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

Enrollment proceeds in Section 1 dose-escalation IMMUNICY-1 trial for direct shRNA-centered allogeneic Vehicle T prospect, CYAD-211, for relapsed/refractory several myeloma (r/r MM)
Dialogue continues with regulatory businesses about CYAD-101-002 Phase 1b demo, which remains on scientific hold

MONT-SAINT-GUIBERT, Belgium, May perhaps 05, 2022–(Enterprise WIRE)–Regulatory News:

This replaces the announcement designed at 22:01 CEST on 5 May well due to the following corrections: Up to date ‘First Quarter 2022 Financial Review’ portion.

CELYAD ONCOLOGY ANNOUNCES 1st QUARTER 2022 Money Results AND The latest Business enterprise HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Corporation”), a scientific-stage biotechnology organization concentrated on the discovery and development of chimeric antigen receptor T mobile (Auto T) therapies for cancer, now announced an update on its monetary benefits and recent company developments for the fiscal quarter finished March 31, 2022.

“The to start with quarter of 2022 brought us the two worries and opportunities that we are struggling with head-on. Even though we go on to examine the modern developments in the CYAD-101 Phase 1b trial, we are earning great progress with our shRNA-centered allogeneic programs, including CYAD-211, for which we foresee announcing more knowledge throughout the next 50 percent of the yr,” commented Filippo Petti, Main Government Officer of the Corporation. “We are genuinely grateful for our hardworking staff and the guidance of our shareholders while we progress towards our milestones for the yr and even further increase our allogeneic Motor vehicle T investigational therapies with our proprietary non gene edited technologies.”

Update on Medical and Preclinical Programs

CYAD-211 – Allogeneic shRNA-primarily based, anti-BCMA Vehicle T prospect for r/r MM

CYAD-101 – Allogeneic TIM-based, NKG2D Car T Prospect for Metastatic Colorectal Cancer (mCRC)

In February 2022, the Company voluntarily paused the Period 1b trial of CYAD-101 immediately after two fatalities happened that presented with identical pulmonary findings. Subsequently, in March 2022, the Business was educated by the U.S. Food items and Drug Administration that the CYAD-101-002 Section 1b trial had been placed on clinical maintain.
The Business continues to examine these conclusions in the CYAD-101-002 Period 1b trial and is analyzing any comparable events in more patients dealt with in the examine, while also working with appropriate regulatory authorities. The Organization expects to deliver extra updates on the demo in the foreseeable future.

shRNA Armored Automobile (shARC) Franchise

Exploration continues in several discovery plans concentrated on the co-expression of Interleukin-18 (IL-18) in conjunction with our short hairpin RNA (shRNA) technological innovation platform, also regarded as our shARC (shRNA Armored Auto) franchise.
In April, the Corporation decided to quit the development of CYAD-203, an allogeneic shRNA-primarily based, IL-18-armored NKG2D Vehicle T candidate following the analysis of preclinical info from several investigational new drug software (IND)-enabling scientific studies. The Organization carries on to explore back again-up allogeneic NKG2D receptor Auto T candidates at the moment in discovery stage that leverage the Company’s shARC system.

Initial Quarter 2022 Financial Review

As of March 31, 2022, the Corporation had cash and cash equivalents of €20.5 million ($22.9 million). Internet income burn up throughout the to start with quarter of 2022 amounted to €9.5 million ($10.6 million), in line with expectations. The Organization confirms its former advice that its current cash and hard cash equivalents, mixed with the remaining obtain to the fairness obtain settlement set up with Lincoln Park Capital Fund, LLC, must be ample to fund working fees and money expenditure necessities until finally mid-2023.

Economical Calendar

Initially Fifty percent 2022 Fiscal Benefits …………………… August 5, 2022
Third Quarter 2022 Economic Outcomes ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a medical-phase biotechnology organization centered on the discovery and improvement of chimeric antigen receptor T mobile (Vehicle T) therapies for most cancers. The Company is producing a pipeline of allogeneic (off-the-shelf) and autologous (personalized) Automobile T mobile therapy candidates for the remedy of the two hematological malignancies and reliable tumors. Celyad Oncology was started in 2007 and is centered in Mont-Saint-Guibert, Belgium and New York, NY. The Organization has acquired funding from the Walloon Location (Belgium) to help the improvement of its Motor vehicle T mobile treatment systems. For much more info, please check out www.celyad.com.

Forward-hunting statements

This launch has forward-hunting statements, inside the meaning of relevant securities legal guidelines, like the Personal Securities Litigation Reform Act of 1995, as amended. Ahead-looking statements incorporate, without the need of limitation, statements with regards to: the CYAD-101-002 trial, including the scientific keep, the timing and outcomes of added info from Phase 1 IMMUNICY-1 demo of CYAD-211, protection and scientific activity of the merchandise candidates in Celyad Oncology’s pipeline, Celyad Oncology’s economical problem and hard cash runway, and anticipated final results of functions and enterprise outlook. The words and phrases “could,” “may well,” “will,” “could,” “would,” “should really,” “approach,” “anticipate,” “intend,” “believe,” “hope,” “estimate,” “potential,” “probable,” “keep on,” “goal” and similar terms or expressions are meant to identify ahead-hunting statements, despite the fact that not all ahead-on the lookout statements have these pinpointing text. Forward-looking statements are primarily based on management’s present anticipations and could include identified and unidentified hazards and uncertainties which may trigger true results, monetary situation, efficiency or achievements of Celyad Oncology to differ materially from people expressed or implied by these kinds of ahead-hunting statements. These kinds of hazard and uncertainty incorporates, with no limitation: the timing, period and final result of the medical maintain on the CYAD-101-002 Stage 1b trial, Celyad Oncology’s means to carry on to entry to the fairness purchase arrangement with Lincoln Park Cash Fund, LLC, our economic and running results, the duration and severity of the COVID-19 pandemic, and global economic uncertainty, together with with regard to geopolitical disorders and attendant sanctions resulting from the conflict in Ukraine. A even further list and description of these challenges, uncertainties and other challenges can be uncovered in Celyad Oncology’s U.S. Securities and Exchange Commission (SEC) filings and experiences, including in the most recent Once-a-year Report on Type 20-F filed with the SEC, and subsequent filings and reviews of Celyad Oncology. These forward-on the lookout statements converse only as of the day of publication of this doc and Celyad Oncology’s true final results might vary materially from those expressed or implied by these ahead-searching statements. Celyad Oncology expressly disclaims any obligation to update any ahead-wanting statements in this document to reflect any change in its expectations with regard thereto or any modify in events, conditions or instances on which any this sort of assertion is based, unless expected by regulation or regulation.

Check out source version on businesswire.com: https://www.businesswire.com/information/household/20220505006197/en/

Contacts

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