Press release
INTERIM REPORT Q4 2019
Summary
Financial overview October 1 – December 31, 2019
- Net sales amounted to SEK 0.0 M (0.0)
- Loss for the period was SEK 244,9 M (loss: 112.0)
- Loss per share, before and after dilution, was SEK 4.42 (loss: 2.54)
- On December 31 cash and cash equivalents amounted to SEK 926.2 M (375.6)
Significant events during the period October 1 – December 31, 2019
- In early December, an advisory meeting was held with the FDA is preparing for Oncopeptides’application for accelerated market approval
- At the annual American Hematology Meeting (ASH) in December, Oncopeptides presented updated efficacy and safety data from the pivotal phase 2 study HORIZON in RRMMnpatients and promising data from the phase 2 combination study ANCHOR
- At the ASH meeting it was also presented preclinical data regarding melflufen for AL amyloidosis, which forms the basis for the clinical program where the patient recruitment has started
- In the process of preparing for a potential launch in the United States, Joseph Horvat was appointed as President North America
- At an Extraordinary General Meeting in December, it was resolved to issue warrants and to extend the board’s authorization to issue shares
Financial overview of the group
| SEK thousand | 2019 Oct – Dec |
20181) Oct – Dec |
2019 Jan – Dec |
20181) Jan – Dec |
| Net sales | – | – | – | – |
| Operating loss | -244,244 | -111,859 | -739,392 | -410,963 |
| Loss before tax | -244,400 | -111,861 | -739,392 | -410,965 |
| Loss for the period | -244,904 | -112,008 | -740,705 | -411,112 |
| Earnings per share before and after dilution (SEK) |
-4.42 | -2.54 | -14.33 | -9.58 |
| Cash flow from operating activities | -216,974 | -108,855 | -690,566 | -333,727 |
| Cash and cash equivalents at the end of the period |
926,186 | 375,617 | 926,186 | 375,617 |
| Research & development costs/ Operating expenses % |
64% | 81% | 74% | 76% |
1) Earlier periods have been adjusted to reflect correction of errors, see note 7.
Conference call for investors, analysts and the media
The Interim Report Q4 2019 and an operational update will be presented by CEO Jakob Lindberg and members of Oncopeptides management team, Thursday February 20, 2020 at 14.00 (CET).
The conference call will also be streamed via a link on the website: www.oncopeptides.com
Phone numbers for participants from:
Sweden: +46 8 505 583 56
Europe: +44 3333 009 031
USA: +1 833 526 83 82
Financial calendar
Interim Report Q1, 2020: May 26, 2020
Annual General Meeting May 26, 2020
Interim Report Q2, 2020: August 26, 2020
Interim Report Q3, 2020: November 19, 2020
For further information
Jakob Lindberg, CEO, Oncopeptides AB
E-mail: jakob.lindberg@oncopeptides.com
Telephone: +46 (0)8 615 20 40
Rein Piir, Head of Investor Relations, Oncopeptides AB
E-mail: rein.piir@oncopeptides.com
Telephone: +46 (0)70 853 72 92
This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on February 20, 2020.
About Oncopeptides
Oncopeptides is a pharmaceutical company focused on the development of targeted therapies for difficult-to-treat hematological cancers. The company is focusing on the development of the lead product candidate melflufen, a first-in-class peptide-drug conjugate that rapidly delivers a cytotoxic payload into tumor cells. Melflufen is in development as a new treatment for the hematological cancer multiple myeloma and is currently being tested in four clinical trials including the pivotal Phase 2 HORIZON trial and the ongoing Phase 3 OCEAN trial. Oncopeptides’ headquarters is in Stockholm, Sweden, and the company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO.
For more information please visit www.oncopeptides.com.