Stockholm, Sweden – Oncopeptides AB (Nasdaq Stockholm; ONCO) today announced the third quarter 2017 report.
“The data from our study, O-12-M1, provides us with an increased degree of comfort regarding a positive clinical outcome in our pivotal study OCEAN”
SUMMARY OF Q3
July 1st – September 30th 2017
- Net sales amounted to 0.0 (0.0) MSEK
- Loss for the period was 51.6 (loss: 24.7) MSEK
- Loss per share, before and after dilution, was 1.30 (loss: 1.06) SEK
- On September 30th cash and cash equivalents amounted to 443.0 (5.6) MSEK
Significant events after the period
July 1st to September 30th 2017
- On November 1st, we announced that we will present results from two clinical studies at the American Society of Hematology (ASH) annual meeting in Atlanta, USA: Final data from the phase II study called O-12-M1 and interim data from the ongoing phase II study called HORIZON. Both studies target late-stage patients with Relapsed Refractory Multiple Myeloma (RRMM).
FINANCIAL OVERVIEW OF THE GROUP (SEK thousand):
|Financial overview of the group (SEK thousand)|
|Jul – Sep||Jul – Sep||Jan – Sep||Jan – Sep||Jan – Dec|
|Loss before tax||-51,573||-24,667||-180,916||-63,394||-114,446|
|Loss for the period||-51,573||-24,667||-180,916||-63,394||-114,446|
|Earnings per share before and after dilution (SEK)||-1.30||-1.06||-4.78||-2.78||-4.88|
|Cash flow from operating activities||-86,158||-27,243||-225,818||-59,912||-104,262|
|Cash and cash equivalents at the end of the period||442,964||5,647||442,964||5,647||40,251|
|Research & development costs/operating expenses %||94%||82%||80%||86%||78%|
|Full Year Report 2017||February 22nd 2018|
|Annual General Meeting||May 17th 2018|
|Interim Report Q1 2018||May 17th 2018|
|Interim Report Q2 2018||July 13th 2018|
For further information, please contact:
Jakob Lindberg, CEO for Oncopeptides AB
Tel: +46 8 615 20 40
Rein Piir, Head of Investor Relations for Oncopeptides AB
Tel: +46 70 853 72 92
Oncopeptides is a research and development stage pharmaceutical company developing drugs for the treatment of cancer. Since the founding of the company, the focus has primarily been on the development of the lead product candidate Ygalo®, an innovative, peptidase-potentiated alkylator intended for effective and focused treatment of hematological cancers, and in particular multiple myeloma. The current clinical study program is intended to demonstrate better results from treatment with Ygalo® compared to established alternative drugs for patients with late-stage multiple myeloma. Ygalo® could potentially provide physicians with a new treatment option for patients suffering from this serious disease.
The information in the press release is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on November 15, 2017 at 08.00 a.m. (CET).