On May 26, 2020 Oncopeptides reported that Interim Report Q1 2020 (Press release, Oncopeptides, MAY 26, 2020, View Source [SID1234558444])
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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 20191)
Jan – Mar 2019
Jan – Dec
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.