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Chemomab Reports New Peer-Reviewed Publication Reinforcing the Clinical Association of Its CCL24 Target with Disease Severity and Mortality in Patients with Systemic Sclerosis
Newsfilter· 2024-04-18 11:00
—Longitudinal Study of a 200+ Real-World Patient Cohort Further Validates CCL24 as a Novel Target for Systemic Sclerosis (SSc), Showing that It is Associated with Disease Severity Across the Fibrotic and Vascular Manifestations of SSc— TEL AVIV, Israel, April 18, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (NASDAQ:CMMB), (Chemomab), a clinical stage biotechnology company developing innovative therapeutics to treat rare fibro-inflammatory diseases with high unmet need, today announced the publication ...
Chemomab to Host Virtual Key Opinion Leader Webinar on Primary Sclerosing Cholangitis on April 10, 2024
Newsfilter· 2024-04-02 11:00
—"Breaking New Ground: Expert Perspectives on Primary Sclerosing Cholangitis" Will Feature Clinical, Academic and Patient Advocacy Leaders Discussing PSC Disease Management and Evolving Views on Clinical Development— TEL AVIV, Israel, April 02, 2024 (GLOBE NEWSWIRE) -- Chemomab Therapeutics Ltd. (NASDAQ:CMMB), (Chemomab), a clinical stage biotechnology company developing innovative therapeutics to treat rare fibro-inflammatory diseases with high unmet need, today announced it will host a live key opinion le ...
Chemomab Therapeutics(CMMB) - 2023 Q4 - Annual Report
2024-03-28 10:03
In connection with the war, several hundred thousand Israeli military reservists were called up to service. With the exception of one employee, all of our Israeli personnel (including employees, consultants and directors) are exempt from military reserve duty, including our Chief Executive Officer and Chief Financial Officer. The single employee who was called up has since returned to work. As of the date of this annual report, we have not experienced any impact to patient treatment visits in accordance wit ...
Chemomab Therapeutics to Report Fourth Quarter and Full Year 2023 Financial Results and Provide a Business Update
Prnewswire· 2024-02-14 12:00
TEL AVIV, Israel, Feb. 14, 2024 /PRNewswire/ -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB), (Chemomab), a clinical stage biotechnology company developing innovative therapeutics for fibro-inflammatory diseases with high unmet need, today announced the company will issue a press release reporting its fourth quarter and full year 2023 financial results and providing a business update on March 7, 2024, at 7:00 am Eastern Time. Investors who would like to discuss the financial results or business update after th ...
Chemomab Therapeutics to Participate in Upcoming Investor Conferences
Prnewswire· 2024-02-05 12:00
TEL AVIV, Israel, Feb. 5, 2024 /PRNewswire/ -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB) (Chemomab), a clinical stage biotechnology company focused on the discovery and development of innovative therapeutics for fibro-inflammatory diseases with high unmet need, today announced that CEO Dr. Adi Mor and other members of its senior management team will participate in two upcoming investor conferences. Dr. Mor will deliver a corporate presentation and participate  in one-on-one investor meetings at the Oppenhei ...
Chemomab Therapeutics Announces New Publication Reinforcing the Clinical Potential of Its CCL24-Neutralizing Antibody CM-101 in Primary Sclerosing Cholangitis
Prnewswire· 2024-01-30 12:00
—Proteomic Analysis of Human Samples Highlights the Unique Role of CCL24 in Activating Key PSC-related Disease Mechanisms Involving Immune Cell Trafficking and HSC Activation, Further Confirming the Potential of Chemomab's CCL24-Neutralizing Antibody CM-101 as a Promising Therapy for PSC— —CM-101 Phase 2 PSC Trial Has Completed Patient Enrollment with Topline Data Readout Targeted for Midyear 2024—  TEL AVIV, Israel, Jan. 30, 2024 /PRNewswire/ -- Chemomab Therapeutics Ltd. (Nasdaq: CMMB) (Chemomab), a clini ...
