CNTA Centessa Pharmaceuticals plc

18.25
+0.05  (+0%)
Previous Close 18.2
Open 18.34
52 Week Low 17.44
52 Week High 26.9
Market Cap $1,640,664,397
Shares 89,899,419
Float 89,000,772
Enterprise Value $1,637,837,088
Volume 81,641
Av. Daily Volume 133,108
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Upcoming Catalysts

Drug Stage Catalyst Date
ZF874 (Z Factor)
Alpha-1-antitrypsin deficiency (A1ATD)
Phase 1
Phase 1
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SerpinPC (ApcinteX)
Hemophilia A
Phase 2a
Phase 2a
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Drug Pipeline

Drug Stage Notes
Lixivaptan
Autosomal dominant polycystic kidney disease (ADPKD)
Phase 3
Phase 3
Phase 3 trial to commence 1Q 2022.
Imgatuzumab (I-PACE)
Cutaneous squamous cell carcinoma (CSCC)
Phase 2
Phase 2
Phase 2 trial has been initiated.

Latest News

  1. ~ 88% reduction in median Annualized Bleeding Rate (ABR) for all bleeds and 94% reduction in median ABR for spontaneous joint bleeds in highest dose tested ~

    ~ SerpinPC observed to be well-tolerated ~

    ~ Company has initiated planning for global registrational program ~

    ~ Conference call and webcast scheduled for today at 8:30 a.m. EDT ~

    CAMBRIDGE, Mass. and LONDON, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc ("Company") (NASDAQ:CNTA), together with subsidiary ApcinteX Limited ("ApcinteX"), today announced positive topline results from the Phase 2a part of AP-0101, the six-month repeat dose portion of its ongoing first-in-human proof-of-concept study evaluating SerpinPC in severe hemophilia A and B patients.

    AP-0101…

    ~ 88% reduction in median Annualized Bleeding Rate (ABR) for all bleeds and 94% reduction in median ABR for spontaneous joint bleeds in highest dose tested ~

    ~ SerpinPC observed to be well-tolerated ~

    ~ Company has initiated planning for global registrational program ~

    ~ Conference call and webcast scheduled for today at 8:30 a.m. EDT ~

    CAMBRIDGE, Mass. and LONDON, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc ("Company") (NASDAQ:CNTA), together with subsidiary ApcinteX Limited ("ApcinteX"), today announced positive topline results from the Phase 2a part of AP-0101, the six-month repeat dose portion of its ongoing first-in-human proof-of-concept study evaluating SerpinPC in severe hemophilia A and B patients.

    AP-0101 is a Phase 1/2a proof-of-concept study evaluating SerpinPC, an inhibitor of activated protein C ("APC"), in 23 male subjects with either severe hemophilia A or B who were not on prophylaxis.1 The Phase 2a part of the study assessed the safety, tolerability and pharmacokinetics across three dose cohorts (0.3 mg/kg, 0.6 mg/kg and 1.2 mg/kg) of SerpinPC administered as a subcutaneous (SC) injection every 4 weeks over a 24-week period (6 total doses). Reduction in the annualized bleeding rates (ABRs) were exploratory outcomes. Although eligible, none of the patients in the study had inhibitors.

    SerpinPC was well-tolerated. As previously disclosed, one subject with a history of a skin disorder discontinued treatment on SerpinPC due to an injection site reaction. No other SerpinPC-related adverse events have been recorded. There was no reported sustained elevation in D-dimer, a sensitive measure of excess thrombin generation, throughout the 24-week study. Two subjects had anti-drug antibodies and remained on treatment without apparent impact on ABRs.

    In the highest dose cohort, SerpinPC reduced the self-reported all bleeds ABR by 88% during the last 12 weeks of treatment (pre-specified primary assessment period) as compared to the all bleeds ABR prospectively measured during the pre-exposure observation period. In the highest dose cohort, five out of eight subjects had zero or one bleed during the 12-week pre-specified primary assessment period. Self-reported spontaneous joint bleeds ABR was reduced by 94% in the highest dose cohort. ABR reductions were similar between patients with either hemophilia A or hemophilia B.

