Alligator Bioscience AB Full Year Report 2017

The Janssen collaboration continues, milestone payment of 6 MUSD triggered

Significant events, October-December

• Alligator Bioscience recorded a revenue of USD 6 million from Janssen, coupled to a decision to start combination study with ADC-1013/JNJ-64457107. This milestone payment was received in January 2018.

• A decision was taken to expand the management team with Chief Medical Officer Charlotte A Russell, MD, PhD and Vice President Discovery Peter Ellmark, Associate Professor.

• Results from Alligator Bioscience’s clinical Phase I study presented, supporting a continued clinical development of ADC-1013.

• Aptevo Therapeutics and Alligator Bioscience announced the tumor antigen 5T4 as the second target for the drug candidate ALG.APV-527.

Events after the end of the period

• Theradex Oncology contracted as clinical CRO for the upcoming clinical study with ATOR-1015.

• Anudharan Balendran appointed VP Business Development starting 1 May 2018.

• Janssen clinical Phase I study with ADC-1013 ongoing.

Financial summary

October-December

• Net Sales, SEK 51.3 million (6.4).

• Operating result, SEK 10.7 million (-22.1).

• Result for the period, SEK 12.5 million (-19.4).

• Result per share, SEK 0.18 (-0.31).

• Cash, cash equivalents and bonds, SEK 547 million (659).

January-December

• Net Sales, SEK 56.9 million (58.2).

• Operating result, SEK -62.3 million (-56.1).

• Result for the period, SEK -63.8 million (-48.4).

• Result per share, SEK -0.89 (-0.80).

• Cash flow for the period before investments in bonds, SEK -108.7 million and after -183.2 (287.1).

• During the period 1,275,000 warrants (330,000) were exercised for an equivalent number of shares.

Financial summary (Group)

2017 2016 2017 2016
Oct-Dec Oct-Dec Jan-Dec Jan-Dec
Net sales, TSEK (SEK thousand) 51,299 6,433 56,875 58,240
Operating profit/loss 10,733 -22,130 -62,299 -56,081
Profit/loss for the period, TSEK  12,516 -19,352 -63,758 -48,356
Cash flow for the period, TSEK -41,694 310,886 -183,173 287,135
Cash, cash equivalents and bonds, TSEK 547,041 659,136 547,041 659,136
Equity ratio, % 96% 96% 96% 96%
R&D costs as % of operating costs excluding impairments 80.5% 68.5% 73.3% 64.3%
Earnings per share before dilution, SEK 0.18 -0.31 -0.89 -0.80
Earnings per share after dilution, SEK 0.18 -0.31 -0.89 -0.80
Average number of employees 46 35 42 31

Conference call

All interested parties are invited to participate in a telephone conference which will include a presentation of the Full Year Report. The event will be hosted by CEO Per Norlén and the presentation will be held in English.

When: 1:15 pm CET Friday 16 February 2018
To participate in the telephone conference, please use the dial in details shown below:
SE: +46856642664
UK: +442030089802
US: +18558315945
The presentation can also be reached at: https://tv.streamfabriken.com/alligator-bioscience-q4-2017 

The conference call will be made available on the company´s website after the call: www.alligatorbioscience.com.

For further information, please contact:
Per Norlén, CEO, per.norlen@alligatorbioscience.com, +46 46 286 42 80.
Per-Olof Schrewelius, CFO, per-olof.schrewelius@alligatorbioscience.com, +46 46 286 42 85.
Cecilia Hofvander, Director IR & Communications, cecilia.hofvander@alligatorbioscience.com, +46 46 286 44 95.

Alligator Bioscience AB (publ) 556597-8201
Medicon Village, Scheelevägen 2, 223 81 Lund, Sweden.
Phone +46 46 286 42 80.

The information was submitted for publication, through the agency of the contact persons set out above, at 8:00 a.m. CET on 16 February 2018.

About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator’s growing pipeline includes four lead clinical and preclinical drug candidates (ADC-1013, ATOR-1015, ATOR-1017 and ALG.APV-527). ADC-1013 (JNJ-64457107) is licensed to Janssen Biotech, Inc., part of J&J, for global development and commercialization. Alligator’s shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 50 employees. For more information, please visit www.alligatorbioscience.com.

About Us

Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator’s growing pipeline includes lead clinical and pre-clinical drug candidates (ADC-1013, ATOR-1015, ATOR-1017 and ALG.APV-527) and novel research candidates. ADC-1013 (JNJ-64457107) is licensed to Janssen Biotech, Inc., part of J&J, for global development and commercialization. Alligator’s shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 45 employees.