Transgene (TNG) Q3 2024 earnings summary

Executive summary

• TG4050 Phase I data in adjuvant head and neck cancer show all 16 treated patients remain disease-free after 24.1 months, with robust immune responses; Phase II enrollment ongoing.

• TG4001 Phase II trial in HPV16-positive cancers did not meet primary endpoint, but a cervical cancer subgroup showed a positive efficacy trend; further analyses underway.

• BT-001 oncolytic virus demonstrated tumor regression in patients unresponsive to prior anti-PD(L)1 therapy; combination with pembrolizumab showed efficacy in 2 of 6 patients.

• TG6050 Phase I trial in advanced NSCLC completed first two dose levels; initial data expected H1 2025.

Financial highlights

• Operating revenue for the first nine months of 2024 was €5.0 million, down from €6.2 million in 2023, mainly due to the end of the AstraZeneca collaboration.

• Cash, cash equivalents, and other financial assets totaled €14.0 million as of September 30, 2024, compared to €15.7 million at year-end 2023.

• Cash burn for the first nine months of 2024 was €31.3 million, up from €13.8 million in the same period of 2023, reflecting the absence of proceeds from the Tasly BioPharmaceuticals share sale.

Outlook and guidance

• Financial visibility is confirmed into Q4 2025, supporting continued portfolio progress and news flow over the next 12 months.

• TG4050 Phase II enrollment is progressing well; initial TG6050 data expected in H1 2025.