to continue on to accessibility to the fairness obtain settlement with Lincoln Park Money Fund, LLC, our fiscal and running benefits, the length and severity of the COVID-19 pandemic, and world wide financial uncertainty, which include with regard to geopolitical ailments and attendant sanctions ensuing from the conflict in Ukraine. A further record and description of these threats, uncertainties and other hazards can be found in Celyad Oncology’s U.S. Securities and Exchange Commission (SEC) filings and studies, together with in the hottest Once-a-year Report on Kind 20-F submitted with the SEC, and subsequent filings and reviews of Celyad Oncology. These forward-hunting statements speak only as of the day of publication of this doc and Celyad Oncology’s precise final results may vary materially from all those expressed or implied by these forward-wanting statements. Celyad Oncology expressly disclaims any obligation to update any forward-searching statements in this document to reflect any improve in its expectations with regard thereto or any change in functions, circumstances or instances on which any these types of statement is based, unless expected by law or regulation.

Watch resource version on businesswire.com: https://www.businesswire.com/information/residence/20220505006197/en/

Contacts

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

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