On February 28, 2022 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 reported its cash position as of December 31, 2021, and its full-year 2021 revenues (Press release, MaaT Pharma, FEB 28, 2022, View Source [SID1234609135]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"2021 has been an eventful year for MaaT Pharma. Promising results from our Phase 2 and from the Early Access Program for MaaT013, our lead candidate ready to enter a Phase 3 study, marked our clinical development. We also reached a new milestone in our history in 2021 with the success of our IPO on the Euronext, which allowed us to raise EUR 35.7 million. We are in a solid financial position and are moving forward in our development with value-creating clinical milestones expected in the upcoming months for MaaT013 and our second drug candidate, MaaT033, as well as scaling up our manufacturing capacities," stated Hervé Affagard, CEO and co-founder of MaaT Pharma.
Cash position1
As of December 31, 2021, total cash and cash equivalents were EUR 43.3 million, as compared to EUR 19.9 million as of December 31, 2020. The increase in cash flow is due to the capital raise of EUR 35.7 million following the Company’s IPO on Euronext on November 8, 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 20211
MaaT Pharma reported revenues of EUR 1.0 million for the year ended December 31, 2021, which includes compensation from the Temporary Authorization for Use program (ATUn), known as compassionate access program since July 1, 2021, and approved by the French National Drug Safety Agency (Agence Nationale de Sécurité du Médicament or ANSM). In 2021, new patients, mostly suffering from graft-versus-host disease, were granted early access treatment with MaaT013. To date in 2022, requests for the early access program are following as similar trend to that observed in 2021.
Upcoming financial communication and investor conference participation
March 3, 2022 (10:00am CET) – Ordinary and Extraordinary Shareholders’ General Meeting (regarding resolutions relative to the implementation of a Liquidity Contract, the Annual General meeting will take place at a later date).
April 15, 2022 – Annual results 2021
April 20 and 21, 2022 – 14th Kempen Life Sciences Conference, Amsterdam
June 29 and 30, 2022 – 9th Portzamparc Annual conference, Paris