- As of March 31, 2023, cash and cash equivalents were EUR 40.7
million1
- Revenues of EUR 0.7 million1 in Q1 2023
Regulatory News:
MaaT Pharma (EURONEXT: MAAT – the “Company”), a
clinical-stage biotechnology company and a leader in the
development of Microbiome Ecosystem TherapiesTM (MET) dedicated to
improving survival outcomes for patients with cancer, today
reported its cash position as of March 31, 2023, and its revenues
for the first quarter of 2023. The beginning of 2023 was marked by
a major milestone in the clinical development of MaaT Pharma,
namely the lifting of the clinical hold by the FDA, announced on
April 24th, for the Phase 3 trial IND evaluating MaaT013, a
microbiome-based drug using the pooling technology.
"In the past 6 months, the microbiome industry has experienced
strong momentum, with a very positive news flow, including two
market approvals from the FDA for microbiome-derived drugs in
infectious diseases," said Hervé Affagard, CEO and co-founder of
MaaT Pharma. "We are convinced that our therapeutic approach,
combined with our ability to produce MET drug candidates in-house,
gives us a significant advantage, especially now that the FDA has
for the first time authorized a patented pooling technology for the
evaluation in a Phase 3 trial in the United States."
Operational and clinical highlights for the first quarter of
2023:
In January 2023, the Company announced its clinical development
roadmap:
- In haemato-oncology: the evaluation of MaaT013 in
Graft-versus-Host disease is still progressing in Europe. For
MaaT033, the Company continues preparations to initiate the Phase
2b clinical trial dedicated to improving the survival of patients
who have received an allo-HSCT2 with first sites in France and
Germany. Promising clinical data for MaaT013 and MaaT033 were
presented in two oral presentations during the 49th EBMT Annual
Meeting that took place in April 2023.
- In immuno-oncology: the Phase 2a proof-of-concept trial
sponsored by the AP-HP, evaluating the effect of MaaT013 on the
response of immunotherapy treatments in metastatic melanoma, is
progressing as planned.
- Neurodegenerative diseases: the Company is expanding its
clinical research with a Phase 1b trial in France evaluating
MaaT033 in Amyotrophic Lateral Sclerosis (ALS)3, scheduled to start
before the end of the first half of 2023.
In February 2023, the Company successfully completed a capital
raise of approximately 12.7 million euros with the support of its
existing shareholders, extending its cash runway from the fourth
quarter of 2023 into the second quarter of 2024.
Cash position1
As of March 31, 2023, total cash and cash equivalents were EUR
40.7 million, as compared to EUR 35.2 million as of December 31,
2022. This net increase in cash of EUR 5.5 million during the first
quarter of 2023 is explained by the EUR 12.7 million capital
increase completed in February 2023, partly offset by EUR 7.2
million in financing of operations, reflecting the growing clinical
development activities underway.
Revenues generated in Q1 20231 from the Early Access Program
with MaaT013
MaaT Pharma reported revenues of EUR 0.7 million for the first
quarter of 2023 compared with EUR 0.3 million for the same period
of 2022. This significant growth reflects the increasing demand,
over the period, for the use of MaaT013 under the Early Access
program4 in Europe.
Upcoming financial communications*
- June 19, 2023 – Annual General Meeting
- July 27, 2023 – Revenues and Cash Position Quarter 2
- September 26, 2023 – Half-year Results 2023
- November 9, 2023 - Revenues and Cash Position Quarter 3
*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, an open-label, single arm Phase 3 clinical trial in
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 listed
on Euronext Paris (ticker: MAAT).
Forward-looking Statements
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
2 Allo-HSCT: Hematopoietic Stem Cell Transplantation
3 ALS is also known as Charcot’s disease in French speaking
countries, Lou Gehrig’s disease in North America and Motor neurone
disease -MND- in the UK and Australia
4 This program, regulated by a strict legal framework, allows,
upon request initiated by the physician and after obtaining
authorization from the competent health authorities, to treat a
patient with an unlicensed drug in a disease where no therapy
exists to date.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230509005871/en/
MaaT Pharma – Investor Relations Hervé AFFAGARD
Co-Founder and CEO Siân CROUZET, COO/ CFO +33 4 28 29 14 00
invest@maat-pharma.com
MaaT Pharma – Media Relations Pauline RICHAUD Senior PR
& Corporate Communications Manager +33 6 14 06 45 92
media@maat-pharma.com
Trophic Communications – Corporate Communications
Charlotte SPITZ or Stephanie MAY +49 171 351 2733
maat@trophic.eu
Maat Pharma (EU:MAAT)
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