     Dose Tested
    Exploratory Efficacy Endpoints0.3 mg/kg

    n=7
    0.6 mg/kg

    n=7
    1.2 mg/kg

    n=8
    All Bleeds ABR (median percent change)



    -80%

    p=0.016
    -70%

    p=0.031
    -88%

    p=0.016
    Spontaneous Joint Bleeds ABR (median percent change)-76%

    p=0.016
    -69%

    p=0.031
    -94%

    p=0.023
    Above analyses compared last 12 weeks of treatment (pre-specified primary assessment period) to

    pre-exposure baseline measures. Bleeding events were self-reported.

    p-values presented are based on small numbers and are exploratory in nature.



    The median number of target joints (joint with >3 bleeds in any 6-month period) was reduced to zero at the end of the study from a pre-exposure baseline of 2.5. All subjects had target joints at the start of the study and 15 subjects had zero target joints at the end of the study.

    All 22 patients who completed the Phase 2a portion of the study have elected to enroll into the 48-week open label extension ("OLE") portion of the study in which a single flat 60 mg subcutaneous dose of SerpinPC will be administered every 4 weeks over a period of 48 weeks (13 doses total). Centessa expects to report results from the OLE portion of this study in the second half of 2022.

    "The compelling reduction in bleeds and continued tolerability that we observed in both hemophilia A and hemophilia B patients in this proof-of-concept study are very encouraging, and we are eager to move SerpinPC into a global development plan aimed at pursuing one or more registrations. We see broad utility of SerpinPC across the hemophilia landscape and will seek the most rapid path to bring this potential subcutaneous therapy to hemophilia patients," said Antoine Yver, M.D., M.Sc., Chief Medical Officer of Centessa Pharmaceuticals.

    "The results of this Phase 2a study of SerpinPC continue to show an excellent tolerability profile for this molecule, and the exploratory efficacy results seen in this study of severe hemophilia A and B patients are also very promising. A safe, subcutaneous, prophylaxis option for both hemophilia A and B patients would be an important addition to our treatment choices," said David Lillicrap, M.D., Professor of Pathology and Molecular Medicine at Queen's University, Kingston, Ontario, Canada and previously a World Federation of Hemophilia Advisory Board member.

    ¹ Clinicaltrials.gov identifier: NCT04073498 (https://clinicaltrials.gov/ct2/show/NCT04073498)

    Conference Call and Webcast

    Centessa Pharmaceuticals will host a webcast and conference call today, September 9, 2021, at 8:30 a.m. EDT to discuss topline data from the proof-of-concept trial. To access the audio webcast with slides, please visit the "Events & Publications" page in the Investors & Media section of the Company's website at https://investors.centessa.com/events-presentations. The call can also be accessed by dialing (855) 493-3565 (domestic) or (929) 517-9002 (international) with conference ID 8459296. An archive of today's webcast will be available on the Company's website.

    About Centessa Pharmaceuticals

    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts. Centessa's asset-centric companies' programs range from discovery-stage to late-stage development and include diverse therapeutic areas such as oncology, hematology, immunology/inflammation, neuroscience, hepatology, pulmonology and nephrology. For more information, visit www.centessa.com.

    About ApcinteX Limited

    ApcinteX Limited is focused on developing SerpinPC for the treatment of hemophilia A and hemophilia B. Hemophilia is a rare bleeding disorder that is caused by a deficiency of thrombin generation upon vascular damage.

    About SerpinPC

    SerpinPC, a biologic based on the serpin family of proteins, is designed to allow more thrombin to be generated by inhibiting activated protein C (APC) thus rebalancing coagulation in hemophilia patients. SerpinPC has the potential to treat all types of hemophilia regardless of severity or inhibitor status, and may also prevent bleeding associated with other bleeding disorders.

