Transgene: limited cash consumption in the first quarter











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(Boursier.com) — During the first quarter of 2022, revenues from Transgene’s collaboration and licensing agreements amounted to 2.2 ME compared to 2.4 ME a year earlier, they are mainly from the agreement collaboration with AstraZeneca. As of March 31, 2022, public funding for research expenditure corresponded mainly to a quarter of the amount of the research tax credit expected for 2022 (1.7 million euros in the first quarter of 2022, compared to 1.5 million euros for the same period in 2021).

Transgene estimates that all of its preclinical and clinical products progressed over the quarter in line with expectations and confirms that all of its immunotherapies currently being evaluated in clinical trials will provide data by the end of the year. On the subject of the individualized cancer vaccine TG4050, a poster on the progress of the two Phase I clinical trials has for example been accepted for a presentation at the next annual meeting of the ASCO (American Society of Clinical Oncology) which will take place in Chicago. (United States) from June 3 to 7, 2022. More information will be communicated on May 27, 2022, following the publication of the abstracts by the congress.

Cash, cash equivalents and other financial assets represented €46.8 million as of March 31, 2022, compared to €49.6 million as of December 31, 2021. In the first quarter of 2022, Transgene’s cash consumption was amounted to 2.8 million euros, compared to 7.2 million euros for the same period in 2021. This decrease is notably linked to the receipt, in January 2022, of the payment of 8 million dollars paid by AstraZeneca following the exercise of a first license option in December 2021 for an oncolytic virus developed by Transgene.

Transgene still believes that it has financial visibility until the end of 2023.


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