Chemomab Therapeutics(CMMB) - 2023 Q3 - Quarterly Report
2023-11-08 16:00
Chemomab Therapeutics Ltd. and its subsidiaries As of September 30, 2023 Chemomab Therapeutics Ltd. and its subsidiaries Condensed Consolidated Interim Balance Sheets F-3 Condensed Consolidated Interim Statements of Changes in Equity F-5 Notes to the Condensed Consolidated Interim Financial StatementsF-8 - F-11 Contents The accompanying notes are an integral part of the condensed consolidated interim financial statements (*) 1 American Depositary Share (ADS) represents 20 Ordinary Shares The accompanying no ...
Chemomab Therapeutics(CMMB) - 2023 Q2 - Quarterly Report
2023-08-13 16:00
[Condensed Consolidated Interim Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) This section presents Chemomab Therapeutics' financial position, operational performance, equity changes, and cash flows for the interim period, along with explanatory notes on its business, accounting policies, and contingencies [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2023, total assets decreased to **$28.8 million** from **$43.1 million**, with shareholders' equity declining to **$22.0 million** Balance Sheet Summary (in USD thousands) | Financial Item | June 30, 2023 (Unaudited) | December 31, 2022 (Audited) | | :--- | :--- | :--- | | Cash and cash equivalents | 10,382 | 13,519 | | Short term bank deposits | 16,207 | 26,374 | | **Total Assets** | **28,849** | **43,063** | | Total current liabilities | 6,825 | 6,749 | | **Total Liabilities** | **6,858** | **6,840** | | Accumulated deficit | (80,542) | (63,819) | | **Total Shareholders' Equity** | **21,991** | **36,223** | - The number of issued and outstanding Ordinary Shares increased from **232,636,700** as of December 31, 2022, to **248,058,700** as of June 30, 2023[17](index=17&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the six months ended June 30, 2023, net loss increased to **$16.7 million** from **$11.3 million** in 2022, driven by higher research and development expenses Statement of Operations Highlights (in USD thousands) | Metric | Six months Ended June 30, 2023 | Six months Ended June 30, 2022 | | :--- | :--- | :--- | | Research and development | 11,907 | 5,659 | | General and administrative | 5,337 | 5,915 | | **Total operating expenses** | **17,244** | **11,574** | | **Net loss for the period** | **16,723** | **11,294** | | **Basic and diluted loss per Share** | **0.076** | **0.050** | - For the three months ended June 30, 2023, the net loss was **$8.0 million**, compared to a net loss of **$6.2 million** for the same period in 2022[6](index=6&type=chunk) [Condensed Consolidated Statements of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) Shareholders' equity decreased from **$36.2 million** to **$22.0 million** by June 30, 2023, primarily due to net loss, partially offset by share issuance Changes in Shareholders' Equity (Six months ended June 30, 2023, in USD thousands) | Description | Amount | | :--- | :--- | | Balance as of January 1, 2023 | 36,223 | | Net loss for the period | (16,723) | | Share-based compensation | 1,123 | | Issuance of shares, net | 1,368 | | **Balance as of June 30, 2023** | **21,991** | - For the six months ended June 30, 2022, total shareholders' equity decreased from **$61.5 million** to **$51.8 million**[21](index=21&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$14.7 million** for the six months ended June 30, 2023, while investing activities provided **$10.2 million** Cash Flow Summary (Six months ended June 30, in USD thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | (14,672) | (9,412) | | Net