    About AP-0101

    AP-0101 is an ongoing Phase 1/2a open-label clinical trial to investigate the safety, tolerability and pharmacokinetics of intravenous and subcutaneous doses of SerpinPC in healthy male volunteers and male persons with severe hemophilia (https://clinicaltrials.gov/ct2/show/NCT04073498).

    About Hemophilia A (HA) and Hemophilia B (HB)

    HA and HB are X-linked genetic disorders affecting one in 5,000 and one in 20,000 live male births, respectively, resulting in spontaneous internal bleeding that can be life-threatening. More than 70% of bleeds occur into joints (hemarthrosis) causing chronic joint damage (arthropathy) with musculoskeletal destruction. The bleeding associated with these disorders is the result of a defect or deficiency in factor VIII (in the case of HA) or factor IX (in the case of HB), the two components of the intrinsic tenase complex.

    Normal blood coagulation (hemostasis) is a crucial part of the physiological response to tissue damage. When blood components come into contact with extravascular cells and proteins, platelets accumulate and ultimately lead to the formation of thrombin, the effector enzyme of blood coagulation. Prothrombinase activity is required for the rapid, localized production of thrombin needed for adequate blood clotting. Prothrombinase is continuously degraded by APC, which is present in the circulation at low concentrations. In the setting of deficient intrinsic tenase activity (hemophilia), the natural anticoagulant activity of the circulating APC results in insufficient prothrombinase activity for normal blood clotting.

    Forward Looking Statements 

    This press release contains forward-looking statements. These statements may be identified by words such as "believe," "anticipate," "plan," "expect," "intend," "will," "may," "goal," "project," "estimate," "potential," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements include discussions of the open label extension study of SerpinPC and its design and conduct; plans for continued development of SerpinPC, including our global development plan and registrational path for this candidate; our expectations with respect to the treatment paradigm for hemophilia A and B; our ability to deliver impactful medicines to patients; the ability of our key executives to drive execution of our portfolio of programs; our asset-centric business model and the intended advantages and benefits thereof; research and clinical development plans; the scope, progress, results and costs of developing our product candidates or any other future product candidates; strategy; regulatory matters, including the timing and likelihood of success of obtaining approvals to initiate or continue clinical trials or market any products; market size and opportunity; and our ability to complete certain milestones.

    Any forward-looking statements in this press release are based on our current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the safety, tolerability and efficacy profile of SerpinPC observed to date may change adversely in future clinical trials, ongoing analyses of trial data or subsequent to commercialization; foreign regulatory agencies may not agree with our regulatory approval strategies, components of our filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted; risks inherent in developing products and technologies; risks related to our ability to protect and maintain our intellectual property position; business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about the Company; our ability to obtain adequate financing to fund our planned clinical trials and other expenses; trends in the industry; the legal and regulatory framework for the industry; future expenditures risks related to our asset-centric corporate model; the risk that any one or more of our product candidates will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; and risks related to the COVID-19 pandemic including the effects of the Delta variant. These and other risks concerning our programs and operations are described in additional detail in our most recent Form 10-Q, which is on file with the SEC and available on the SEC's website at www.sec.gov. We operate in a very competitive environment in which new risks emerge from time to time. These forward-looking statements are based on our current expectations, and speak only as of the date hereof. We explicitly disclaim any obligation to update any forward-looking statements except to the extent required by law.

    Contacts:

    Investor Contact:Media Contacts:
    Jennifer Porcelli, Head of Investor RelationsUS
    Centessa PharmaceuticalsDan Budwick, 1AB
    jennifer.porcelli@centessa.comdan@1abmedia.com
      
     UK/Greater Europe
     Mary Clark, Optimum Strategic Communications
     centessa@optimumcomms.com
      
     Switzerland
     Marcus Veith, VEITHing Spirit
     marcus@vspirit.ch
     M: +41 79 20 75 111


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  2. CAMBRIDGE, Mass. & LONDON, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA) announced today that Saurabh Saha, M.D., Ph.D., Chief Executive Officer, will participate in an analyst-led fireside chat at the Morgan Stanley Virtual 19th Annual Global Healthcare Conference on Tuesday, September 14, 2021, beginning at 5:00 p.m. Eastern Time.

