Cynata Therapeutics Limited Releases Its Preclinical Study Outcome

  • Sep 21, 2018 AEST
  • Team Kalkine
Cynata Therapeutics Limited Releases Its Preclinical Study Outcome

Cynata Therapeutics Limited’s (ASX: CYP) stock edged up 0.413 percent on 21 September 2018 at the back of positive market sentiment related to affirmative preclinical study of preclinical model which demonstrates its proprietary Cymerus™ mesenchymal stem cells (MSCs) having a potential  to reduce the effects of Cytokine release syndrome (CRS).

As per the release, Cymerus MSC treatment is effective way to protect against aforesaid syndrome in murine models, with statistically significant improvements in body temperature and clinical scores relative to control animal. In Murine Model, there were several tests conducted on mice which has proven that Cymerus MSC is an effective to minimize the effects of CRS. Moreover, the company is eying on to partnering with other companies which develop cancer immunotherapies to evaluate the treatment approach in humans. 

For the year ended June 30, 2018, the company reported revenue from operating activities of $1.5 million which was $1.8 million in the previous year. Loss from ordinary activities before tax is $4.5 million which is 0.28% higher than the previous year. Loss per basic and diluted share is 5.04 cents in FY2018 which was 5.69 cents a year ago. Net cash used in operating activities is $4.1 million in FY 2018. Cash and cash equivalent of the company increased from $10.3 million in FY2017 to $12.2 million in FY2018. The trade and other receivables increased from $0.09 million in FY2017 to $0.39 million in FY2018. The intangible assets of the company decreased from $3.8 million in FY2017 to $3.5 million in FY2018. The Company is planning to continue building the preclinical data to strengthen the proposition and appeal to potential licensing and development partners.

Meanwhile, the share price has fallen 8.68% in the past three months as at September 20, 2018 and traded at higher level. CYP’s share traded at $1.210 at a market capitalization of $115.75 million as on 21 September 2018.

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