Oncopeptides publishes Q1 report 2023

Oncopeptides AB (publ) (Nasdaq Stockholm: ONCO), a biotech company focused on research, development, and commercialization of therapies for difficult-to-treat hematological diseases, today publishes the report for the first quarter 2023.

“The first quarter marked an important transition for Oncopeptides, establishing ourselves as a commercial organization.” says Monica Shaw, CEO of Oncopeptides. “Our key priority this year is building the Pepaxti launch in Germany and initiating pricing and reimbursement discussions across Europe.”

Financial overview January-March

• Net sales amounted to SEK 1.1 M (-)
• Operating profit amounted to SEK -72.7 M (-98.9)
• Net profit amounted to SEK -71.0 M (-98.6)
• Profit per share, before and after dilution, amounted to SEK -0.79 (-1.31)
• Cash balances at the end of the period amounted to SEK 253.9 M (194.3)

Significant events January-March

• Monica Shaw is appointed CEO and takes office on the 4 th of January, and Jakob Lindberg assumes role as Chief Scientific Officer.
• Holger Lembrér is appointed CFO and takes office on the 18th of January 2023.
• Oncopeptides receives a research grant of SEK 3 M from Sweden´s Innovation Agency Vinnova, as per 28th of March, to explore the PDC platform in solid tumors.

Significant events after the period

• Oncopeptides issues warrants to utilize the first loan tranche from EIB.

Financial overview of the group

Selected key indicators (SEK thousand)	2023 Jan-Mar	2022 Jan-Mar	2022 Jan-Dec	2021 Jan-Dec
Net sales	1 124	–	8 355	118 295
Gross profit	-72 740	-98 865	-349 350	-1 420 917
Profit after tax	-71 025	-98 587	-337 951	-1 430 317
Earnings per share, before and after dilution (SEK)	-0.79	-1.31	-4.11	-19.00
Cash flow operating activities	-88 997	-166 033	-420 509	-1 516 391
Cash at the end of the period	253 904	194 315	344 515	362 187
R&D expenses/operating expenses, %	41%	67%	61%	46%

Conference call for investors, analysts and the media 

Investors, financial analysts, and media are invited to participate in a webcast and a following QA session on May 4 at 09:00. The presentation will be hosted by Monica Shaw, CEO, together with Holger Lembrér, CFO, and will be held in English. It will be published on the website of Oncopeptides in conjunction with the start of the presentation. 

Information for participants

If you wish to participate in the webcast, please use the link below. Through the webcast you will have opportunities to ask written questions to the company´s leadership. 
https://ir.financialhearings.com/oncopeptides-q1-2023 

If you wish to participate via telephone conference, please register on the link below. After the registration you will be provided with a phone number and a conference ID to access the conference. You can ask questions to the leadership verbally via the telephone conference.
https://conference.financialhearings.com/teleconference/?id=200728 

For more information, please contact:

Rolf Gulliksen, Global Head of Corporate Communications, Oncopeptides AB (publ.)
E-mail: rolf.gulliksen@oncopeptides.com
Cell phone: + 46 70 262 96 28

This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-05-04 08:00 CEST.

About Oncopeptides

Oncopeptides is a biotech company focused on research, development, and commercialization of therapies for difficult-to-treat hematological diseases. The company uses its proprietary Peptide Drug Candidate platform (PDC) to develop compounds that rapidly and selectively deliver cytotoxic agents into cancer cells. 

Pepaxti® (melphalan flufenamide, also called melflufen) has been granted Marketing Authorization, in the European Union, the EEA-countries Iceland, Lichtenstein and Norway, as well as in the UK. Pepaxti is indicated in combination with dexamethasone for the treatment of adult patients with multiple myeloma who have received at least three prior lines of therapies, whose disease is refractory to at least one proteasome inhibitor, one immunomodulatory agent, and one anti-CD38 monoclonal antibody, and who have demonstrated disease progression on or after the last therapy. For patients with a prior autologous stem cell transplantation, the time to progression should be at least 3 years from transplantation. Melflufen has been granted accelerated approval in the US under the trade name Pepaxto®. The drug is currently not marketed in the US.

Oncopeptides is developing several new compounds based on its proprietary technology platforms and is listed on the Small Cap segment on Na