    A live audio webcast of this event can be accessed on the investor relations section of the Centessa Pharmaceuticals website at https://investors.centessa.com/events-presentations. Replay of the webcast will be archived on the Company's website for 90 days following the event.

    About Centessa Pharmaceuticals
    Centessa Pharmaceuticals plc aims to bring impactful new medicines to…

    CAMBRIDGE, Mass. & LONDON, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA) announced today that Saurabh Saha, M.D., Ph.D., Chief Executive Officer, will participate in an analyst-led fireside chat at the Morgan Stanley Virtual 19th Annual Global Healthcare Conference on Tuesday, September 14, 2021, beginning at 5:00 p.m. Eastern Time.

    A live audio webcast of this event can be accessed on the investor relations section of the Centessa Pharmaceuticals website at https://investors.centessa.com/events-presentations. Replay of the webcast will be archived on the Company's website for 90 days following the event.

    About Centessa Pharmaceuticals

    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts. Centessa's asset-centric companies' programs range from discovery-stage to late-stage development and include diverse therapeutic areas such as oncology, hematology, immunology/inflammation, neuroscience, hepatology, pulmonology and nephrology. For more information, visit www.centessa.com.

    Contacts:

    Investor Contact:Media Contacts:
    Jennifer Porcelli, Head of Investor RelationsUS
    Centessa PharmaceuticalsDan Budwick, 1AB
    jennifer.porcelli@centessa.comdan@1abmedia.com 
      
     UK/Greater Europe
     Mary Clark & Shabnam Bashir, Optimum Strategic Communications
     centessa@optimumcomms.com 
      
     Switzerland
     Marcus Veith, VEITHing Spirit
     marcus@vspirit.ch
     M: +41 79 20 75 111



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  3. ~ Successful completion of an initial public offering of American Depositary Shares raising gross proceeds of $379.5 million to help advance portfolio of 16 clinical and preclinical programs ~

    ~ Centessa leadership team strengthened through appointment of key industry executives ~

    ~ Programs across Centessa portfolio continue to progress, with new data releases and/or trial initiations anticipated from ApcinteX, Palladio, Z-Factor and Pega-One in the second half of 2021 ~

    CAMBRIDGE, Mass. and LONDON, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA), a clinical-stage company leveraging its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients…

    ~ Successful completion of an initial public offering of American Depositary Shares raising gross proceeds of $379.5 million to help advance portfolio of 16 clinical and preclinical programs ~

    ~ Centessa leadership team strengthened through appointment of key industry executives ~

    ~ Programs across Centessa portfolio continue to progress, with new data releases and/or trial initiations anticipated from ApcinteX, Palladio, Z-Factor and Pega-One in the second half of 2021 ~

    CAMBRIDGE, Mass. and LONDON, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA), a clinical-stage company leveraging its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients, today reported financial results for the quarter ended June 30, 2021, and provided a review of recent accomplishments and anticipated upcoming milestones.

    "Centessa has made significant progress since launch and completion of our $250 million Series A financing in January," said Saurabh Saha, M.D., Ph.D., Chief Executive Officer of Centessa. "The successful execution of our upsized initial public offering in the second quarter has substantially enhanced our resources and will support the advancement of our broad portfolio of assets across our 10 subsidiary companies. This added capital, together with the appointment of exceptional industry leaders in key functional areas across the organization, positions us for continued success. We look forward to sharing our progress, including a planned Phase 2a data update from ApcinteX in the coming weeks."