cash provided by investing activities | 10,164 | 4,109 | | Net cash provided by financing activities | 1,368 | 22 | | **Change in cash, cash equivalents and restricted cash** | **(3,140)** | **(5,281)** | | Cash, cash equivalents and restricted cash at end of period | 10,456 | 9,960 | [Notes to the Condensed Consolidated Interim Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) These notes provide context on the company's operations, accounting policies, contingencies, and liquidity outlook through December 2024 [Note 1 - General](index=9&type=section&id=Note%201%20-%20General) This note outlines the company's clinical-stage status, funding reliance, liquidity outlook, executive changes, and ATM share issuance activities - The company is a clinical-stage biotech focused on developing therapeutics for conditions involving inflammation and fibrosis, with no products approved for sale and operations funded by shareholders[57](index=57&type=chunk)[13](index=13&type=chunk) - Management believes existing liquidity as of June 30, 2023, will fund operations through **December 31, 2024**, with potential for cost reductions to extend this runway[13](index=13&type=chunk) - On June 1, 2023, Dr. Adi Mor was appointed CEO and Sigal Fattal CFO, replacing previous executives, with a **$1.11 million** provision for severance payments recorded[42](index=42&type=chunk) - Through June 30, 2023, the company issued **1,470,906** ADSs under its At the Market (ATM) Agreement, generating gross proceeds of **$17.3 million**[28](index=28&type=chunk) [Note 2 - Basis of Presentation and Significant Accounting Policies](index=10&type=section&id=Note%202%20-%20Basis%20of%20Presentation%20and%20Significant%20Accounting%20Policies) This note details the unaudited nature of the financial statements, adherence to U.S. GAAP and SEC regulations, and consistency of accounting policies - The condensed interim consolidated financial statements are unaudited and prepared in accordance with **U.S. GAAP** and **SEC** regulations for interim reporting[43](index=43&type=chunk) - Preparation of these financial statements requires management to make estimates and assumptions that could differ materially from actual results[59](index=59&type=chunk) - There have been no changes to the company's significant accounting policies since the Annual Report for the year ended December 31, 2022[43](index=43&type=chunk) [Note 3 - Contingencies](index=10&type=section&id=Note%203%20-%20Contingencies) This note addresses the ongoing VAT audit by the Israeli Tax Authority, including the company's appeal against the assessment - The Israeli Tax Authority (**ITA**) initiated a routine **VAT** audit for tax years **2017-2020**, raising claims regarding the recoverability of VAT on merger-related expenses[30](index=30&type=chunk) - The company rejected an ITA settlement offer, received an assessment, and appealed it in **November 2022**, with the final outcome remaining uncertain despite a provision recorded in 2022[30](index=30&type=chunk)
Chemomab Therapeutics(CMMB) - 2023 Q1 - Earnings Call Transcript
2023-05-14 15:20
Chemomab Therapeutics Ltd. (NASDAQ:CMMB) Q1 2023 Earnings Conference Call May 11, 2023 8:00 AM ET Company Participants Barbara Lindheim - Consulting Vice President Investor & Public Relations Dale Pfost - Chairman & Chief Executive Officer Adi Mor - Co-Founder and Chief Scientific Officer Matt Frankel - Chief Medical Officer, Vice President of Drug Development Don Marvin - Chief Financial Officer, Executive Vice President & Chief Operating Officer Conference Call Participants Kristen Kluska - Cantor Fitzge ...
