Oncopeptides AB Interim Report January - March 2017
Stockholm, Sweden – Oncopeptides AB (Nasdaq Stockholm; ONCO) today announced the first quarter 2017 report.
”Our IPO received strong interest both from Sweden and internationally, including several well-renowned institutional long term investors. We are now fully financed to drive our broad clinical development program in late-stage multiple myeloma patients, including a phase II trial to be initiated and the ongoing phase II trials and the pivotal phase III trial OCEAN.”
SUMMARY OF Q 1
January 1st – March 31st 2017
- Net sales amounted to 0.0 (0.0) MSEK
- Loss for the period was 62.1 (loss: 15.2) MSEK
- Loss per share, before and after dilution, was 1.89 (loss: 0.92) SEK
- On March 31st, cash and cash equivalents amounted to 611.6 (20.1) MSEK
Significant events during the period January 1st to March 31st 2017
- Oncopeptides was listed in the Mid Cap segment on Nasdaq OMX Stockholm, raising 695.0 MSEK (approx. 77 MUSD) before transaction costs
- On March 15th ‘Intention to grant’ letter was received from the European Patent Office extending the patent life for Ygalo® in Europe to 2032 without extensions
FINANCIAL OVERVIEW OF THE GROUP (SEK thousand):
| Financial overview of the group (SEK thousand) | |||
| 2017 | 2016 | 2016 | |
| Jan - Mar | Jan - Mar | Jan - Dec | |
| Net sales | - | - | - |
| Operating loss | -62,083 | -15,244 | -114,482 |
| Loss before tax | -62,083 | -15,244 | -114,446 |
| Loss for the period | -62,083 | -15,244 | -114,446 |
| Earnings per share before and after dilution (SEK) |
-1.89 | -0.92 | -4.88 |
| Cash flow from operating activities |
-67,637 | -13,130 | -104,262 |
| Cash and cash equivalents at the end of the period | 611,599 | 20,111 | 40,251 |
| Research & development costs/operating expenses % | 76% | 86% | 78% |
FINANCIAL CALENDAR
Annual General Meeting 2017 May 18th 2017
Interim Report Q2 2017 August 25th 2017
Interim Report Q3 2017 November 15th 2017
Full Year Report 2017 February 22nd 2018
For further information, please contact:
Jakob Lindberg, CEO for Oncopeptides AB
E-mail: jakob.lindberg@oncopeptides.se
Tel: +46 8 615 20 40
Rein Piir, Head of Investor Relations for Oncopeptides AB
E-mail: rein.piir@oncopeptides.se
Tel: +46 70 853 72 92
This information that Oncopeptides AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the persons above, 08.00 am CET on May 18th 2017.
About Oncopeptides
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. Ygalo is intended to demonstrate better results from treatment compared to established alternative drugs in the treatment of patients with multiple myeloma. Ygalo could potentially provide physicians with a new treatment option for patients suffering from this serious disease.
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