    Business Updates

    • $379.5 Million Initial Public Offering (IPO) Successfully Completed: In the second quarter, Centessa closed its initial public offering of 16,500,000 American Depositary Shares (ADSs). In addition, the underwriters fully exercised their option to purchase an additional 2,475,000 ADSs at the IPO price of $20.00 per ADS, less underwriting discounts and commissions. The gross proceeds to Centessa from its IPO, before deducting underwriting discounts, commissions and other estimated offering expenses, totaled an aggregate of $379.5 million.



    • Leadership Team Strengthened by Appointment of Key Industry Executives: In May, Centessa announced the leadership appointments of Antoine Yver, M.D., M.Sc., Chief Medical Officer; Tia Bush, Chief Quality Officer; David Chao, Ph.D., Chief Administrative Officer; and Thomas Templeman, Ph.D., Chief Technology Officer. In addition, Marella Thorell was promoted to Chief Accounting Officer, and Carol Stuckley joined the Board of Directors, serving as Chairperson of the Audit Committee. Each of these leaders provides significant expertise in their respective functions and will help drive execution across the Company's portfolio of programs.

    Program Updates and Upcoming Milestones in the Second Half of 2021

    • Topline Phase 2a data from ApcinteX's 24-week repeat dose study evaluating SerpinPC in hemophilia A (HA) and hemophilia B (HB) patients
      • SerpinPC, a first-in-class coagulation rebalancing agent, is a specific inhibitor of activated protein C (APC) being evaluated as a monthly subcutaneous therapeutic for HA and HB patients that has the potential to significantly reduce bleeding rates.
      • The Phase 2a has completed dosing and the Company anticipates sharing topline results in the third quarter of 2021.
      • All subjects who have completed the 24-week repeat dose portion of the study have elected to roll-over into a long-term open-label extension study.
    • Start-up activities have begun for the ACTION Study, Palladio Biosciences' global Phase 3 registrational study of lixivaptan in autosomal dominant polycystic kidney disease (ADPKD)
      • Lixivaptan, a vasopressin V2 receptor antagonist, is being investigated as a potential best-in-class therapy in patients with ADPKD.
      • The Company anticipates dosing the first patient in the registrational ACTION Study in the first quarter of 2022.
      • The Company expects to report ongoing safety data from the initial subjects in the open-label ALERT Study of patients who previously discontinued JYNARQUE® (tolvaptan) due to liver toxicity in the fourth quarter of 2021.
    • Phase 1 data from Z Factor's study evaluating ZF874 for the treatment of alpha-1-antitrypsin deficiency (AATD)
      • ZF874, a small molecule folding corrector of the Z variant of alpha-1-antitrypsin, is designed to increase serum levels of alpha-1-antitrypsin and reduce liver polymer burden to treat or prevent associated lung and liver disease manifestations associated with AATD.
      • The Company anticipates providing an update from an ongoing 28-day repeat dose Phase 1 study in subjects with PiXZ genotype by the end of 2021.



    • Phase 2 trial initiation with Pega-One's imgatuzumab in advanced cutaneous squamous cell carcinoma (CSCC)

      • Imgatuzumab, a non-fucosylated epidermal growth factor receptor (EGFR) targeting monoclonal antibody (mAb), is being investigated as a next-generation EGFR agent with enhanced Antibody-Dependent Cellular Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP) properties to potentially address CSCC.
      • The Company expects to initiate an open label, single arm, Phase 2 trial of imgatuzumab in advanced CSCC by the end of 2021.

    Second Quarter 2021 Financial Results

    Cash Position: Cash and cash equivalents were $613.8 million as of June 30, 2021, compared to $7.2 million for the Centessa Predecessor Group (comprised of Z Factor Limited, LockBody Therapeutics Ltd, and Morphogen-IX Limited, three of the Centessa Subsidiaries acquired in January 2021) as of December 31, 2020. The increase in cash resulted from $344.1 million in net proceeds from the Company's initial public offering completed in June 2021, and the full exercise of the underwriters' option to purchase additional shares, $241.6 million in net proceeds from the Company's Series A financing completed in January 2021, and cash contributed upon the acquisition of the additional Centessa Subsidiaries, net of cash used during the period. Based on the current, non-risk-adjusted operating plan, the Company expects the cash and cash equivalents as of June 30, 2021, to fund its operations until the end of 2023.

