Onxeo Provides Business Update and Reports First Quarter 2018 Financial Information
Development of lead product candidate, AsiDNA™, for the treatment of advanced solid tumors, progressing according to plan
- DRIIV phase I clinical trial ongoing
- Interim results expected in H2 2018
Cash position of €9.2 million at March 31, 2018, sufficient to support Company’s operations until mid-2019, including through multiple key catalysts
Paris (France), May 16, 2018 – 06:00 pm CEST – Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO FR0010095596), a biotechnology company specializing in the development of innovative drugs in oncology, notably against rare or resistant forms of cancer, today provided a business update and announced its consolidated revenues and cash position at March 31, 2018.
Judith Greciet, Chief Executive Officer of Onxeo, said: “The first quarter of 2018 was highlighted by strong momentum in the development of AsiDNA™, our lead product candidate. Following the significant efforts of our R&D team over the previous months, we recently initiated the DRIIV phase I clinical trial in order to evaluate the potential of AsiDNA™, our first-in-class DNA repair inhibitor, administered intravenously, in patients with advanced solid tumors. We expect interim data from this study to be available in the second half of 2018. If these results confirm both the safety profile of AsiDNA™ and its activity, we will have achieved a key milestone in our AsiDNA™ development program. Importantly, we continue to advance our core R&D programs according to plan while maintaining strict cost control. As such, we expect that our current cash position of €9.2 million will support our currently planned activities until mid-2019, including through multiple potentially value-creating inflection points for our company.”