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

• Enrollment continues in Period 1 dose-escalation IMMUNICY-1 demo for direct shRNA-dependent allogeneic Motor vehicle T candidate, CYAD-211, for relapsed/refractory a number of myeloma (r/r MM)

• Dialogue proceeds with regulatory companies about CYAD-101-002 Phase 1b demo, which remains on scientific maintain

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

Celyad Oncology SA (Brussels:CYAD) (Paris:CYAD) (NASDAQ:CYAD) (Euronext & Nasdaq: CYAD) (the “Firm”), a scientific-stage biotechnology company centered on the discovery and improvement of chimeric antigen receptor T mobile (Automobile T) therapies for most cancers, currently declared an update on its money effects and modern company developments for the fiscal quarter finished March 31, 2022.

“The initially quarter of 2022 brought us each challenges and chances that we are facing head-on. Even though we keep on to investigate the new developments in the CYAD-101 Section 1b demo, we are producing great development with our shRNA-primarily based allogeneic packages, such as CYAD-211, for which we anticipate saying additional information all through the next half of the yr,” commented Filippo Petti, Main Government Officer of the Business. “We are really grateful for our hardworking workforce and the support of our shareholders even though we advance towards our milestones for the year and even more boost our allogeneic Car or truck T investigational therapies with our proprietary non gene edited systems.”

Update on Clinical and Preclinical Systems

CYAD-211 – Allogeneic shRNA-dependent, anti-BCMA Motor vehicle T applicant for r/r MM

Tale carries on

CYAD-101 – Allogeneic TIM-based, NKG2D Vehicle T Applicant for Metastatic Colorectal Cancer (mCRC)

• In February 2022, the Organization voluntarily paused the Section 1b trial of CYAD-101 right after two fatalities transpired that introduced with very similar pulmonary findings. Subsequently, in March 2022, the Corporation was educated by the U.S. Food stuff and Drug Administration that the CYAD-101-002 Phase 1b trial experienced been put on clinical hold.

• The Enterprise proceeds to investigate these conclusions in the CYAD-101-002 Period 1b trial and is analyzing any similar situations in added sufferers handled in the research, although also working with correct regulatory authorities. The Corporation expects to provide additional updates on the demo in the foreseeable future.

shRNA Armored Car (shARC) Franchise

• Study continues in numerous discovery plans targeted on the co-expression of Interleukin-18 (IL-18) in conjunction with our shorter hairpin RNA (shRNA) know-how platform, also recognized as our shARC (shRNA Armored Vehicle) franchise.

• In April, the Enterprise made a decision to cease the enhancement of CYAD-203, an allogeneic shRNA-centered, IL-18-armored NKG2D Vehicle T prospect next the examination of preclinical info from many investigational new drug software (IND)-enabling experiments. The Business continues to check out again-up allogeneic NKG2D receptor Car or truck T candidates currently in discovery stage that leverage the Company’s shARC platform.

Initial Quarter 2022 Money Critique

As of March 31, 2022, the Company had money and hard cash equivalents of €20.6 million ($23. million). Internet income burn up all through the initial quarter of 2022 amounted to €9.4 million ($10.5 million), in line with anticipations. The Firm confirms its past direction that its present income and money equivalents, put together with the remaining access to the equity acquire agreement established with Lincoln Park Cash Fund, LLC, must be sufficient to fund functioning expenses and capital expenditure prerequisites right until mid-2023.

Monetary Calendar

Initial 50 percent 2022 Monetary Benefits …………………… August 5, 2022

Third Quarter 2022 Financial Final results ……………….. November 10, 2022

About Celyad Oncology SA

Celyad Oncology SA is a clinical-stage biotechnology company centered on the discovery and development of chimeric antigen receptor T mobile (Vehicle T) therapies for cancer. The Company is developing a pipeline of allogeneic (off-the-shelf) and autologous (individualized) Motor vehicle T cell remedy candidates for the treatment method of the two hematological malignancies and stable tumors. Celyad Oncology was started in 2007 and is centered in Mont-Saint-Guibert, Belgium and New York, NY. The Company has obtained funding from the Walloon Location (Belgium) to aid the improvement of its Vehicle T cell therapy packages. For more data, please take a look at www.celyad.com.

Ahead-seeking statements

This launch includes ahead-looking statements, within the that means of applicable securities laws, which includes the Private Securities Litigation Reform Act of 1995, as amended. Ahead-wanting statements incorporate, without the need of limitation, statements pertaining to: the CYAD-101-002 trial, together with the clinical keep, the timing and results of more facts from Stage 1 IMMUNICY-1 demo of CYAD-211, security and clinical exercise of the solution candidates in Celyad Oncology’s pipeline, Celyad Oncology’s monetary ailment and dollars runway, and predicted benefits of functions and company outlook. The terms “may perhaps,” “may possibly,” “will,” “could,” “would,” “ought to,” “approach,” “anticipate,” “intend,” “consider,” “assume,” “estimate,” “potential,” “probable,” “continue,” “concentrate on” and identical words and phrases or expressions are meant to discover forward-seeking statements, while not all ahead-wanting statements include these pinpointing words and phrases. Ahead-hunting statements are primarily based on management’s present-day expectations and could contain known and unknown risks and uncertainties which may well cause true final results, economical ailment, performance or achievements of Celyad Oncology to differ materially from those people expressed or implied by such forward-searching statements. This sort of chance and uncertainty features, with no limitation: the timing, length and consequence of the scientific hold on the CYAD-101-002 Period 1b trial, Celyad Oncology’s skill to carry on to entry to the fairness acquire settlement with Lincoln Park Money Fund, LLC, our money and operating final results, the length and severity of the COVID-19 pandemic, and world-wide financial uncertainty, together with with regard to geopolitical disorders and attendant sanctions ensuing from the conflict in Ukraine. A even further record and description of these dangers, uncertainties and other hazards can be discovered in Celyad Oncology’s U.S. Securities and Trade Commission (SEC) filings and reports, which includes in the most up-to-date Annual Report on Sort 20-F submitted with the SEC, and subsequent filings and reviews of Celyad Oncology. These forward-seeking statements discuss only as of the date of publication of this doc and Celyad Oncology’s precise benefits may possibly differ materially from these expressed or implied by these forward-hunting statements. Celyad Oncology expressly disclaims any obligation to update any forward-searching statements in this doc to mirror any adjust in its expectations with regard thereto or any modify in activities, conditions or instances on which any this kind of statement is dependent, unless of course essential by legislation or regulation.

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Contacts

Trader and Media Speak to:

Sara Zelkovic
Communications & Investor Relations Director
Celyad Oncology
[email protected]