Oncopeptides AB: Interim Report Q2 2019

STOCKHOLM, Aug. 28, 2019 /PRNewswire/ -- Summary

Financial overview April 1 - June 30, 2019

    --  Net sales amounted to SEK 0.0 M (0.0)
    --  Loss for the period was SEK 171.9 M (loss: 144.6)
    --  Loss per share, before and after dilution, was SEK 3.52 (loss: 3.30)
    --  On June 30 cash and cash equivalents amounted to SEK 626.8 M (568.2)

Significant events during the period April 1 - June 30, 2019

    --  In April, melflufen was granted additional patent protection in the US
        until 2033
    --  In April it was announced that the last patient in the OCEAN trial is
        estimated to be enrolled during Q1 2020
    --  In May it was announced that Oncopeptides will apply for accelerated
        approval in the US
    --  In the beginning of June, at ASCO's 2019 Annual Meeting in the United
        States, Oncopep­tides presented new data from the Phase 1/2 study
        called O-12-M1 with melflufen in RRMM patients
    --  At the European Hematology Meeting, EHA in June, Oncopeptides presented
        new data from the pivotal phase 2 study HORIZON with melflufen in RRMM
        patients. New data from the phase 1/2 combination study ANCHOR were also
        presented at the conference
    --  In June, Oncopeptides resolved to make a directed share issue of SEK 727
        M before issue costs (approximately USD 78 M). The share issue was
        completed in July

Significant events after the reporting period

    --  In late August it was announced that Klaas Bakker was appointed as the
        new Chief Medical Officer for Oncopeptides. He starts his work in
        November

Financial overview of the group




                                     2019 Apr -Jun 2018             2019 Jan -Jun  2018              2018
                                                      [1]                            [1]
       Jan -     [1]
       Jan -
                                                          Apr -Jun                   Jun              Dec

                        SEK thousand





            Net sales                  
            -      
            -    
            -          
         -          
         -




             Operating loss               -171,739         -144,651       -305,551          -205,053          -410,963




             Loss before tax              -171,864         -144,651       -305,810          -205,053          -410,965




             Loss for the period          -171,944         -144,651       -306,021          -205,053          -411,112




             Earnings per share
              before and after
              dilution (SEK)                 -3.52            -3.30          -6.35             -4.91             -9.58




             Cash flow from
              operating activities        -122,997          -90,060       -265,818          -130,607          -333,727




             Cash and cash
              equivalents at the
              end of the period            626,799          568,212        626,799           568,212           375,617




    Research & development
     costs/operating
     expenses %                              77%             69%           78%              75%              76%

([1]) Earlier periods have been adjusted to reflect correction of errors, see note 8.

Conference call for investors, analysts and the media

The Interim Report Q2 2019 and an operational update will be presented by CEO Jakob Lindberg and members of Oncopeptides management team, Wednesday August 28, 2019 at 15:00 (CET). The conference call will also be streamed via a link on the website: www.oncopeptides.com.

Phone numbers for participants from:
Sweden: +46-8-505-583-59
Europe: +44-3333-009-032
USA: +1-833-823-05-90

Financial calendar

Interim Report Q3, 2019: November 19, 2019
Year-end Report 2019: February 20, 2020

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 August 28, 2019.

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 novel lipophilic peptide conjugated alkylator, belonging to a new class of drugs called Peptidase Enhanced Cytotoxics (PEnC). Melflufen is in development as a new treatment for the hematological cancer multiple myeloma, including the Phase 2 pivotal trial HORIZON currently underway and a global confirmatory Phase 3 trial (OCEAN) continuing enrollment. Oncopeptides' headquarters is located 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.

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 was brought to you by Cision http://news.cision.com

https://news.cision.com/oncopeptides-ab/r/interim-report-q2-2019,c2889931

The following files are available for download:



     
     https://mb.cision.com/Main/15404/2889931/1096373.pdf            The full report (PDF)



     
     https://mb.cision.com/Public/15404/2889931/8f02a22583c0834a.pdf Press release (PDF)

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SOURCE Oncopeptides AB