Genkyotex Provides Business Update and Reports Cash Position at March 31, 2021
Rights issue of €5 million in March 2021 completed
Positive data from Phase 1 clinical trial of high-dose setanaxib
Regulatory News:
Genkyotex (Euronext Paris Brussels: FR0013399474 GKTX) (Paris:GKTX) (Brussels:GKTX), a biopharmaceutical company and the leader in NOX therapies, today reported cash and cash equivalents of €3.8 million as of March 31, 2021. The existing cash and cash equivalents provide cash runway to end of July 2021.
Business update
On March 24, 2021, the Company announced that it had raised €5 million through a rights issue in France. Following this capital increase, the Company s main shareholder, Calliditas Therapeutics AB (publ), holds 90.2% of the share capital and voting rights of the Company.
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Genkyotex Announces Update for Near Term Clinical Development Plan for Setanaxib
(Paris:GKTX) (Brussels:GKTX)
(Euronext Paris Brussels: FR0013399474 GKTX), a biopharmaceutical company and the leader in NOX therapies, today announced clinical and governance updates.
Clinical update
Following the positive results from the Phase 1 study announced in January of 2021, which evaluated higher doses of setanaxib in healthy subjects, Genkyotex is planning to initiate a pivotal Phase 2/3 study in primary biliary cholangitis (PBC), starting in the 2
nd half of 2021, with final design and protocol details subject to feedback from the US Food and Drug Administration (FDA).
In addition, the Company plans to initiate this year a Phase 2 proof-of-concept study in patients with head and neck cancer. The trial will evaluate administration of setanaxib, targeting cancer associated fibroblasts (CAFs), in conjunction with immunotherapy.