    Research & Development (R&D) Expenses: R&D expenses for the Company for the three months ended June 30, 2021, were $18.1 million, compared to $1.9 million for the Centessa Predecessor Group during the three months ended June 30, 2020. The $16.2 million increase is primarily attributable to the growth in the portfolio of product candidates under development following the acquisition of the Centessa Subsidiaries in January 2021, as well as increased spending in the Centessa Predecessor Group.

    General & Administrative (G&A) Expenses: G&A expenses for the Company for the three months ended June 30, 2021. were $11.8 million, compared to $0.3 million for the Centessa Predecessor Group during the three months ended June 30, 2020. The $11.5 million increase is primarily attributable to public company costs, the operating costs of Centessa Pharmaceuticals plc and Centessa Pharmaceutical Inc. including professional fees, personnel costs and share-based compensation expense, and the increase in operating costs resulting from the acquired Centessa Subsidiaries.

    Change in Fair Value of Contingent Value Rights (CVR): The Company recognized a charge of $11.3 million for the three months ended June 30, 2021, compared to $0.0 million for the three months ended June 30, 2020. The CVR, issued at the time of the acquisition, represents future payments (that will be satisfied through the issuance of Centessa shares) that are contingent upon the dosing of the first patient in a registrational Phase 3 study of Palladio Biosciences' lixivaptan. The fair value is based on the cumulative probability of achieving this milestone, which increased during the period resulting in the charge.

    Net Loss: Net Loss attributable to common stockholders for the quarter ended June 30, 2021, was $41.5 million, or $0.65 per share, compared to a net loss of $2.2 million for the Centessa Predecessor Group for the quarter ended June 30, 2020.

    About Centessa Pharmaceuticals

    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts. Centessa's asset-centric companies' programs range from discovery-stage to late-stage development and include diverse therapeutic areas such as oncology, hematology, immunology/inflammation, neuroscience, hepatology, pulmonology and nephrology. For more information, visit www.centessa.com.

    Forward Looking Statements

    This press release contains forward-looking statements. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements including statements related to the Company's ability to deliver impactful medicines to patients; the ability of our key executives to drive execution of the Company's portfolio of programs; our asset-centric business model and the intended advantages and benefits thereof; research and clinical development plans; the scope, progress, results and costs of developing our product candidates or any other future product candidates; strategy; regulatory matters, including the timing and likelihood of success of obtaining approvals to initiate or continue clinical trials or market any products; market size and opportunity; our ability to complete certain milestones; and our current cash position and runway.

    Any forward-looking statements in this press release are based on our current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to our ability to protect and maintain our intellectual property position; business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about the Company; risks inherent in developing products and technologies; future results from our ongoing and planned clinical trials; our ability to obtain adequate financing to fund our planned clinical trials and other expenses; trends in the industry; the legal and regulatory framework for the industry; future expenditures risks related to our asset-centric corporate model; the risk that any one or more of our product candidates will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; and risks related to the COVID-19 pandemic including the effects of the Delta variant. These and other risks concerning our programs and operations are described in additional detail in our registration statement on Form S-1 and our other reports, which are on file with the SEC. We explicitly disclaim any obligation to update any forward-looking statements except to the extent required by law.

