Targovax ASA: third quarter 2020 results
OSLO, Norway, Nov. 5, 2020 /PRNewswire/ -- Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, today announces its third quarter 2020 results.
An online presentation by Targovax's management to investors, analysts and the press will take place at 10:00 CET today (details below).
RECENT HIGHLIGHTS
-- Announced that the ONCOS-102 and Imfinzi (durvalumab) trial successfully
completed part 1 in colorectal cancer. The pre-defined disease control
efficacy threshold in the colorectal cancer cohort was met and the part
2 has opened for recruitment of 14 additional patients.
-- Announced that an abstract on the mesothelioma trial has been accepted
and will be presented at the Society for Immunotherapy of Cancer (SITC)
35th Anniversary Annual Meeting, 9 -14 November 2020. The abstract
presents the 12-month analysis of biomarkers and clinical outcome from
the phase I/II trial in malignant pleural mesothelioma where ONCOS-102
is added to standard of care chemotherapy (pemetrexed / cisplatin). This
analysis supports the data previously presented in June.
-- Completed a private placement, raising gross proceeds of approximately
NOK 75 million (USD 8 million). The Private Placement attracted strong
interest from existing shareholders and new institutional investors,
both in the Nordics and internationally, and the transaction was
oversubscribed multiple times.
-- Announced grant of European Patent no 3293201 by the European Patent
Office. The patent covers the use of ONCOS-102 in combination with
checkpoint inhibitors until 2036.
-- Formed a new Scientific Advisory Board (SAB), consisting of a group of
world-renowned experts in immuno-oncology research and drug development
carefully selected to act as advisors to guide the Targovax R&D
strategy.
Øystein Soug, CEO commented: "As the end of 2020 is approaching, we are entering a period of intensive data analysis and reporting from our ongoing ONCOS-102 clinical program. Important efficacy and immune marker readouts from our two Targovax-sponsored ONCOS-102 trials in mesothelioma and melanoma are due late in the year. In October we reported that the pre-defined threshold for clinical benefit was met in the colorectal cancer cohort of the ONCOS-102 and Imfinzi collaboration trial. The second part of this trial has now been opened for recruitment, and results are expected in about a year's time. As we wrap up these phase I/II clinical trials, we are in parallel planning the next steps for ONCOS-102 development and expanding our pre-clinical pipeline to shape our future R&D programs."
Presentation
As a consequence of the Corona situation, there will not be a physical presentation of the results. Instead, we invite to a live webcast today at 10.00 CET. You can join the webcast here. It will be possible to ask questions during the presentation.
Reporting material
Targovax 3Q 2020 - report
Targovax 3Q 2020 - presentation
The quarterly report and presentation are also available at the website www.targovax.com.
For further information, please contact:
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@targovax.com
Media enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no
IR enquires:
Kim Sutton Golodetz - LHA Investor Relations (US)
Email: kgolodetz@lhai.com
Phone: +1 212-838-3777
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/targovax/r/targovax-asa--third-quarter-2020-results,c3231113
The following files are available for download:
https://mb.cision.com/Public/17093/3231113/bb18bc581d3ff8c5.pdf Targovax 3Q 2020 âEUR"
Presentation
https://mb.cision.com/Public/17093/3231113/a9f6b846190af0f9.pdf Targovax 3Q 2020 âEUR" Report
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SOURCE Targovax
