Stockholm - May 17, 2018 - Oncopeptides AB (Nasdaq Stockholm; ONCO) today announced the first quarter 2018 report.
"Important milestones have been achieved in the first quarter"
Summary of Q1
Financial overview January 1 - March 31 2018
- Net sales amounted to 0.0 (0.0) MSEK
- Loss for the period was 62.0 (loss: 62.1) MSEK
- Loss per share, before and after dilution, was 1.56 (loss: 1.89) SEK
- On March 31st cash and cash equivalents amounted to 664.9 (611.6) MSEK
Significant events during the period January 1 – March 31 2018
- In March, the company strengthened its management team with the appointment of Dr Christian Jacques as EVP Clinical Strategy and Chief Scientific Officer
- Ygalo® was granted additional patent protection in Japan in March, providing protection up until 2033
- Oncopeptides completed a directed share issue of approximately 314 MSEK before issue costs (USD 38M) in March
Significant events after the end of the reporting period
- First patient started treatment in the Phase I/II ANCHOR study with Ygalo®
- In April, the company appointed a Clinical Advisory Board consisting of internationally recognized researchers within the field of clinical development of hematology
Financial overview of the group
+————————————————–+———+———+———+
|SEK thousand | 2018| 2017| 2017|
| |Jan – Mar|Jan – Mar|Jan – Dec|
+————————————————–+———+———+———+
|Net sales | -| – | – |
+————————————————–+———+———+———+
|Operating loss | -68,451| -62,083| -247,620|
+————————————————–+———+———+———+
|Loss before tax | -62,032| -62,083| -247,620|
+————————————————–+———+———+———+
|Loss for the period | -62,032| -62,083| -247,620|
+————————————————–+———+———+———+
|Earnings per share before and after dilution (SEK)| -1.56| -1.89| -6.44|
+————————————————–+———+———+———+
|Cash flow from operating activities | -40,547| -67,637| -271,497|
+————————————————–+———+———+———+
|Cash and cash equivalents at the end | 664,944| 611,599| 404,050|
|of the period | | | |
+————————————————–+———+———+———+
|Research & development costs/operating expenses % | 82%| 76%| 80%|
+————————————————–+———+———+———+
Financial calendar
Annual May 17, at 3.00 p.m. CET,
General Tändstickspalatset, Västra Trädgårdsgatan
Meeting 15, Stockholm, Sweden
Interim July 13, 2018
report Q2
Interim October 26, 2018
report Q3
Year-end February 22, 2019
report 2018
For further information
Jakob Lindberg, CEO, Oncopeptides AB
E-mail: jakob.lindberg@oncopeptides.se
Telephone: +46 (0)8 615 20 40
Rein Piir, Head of Investor Relations, Oncopeptides AB
E-mail: rein.piir@oncopeptides.se
Telephone: +46 (0)70 853 72 92
About Oncopeptides
Oncopeptides is a research and development stage pharmaceutical company developing drugs for the treatment of cancer. The company focus on the development of the lead product candidate Ygalo®, an innovative, Peptidase Enhanced Cytotoxic (PEnCs). Ygalo® is intended as an effective treatment of hematological cancers, and in particular multiple myeloma. The current clinical study program is intended to demonstrate better results from treatment with Ygalo® compared with established alternative drugs for patients with late-stage multiple myeloma. Ygalo® will potentially provide physicians with a new treatment option for patients suffering from this serious disease.
For more information visit www.oncopeptides.se.
This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on May 17, 2018.