Chemomab Therapeutics(CMMB) - 2023 Q1 - Quarterly Report
2023-05-10 16:00
[PART I. – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This chapter presents the company's unaudited condensed consolidated interim financial statements, reflecting a **net loss of 8,753 thousand USD** for Q1 2023 and **total assets of 35,013 thousand USD** as of March 31, 2023, with ongoing operational losses and no approved products - The company is a clinical-stage biotechnology firm with no approved products for sale, primarily funded by shareholders, and has incurred operating losses every year since inception[16](index=16&type=chunk)[150](index=150&type=chunk) [Condensed Consolidated Interim Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Interim%20Balance%20Sheets) As of March 31, 2023, total assets decreased to **35,013 thousand USD** from **43,063 thousand USD** at year-end 2022, primarily due to reduced short-term bank deposits, while total liabilities slightly increased to **7,059 thousand USD**, and shareholders' equity declined to **27,954 thousand USD** due to accumulated losses Key Balance Sheet Items (in thousand USD) | Item | March 31, 2023 (Unaudited) | December 31, 2022 (Audited) | | :--- | :--- | :--- | | Cash and cash equivalents | 20,765 | 13,519 | | Total current assets | 33,778 | 41,736 | | **Total assets** | **35,013** | **43,063** | | Total current liabilities | 6,997 | 6,749 | | **Total liabilities** | **7,059** | **6,840** | | **Total shareholders' equity** | **27,954** | **36,223** | [Condensed Consolidated Interim Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Operations) Net loss for Q1 2023 significantly increased by **71%** to **8,753 thousand USD** from **5,104 thousand USD** in the prior year, primarily driven by a **151% surge in R&D expenses** to **6,887 thousand USD**, resulting in a **basic and diluted loss per share of 0.040 USD** Summary of Operating Results (in thousand USD, except per share amounts) | Item | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Research and development expenses | 6,887 | 2,745 | | General and administrative expenses | 2,162 | 2,575 | | **Operating loss** | **9,049** | **5,320** | | **Net loss** | **8,753** | **5,104** | | Basic and diluted loss per share | 0.040 USD | 0.022 USD | [Condensed Consolidated Interim Statements of Cash Flow](index=12&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flow) Net cash used in operating activities increased by **94%** to **7,186 thousand USD** in Q1 2023 due to expanded net loss, while net cash provided by investing activities surged to **14,432 thousand USD** from bank deposit withdrawals, increasing total cash, cash equivalents, and restricted cash to **20,842 thousand USD** at period-end Summary of Cash Flows (in thousand USD) | Item | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | (7,186) | (3,711) | | Net cash provided by investing activities | 14,432 | 2,382 | | Net cash provided by financing activities | - | - | | **Change in cash, cash equivalents, and restricted cash** | **7,246** | **(1,329)** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operating results, highlighting its focus on developing innovative therapies for fibrotic and inflammatory diseases with lead product CM-101 in Phase 2 clinical studies, ongoing losses, and reliance on external financing, with current cash projected to fund operations until June 30, 2024 [Overview](index=15&type=section&id=Overview) Chemomab is a clinical-stage biotechnology company focused on developing innovative therapies for fibrotic and inflammatory diseases, with its lead candidate CM-101, a monoclonal antibody targeting CCL24, currently in Phase 2 clinical studies for rare diseases like Primary Sclerosing Cholangitis (PSC) and Systemic Sclerosis (SSc) - The company is a clinical-stage biotechnology firm focused on discovering and developing innovative therapies for fibrotic and inflammatory diseases[127](index=127&type=chunk) - The company's lead clinical candidate, **CM-101**, is a first-in-class humanized monoclonal antibody designed to attenuate the fundamental function of **CCL24** (eotaxin-2) as a key regulator of inflammatory and fibrotic pathways[105](index=105&type=chunk) - The company is conducting a **Phase 2 clinical study of CM-101 in Primary Sclerosing Cholangitis (PSC)** and plans to initiate a **Phase 2 clinical trial in Systemic Sclerosis (SSc)** in mid-2023[105](index=105&type=chunk)[157](index=157&type=chunk) [Recent Developments](index=16&type=section&id=Recent%20Developments) The company reported positive topline results from its **Phase 2a liver fibrosis biomarker trial of CM-101 in NASH patients**, meeting primary safety and tolerability endpoints and showing encouraging activity across multiple fibrosis-related biomarkers, alongside **FDA approval for its IND application** to conduct a **Phase 2 trial of CM-101 in Systemic Sclerosis (SSc) patients** - On January 3, 2023, the company reported positive topline results from its **Phase 2a liver fibrosis biomarker trial of CM-101 in NASH patients**, meeting the primary endpoints of safety and tolerability[31](index=31&type=chunk)[130](index=130&type=chunk) - In the NASH trial, nearly **60% of CM-101 treated patients showed