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

  • Enrollment carries on in Section 1 dose-escalation IMMUNICY-1 trial for lead shRNA-based allogeneic Vehicle T prospect, CYAD-211, for relapsed/refractory a number of myeloma (r/r MM)

  • Dialogue proceeds with regulatory businesses relating to CYAD-101-002 Stage 1b trial, which stays on clinical keep

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

This replaces the announcement built at 22:01 CEST on 5 May well thanks to the subsequent corrections: Current ‘First Quarter 2022 Money Review’ segment.

CELYAD ONCOLOGY ANNOUNCES 1st QUARTER 2022 Economical Effects AND Latest Small business HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Firm”), a scientific-stage biotechnology business targeted on the discovery and advancement of chimeric antigen receptor T mobile (Vehicle T) therapies for most cancers, currently declared an update on its financial final results and latest enterprise developments for the fiscal quarter ended March 31, 2022.

“The initial quarter of 2022 introduced us the two issues and alternatives that we are dealing with head-on. When we go on to investigate the new developments in the CYAD-101 Phase 1b trial, we are producing fantastic progress with our shRNA-centered allogeneic packages, including CYAD-211, for which we anticipate saying supplemental information throughout the 2nd 50 % of the 12 months,” commented Filippo Petti, Chief Government Officer of the Business. “We are genuinely thankful for our hardworking crew and the support of our shareholders while we progress in direction of our milestones for the calendar year and further enrich our allogeneic Auto T investigational therapies with our proprietary non gene edited technologies.”

Update on Scientific and Preclinical Packages

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

CYAD-101 – Allogeneic TIM-centered, NKG2D Motor vehicle T Prospect for Metastatic Colorectal Cancer (mCRC)

  • In February 2022, the Business voluntarily paused the Section 1b trial of CYAD-101 just after two fatalities transpired that introduced with similar pulmonary findings. Subsequently, in March 2022, the Organization was informed by the U.S. Meals and Drug Administration that the CYAD-101-002 Phase 1b demo had been placed on medical hold.

  • The Company proceeds to investigate these conclusions in the CYAD-101-002 Phase 1b trial and is analyzing any similar activities in supplemental patients handled in the review, whilst also doing the job with ideal regulatory authorities. The Firm expects to provide additional updates on the trial in the foreseeable future.

shRNA Armored Car (shARC) Franchise

  • Investigation carries on in various discovery programs focused on the co-expression of Interleukin-18 (IL-18) in conjunction with our brief hairpin RNA (shRNA) technology platform, also recognized as our shARC (shRNA Armored Auto) franchise.

  • In April, the Corporation decided to halt the enhancement of CYAD-203, an allogeneic shRNA-based mostly, IL-18-armored NKG2D Car T candidate subsequent the examination of preclinical knowledge from several investigational new drug software (IND)-enabling research. The Corporation carries on to discover back-up allogeneic NKG2D receptor Car T candidates presently in discovery stage that leverage the Company’s shARC system.

Initial Quarter 2022 Economical Overview

As of March 31, 2022, the Company experienced dollars and cash equivalents of €20.5 million ($22.9 million). Web income burn off through the to start with quarter of 2022 amounted to €9.5 million ($10.6 million), in line with expectations. The Corporation confirms its earlier direction that its existing hard cash and money equivalents, combined with the remaining access to the fairness acquire arrangement founded with Lincoln Park Cash Fund, LLC, should be ample to fund running costs and cash expenditure requirements until mid-2023.

Economical Calendar

Initial Fifty percent 2022 Monetary Results …………………… August 5, 2022
Third Quarter 2022 Money Outcomes ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a medical-stage biotechnology company targeted on the discovery and progress of chimeric antigen receptor T mobile (Car T) therapies for most cancers. The Organization is producing a pipeline of allogeneic (off-the-shelf) and autologous (individualized) Automobile T cell therapy candidates for the treatment method of both equally hematological malignancies and sound tumors. Celyad Oncology was founded in 2007 and is based mostly in Mont-Saint-Guibert, Belgium and New York, NY. The Organization has obtained funding from the Walloon Region (Belgium) to aid the development of its Auto T mobile therapy programs. For additional info, you should pay a visit to www.celyad.com.

Forward-wanting statements

This launch incorporates ahead-looking statements, inside the this means of relevant securities legislation, such as the Non-public Securities Litigation Reform Act of 1995, as amended. Forward-wanting statements include things like, devoid of limitation, statements with regards to: the CYAD-101-002 trial, like the scientific maintain, the timing and results of additional knowledge from Section 1 IMMUNICY-1 trial of CYAD-211, security and scientific activity of the item candidates in Celyad Oncology’s pipeline, Celyad Oncology’s financial situation and hard cash runway, and predicted outcomes of functions and business outlook. The words and phrases “may possibly,” “might,” “will,” “could,” “would,” “should,” “approach,” “anticipate,” “intend,” “believe,” “count on,” “estimate,” “upcoming,” “prospective,” “proceed,” “focus on” and very similar words and phrases or expressions are supposed to identify forward-hunting statements, even though not all ahead-seeking statements include these determining text. Forward-looking statements are based on management’s latest anticipations and could entail known and mysterious challenges and uncertainties which may possibly cause true effects, economical issue, efficiency or achievements of Celyad Oncology to vary materially from those people expressed or implied by such forward-hunting statements. This sort of threat and uncertainty includes, without having limitation: the timing, duration and outcome of the clinical hold on the CYAD-101-002 Stage 1b demo, Celyad Oncology’s skill to continue to accessibility to the fairness buy agreement with Lincoln Park Capital Fund, LLC, our financial and working results, the duration and severity of the COVID-19 pandemic, and worldwide economic uncertainty, which include with regard to geopolitical problems and attendant sanctions ensuing from the conflict in Ukraine. A even further record and description of these challenges, uncertainties and other dangers can be found in Celyad Oncology’s U.S. Securities and Exchange Commission (SEC) filings and experiences, together with in the latest Once-a-year Report on Form 20-F submitted with the SEC, and subsequent filings and stories of Celyad Oncology. These ahead-looking statements talk only as of the date of publication of this doc and Celyad Oncology’s true success could vary materially from those people expressed or implied by these ahead-seeking statements. Celyad Oncology expressly disclaims any obligation to update any forward-wanting statements in this doc to replicate any alter in its expectations with regard thereto or any transform in functions, situations or situation on which any this sort of assertion is dependent, except demanded by regulation or regulation.

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Contacts

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