Kintara Therapeutics Publicizes Fiscal 2022 Monetary Outcomes and Supplies Company Replace

SAN DIEGO, Sept. 27, 2022 /PRNewswire/ — Kintara Therapeutics, Inc. (Nasdaq: KTRA) (“Kintara” or the “Firm”), a biopharmaceutical firm targeted on the event of recent strong tumor most cancers therapies, right now introduced monetary outcomes for its fiscal yr ended June 30, 2022 and offered a company replace.

CORPORATE HIGHLIGHTS AND RECENT DEVELOPMENTS

• Introduced that three posters had been accepted for knowledge presentation on the 2022 Society for Neuro-Oncology (“SNO”) Annual Assembly.  The 2022 SNO Annual Assembly will likely be held from November 16 by means of November 20, 2022 in Tampa, Florida (September).
• Obtained a Research Could Proceed letter from the USA Meals and Drug Administration (“FDA”) to start a 15-patient examine evaluating REM-001 Photodynamic Remedy (“PDT”) for the therapy of cutaneous metastatic breast most cancers (“CMBC”). This examine is meant to assist within the design of a deliberate Section Three registrational examine (August).
• Entered into a purchase order settlement with Lincoln Park Capital Fund, LLC (“Lincoln Park“), pursuant to which Lincoln Park has dedicated to buy as much as $20.Zero million of shares of the Firm’s widespread inventory, topic to the satisfaction of the situations contained within the settlement as effectively sure limitations contained therein (August).
• Obtained discover from the FDA that the Firm was granted Quick Observe Designation for VAL-083 for the therapy of sufferers with newly-diagnosed, unmethylated glioblastoma (“GBM”) (June).
• Obtained written notification from the Itemizing Qualification Division of The Nasdaq Inventory Market LLC (“Nasdaq”) granting the Firm’s request for a 180-day extension to regain compliance with Nasdaq’s minimal bid worth requirement. The Firm has till November 28, 2022 to fulfill the requirement (June).
• Introduced that the Firm’s first European web site, College Hospital Zurich in Zurich, Switzerland, had been activated for the VAL-083 therapy arm within the International Coalition for Adaptive Analysis (“GCAR”) registrational Section 2/Three scientific trial for GBM, titled Glioblastoma Adaptive International Modern Studying Atmosphere (“GBM AGILE Research”) (Could).

“This final quarter was a really productive quarter – on the financing facet we put in place a $20.Zero million fairness facility with Lincoln Park to assist bolster our steadiness sheet. On the regulatory entrance we obtained our second Quick Observe Designation from the FDA for VAL-083 and the GBM-AGILE Research continues to exceed our expectations,” commented Robert E. Hoffman, Kintara’s President and Chief Government Officer. “Shifting our REM-001 CMBC program again into the clinic can also be an essential step for us to ship on our mission of serving most cancers sufferers the place there’s a clear unmet medical want. We consider we stay on observe to start out enrolling sufferers within the CMBC examine across the finish of September 2022.”

SUMMARY OF FINANCIAL RESULTS FOR FISCAL YEAR ENDED JUNE 30, 2022

At June 30, 2022, Kintara had money and money equivalents of roughly $11.Eight million. Throughout the yr ended June 30, 2022, the Firm accomplished two registered direct choices for combination internet proceeds to the Firm of roughly $21.6 million.

For the yr ended June 30, 2022, Kintara reported a internet lack of roughly $22.7 million, or $0.52 per share, in comparison with a internet lack of roughly $38.Three million, or $1.60 per share, for the yr ended June 30, 2021. The decreased internet loss for the yr ended June 30, 2022 in comparison with the yr ended June 30, 2021 was largely as a result of recognition of $16.1 million of non-cash bills associated to the acquisition of in-process analysis and growth prices related to the Adgero transaction in August 2020.

Chosen Steadiness Sheet Information (in hundreds)

Chosen Assertion of Operations Information (in hundreds, besides per share knowledge)

For the years ended 

Kintara’s monetary statements as filed with the U.S. Securities Alternate Fee may be seen on the Firm’s web site at: http://ir.kintara.com/sec-filings.

ABOUT KINTARA

Positioned in San Diego, California, Kintara is devoted to the event of novel most cancers therapies for sufferers with unmet medical wants. Kintara is creating two late-stage, Section 3-ready therapeutics for clear unmet medical wants with lowered danger growth applications.  The 2 applications are VAL-083 for GBM and REM-001 for CMBC.

VAL-083 is a “first-in-class”, small-molecule chemotherapeutic with a novel mechanism of motion that has demonstrated scientific exercise in opposition to a spread of cancers, together with central nervous system, ovarian and different strong tumors (e.g., NSCLC, bladder most cancers, head and neck) in U.S. scientific trials sponsored by the Nationwide Most cancers Institute (“NCI”). Based mostly on Kintara’s inner analysis applications and these prior NCI-sponsored scientific research, Kintara is at the moment advancing VAL-083 within the GBM AGILE Research to assist the event and commercialization of VAL-083 in GBM.

Kintara can also be advancing its proprietary, late-stage PDT platform that holds promise as a localized cutaneous, or visceral, tumor therapy in addition to in different potential indications. REM-001 remedy has been beforehand studied in 4 Section 2/Three scientific trials in sufferers with CMBC who had beforehand obtained chemotherapy and/or failed radiation remedy. With scientific efficacy so far of 80% full responses of CMBC evaluable lesions, and with an current strong security database of roughly 1,100 sufferers throughout a number of indications, Kintara is advancing the REM-001 CMBC program to late-stage pivotal testing.

For extra data, please go to www.kintara.com or comply with us on Twitter at @Kintara_Thera, Fb and Linkedin.

SAFE HARBOR STATEMENT

Any statements contained on this press launch that don’t describe historic info could represent forward-looking statements as that time period is outlined within the Personal Securities Litigation Reform Act of 1995, together with statements relating to the standing of the Firm’s scientific trials and the GBM AGILE Research. Any forward-looking statements contained herein are primarily based on present expectations however are topic to numerous dangers and uncertainties.  The components that might trigger precise future outcomes to vary materially from present expectations embrace, however will not be restricted to, dangers and uncertainties regarding the end result of the Firm’s scientific trials and the GBM AGILE Research, the affect of the COVID-19 pandemic on the Firm’s operations and scientific trials; the Firm’s skill to develop, market and promote merchandise primarily based on its know-how; the anticipated advantages and efficacy of the Firm’s merchandise and know-how; the provision of considerable extra funding for the Firm to proceed its operations and to conduct analysis and growth, scientific research and future product commercialization; and, the Firm’s enterprise, analysis, product growth, regulatory approval, advertising and marketing and distribution plans and techniques.  These and different components are recognized and described in additional element within the Firm’s filings with the SEC, together with the Firm’s Annual Report on Type 10-Ok for the yr ended June 30, 2022, the Firm’s Quarterly Reviews on Type 10-Q, and the Firm’s Present Reviews on Type 8-Ok.

CONTACTS

IR@kintara.com

View unique content material to obtain multimedia:https://www.prnewswire.com/news-releases/kintara-therapeutics-announces-fiscal-2022-financial-results-and-provides-corporate-update-301633816.html

SOURCE Kintara Therapeutics