On October 24, 2024 Alligator Bioscience (Nasdaq Stockholm: ATORX) reported financial results for the first 9 months of 2024 and for Q3 2024 and provided a business update (Press release, Alligator Bioscience, OCT 24, 2024, View Source [SID1234647361]).

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"We have made excellent progress over the last few months with preparations for our lead asset mitazalimab’s Phase 3 evaluation and we are on track to initiate the study in the first half of 2025. Our focus remains on securing a path forward that provides a combination of the best returns for our shareholders, that mitazalimab reaches patients as fast as possible, and overall commercial success for the candidate. Our partnerships continued to deliver promising results with positive interim data from our co-developed ALG.APV-527 asset presented at this year’s ESMO (Free ESMO Whitepaper) Congress and we are looking forward to top-line results from the Phase 1 study next quarter. These accomplishments build on what has already been a successful year for Alligator, as we now enter a productive final quarter for the Company."
Søren Bregenholt, CEO of Alligator Bioscience

BUSINESS UPDATE
Mitazalimab

On July 10, Alligator announced the completion of the recruitment of the 450 μg/kg back-fill cohort to the OPTIMIZE-1 study of mitazalimab in pancreatic cancer. The additional cohort was a request from US FDA prior to entering Phase 3 and marks an important step in preparing for the candidate’s continued clinical development.
ALG.APV-527

On September 13, Alligator and Aptevo Therapeutics announced the presentation of positive interim data from the dose escalation phase of their Phase 1 trial evaluating the 4-1BB/5T4 bispecific antibody ALG.APV-527 in a poster session at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Annual Congress 2024.
FINANCIAL SUMMARY FOR Q3 2024 and YEAR-TO-DATE 2024
The financial summaries for the quarterly periods ending September 30th, 2024 and September 30th, 2023 are presented below.

All amounts in MSEK,
unless specified July – September 2024 July – September 2023
Net Sales 1.4 19.4
Operating profit/loss -62.0 -52.7
Profit/loss for the period -66.5 -52.5
Cash Flow -29.5 -86.5
Cash & Cash Equivalents 47.8 123.9
Earnings per share (SEK)
before and after dilution -0.09 -0.08
The financial summaries for the year-to-date periods ending September 30th, 2024 and September 30th, 2023 are presented below.

All amounts in MSEK,
unless specified January – September 2024 January – September 2023
Net Sales 16.0 46.4
Operating profit/loss -169.1 -178.6
Profit/loss for the period -178.5 -178.8
Cash Flow -18.3 -23.1
Cash & Cash Equivalents 47.8 123.9
Earnings per share (SEK)
before and after dilution -0.25 -0.45
The full report is attached as a PDF, and is also available on the company’s website: View Source

Alligator will host a conference call on Thursday, October 24, at 3 p.m. CEST/ 9 a.m. EDT for investors, analysts and media, where CEO Søren Bregenholt and CFO Johan Giléus will present and comment on the Q3 interim report, which will be followed by a Q&A session.