LONDON, June 08, 2018 (GLOBE NEWSWIRE) -- ASLAN presented data at ASCO from a Phase Ib dosing study examining varlitinib in combination with carboplatin, paclitaxel and Herceptin. Patients were enrolled across a range of cancers, but the majority (20/37) were HER2+ metastatic breast cancer patients. The drug demonstrated efficacy across the study and the addition of Herceptin at the optimal dose did not induce toxicity, suggesting the potential of future combinations.
We have increased our valuation to $364m (NT$11.0bn) from $308m (NT$9.3bn), although it is lower on a per-share basis: $11.04 per ADS (NT$66.68 per ordinary share) compared to $11.83 (NT$71.85) previously. We arrive at estimated net cash (Q118 + offering + greenshoe) of $70.2m. We expect the company to require $60m in additional capital to reach profitability in 2021.
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