How Is Chimeric Therapeutics Navigating Clinical Success Amid Cash Pressure?
Chimeric Therapeutics has progressed its CHM CDH17 and CHM CORE-NK clinical trials with promising safety and efficacy signals, while securing a key manufacturing partnership and appointing a renowned haematologist to its board. However, the company faces a pressing cash runway challenge.
- CHM CDH17 trial escalates to dose level 2 with manageable safety profile
- 57% clinical response rate in high-risk AML patients in CHM CORE-NK study
- Appointment of Professor Miles Prince as Non-Executive Director
- Letter of Intent signed with Viral Vector Manufacturing Facility for local lentiviral vector production
- Cash reserves down to $2.4 million with less than half a quarter runway remaining
Clinical Progress and Safety Signals
Chimeric Therapeutics (ASX – CHM) reported significant advancements in its clinical pipeline during the September quarter. The CHM CDH17 Phase 1/2 trial, targeting gastrointestinal and neuroendocrine tumours, has successfully escalated to dose level 2, administering 150 million CAR-T cells. Early data from four patients at this higher dose indicate a manageable safety profile with no off-target or gastrointestinal toxicities, a critical milestone for this first-in-class therapy.
Notably, tumour assessments revealed disease control with reductions in tumour burden ranging from 6% to 37%, and one patient from the lower dose cohort remains in stable disease over 10 months post-treatment. These durable responses underscore the potential of CHM CDH17 to offer meaningful clinical benefit.
Encouraging Outcomes in AML Trial
In parallel, the CHM CORE-NK Phase 1b trial for acute myeloid leukemia (AML) continues to deliver promising results. Presented at a major haematology conference, the study showed that 57% of evaluable high-risk frontline patients achieved clinical responses, including two new complete remissions. The combination therapy with azacitidine and venetoclax maintains a strong safety profile, with no severe toxicities reported.
Strategic Appointments and Partnerships
Chimeric strengthened its leadership with the appointment of Professor Miles Prince, a globally recognised haematologist and pioneer in CAR-T therapy trials, as a Non-Executive Director. His expertise is expected to enhance the company’s clinical development and strategic direction.
Further, the company signed a Letter of Intent with Viral Vector Manufacturing Facility Pty Ltd, partnering to develop and manufacture GMP-grade lentiviral vectors locally. This collaboration aims to bolster Australia’s advanced therapy manufacturing capabilities and support Chimeric’s clinical programs, potentially accelerating production timelines and expanding patient access.
Financial Position and Outlook
Despite these operational advances, Chimeric’s financials reveal a tightening cash position. The company ended the quarter with $2.4 million in cash, down from $5.76 million, following $5.63 million in operating cash outflows primarily driven by research and development and staff costs. With an estimated cash runway of less than half a quarter, the board has implemented cost-cutting measures and is actively exploring capital raising options to sustain operations.
Management emphasises that the recent quarter’s expenditure was unusually high due to focused milestone-driven activities and expects a reduction in cash burn moving forward. The company remains confident in its ability to secure additional funding, either through equity or non-dilutive sources, to continue advancing its pipeline.
Looking Ahead
Chimeric Therapeutics stands at a pivotal juncture, balancing promising clinical progress with urgent financial stewardship. The next phases of clinical data readouts and capital management strategies will be critical to watch as the company seeks to translate its innovative therapies into tangible patient outcomes and shareholder value.
Bottom Line?
Chimeric’s clinical momentum is clear, but its survival hinges on securing fresh capital to extend its runway.
Questions in the middle?
- Will Chimeric secure additional funding before cash reserves run critically low?
- How will the manufacturing partnership with VVMF impact clinical trial timelines and scalability?
- What further efficacy data can be expected from the CHM CDH17 and CORE-NK trials in the near term?