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Sep 30, 2021
Celsion Q3 2021 Earnings Report
Celsion reported third quarter 2021 financial results and provided a business update.
Key Takeaways
Celsion Corporation reported a net loss of $5.4 million, or $0.06 per share, for the quarter ended September 30, 2021, compared to a net loss of $8.1 million, or $0.24 per share, for the same period in 2020. The company ended the quarter with $60.6 million in cash, investment securities, restricted cash and accrued interest receivable, which is expected to fund operations through the end of 2024.
GEN-1 patient enrollment nears 70%, with full enrollment targeted by the first half of 2022.
Interim clinical data from the first 36 patients who have undergone interval debulking surgery showed promising results.
Celsion announced results from preclinical in vivo studies showing production of antibodies and cytotoxic T-cell response specific to the spike antigen of SARS-CoV-2 when immunizing BALB/c mice with their next-generation PLACCINE DNA vaccine.
Celsion entered into an agreement with Hainan Poly Pharm to manufacture Celsion’s DNA-based vaccine.