improvement in at least three biomarkers**, compared to no patients in the placebo group[19](index=19&type=chunk) - On February 21, 2023, the company reported **FDA approval of its Investigational New Drug (IND) application** to conduct a **Phase 2 trial of CM-101 in adult Systemic Sclerosis (SSc) patients**[30](index=30&type=chunk)[158](index=158&type=chunk) [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Operating loss for Q1 2023 increased by **70%** to **9,049 thousand USD** from **5,320 thousand USD** in the prior year, primarily due to a **151% surge in R&D expenses** to **6,887 thousand USD** driven by increased clinical and preclinical activities, while general and administrative expenses decreased by **16%** Operating Performance Comparison (in thousand USD) | Item | Q1 2023 | Q1 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development expenses | 6,887 | 2,745 | 4,142 | 151% | | General and administrative expenses | 2,162 | 2,575 | (413) | (16)% | | **Operating loss** | **9,049** | **5,320** | **3,729** | **70%** | | **Net loss** | **8,753** | **5,104** | **3,649** | **71%** | - Research and development expenses increased by approximately **4,100 thousand USD (151%)**, primarily due to increased clinical and preclinical activities[41](index=41&type=chunk) - General and administrative expenses decreased by approximately **400 thousand USD (16%)**, mainly due to lower non-cash share-based compensation and insurance expenses[26](index=26&type=chunk) [Liquidity and Capital Resources](index=20&type=section&id=Liquidity%20and%20Capital%20Resources) Since inception, the company has generated no revenue and incurred continuous operating losses, accumulating **73,000 thousand USD** in deficits as of March 31, 2023, primarily funding operations through equity securities sales, with existing cash projected to support operations until June 30, 2024, though substantial additional financing will be required for future clinical trials and potential commercialization - As of March 31, 2023, the company had accumulated **73,000 thousand USD in deficits**, with operations primarily funded by the sale of ADS and other equity securities[27](index=27&type=chunk) - The company believes its existing liquidity resources as of March 31, 2023, will enable it to fund operations until **June 30, 2024**[16](index=16&type=chunk)[169](index=169&type=chunk) Summary of Cash Flow Activities (in thousand USD) | Item | March 2023 | March 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (7,186) | (3,711) | (3,475) | (94)% | | Net cash provided by investing activities | 14,432 | 2,382 | 12,050 | 506% | | Net increase (decrease) in cash, cash equivalents, and restricted cash | 7,246 | (1,329) | 8,575 | (645)% | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) As an emerging growth company, the company is not required to provide information under this item - The company is an emerging growth company and is therefore not required to provide information under this item[69](index=69&type=chunk) [Item 4. Controls and Procedures](index=23&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no significant changes in internal control over financial reporting during the most recent fiscal quarter - Management concluded that the company's disclosure controls and procedures were **effective as of March 31, 2023**[50](index=50&type=chunk) - No changes in the company's internal control over financial reporting occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[51](index=51&type=chunk) [PART II. – OTHER INFORMATION](index=24&type=section&id=PART%20II.%20%E2%80%93%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=24&type=section&id=Item%201.%20Legal%20Proceedings) Management believes there are no pending claims or litigation that could have a material adverse effect on the company's operating results, financial position, or cash flows - Management believes there are no pending claims or litigation whose ultimate outcome could have a material adverse effect on the company's operating results, financial condition, or cash flows[53](index=53&type=chunk) [Item 1A. Risk Factors](index=24&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred compared to the information disclosed in the 'Item 1A. Risk Factors' section of the company's 2022 Annual Report - No material changes have occurred compared to the information listed in the 'Item 1A. Risk Factors' section of the company's 2022 Annual Report[54](index=54&type=chunk) [Other Information Items](index=24&type=section&id=Other%20Information%20Items) This section covers other statutory disclosures, confirming no unregistered sales of equity securities, material defaults on senior securities, mine safety disclosures, or other reportable information not otherwise disclosed, and lists required exhibits and certifications filed with this quarterly report - During the period covered by this report, the company had no unregistered sales of equity securities, material defaults on senior securities, mine safety disclosures, or other information required to be reported[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk) - The report includes required exhibits such as executive certifications and XBRL data files[78](index=78&type=chunk)