Context Therapeutics® Reports Third Quarter 2021 Operating and Financial Results
Entered into $31.25 million Private Placement Agreement
Completed Initial Public Offering of Common Stock and Raised $28.75 million in Gross Proceeds
Dosed First Patient in Phase 2 ER+, PR+, HER2- Metastatic Breast Cancer Clinical Trial
PHILADELPHIA, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (Nasdaq: CNTX), a women’s oncology company developing small molecule and immunotherapy treatments to transform care for breast and gynecological cancers, today announced financial results for the third quarter ended September 30, 2021, and highlighted recent corporate accomplishments.
“This is a pivotal time for Context, as we debuted on Nasdaq and entered into a $31.25 million private placement agreement that extends our cash runway into 2024. We also strengthened our leadership team with the addition of Chief Financial Officer Jennifer Minai-Azary and Chief Legal Officer Alex Levit, who was instrumental in bringing our company public,” said Martin Lehr, CEO of Context Therapeutics. “Additionally, the clinical evaluation of our lead product candidate onapristone extended release (ONA-XR) continues to progress, with three Phase 2 clinical trials and one Phase 1b/2 clinical trial in hormone-driven breast, ovarian and endometrial cancers currently enrolling patients. We also recently entered into a research collaboration and license agreement with Integral Molecular for the development of an anti-claudin 6 (CLDN6) bispecific monoclonal antibody (BsMAb) for gynecologic cancer immunotherapy. We look forward to early data from several of the ONA-XR clinical trials in 2022, as we continue our work to demonstrate its potential to make a meaningful difference for patients with hormone-driven women’s cancers.”
Third Quarter 2021 and Recent Corporate Highlights
Third Quarter Financial Highlights
2021 Financial Guidance
Context expects that its cash and cash equivalents, including the net proceeds from its IPO and expected proceeds from its private placement, will be sufficient to fund its operations into 2024.
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