STOCKHOLM, July 13, 2020 /PRNewswire/ --
Promising safety data for ATOR-1015
"With the new strategy announced in early April, we
have put a stronger focus on Alligator's clinical development
portfolio. ATOR-1015 has received a great deal of attention in
connection with the positive interim data presented at AACR and
ASCO, the world's two largest oncology conferences. We have also
worked actively with business development and signed a research
agreement with Scandion Oncology during the period, while our
collaboration with Biotheus developed well and led to an additional
milestone payment. The Covid-19 pandemic has been stressful but has
not led to any serious delays in the clinical projects. We are now
looking forward to an exciting second half of 2020 for
Alligator", commented CEO Per
Norlén.
Significant events April-June
- ATOR-1015: The Phase I clinical study progressed well
with eleven dose levels evaluated for initial safety. Interim data
from up to 21 cancer patients was presented at the oncology
conferences AACR and ASCO, showing a promising safety and
tolerability for ATOR-1015. Currently, patients are given doses of
750 mg, approximately 12.5 mg/kg, every two weeks.
- Mitazalimab: A preclinical collaboration agreement was
signed with the Danish biotech company Scandion Oncology. The
collaboration will further validatemitazalimab's potential in
combination therapy with diverse chemotherapeutic agents.
Preparations are ongoing for a clinical phase II study with the aim
to submit a CTA before year-end.
- ATOR-1017: A first patent within the development program
was approved by the U.S. Patent Office, and its earliest expiry
year is 2037.
- ALG.APV-527: Preclinical data, supporting that
ALG.APV-527 has the potential to induce a strong anti-tumor immune
response without systemic toxicity, was presented at PEGS
Interactive Virtual Summit.
- Biotheus agreement: Our collaboration partner Biotheus
has chosen to continue the antibody collaboration after a thorough
technical evaluation, resulting in a payment to Alligator of
USD 0.5 million.
- New CFO: Marie Svensson
was appointed as the new CFO starting September 1, 2020.
- Strategy: A strategic decision was taken to strengthen
clinical focus with the aim to build value of the clinical drug
candidates, while reducing preclinical expenses including a 20%
reduction in workforce. The adjustments will extend Alligator's
cash runway into the fourth quarter of 2021.
- Effects of Covid-19: Patient recruitment in the Phase I
studies was temporarily paused in March and April 2020 due to the Covid-19 pandemic but has
been resumed. Approved governmental subsidies amount to
SEK 1.5 to 2.0 million.
Financial summary
April-JuneNet sales, SEK 4.4
million (0.0).
- Operating result, SEK -34.7
million (-50.5).
- Result for the period, SEK -35.1
million (-49.3).
- Earnings per share before and after dilution, SEK -0.49 (-0.69).
- Cash flow for the period, SEK -33.2
million (-44.9).
- Cash and cash equivalents, incl. interest-bearing securities,
SEK 169.8 million (358.2).
January-June 2020
- Net sales, SEK 4.4 million
(0.1).
- Operating result, SEK -79.6
million (-96.7).
- Result for the period, SEK -77.9
million (-93.7).
- Earnings per share before and after dilution, SEK -1.09 (-1.31).
- Cash flow for the period, SEK -27.7
million (-79.2). (See p. 17)
Read the complete report in the pdf below.
For further information, please contact:
Per Norlén, CEO, per.norlen@alligatorbioscience.com, +46
46-540 82 00
Andreas Johannesson, Interim
CFO, andreas.johannesson@alligatorbioscience.com, +46 46-540
82 00
Cecilia Hofvander, Director IR &
Communications, cecilia.hofvander@alligatorbioscience.com, +
46 46-540 82 06
Alligator Bioscience AB (publ) 556597-8201
Medicon Village, Scheelevägen 2, 223 81 Lund, Sweden.
Phone +46 46 540 82 00.
The information was submitted for publication, through the
agency of the contact persons set out above, at 1:00 p.m. CEST
on July 13, 2020.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology
company developing tumor-directed immuno-oncology antibody drugs.
Alligator's pipeline includes five lead clinical and preclinical
drug candidates: Mitazalimab, ATOR-1015, ATOR-1017, ALG.APV-527
(co-developed with Aptevo Therapeutics Inc.) and AC101 (in clinical
development by Shanghai Henlius Biotech Inc.). Alligator's shares
are listed on Nasdaq Stockholm (ATORX). The Company is
headquartered in Lund, Sweden. For
more information, please visit www.alligatorbioscience.com.
This information was brought to you by Cision
http://news.cision.com
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The following files are available for download:
https://mb.cision.com/Main/12681/3153204/1278559.pdf
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Alligator Bioscience
AB (publ) Interim report January-June 2020
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SOURCE Alligator Bioscience