On October 4SC AG (4SC, FSE Prime Standard: VSC) reported a business update for the three months ended 30 September 2021, as well as its current outlook (Press release, 4SC, OCT 19, 2022, View Source [SID1234622188]). The full report is available for download on 4SC’s website.
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Key highlights of Q3 2021
185 patients were enrolled into the pivotal RESMAIN study
18 patients were enrolled into the MERKLIN 2 study
The first patients were recruited into the TURANDOT study
Data from the DONIMI study was presented at the ESMO (Free ESMO Whitepaper) Congress of the European Society of Medical Oncology
Cash balance development in Q3 2021 and financial forecast
As of 30 September 2021, 4SC holds cash balance/funds of €32,381 thousand as compared to €36,545 thousand as of 30 June 2021.
The average monthly use of cash from operations amounted to €918 thousand on average in the first nine months of 2021 (9M 2020: €1,172 thousand). Excluding the cash contribution received from the transaction with Immunic signed in Q1 2021, the average monthly use of cash from operating activities was €1,731 thousand.
The decrease of cash funds in the first nine months of 2021 is mainly a result of the expenditures for the ongoing clinical study RESMAIN as well as for the expansion of the clinical program for domatinostat, particularly in MCC.
Based on current financial and operating activities and taking into account the additional funds provided by the settlement agreement with Immunic in the first half-year 2021, the Management Board of 4SC estimates that current funds should be sufficient to finance 4SC into the second half of 2022.