Celyad Oncology Announces First Quarter 2022 Financial Results and Recent Business Highlights

• Enrollment carries on in Period 1 dose-escalation IMMUNICY-1 trial for direct shRNA-based mostly allogeneic Automobile T applicant, CYAD-211, for relapsed/refractory many myeloma (r/r MM)

• Dialogue continues with regulatory businesses regarding CYAD-101-002 Phase 1b demo, which continues to be on medical keep

MONT-SAINT-GUIBERT, Belgium, Could 05, 2022–(Organization WIRE)–Regulatory Information:

This replaces the announcement created at 22:01 CEST on 5 May due to the adhering to corrections: Current ‘First Quarter 2022 Economical Review’ area.

CELYAD ONCOLOGY ANNOUNCES Initial QUARTER 2022 Money Outcomes AND Recent Business enterprise HIGHLIGHTS

Celyad Oncology SA (Euronext & Nasdaq: CYAD) (the “Firm”), a clinical-phase biotechnology business centered on the discovery and development of chimeric antigen receptor T cell (Motor vehicle T) therapies for cancer, nowadays declared an update on its financial effects and new business developments for the fiscal quarter finished March 31, 2022.

“The to start with quarter of 2022 brought us both of those problems and options that we are struggling with head-on. When we continue to investigate the the latest developments in the CYAD-101 Period 1b trial, we are building great progress with our shRNA-based allogeneic applications, like CYAD-211, for which we anticipate saying additional information all through the next 50 % of the year,” commented Filippo Petti, Main Govt Officer of the Company. “We are genuinely grateful for our hardworking team and the assist of our shareholders while we advance to our milestones for the calendar year and further increase our allogeneic Automobile T investigational therapies with our proprietary non gene edited technologies.”

Update on Scientific and Preclinical Applications

CYAD-211 – Allogeneic shRNA-centered, anti-BCMA Car T candidate for r/r MM

Tale carries on

CYAD-101 – Allogeneic TIM-dependent, NKG2D Automobile T Applicant for Metastatic Colorectal Most cancers (mCRC)

• In February 2022, the Corporation voluntarily paused the Section 1b demo of CYAD-101 after two fatalities transpired that introduced with comparable pulmonary results. Subsequently, in March 2022, the Firm was informed by the U.S. Meals and Drug Administration that the CYAD-101-002 Period 1b demo had been positioned on scientific hold.

• The Organization continues to investigate these findings in the CYAD-101-002 Section 1b trial and is assessing any related events in further individuals dealt with in the examine, though also performing with suitable regulatory authorities. The Corporation expects to offer extra updates on the demo in the future.

shRNA Armored Car (shARC) Franchise

• Exploration proceeds in numerous discovery applications concentrated on the co-expression of Interleukin-18 (IL-18) in conjunction with our brief hairpin RNA (shRNA) technological innovation system, also known as our shARC (shRNA Armored Car) franchise.

• In April, the Organization made the decision to end the development of CYAD-203, an allogeneic shRNA-primarily based, IL-18-armored NKG2D Car or truck T prospect following the examination of preclinical information from numerous investigational new drug application (IND)-enabling scientific studies. The Enterprise carries on to examine back again-up allogeneic NKG2D receptor Motor vehicle T candidates now in discovery stage that leverage the Company’s shARC platform.

Very first Quarter 2022 Fiscal Review

As of March 31, 2022, the Corporation experienced funds and hard cash equivalents of €20.5 million ($22.9 million). Internet money burn off in the course of the to start with quarter of 2022 amounted to €9.5 million ($10.6 million), in line with anticipations. The Corporation confirms its preceding direction that its current hard cash and dollars equivalents, blended with the remaining obtain to the equity purchase settlement founded with Lincoln Park Funds Fund, LLC, should be enough to fund functioning expenditures and money expenditure prerequisites until finally mid-2023.

Monetary Calendar

1st 50 % 2022 Money Success …………………… August 5, 2022
3rd Quarter 2022 Fiscal Benefits ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a medical-phase biotechnology corporation targeted on the discovery and development of chimeric antigen receptor T mobile (Vehicle T) therapies for most cancers. The Firm is creating a pipeline of allogeneic (off-the-shelf) and autologous (personalised) Motor vehicle T cell treatment candidates for the therapy of the two hematological malignancies and stable tumors. Celyad Oncology was launched in 2007 and is centered in Mont-Saint-Guibert, Belgium and New York, NY. The Organization has been given funding from the Walloon Location (Belgium) to aid the improvement of its Car T cell remedy plans. For extra details, please take a look at www.celyad.com.

Ahead-searching statements

This release has forward-searching statements, within just the this means of relevant securities guidelines, like the Private Securities Litigation Reform Act of 1995, as amended. Ahead-on the lookout statements include, without limitation, statements relating to: the CYAD-101-002 demo, which includes the medical hold, the timing and outcomes of additional details from Section 1 IMMUNICY-1 trial of CYAD-211, safety and clinical activity of the merchandise candidates in Celyad Oncology’s pipeline, Celyad Oncology’s financial condition and hard cash runway, and predicted final results of functions and business enterprise outlook. The text “may possibly,” “may,” “will,” “could,” “would,” “should really,” “program,” “anticipate,” “intend,” “consider,” “count on,” “estimate,” “long run,” “opportunity,” “go on,” “concentrate on” and comparable phrases or expressions are intended to detect forward-seeking statements, whilst not all forward-wanting statements incorporate these determining words and phrases. Ahead-searching statements are dependent on management’s latest expectations and may well include recognised and unknown pitfalls and uncertainties which may well cause real final results, monetary ailment, effectiveness or achievements of Celyad Oncology to differ materially from those expressed or implied by this kind of ahead-seeking statements. Such risk and uncertainty includes, with out limitation: the timing, period and result of the clinical maintain on the CYAD-101-002 Section 1b trial, Celyad Oncology’s capacity to continue on to entry to the equity obtain agreement with Lincoln Park Capital Fund, LLC, our monetary and working success, the duration and severity of the COVID-19 pandemic, and global financial uncertainty, which includes with respect to geopolitical situations and attendant sanctions resulting from the conflict in Ukraine. A even more listing and description of these threats, uncertainties and other pitfalls can be uncovered in Celyad Oncology’s U.S. Securities and Trade Fee (SEC) filings and experiences, like in the most recent Once-a-year Report on Type 20-F submitted with the SEC, and subsequent filings and experiences of Celyad Oncology
. These forward-seeking statements converse only as of the date of publication of this document and Celyad Oncology’s genuine effects could differ materially from those expressed or implied by these ahead-searching statements. Celyad Oncology expressly disclaims any obligation to update any forward-wanting statements in this document to reflect any adjust in its expectations with regard thereto or any modify in occasions, conditions or instances on which any these assertion is based, until expected by regulation or regulation.

Perspective resource variation on businesswire.com: https://www.businesswire.com/information/dwelling/20220505006197/en/

Contacts

Traders and Media:
Sara Zelkovic
Communications & Trader Relations Director
Celyad Oncology
[email protected]