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Celsion Corporation (NASDAQ: CLSN) announced the filing of a provisional patent for its novel DNA-based vaccine technology, PLACCINE, aimed at combating a range of infectious agents, including SARS-CoV-2. The platform claims to enhance immune responses via multivalent approaches, allowing for broad protection against potential pandemics. The technology is designed to be stable at various temperatures, facilitating global distribution. The Executive VP highlights its potential to improve viral clearance and provide lasting immunity against future mutations.
Celsion Corporation (NASDAQ: CLSN) has successfully closed a registered direct offering of 25,925,925 shares of common stock at $1.35 per share, yielding $32.6 million in net proceeds. The offering was arranged under Nasdaq rules with A.G.P./Alliance Global Partners as the lead placement agent.
The funds will be allocated for general corporate purposes, including research and development, capital expenditures, and working capital needs.
Celsion Corporation (NASDAQ: CLSN) announced its financial results for Q3 and the first nine months of 2020, reporting a net loss of $8.1 million or $0.24 per share for Q3, compared to $5.5 million or $0.25 per share a year prior. The company continues to advance clinical studies, with the Phase II OVATION 2 Study for GEN-1 ongoing and patient follow-ups for the Phase III OPTIMA Study of ThermoDox®. Celsion ended Q3 with $18.3 million in cash, expecting to fund operations through the end of 2021. A new $26 million stock purchase agreement with Lincoln Park Capital was also initiated.
Celsion Corporation (NASDAQ: CLSN) will host a conference call on November 16, 2020, at 11:00 a.m. ET to discuss its Q3 2020 financial results and updates on its development programs, including GEN-1 and ThermoDox®. Participants can join via phone or listen online, with a replay available after the call until November 30, 2020. Celsion focuses on innovative cancer treatments and has advanced its proprietary therapies through clinical stages.
Celsion Corporation (NASDAQ: CLSN) CEO Michael H. Tardugno provided an update on the Phase III OPTIMA Study involving ThermoDox® for treating primary liver cancer. The study's interim analysis indicated a futility boundary was crossed, with a hazard ratio of 0.903 and a p-value of 0.524. Despite this, Celsion intends to continue patient follow-up until at least 197 deaths occur for final analysis, anticipated mid-2021. Additionally, there is increased interest in ThermoDox® for other indications, with several investigator-sponsored studies underway. Findings from independent statistical analyses are expected by year-end.
Celsion Corporation (NASDAQ: CLSN) has updated on its OVATION 2 Study for advanced ovarian cancer and announced a $26 million stock purchase agreement with Lincoln Park Capital Fund. LPC's initial purchase of $1 million at $1.00 per share represents a 28% market premium. The agreement allows Celsion to sell shares at its discretion over 36 months. The funding is expected to facilitate the full enrollment of the OVATION 2 Study and advance ongoing clinical trials. Celsion aims to complete the enrollment of 118 patients by Q2 2021, a quarter earlier than expected.
Celsion Corporation (NASDAQ: CLSN) announced on September 2, 2020, a $5 million loan amendment with Horizon Technology Finance Corporation. This restructuring reduces its outstanding debt by $5 million, maintaining a remaining balance of $5 million with interest-only payments for the first year. The company aims to utilize the funds for working capital and advancing its products, including GEN-1 for ovarian cancer. With a cash position of $20.5 million and an additional $1.8 million expected from the sale of net operating losses, Celsion is positioned for critical milestones in cancer treatment development.
Celsion Corporation (NASDAQ: CLSN) reported financial results for Q2 2020, with a net loss of $5.3 million ($0.18 per share), down from $5.9 million in Q2 2019. The company is advancing its clinical programs, particularly the promising Phase II OVATION 2 Study of GEN-1 in advanced ovarian cancer, where enrollment of 105 patients is expected to complete by Q2 2021. Following a recommendation to stop the Phase III OPTIMA Study, the company will continue monitoring patients for overall survival, indicating potential data maturity issues. Celsion ended Q2 2020 with $25.5 million in cash and securities.
Celsion Corporation (NASDAQ: CLSN) will host a conference call on August 14, 2020, at 11:00 a.m. EDT to discuss its second-quarter financial results and updates on its cancer treatment programs, including GEN-1 and ThermoDox®. Interested participants can join by calling 1-800-353-6461 or 1-334-323-0501 and should register ten minutes prior. The call will be available for replay until August 28, 2020.
Celsion focuses on innovative cancer treatments and is developing its product pipeline for various cancer indications.
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