MaaT Pharma Reports Cash and Revenues for First Quarter 2022
- As of March 31, 2022, cash and cash equivalents of positions were EUR 41.1 million1
- Revenues of EUR 0.3 million1 in Q1 2022
LYON, France--(BUSINESS WIRE)--$MAAT--Regulatory News:
MaaT Pharma (EURONEXT: MAAT – the “Company”), a French clinical-stage biotech and a pioneer in the development of microbiome-based ecosystem therapies dedicated to improving survival outcomes for patients with cancer today reported its cash position as of March 31, 2022, and its revenues for the first quarter of 2022.
Over the course of the first quarter 2022, the Company has continued its clinical development as previously announced in the context of its IPO in November 2021 such as:
- In January 2022, announcement of positive interim and preliminary data of its Phase 1b trial for MaaT033 in preventing complications of allogeneic hematopoietic stem cell transplantation
- In March 2022, inclusion of the first patient in a Phase 3 trial “ARES” for drug-candidate MaaT013 in the treatment of Graft-versus-Host Disease
- In April 2022, initiation of a Phase 2a trial, sponsored by AP-HP, evaluating MaaT013 in combination with immune checkpoint inhibitors for patients with melanoma
Moreover, the Company entered a partnership agreement in February 2022 with Skyepharma to build, to date, France’s largest cGMP manufacturing facility exclusively dedicated to the production of Microbiome Ecosystem Therapy (MET), thus increasing MaaT Pharma’s manufacturing capabilities ten-fold in line with supply needs required by 2030.
As of March 31, 2022, total cash and cash equivalents were EUR 41.1 million, as compared to EUR 43.3 million as of December 31, 2021. The Company believes it has sufficient cash to cover needs of the development programs presented during the IPO up until the end of the third quarter of 2023.
Revenues in Q1 20221
MaaT Pharma reported revenues of EUR 0.3 million for the quarter ended March 31, 2022, compared with 0.1 million for the same period of 2021. Revenues correspond to compensation invoiced in relation to the compassionate access program, as approved by the French National Drug Safety Agency (Agence Nationale de Sécurité du Médicament or ANSM). In 2022, the program was fully active whereas in 2021 the program began over the course of the first quarter, thus explaining the year-on-year increase.
Upcoming financial communication and investor conference participation
- May 31, 2022 – Annual General Meeting
- June 7, 2022 – Investor R&D Day
- June 30, 2022 – 9th Portzamparc Annual Conference, Paris
- July 28, 2022 – Revenues and Cash Position Quarter 2*
- September 15 - 16, 2022 – KBCS Life Sciences Conference
- September 29, 2022 – Half-year Results 2022*
*Indicative calendar that may be subject to change.
About MaaT Pharma
MaaT Pharma, a clinical stage biotechnology company, has established a complete approach to restoring patient-microbiome symbiosis in oncology. Committed to treating cancer and graft-versus-host disease (GvHD), a serious complication of allogeneic stem cell transplantation, MaaT Pharma has launched, in March 2022, a Phase 3 clinical trial for patients with acute GvHD, following the achievement of its proof of concept in a Phase 2 trial. Its powerful discovery and analysis platform, gutPrint®, supports the development and expansion of its pipeline by determining novel disease targets, evaluating drug candidates, and identifying biomarkers for microbiome-related conditions.
The company’s Microbiome Ecosystem Therapies are produced through a standardized cGMP manufacturing and quality control process to safely deliver the full diversity of the microbiome, in liquid and oral formulations. MaaT Pharma benefits from the commitment of world-leading scientists and established relationships with regulators to support the integration of the use of microbiome therapies in clinical practice.
MaaT Pharma is the first company developing microbiome-based therapies listed on Euronext Paris (ticker: MAAT).
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.
1 Unaudited data
MaaT Pharma – Investor Relations
Co-Founder and CEO
Siân Crouzet, COO/ CFO
+33 4 28 29 14 00
MaaT Pharma – Media Relations
Senior PR & Corporate Communications Manager
+33 6 07 55 25 36
Trophic Communications –
Corporate and Medical Communications
Jacob VERGHESE or Gretchen SCHWEITZER
+49 89 23 88 77 31