Launch dynamics encouraging, but US regulatory situation challenging
STOCKHOLM - August 19, 2021 - Oncopeptides AB (publ) (Nasdaq Stockholm: ONCO), a global biotech company focused on the development of therapies for difficult-to-treat hematological diseases, has today published the report for the second quarter 2021.
Financial overview of the Group
(SEK thousand) 2021 2020 2021 2020 2020 Jan-Dec
Apr-Jun Apr-Jun Jan-Jun Jan-Jun
Net sales 66,374 - 85,729 - -
Gross profit 63,552 - 82,579 - -
Gross margin 96 % N/A 96 % N/A N/A
Operating loss -344,836 -399,332 -692,167 -696,208 -1,591,279
Loss after tax -24,116 -401,041 -258,780 -698,370 -1,594,693
Earnings per share before -0.32 -6.79 -3.63 -12.20 -25.57
and after dilution (SEK)
Cash flow from operating -346,695 -285,665 -733,409 -598,506 -1,296,509
Cash and cash equivalents 999,384 937,773 999,384 937,773 840,255
at the end of the period
R & D costs/operating 41 % 57 % 45 % 63 % 54 %
Conference call for investors, analysts and the media
Investors, financial analysts and media are invited to participate in a webcast with a Q&A session at 12:00 CEST. The event will be hosted by CEO, Marty J Duvall, CMO, Klaas Bakker and CFO, Anders Martin-Löf.
The webcast will be streamed via this link (https://tv.streamfabriken.com/oncopeptides-q2-2021) which can also be found on the website: www.oncopeptides.com.
Phone numbers for participants from:
Sweden: +46 8 566 426 51 PIN: 51415302#
Europe: +44 3333 000 804 PIN: 51415302#
USA: +1 8558570686 PIN: 51415302#
For more information, please contact:
Rolf Gulliksen, Global Head of Corporate Communications, Oncopeptides AB
Cell phone: + 46 70 262 96 28
Linda Holmström, Director of Investor Relations, Oncopeptides AB
Cell phone: +46 70 873 40 95
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 07:00 CET on August 19, 2021.
Oncopeptides is a global biotech company focused on the development of targeted therapies for difficult-to-treat hematological diseases. The company uses its proprietary peptide-drug conjugate (PDC) platform to develop compounds that rapidly and selectively deliver cytotoxic agents into cancer cells. The first drug coming from PDC platform, PEPAXTO® (melphalan flufenamide), has been launched in the U.S., for the treatment of adult patients with relapsed or refractory multiple myeloma. Melphalan flufenamide is evaluated in a comprehensive clinical study program including the global phase 3 studies OCEAN and LIGHTHOUSE. Oncopeptides is developing several new compounds based on the PDC platform. In 2021 the second compound from the PDC platform, OPD5, is estimated to enter clinical development.
Oncopeptides has approximately 300 coworkers. The global Headquarters is based in Stockholm, Sweden and the U.S. Headquarters is situated 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.