Oncopeptides AB: Interim Report Q2 2020

STOCKHOLM, Aug. 26, 2020 /PRNewswire/ --

Summary

Financial overview April 1 - June 30, 2020

    --  Net sales amounted to SEK 0.0 M (0.0)
    --  Loss for the period was SEK 401.0 M (loss: 171.9)
    --  Loss per share, before and after dilution, was SEK 6.79 (loss: 3.52)
    --  On June 30 cash and cash equivalents amounted to SEK 937.8 M (626.8)

Significant events during the period April 1 - June 30, 2020

    --  Marty J Duvall was appointed CEO from July 1, and Jakob Lindberg assumed
        the role as
    --  Chief Scientific Officer
    --  NDA for accelerated approval of melflufen in the U.S was submitted
    --  A laboratory for preclinical development was taken over to strengthen
        the technology platform and build the company's pipeline
    --  A directed share issue of SEK 1,414 M (USD 144 M) (before issue costs)
        to well-known life science investors, out of which SEK 716.4 M (before
        issue costs) was paid in after the end of the reporting period was
        completed
    --  Enrollment in the OCEAN phase 3 study continues after the initial
        recruitment goal of 450 patients was reached in May
    --  Final data from the pivotal HORIZON study were presented at EHA
    --  Patient enrollment to the company's exploratory clinical studies was
        resumed in May after a temporary pause due to the COVID-19 pandemic

Significant events after the reporting period

    --  The first patient was enrolled in the phase 1/2 AL-Amyloidosis study.
        This is the first study with melflufen in an indication outside multiple
        myeloma
    --  Oncopeptides started a phase 2 study called PORT to evaluate an
        alternative administration of melflufen

Financial overview of the group


                                                              2020               2019                2020                 2019                 2019
                                                 
     Apr - Jun       
     Apr - Jun        
     Jan - Jun         
     Jan - Jun         
     Jan - Dec

            
              SEK thousand

    ---


            Net sales

    ---


            Operating loss                               -399,332           -171,739            -696,208             -305,551             -739,392

    ---


            Loss before tax                              -399,542           -171,864            -696,869             -305,810             -739,920

    ---


            Loss for the period                          -401,041           -171,944            -698,370             -306,021             -740,705

    ---

             Earnings per share before and after
              dilution (SEK)                                 -6.79              -3.52              -12.20                -6.35               -14.33

    ---

             Cash flow from operating activities          -285,665           -122,997            -598,506             -265,818             -690,566

    ---

             Cash and cash equivalents at the
              end of the period                            937,773            626,799             937,773              626,799              926,186

    ---

    Research & development costs/
     operating expenses %                                    57%               77%                63%                 78%                 74%

    ---

Conference call for investors, analysts and the media
The Interim Report Q2 2020 and an operational update will be presented by CEO Marty J Duvall and members of Oncopeptides management team, Wednesday August 26, 2020 at 14:00 (CET). The conference call will also be streamed via a link on the website: www. oncopeptides.com.

Phone numbers for participants from:
Sweden: +46-8-566-427-06
Europe: +44-3333-009-274
USA: +1-833-249-84-07

Financial calendar
Interim Report Q3, 2020: November 19, 2020
Year-end Report 2020: February 18, 2021
Interim Report Q1 2021: May 26, 2021
Annual General Meeting 2021: May 26, 2021

For further information
Marty J Duvall
CEO
Oncopeptides AB
E-mail: marty.duvall@oncopeptides.com

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 August 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 peptide-drug conjugate (PDC) that targets aminopeptidases and rapidly releases alkylating agents into tumor cells. Melflufen (melphalan flufenamide) is in development as a new treatment for the hematological malignancy multiple myeloma and is currently being tested in multiple clinical studies including the pivotal phase 2 HORIZON study and the ongoing phase 3 OCEAN study. Based on the results from the HORIZON study Oncopeptides has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration, FDA, for accelerated approval of melflufen in combination with dexamethasone for treatment of adult patients with triple-class refractory multiple myeloma. Oncopeptides' headquarters is in Stockholm, Sweden with its U.S. headquarters in Boston, Mass. The company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO. More information is available on www.oncopeptides.com.

For more information please visit www.oncopeptides.com.

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

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The following files are available for download:



     
     https://mb.cision.com/Main/15404/3181260/1297322.pdf            The full report (PDF)



     
     https://mb.cision.com/Public/15404/3181260/9e43edad09844073.pdf Press release (PDF)

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SOURCE Oncopeptides AB