Transgene Announces Positive Q1 2024 Update and Future Clinical Milestones

Transgene (Euronext Paris: TNG), a prominent biotech company specializing in virus-based immunotherapies for cancer treatment, today revealed substantial progress in its clinical programs and maintains robust financial footing through Q4 2025. The announcement includes promising Phase I results for TG4050 in treating head and neck cancer, with a Phase II trial set to commence shortly.

The Phase I data from TG4050 demonstrated significant clinical benefit in the adjuvant treatment of high-risk head and neck cancer patients, with a strong immune response observed across the majority of participants. These findings were presented at AACR 2024, showing a notable improvement in disease-free survival compared to the control group.

For 2024, Transgene has outlined key milestones, including the start of Phase II trials for TG4050 and the expected release of preliminary results from several other ongoing clinical trials. Additionally, the company reported a controlled net cash burn with €13.7 million in cash reserves as of March 31, 2024, underpinned by an amended credit facility agreement that ensures financial stability till the end of 2025.

Transgene's operating revenue during Q1 2024 slightly increased to €1.7 million, primarily supported by government funding for research expenditures. This steady financial inflow supports their ongoing and future clinical trials, crucial for the company’s strategic advancements.