    Contacts:

    Investor Contact:Media Contacts:
    Jennifer Porcelli, Head of Investor RelationsUS
    Centessa PharmaceuticalsDan Budwick, 1AB
    jennifer.porcelli@centessa.comdan@1abmedia.com
      
     UK/Greater Europe
     Mary Clark & Shabnam Bashir, Optimum Strategic Communications
     centessa@optimumcomms.com
      
     Switzerland
     Marcus Veith, VEITHing Spirit
     marcus@vspirit.ch
     M: +41 79 20 75 111





    Centessa Pharmaceuticals plc (Successor) and Centessa Predecessor Group (Predecessor)


    Consolidated and Combined Statements of Operations and Comprehensive Loss

    (unaudited)

    (amounts in thousands except share and per share data)

     Successor Predecessor
     Three months

    ended June 30,

    2021
     Period from

    January 30, 2021

    through June 30,

    2021
     Period from

    January 1, 2021

    through

    January 29,

    2021
     Three months

    ended June 30,

    2020
     Six months

    ended


    June 30, 2020
    Operating expenses:         
    Research and development18,134  28,276  600  1,871  4,681 
    General and administrative11,841  17,436  121  258  638 
    Change in fair value of

    contingent value rights
    11,312  11,312       
    Acquired in-process

                  
    research and               
    development —   220,454   —   —   — 
    Loss from operations(41,287) (277,478) (721) (2,129) (5,319)
    Interest income (expense), net27  35  (9) (17) (34)
    Amortization of debt discount    (37) (72) (142)
    Other income (expense), net(191) (2,699)   (10) (12)
    Gain on extinguishment of

    debt
            267 
    Net loss(41,451) (280,142) (767) (2,228) (5,240)
    Other comprehensive loss:         
    Foreign currency translation

                  
    adjustment 1,094   3,315   45   (25  (731)
    Total comprehensive loss$(40,357) $(276,827) $(722) $(2,253) $(5,971)
              
    Net loss per ordinary share -

                 
    basic and diluted (0.65  (4.89)      
    Weighted average ordinary

               
    shares outstanding - basic            
    and diluted63,516,656  57,309,693       





    Centessa Pharmaceuticals plc (Successor) and Centessa Predecessor Group (Predecessor)


    Condensed Consolidated and Combined Balance Sheets

    (unaudited)

    (amounts in thousands except share and per share data)

     Successor Predecessor
     June 30, 2021 December 31, 2020
    Total Assets   
    Cash and cash equivalents$613,759 $7,227
    Other assets29,998 4,490
    Total assets$643,757 $11,717
        
    Total Liabilities   
    Liabilities$24,185 $8,619
    Contingent value rights33,930 
    Total liabilities58,115 8,619
        
    Total combined deficit and shareholders' equity585,642 3,098
    Total liabilities, combined deficit and shareholders' equity$643,757 $11,717

     



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  4. CAMBRIDGE, Mass. and LONDON, June 07, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA) announced today that Saurabh Saha, M.D., Ph.D., Chief Executive Officer, will participate in an analyst-led fireside chat at the Goldman Sachs 42nd Annual Global Healthcare Conference on Tuesday, June 8, 2021, beginning at 5:30 p.m. Eastern Time.

    About Centessa Pharmaceuticals
    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts…

    CAMBRIDGE, Mass. and LONDON, June 07, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc (NASDAQ:CNTA) announced today that Saurabh Saha, M.D., Ph.D., Chief Executive Officer, will participate in an analyst-led fireside chat at the Goldman Sachs 42nd Annual Global Healthcare Conference on Tuesday, June 8, 2021, beginning at 5:30 p.m. Eastern Time.

    About Centessa Pharmaceuticals

    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts. Centessa wholly owns ten of these asset-centric companies. The companies' programs range from discovery-stage to late-stage development and include diverse therapeutic areas such as oncology, hematology, immunology/inflammation, neuroscience, hepatology, pulmonology and nephrology. Centessa's asset-centric companies are overseen by the Centessa management team, which sets overall strategy and direction, provides leadership and expertise, and manages resource allocation and shared infrastructure. For more information, visit www.centessa.com.

