August 25, 2017
Stockholm, Sweden – Oncopeptides AB (Nasdaq Stockholm; ONCO) today announced the second quarter 2017 report.
”It is gratifying that our pivotal Phase III study OCEAN commenced during the quarter, according to our strategic plan. This is a milestone for Ygalo® and for us as a company, and takes us one step closer to making Ygalo® available for late-stage multiple myeloma patients.” said Jakob Lindberg, CEO of Oncopeptides.
SUMMARY OF Q2
April 1st – June 30th 2017
- Net sales amounted to 0.0 (0.0) MSEK
- Loss for the period was 67.3 (loss: 23.5) MSEK
- Loss per share, before and after dilution, was 1.69 (loss: 1.19) SEK
- On June 30th cash and cash equivalents amounted to 535.1 (15.9) MSEK
Significant events during the period April 1st to June 30th 2017
- In June, the first patient was dosed in the pivotal phase III study OCEAN. The study is targeting Late-Stage Relapsed Refractory (RRMM) patients with Multiple Myeloma.
The study is designed as a head-to-head comparative study where the result will show whether Ygalo® is more effective, just as effective, or less effective than the current standard of care treatment option pomalidomide for RRMM patients
FINANCIAL OVERVIEW OF THE GROUP (SEK thousand):
|Financial overview of the group (SEK thousand)|
|Apr - Jun||Apr - Jun||Jan - Jun||Jan - Jun||Jan - Dec|
|Loss before tax||-67,260||-23,483||-129,343||-38,727||-114,446|
|Loss for the period||-67,260||-23,483||-129,343||-38,727||-114,446|
|Earnings per share before and after dilution (SEK)||-1.69||-1.19||-3.54||-2.01||-4.88|
|Cash flow from operating activities||-72,023||-19,538||-139,660||-32,669||-104,262|
|Cash and cash equivalents at the end of the period||535,069||15,919||535,069||15,919||40,251|
|Research & development costs/operating expenses %||74%||90%||75%||88%||78%|
|Interim Report Q3 2017
||November 15th 2017|
|Full Year Report 2017
||February 22nd 2018|
For further information, please contact:
Jakob Lindberg, CEO for Oncopeptides AB
Tel: +46 8 615 20 40
Rein Piir, Head of Investor Relations for Oncopeptides AB
Tel: +46 70 853 72 92
This information that Oncopeptides AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the persons above, 08.00 am CET on august 25th 2017.
Oncopeptides is a research and development stage pharmaceutical company developing drugs for the treatment of cancer. Since the founding of the company the focus has primarily been on the development of the lead product candidate Ygalo®, an innovative, peptidase-potentiated alkylator intended for effective and focused treatment of hematological cancers, and in particular multiple myeloma. Ygalo® is intended to demonstrate better results from treatment compared to established alternative drugs in the treatment of patients with multiple myeloma. Ygalo® could potentially provide physicians with a new treatment option for patients suffering from this serious disease.