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Mar 31, 2022
Celsion Q1 2022 Earnings Report
Celsion reported first quarter 2022 financial results and provided a business update.
Key Takeaways
Celsion Corporation reported a net loss of $10.5 million, or $1.82 per share, for the first quarter of 2022. The company's operating expenses were $6.0 million, and research and development expenses were $3.1 million. Celsion had $47.3 million in cash, investments and restricted cash as of March 31, 2022, and believes it has sufficient capital resources to fund its operations into the second quarter of 2025.
Patient enrollment in OVATION 2 continues with 85% of patients enrolled as of May 15, 2022.
Early reports from the first thirty-nine patients showed a 27% improvement in surgical resection rate in the GEN-1 treatment arm over the control arm.
Preclinical studies showed Celsion's next-generation PLACCINE DNA vaccine can target two different viral variants.
BIOQUAL, Inc. is conducting a non-human primate challenge study of Celsion's vaccine candidates against SARS-CoV-2.
Celsion
Celsion
Forward Guidance
Celsion believes it has sufficient capital resources to fund its operations into the second quarter of 2025.