    Contacts:

    Investor Contact:Media Contacts:
    Jennifer Porcelli, Head of Investor RelationsUS
    Centessa PharmaceuticalsDan Budwick, 1AB
    jennifer.porcelli@centessa.comdan@1abmedia.com
      
     UK/Greater Europe
     Mary Clark & Shabnam Bashir, Optimum Strategic Communications
     centessa@optimumcomms.com
      
     Switzerland
     Marcus Veith, VEITHing Spirit
     marcus@vspirit.ch
     M: +41 79 20 75 111



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  5. CAMBRIDGE, Mass. and LONDON, June 04, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc ("Centessa"), a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients, announced today that, in connection with its previously announced initial public offering of 16,500,000 American Depositary Shares ("ADSs"), the underwriters have fully exercised their option to purchase an additional 2,475,000 ADSs at the initial public offering price of $20.00 per ADS, less underwriting discounts and commissions. The closing of the initial public offering occurred on June 2, 2021 and the issuance and sale of the additional ADSs closed today. The gross proceeds to…

    CAMBRIDGE, Mass. and LONDON, June 04, 2021 (GLOBE NEWSWIRE) -- Centessa Pharmaceuticals plc ("Centessa"), a clinical-stage company employing its innovative asset-centric business model to discover, develop and ultimately deliver impactful medicines to patients, announced today that, in connection with its previously announced initial public offering of 16,500,000 American Depositary Shares ("ADSs"), the underwriters have fully exercised their option to purchase an additional 2,475,000 ADSs at the initial public offering price of $20.00 per ADS, less underwriting discounts and commissions. The closing of the initial public offering occurred on June 2, 2021 and the issuance and sale of the additional ADSs closed today. The gross proceeds to Centessa from its initial public offering, before deducting underwriting discounts, commissions and other estimated offering expenses, totaled an aggregate of $379.5 million.

    Morgan Stanley, Goldman Sachs & Co. LLC, Jefferies, and Evercore ISI acted as joint book-running managers for the offering.

    A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 27, 2021. The offering was made only by means of a written prospectus. Copies of the final prospectus relating to the initial public offering can be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10012, by telephone at 877-821-7388 or by email at prospectus_department@Jefferies.com; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, or by telephone at (888) 474 0200, or by email at ecm.prospectus@evercore.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Centessa



    Centessa Pharmaceuticals plc aims to bring impactful new medicines to patients by combining the strengths of an asset-centric model with the benefits of scale and diversification typical of larger R&D organizations. The asset-centric model refers to a highly specialized, singular-focused company that is led by a team of well-recognized subject matter experts. Centessa wholly owns ten of these asset-centric companies. The companies' programs range from discovery-stage to late-stage development and include diverse therapeutic areas including oncology, hematology, immunology/inflammation, neuroscience, hepatology, pulmonology and nephrology. Centessa's asset-centric companies are overseen by the Centessa management team, which sets overall strategy and direction, provides leadership and expertise, and manages resource allocation and shared infrastructure.

    Forward-Looking Statements

    This press release contains forward-looking statements. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.

    Any forward-looking statements in this press release are based on our current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, completion of the proposed public offering on the anticipated terms, or at all, market conditions and the satisfaction of customary closing conditions related to the initial public offering. These and other risks concerning our programs and operations are described in additional detail in its registration statement on Form S-1, which is on file with the SEC. We explicitly disclaim any obligation to update any forward-looking statements except to the extent required by law.

    Contacts:

    Investor Contact:Media Contacts:
    Jennifer Porcelli, Head of Investor RelationsUS
    Centessa PharmaceuticalsDan Budwick, 1AB
    jennifer.porcelli@centessa.comdan@1abmedia.com 
      
     UK/Greater Europe
     Mary Clark & Shabnam Bashir, Optimum Strategic Communications
     centessa@optimumcomms.com 
      
     Switzerland
     Marcus Veith, VEITHing Spirit
     marcus@vspirit.ch
     M: +41 79 20 75 111



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