Business
Context Therapeutics Reports Second Quarter 2024 Operating and Financial Results
Announced acquisition of CT-95, a mesothelin x CD3 bispecific antibody Claudio Dansky Ullmann, M.D. named Chief Medical Officer Cash and cash equivalents of
About this update from Context Therapeutics Inc.
[{"type":"text","content":"Announced acquisition of CT-95, a mesothelin x CD3 bispecific antibody Claudio Dansky Ullmann, M.D. named Chief Medical Officer Cash and cash equivalents of $101.5 million as of June 30, 2024 PHILADELPHIA, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (“Context” or the “Company”) (Nasdaq: CNTX), a biopharmaceutical company advancing medicines for solid tumors, today announced its financial results for the second quarter ended June 30, 2024, and reported on recent business highlights. “Context continues to build momentum, and we believe the Company is well positioned to have a successful year,” said Martin Lehr, CEO of Context. “Our team recently initiated our Phase 1 trial for CTIM-76, a Claudin 6 x CD3 bispecific antibody and looks forward to dosing our first patient in the third quarter. In addition, the recent acquisition of CT-95, a mesothelin x CD3 bispecific antibody, delivered Context a second potentially best-in-class clinical asset to complement CTIM-76.” Mr. Lehr continued, “Additionally, we continue to strengthen our team and are pleased that Dr. Dansky Ullmann has joined our executive team as Chief Medical Officer. Dr. Dansky Ullmann brings deep expertise in oncology and T cell therapies and a proven track record of advancing programs through clinical development.” Second Quarter 2024 and Recent Corporate Highlights Pipeline Updates In July 2024, completed the acquisition of CT-95, a potentially first-in-class mesothelin x CD3 bispecific antibody that has received Investigational New Drug (“IND”) clearance from the U.S. Food and Drug Administration (“FDA”). We believe that CT-95 is on track for dosing the first patient in the Phase 1 trial in the first quarter of 2025.In May 2024, announced that the FDA cleared the Company’s IND for CTIM-76, a Claudin 6 x CD3 bispecific antibody. Dosing of the first patient in the CTIM-76 Phase 1 trial is expected to occur in the third quarter of 2024. Corporate Updates In August 2024, announced the appointments of Dr. Claudio Dansky Ullmann as Chief Medical Officer and Ms. Karen Andreas as VP, Clinical Operations.In May 2024, closed a private placement that resulted in gross proceeds of approximately $100 million, before deducting placement agent fees and offering expenses.In April 2024, the Company participated in the 23rd Annual Needham Virtual Healthcare Conference....