23 August 2017

Alligator Bioscience AB - Interim report January – June 2017

 

“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”

Per Norlén

Chief Operating Officer

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 www.alligatorbioscience.com

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.

 

Click here to view full release.


Back to previous page