May 26, 2020   SOURCE: PR NewsWire

Oncopeptides AB: Interim Report Q1 2020

STOCKHOLM, May 26, 2020 /PRNewswire/ -- Financial overview January 1 - March 31, 2020

    --  Net sales amounted to SEK 0.0 M (0.0)

    --  Loss for the period was SEK 297.3 M (loss: 134.1)

    --  Loss per share, before and after dilution, was SEK 5.37 (loss: 2.82)

    --  On March 31 cash and cash equivalents amounted to SEK 617.8 M (747.5)

Significant events during the period January 1 - March 31, 2020

    --  Top line results from the company's pivotal phase 2 study HORIZON were
        presented and showed a 26% Overall Response Rate (ORR) of melflufen in
        triple-class refractory multiple myeloma patients

    --  The Lancet Haematology published detailed results from Oncopeptides
        international multi¬center study, O-12-M1

    --  Oncopeptides announced that COVID-19 will not affect the company's
        pivotal studies sig¬nificantly while recruitment to explorative studies
        and initiating new studies will temporar¬ily be paused

    --  The company strengthened its management team with several new senior
        executives

Significant events after the reporting period

    --  In May, Oncopeptides completed a directed share issue of SEK 1,414
        million (144 MUSD) before issue costs

    --  The enrollment in the pivotal phase 3 study OCEAN was successfully
        completed in May including 450 patients from more than 100 hospitals
        around the world

Financial overview of the group


                          2020 Jan -Mar                          2019 Jan -Dec

                                        
     20191) Jan - Mar


             Net
              sales


              Operating
              loss             -296,876                 -133,812        -739,392


             Loss
              before
              tax              -297,327                 -133,946        -739,920


             Loss
              for
              the
              period           -297,329                 -134,077        -740,705


              Earnings
              per
              share
              before
              and
              after
              dilution
              (SEK)               -5.37                    -2.82          -14.33




             Cash
              flow
              from
              operating
              activities       -312,841                 -142,821        -690,566


             Cash
              and
              cash
              equivalents
              at
              the
              end
              of
              the
              period            617,786                  747,471         926,186


     Research
     &
     development
     costs/
     operating
     expenses
     %                             72%                     80%            74%

1) Earlier periods have been adjusted to reflect correction of errors, see note 6.

Conference call for investors, analysts and the media

The Interim Report Q1 2020 and an operational update will be presented by CEO Jakob Lindberg and members of Oncopeptides management team, Tuesday May 26, 2020 at 10:00 (CET). The conference call will also be streamed via a link on the website: www.oncopeptides.com.

Phone numbers for participants from:

Sweden: +46-8-505-583-57

Europe: +44-3333-009-271

USA: +1-833-526-83-98

Financial calendar

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 May 26, 2020.

About Oncopeptides

Oncopeptides is a pharmaceutical company focused on the development of targeted therapies for difficult-to-treat hematological diseases. The company is focusing on the development of the lead product candidate melflufen, a first-in-class anti-cancer peptide-drug conjugate that rapidly delivers an alkylating payload into tumor cells. Melflufen (melphalan flufenamide) is in development as a new treatment for the hematological cancer multiple myeloma and is currently being evaluated in multiple clinical studies including the pivotal phase 2 HORIZON study and the ongoing phase 3 OCEAN study. Oncopeptides' headquarters is in Stockholm, Sweden with U.S. headquarters in Boston, Mass. The company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO.

For more information please visit www.oncopeptides.com.

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

https://news.cision.com/oncopeptides-ab/r/interim-report-q1-2020,c3119486

The following files are available for download:



     
     https://mb.cision.com/Main/15404/3119486/1253315.pdf            The full report (PDF)



     
     https://mb.cision.com/Public/15404/3119486/9b31ac3c6188b047.pdf Press release (PDF)

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SOURCE Oncopeptides AB