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

  • Enrollment carries on in Section 1 dose-escalation IMMUNICY-1 demo for guide shRNA-based mostly allogeneic Automobile T candidate, CYAD-211, for relapsed/refractory several myeloma (r/r MM)

  • Dialogue proceeds with regulatory agencies about CYAD-101-002 Period 1b trial, which remains on clinical hold

MONT-SAINT-GUIBERT, Belgium, Might 05, 2022–(Business enterprise WIRE)–Regulatory Information:

This replaces the announcement manufactured at 22:01 CEST on 5 May well thanks to the following corrections: Up-to-date ‘First Quarter 2022 Financial Review’ section.

CELYAD ONCOLOGY ANNOUNCES First QUARTER 2022 Economical Success AND Recent Enterprise HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Enterprise”), a scientific-stage biotechnology enterprise targeted on the discovery and improvement of chimeric antigen receptor T mobile (Automobile T) therapies for most cancers, nowadays introduced an update on its economic results and recent business enterprise developments for the fiscal quarter ended March 31, 2022.

“The very first quarter of 2022 introduced us both of those worries and alternatives that we are going through head-on. While we go on to look into the latest developments in the CYAD-101 Phase 1b demo, we are making good development with our shRNA-based allogeneic courses, including CYAD-211, for which we foresee asserting extra data throughout the second half of the yr,” commented Filippo Petti, Chief Executive Officer of the Corporation. “We are genuinely thankful for our hardworking staff and the help of our shareholders even though we advance in the direction of our milestones for the 12 months and further more boost our allogeneic Car T investigational therapies with our proprietary non gene edited systems.”

Update on Medical and Preclinical Plans

CYAD-211 – Allogeneic shRNA-centered, anti-BCMA Car T candidate for r/r MM

CYAD-101 – Allogeneic TIM-based, NKG2D Vehicle T Applicant for Metastatic Colorectal Most cancers (mCRC)

  • In February 2022, the Organization voluntarily paused the Phase 1b demo of CYAD-101 just after two fatalities occurred that introduced with comparable pulmonary findings. Subsequently, in March 2022, the Business was knowledgeable by the U.S. Food and Drug Administration that the CYAD-101-002 Stage 1b trial had been positioned on scientific hold.

  • The Business proceeds to examine these findings in the CYAD-101-002 Section 1b demo and is assessing any very similar occasions in extra sufferers treated in the analyze, though also doing work with appropriate regulatory authorities. The Enterprise expects to supply added updates on the demo in the foreseeable future.

shRNA Armored Vehicle (shARC) Franchise

  • Analysis continues in many discovery courses targeted on the co-expression of Interleukin-18 (IL-18) in conjunction with our shorter hairpin RNA (shRNA) technological know-how system, also acknowledged as our shARC (shRNA Armored Motor vehicle) franchise.

  • In April, the Firm made a decision to prevent the enhancement of CYAD-203, an allogeneic shRNA-primarily based, IL-18-armored NKG2D Automobile T prospect next the analysis of preclinical details from numerous investigational new drug software (IND)-enabling scientific studies. The Organization proceeds to discover again-up allogeneic NKG2D receptor Motor vehicle T candidates presently in discovery phase that leverage the Company’s shARC platform.

1st Quarter 2022 Financial Assessment

As of March 31, 2022, the Company had money and cash equivalents of €20.5 million ($22.9 million). Web money burn up all through the 1st quarter of 2022 amounted to €9.5 million ($10.6 million), in line with expectations. The Organization confirms its preceding steerage that its existing dollars and cash equivalents, put together with the remaining accessibility to the fairness acquire agreement established with Lincoln Park Capital Fund, LLC, should really be adequate to fund operating charges and money expenditure needs till mid-2023.

Money Calendar

To start with 50 % 2022 Economical Benefits …………………… August 5, 2022
Third Quarter 2022 Financial Effects ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a scientific-phase biotechnology firm centered on the discovery and advancement of chimeric antigen receptor T cell (Motor vehicle T) therapies for cancer. The Company is establishing a pipeline of allogeneic (off-the-shelf) and autologous (customized) Auto T mobile therapy candidates for the procedure of both of those hematological malignancies and sound tumors. Celyad Oncology was established in 2007 and is based in Mont-Saint-Guibert, Belgium and New York, NY. The Firm has received funding from the Walloon Region (Belgium) to help the improvement of its Vehicle T cell treatment plans. For additional info, remember to check out www.celyad.com.

Ahead-wanting statements

This release consists of ahead-seeking statements, inside of the that means of applicable securities regulations, which include the Non-public Securities Litigation Reform Act of 1995, as amended. Forward-hunting statements include things like, without having limitation, statements concerning: the CYAD-101-002 demo, which includes the clinical keep, the timing and outcomes of more info from Period 1 IMMUNICY-1 demo of CYAD-211, safety and scientific action of the product candidates in Celyad Oncology’s pipeline, Celyad Oncology’s economical condition and income runway, and envisioned effects of functions and enterprise outlook. The terms “may,” “could,” “will,” “could,” “would,” “should,” “strategy,” “foresee,” “intend,” “imagine,” “hope,” “estimate,” “upcoming,” “opportunity,” “keep on,” “goal” and comparable words and phrases or expressions are supposed to establish forward-searching statements, though not all ahead-wanting statements comprise these figuring out words and phrases. Forward-looking statements are based on management’s latest expectations and may include recognised and not known dangers and uncertainties which may possibly trigger real effects, fiscal ailment, efficiency or achievements of Celyad Oncology to vary materially from people expressed or implied by these kinds of forward-searching statements. These kinds of chance and uncertainty incorporates, without the need of limitation: the timing, length and final result of the medical hold on the CYAD-101-002 Period 1b demo, Celyad Oncology’s skill to carry on to access to the fairness obtain arrangement with Lincoln Park Capital Fund, LLC, our money and working benefits, the period and severity of the COVID-19 pandemic, and worldwide economic uncertainty, together with with regard to geopolitical ailments and attendant sanctions resulting from the conflict in Ukraine. A additional checklist and description of these challenges, uncertainties and other pitfalls can be observed in Celyad Oncology’s U.S. Securities and Trade Commission (SEC) filings and reviews, which includes in the latest Once-a-year Report on Variety 20-F filed with the SEC, and subsequent filings and reviews of Celyad Oncology. These ahead-wanting statements talk only as of the date of publication of this doc and Celyad Oncology’s genuine effects may perhaps differ materially from people expressed or implied by these forward-looking statements. Celyad Oncology expressly disclaims any obligation to update any forward-seeking statements in this document to reflect any alter in its anticipations with regard thereto or any transform in activities, problems or situations on which any these assertion is centered, except necessary by regulation or regulation.

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Contacts

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