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Jun 30, 2022
Celsion Q2 2022 Earnings Report
Celsion reported a net loss for the second quarter of 2022 and provided a business update on its DNA Mediated Immunotherapy and Next-Generation Vaccine Programs.
Key Takeaways
Celsion Corporation reported a net loss of $6.0 million ($0.87 per share) for the second quarter of 2022, compared to a net loss of $5.4 million ($0.95 per share) in 2021. The company's operating expenses were $6.1 million, a 17% increase from $5.2 million in the same period last year. Celsion ended the quarter with $48.1 million in cash, investments, and accrued interest receivable, which they believe is sufficient to fund operations into 2025.
OVATION 2 Phase II study of GEN-1 in advanced ovarian cancer continues to advance, with complete enrollment anticipated in the third quarter.
PLACCINE platform continues to show promise for addressing a range of infection diseases.
Data Safety Monitoring Board unanimously recommends continued dosing patients in the OVATION 2 Study.
Corinne Le Goff Appointed as President and Chief Executive Officer; Michael H. Tardugno Appointed Executive Chairman of the Board.
Forward Guidance
Celsion believes it has sufficient capital resources to fund its operations into 2025.
Historical Earnings Impact
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