Celyad Reports Strong Cash Runway Until Mid-2019 With EUR 87 Mln At Q3-end

(RTTNews) - Celyad (CYAD), a clinical-stage biopharmaceutical company focused on cell therapies, Friday said it has ended the third quarter with 87 million euros in cash.

This included the first payment of 10 million euros from ONO Pharmaceutical Co.., LTD, Japan, related to the strategic License agreement to develop allogeneic NKR-2 T-cell immunotherapy.

The company said that use of cash over the quarter amounted to 9 million euros.

The company believes that existing cash and cash equivalents and short term investments are sufficient to fund operating expenses and capital expenditure requirements, based on the current scope of activities, until the middle of 2019.

Further, Celyad stated that first clinical trial of NKR-2 T-cells therapy was completed with good safety outcome and unexpected signals of clinical activity at the low doses tested.

Christian Homsy, CEO of Celyad said, "The third quarter of 2016 saw us increase our focus on the development of our NKR-T platform in line with our strategy. ... We now look forward to reporting the outcome of this trial at ASH in December, and starting THINK, our multiple dosing umbrella trials testing NKR-2 in five solid and two blood malignancies."