Calliditas Therapeutics AB American Depositary Shares - CALT STOCK NEWS

Calliditas Therapeutics reported a positive topline readout from Part A of its Phase 3 trial, NefIgArd, showing a 31% reduction in proteinuria, surpassing expectations. The company acquired a controlling interest in Genkyotex, enhancing its portfolio in NOX inhibitors. Financially, Q4 2020 net sales were SEK 0.4 million, a steep decline from SEK 46.6 million in 2019. Operating loss ballooned to SEK 135.9 million from SEK 18.0 million. Loss before tax reached SEK 173.3 million compared to SEK 23.0 million last year. Cash reserves increased to SEK 996.3 million from SEK 753.5 million year-over-year.

Calliditas Therapeutics announced the first patient has been dosed in the global open-label extension of the Phase 3 NefIgArd study on February 4, 2021. This OLE study will treat eligible patients with Nefecon for 9 months to assess efficacy and safety in addressing IgA Nephropathy (IgAN). Following successful results in the initial Phase 3 study, the OLE aims to evaluate changes in urine protein and kidney function. CEO Renée Aguiar-Lucander emphasized the significance of this trial for retreatment insights and patient data expansion.

Calliditas Therapeutics announced the cancellation of its proposed global offering due to a deterioration in market conditions. Initially, the offering was seen as opportunistic amidst strong market interest. However, the company decided against pursuing this strategy to protect shareholder interests. CEO Renée Aguiar-Lucander stated Calliditas remains well-capitalized with a cash runway extending into Q3 2022 and indicated that alternative financing options are being considered that may be more favorable in the current volatile environment.

Calliditas Therapeutics AB has announced a public offering of American Depositary Shares (ADSs) in the U.S. and a concurrent private placement in Europe. The target size for the Global Offering is 4,500,000 common shares, with a potential 15% over-allotment option. The offering is subject to market conditions and investor demand, with pricing details yet to be determined. Common shares are listed on Nasdaq Stockholm (CALTX) and ADSs on Nasdaq Global Select Market (CALT). The completion of the offering is not guaranteed.

Calliditas Therapeutics (CALT) has completed enrollment of all 360 patients for its global Phase 3 NefIgArd trial, which assesses Nefecon® against placebo in patients with primary IgA nephropathy (IgAN). Positive topline data from Part A, released on November 8, 2020, demonstrated significant efficacy, achieving the primary endpoint of proteinuria reduction and stability in eGFR. Part B will confirm long-term renal protection over two years. This milestone was achieved during the COVID-19 pandemic, reflecting the dedication of investigators and patients.

Calliditas Therapeutics (CALT) announced clinical development plans for setanaxib in primary biliary cholangitis (PBC) and oncology, following positive Phase 1 results. The company aims to initiate a pivotal Phase 2/3 study in PBC in H2 2021, pending FDA feedback. Additionally, a Phase 2 study in head and neck cancer will commence, assessing setanaxib with immunotherapy. Calliditas will also share data from the NefIgArd Phase 3 study for IgA Nephropathy, highlighting a 9.5% treatment discontinuation rate and no adverse effects observed. The R&D Day presentation will cover regulatory submissions and market preparations.

On January 18, 2021, Genkyotex SA, a subsidiary of Calliditas Therapeutics, announced positive Phase 1 results for high-dose setanaxib, indicating a favorable safety and pharmacokinetic profile. The trial involved 46 healthy subjects and tested doses up to 1600mg/day, showing no dose-limiting toxicity. The data paves the way for a pivotal Phase 2/3 trial for treating primary biliary cholangitis (PBC). Previous Phase 2 trials demonstrated setanaxib's efficacy in reducing markers of cholestasis and improving fatigue, with strong safety profiles.

Calliditas Therapeutics AB (CALT) has announced a virtual R&D Day on January 20, 2021, from 1 PM to 5 PM CET. The event will showcase presentations from executive management and leading experts, covering topics like IgA nephropathy, Nefecon clinical data, and commercialization strategies in the U.S. Attendees will also have the opportunity to participate in live Q&A sessions. The presentations will be available on Calliditas' website post-event. This initiative emphasizes Calliditas' commitment to advancing treatments for rare kidney diseases and enhancing investor engagement.

Calliditas Therapeutics has successfully completed a simplified public mandatory offer for Genkyotex shareholders, controlling 86.2% of shares after the acceptance period ended on December 11, 2020. Initially acquiring 62.7% of shares, Calliditas offered EUR 2.80 per share and received 2,885,161 additional shares in the final tally. Calliditas focuses on developing treatments for rare diseases, notably Nefecon for IgA nephropathy, with key clinical trials underway. This acquisition enhances its market position in the pharmaceutical sector.