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Alligator Bioscience AB (Nasdaq Stockholm; ATORX) Interim report January – June 2017

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“We have advanced our project pipeline significantly during the second quarter. The immuno-oncology antibody ATOR-1017 moved into pre-clinical development, and in addition, Alligator increased its focus on the co-stimulatory receptor 4-1BB with a co-development partnership agreement with Aptevo Therapeutics Inc. on the bispecific antibody ALG.APV-527. Our pipeline is now stronger than ever with four candidates for tumor-directed immunotherapy in clinical and pre-clinical development” said Per Norlén, CEO.

Q2 in brief

 Business highlights 

  •    In May, new pre-clinical data for ADC-1013, and the wholly-owned bi-specific OX40- and CTLA-4-binding antibody ATOR-1015, was presented.
  •    In June, pre-clinical development of the 4-1BB targeting immuno-oncology antibody ATOR-1017, was initiated.  

Significant events after the reporting period

  •    In July, Aptevo Therapeutics and Alligator Bioscience entered into an agreement to co-develop the bispecific antibody ALG.APV-527.
  •    In July, Alligator announced that the immuno-oncology collaboration with Stanford University will be expanded. The objective is to enable prediction of clinical efficacy of Alligator´s pipeline candidates through the analysis of biomarkers
  •    In August, pre-clinical development and initial CMC activities for production of clinical material for ALG.APV-527 was initiated.

Financial summary

  •    Net sales MSEK 1.3 (3.8).
  •    Operating result for the period MSEK -29.5 (-47.7).
  •    Profit/loss for the period MSEK -31.0 (-45.1).
  •    Earnings per share SEK -0.43 (-0.76).
  •    Cash and cash equivalents MSEK 541 (363).

First half year in brief 

Business highlights

  •    First clinical phase I study with immuno-oncology CD40 agonist antibody ADC-1013 completed in March.
  •    The company has increased the number of employees with 11%, all in R & D.
  •    During the first quarter the second production phase was started for ATOR-1015.

Financial summary

  •    Net sales MSEK 3.8 (47.1).
  •    Operating result for the period MSEK -48.6 (-23.6).
  •    Profit/loss for the period MSEK -50.5 (-21.5).
  •    Earnings per share SEK -0.71 -(0.36).
  •    Cash flow for the period MSEK -116.1 (-4.7) whereof MSEK 74.5 has been invested in bonds.
  •    1 275 000 (208 000) warrants have been redeemed to an equal number of shares during the first six months.

Financial summary (Group)

2017
     Apr-Jun		 2016
     Apr-Jun		 2017
     Jan-Jun		 2016
     Jan-Jun		 2016
    Jan-Dec
Net sales, TSEK (SEK thousand) 1 283 3 787 3 806 47 147 58 240
Operating profit/losst -29 452 -47 678 -48 573 -23 587 -56 082
Profit/loss for the period, TSEK -31 000 -45 062 -50 502 -21 463 -48 356
Cash flow for the period, TSEK -97 221 16 555 -116 070 -4 747 287 135
Cash and cash equivalents, TSEK 540 515 362 777 540 515 362 777 659 136
Equity ratio, % 97% 95% 97% 95% 96%
R&D costs as % of operating costs excluding impairments 71.0% 67.0% 69.6% 62.3% 64.3%
Earnings per share before dilution, SEK -0.43 -0.76 -0.71 -0.36 -0.80
Earnings per share after dilution, SEK -0.43 -0.76 -0.71 -0.36 -0.80
Average number of employees 41 32 39 30 31

Invitation to teleconference
The company invites to a teleconference and webcast today 23 August at 2:00 pm CEST. To participate in the teleconference, call +46 (0)8 56642669 (Sweden), +442030089804 (UK) or +18557532235 (US).

To follow the presentation through the webcast, please visit: https://tv.streamfabriken.com/alligator-bioscience-q2-2017.

Contacts
For further information, please contact:
Per Norlén, CEO, per.norlen@alligatorbioscience.com.
Per-Olof Schrewelius, CFO, per-olof.schrewelius@alligatorbioscience.com, +46 (0) 46 286 42 85.
Rein Piir, VP IR, rein.piir@alligatorbioscience.com, 046 286 42 80.

Alligator Bioscience AB (publ) 556597-8201, Medicon Village, Scheelevägen 2, 223 81 Lund, phone + 46 (0) 46 286 42 80.

This information is such information as Alligator Bioscience AB (publ) is obliged to disclose in accordance with EU market abuse regulation and the Securities Markets Act. The information was submitted, through the above contact persons, for publication on 23 August 2017 at 8:30 am (CEST).

About Alligator Bioscience
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 product candidates (ADC-1013, ATOR-1015, ATOR-1017, and ALG.APV-527) and novel research candidates. ADC-1013 is licensed to Janssen Biotech, Inc., part of J&J, for development and commercialization. Alligator’s shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 45 employees. For more information, please visit www.alligatorbioscience.com

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