Oncopeptalks on Q1 sales and MENA partnership

Watch the latest episode of Oncopeptalks where Sofia Heigis, CEO, and David Augustsson, Head of IR, discusses the recent announcement of net sales for the first quarter and collaboration with Vector Pharma to commercialize Oncopeptides’ flagship drug Pepaxti in the Middle East and North Africa (MENA) region.

Read the Q1 sales press release here.

Read the MENA partnership press release here.

Also see the Q&A for investors below.

Questions and answers for investors on Q1 sales

Why are you releasing the sales figures now?

Due to the ongoing rights issue process, there can be no so called insider information during the time period until the rights issue is completed. Therefore, Oncopeptides are required to make public its sales for the first quarter, which we deem to be insider information.

Does the long-term financial plan of the company remain as previously communicated?

Yes. While sales are stable relative to the previous quarter, the overall market for multiple myeloma has been challenging during the first quarter due to seasonal effects, and we remain confident that sales will accelerate during 2024 and beyond for us to reach our long-term goal to become profitable by the end of 2026.

What exactly do you mean by seasonal effects?

In order for an older, frail patient to receive a drug such as Pepaxti, they should be as healthy as possible. The seasonal flu and other infections that are more common during the winter months in the beginning of the year, might temporarily hamper the ability for patients to receive the drug.

Have you seen similar effects for competing drugs?

Yes, based on the sales data we have access to up until end of February, most of the competing drugs in the late line setting have seen flat or even shrinking sales figures during Q1, 2024.

Will you continue to release sales figures at the end of the quarter?

At this time we have no such plans, mainly due to the fact that a financial report contains more information than just sales and we would like to provide the market with a holistic overview of our financial position by the end of each quarter, in line with standard practice for exchange listed companies.