Chimeric Therapeutics Limited (ASX:CHM) Reports Q4 Activities
Clinical Trials Progress
Chimeric Therapeutics has dosed its first three patients in the Phase 1/2 CHM CDH17 CAR-T cell therapy trial targeting gastrointestinal cancers at US research centres. Additionally, the Phase 1B ADVENT-AML trial has expanded to include newly diagnosed AML patients, aiming to enroll up to 20 participants. The company also reported a complete response in an AML patient 28 days after initiating treatment with CHM CORE-NK and Vactosertib in the Phase 1B trial.
Financial Performance
The company successfully raised $5 million through a two-tranche placement, supporting the CHM CDH17 CAR-T trial and other ongoing programs. Chimeric also received a $4.17 million R&D tax incentive refund from the Australian Government, enhancing its cash position to $5.07 million as of December 31, 2024. Net cash used in operating activities was $0.11 million, while net financing inflows reached $2.03 million.
Executive Appointment
Dr Rebecca McQualter has been appointed as the new Chief Executive Officer. Dr McQualter brings extensive experience from her previous roles at Novartis, Amgen, and GlaxoSmithKline and holds a PhD in Cell Therapy and Regenerative Medicine from Monash University.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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