PDF
Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Hälsovård |
| Industri | Bioteknik |
Oslo, Norway, 17 February 2022 - Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, today announces its fourth quarter 2021 results. Targovax's CEO will give an online presentation and update on the clinical program to investors, analysts and the press at 10:00 CET today (details below).
2021 HIGHLIGHTS
ONCOS-102- Reported class-leading ORR of 35% for ONCOS-102 in PD1-refractory melanoma, associated with broad and powerful immune activation in responding tumors
- Reported 25.0 months median Overall Survival (mOS) for ONCOS-102 combined with chemotherapy in first line mesothelioma
- Granted two Fast-Track designations for ONCOS-102 by the US FDA, for both PD1-refractory melanoma and malignant pleural mesothelioma
- Expanded the pipeline programs into circular RNA delivery
- Appointed Dr. Erik Digman Wiklund as CEO, previous Targovax CBO and CFO and circRNA co-discoverer
- Appointed circRNA co-discoverer Dr. Thomas B Hansen as VP of Research to lead the NextGen circRNA ONCOS pipeline program
- Announced a research collaboration with Prof. Michael Uhlin at Karolinska Institutet in Stockholm for development and characterization of NextGen ONCOS viruses
- Awarded two prestigious research grants towards the TG mut KRAS vaccine program totaling NOK 18m over four years; NOK 9.8m from the Research Council of Norway and NOK 8.2m from Innovation Norway
- Completed a rights issue raising gross proceeds of NOK 175m
Erik Digman Wiklund, CEO commented: "During 2021, adenoviruses clearly pulled ahead as the most promising class for oncolytic immunotherapy, as demonstrated by convincing clinical data from both Targovax (ONCOS-102) and several of our peers. When it comes to the breadth, depth, and consistency of the translational analyses from our phase 1/2 clinical program, the totality of the ONCOS-102 data package is second to none. As such, Targovax can now soundly be considered one of the front-runners in the oncolytic virotherapy space. We are planning to leverage this position by building an innovative pipeline of NextGen ONCOS viruses, including a move into the emerging circular RNA field."
Key figures
Amounts in NOK thousands 4Q 2021 4Q 2020 FY 2021 FY 2020
Total operating revenues - - - 624
Total operating expenses -25 523 -22 872 -95 601 -104 524
Operating profit/loss -25 523 -22 872 -95 601 -103 901
Net financial items -1 129 -3 413 -2 422 -4 503
Income tax 10 57 52 277
Net profit/loss -26 641 -26 229 -97 971 -108 126
Basic and diluted EPS (NOK/share) -0.28 -0.28 -1.10 -1.40
Net change in cash 127 617 44 665 59 360 51 893
Cash and cash equivalents start of period 54 064 77 657 122 321 70 429
Cash and cash equivalents end of period 181 682 122 321 181 682 122 321
The interim financial information has not been subject to audit
Presentation
We invite to a live webcast today at 10.00 CET. You can join the webcast here (https://channel.royalcast.com/landingpage/hegnarmedia/20220217_14/). It will be possible to submit questions during the presentation.
Reporting material
TRVX 4Q report.pdf (https://mb.cision.com/Public/17093/3508323/980a73cfaad4185c.pdf)
TRVX 4Q presentation.pdf (https://mb.cision.com/Public/17093/3508323/8900b694ca84262b.pdf)
The quarterly report and presentation are also available at the website www.targovax.com (https://www.targovax.com/en/financial-reports/).