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Oslo, Norway, May 26, 2021 /PRNewswire/-Nordic Nanovector ASA (OSE: NANOV) announced its results for the first quarter of 2021. The management team of Nordic Nanovector will be webcast live today at CEST 08.30. The link to the webcast can be obtained from the following URL: www.nordicnanovector.com.
Results reports and presentations can also be found in the following sections of the company website: Investors and Media/Reports and Presentations/Interim Report/2021. After the event, a rebroadcast of the webcast will be played at the same location.
Peter BraunThe CEO of Nordic Nanovector stated:“Nordic Nanovector has made important progress so far in 2021, including raising funds to provide preliminary data for the first three months provided by the PARADIGME study, and preparing for Betalutin®’s subsequent potential BLA filing. The company has also implemented a The series aims to improve patients’ enrollment in PARADIGME. We believe that when the impact of COVID-19 subsides, this will further increase the enrollment rate of patients. I firmly believe that effective and well-tolerated targeted radiopharmaceuticals, such as Betalutin®, are a one-time treatment It can bring real change to NHL patients all over the world.”
Operational highlights
- Peter Braun Appointed as CEO in March
- Mr. Braun is an experienced entrepreneurial pharmaceutical leader with nearly 30 years of professional career at Roche, with extensive commercialization and innovative oncology experience.
- The successful private placement and oversubscription repair products completed in February and April, respectively, raised approximately 422 million Norwegian kroner (USD 49.7 million) Total revenue
- Extend the company’s cash flow to the second half of 2022
- Despite being affected by the ongoing COVID-19 pandemic, operational improvements and protocol changes have increased PARADIGME’s recruitment rate in recent months
- As of 2003, a total of 83 patients were recruited May 25, 2021 (As of 73) February 17, 2020)
- The company is still expected to report three months of preliminary revenue data before the end of 2021
- Promising stage 1b Data from the Archer-1 study, which evaluated the effect of Betalutin® in combination with rituximab in 2L FL
- Board changes
- Hilde Hermanson SteinageThe doctor decides not to participate in the annual general meeting
- Solveig HellebustPh.D. was appointed as a non-executive director of the Annual General Meeting of Shareholders April 28, 2021
Financial Highlights for the First Quarter of 2021
(Number in brackets = the same period in 2020, unless otherwise stated)
- The total revenue for the first quarter is 0 million Norwegian kroner (0 million Norwegian kroner).
- Total operating expenses in the first quarter were 101.2 million Norwegian kroner (NOK 125.9 million).
- Research and development expenses (pre-clinical, clinical, medical affairs, regulations and CMC activities) accounted for 85.9% (80.8%) of total operating expenses at the beginning of 2021.
- The comprehensive loss for the first quarter was 102.1 million Norwegian kroner (Loss NOK 91.7 million).
- Cash and cash equivalents at the end of the period March 2021 Reach 497.9 million Norwegian kroner, compared to 294.0 million Norwegian kroner At the end of December 2020.
Appearance
The current focus of Nordic Nanovector is to complete the enrollment of patients on PARADIGME, and the goal is to announce the initial three-month income data from PARADIGME by the end of 2021.
Following the recent successful private placement and repair services, the company has expanded its cash business to the second half of 2022, which not only enables it to provide key data from PARADIGME, but also prepares for potential Betalutin® BLA filings jobs. Was assumed.
The company believes that if it is positive, the PARADIGME test data may represent an important value inflection point for the company and its shareholders, confirming that Betalutin® is a promising new targeted radioimmunotherapy that can meet the future of R/R FL patients. Meet the demand.
For more information, please contact:
Investor Relations Inquiry
Malene Brondberg, Chief Financial Officer
Mobile: +44 7561 431762
e-mail: ir@nordicnanovector.com
Media inquiries
Mark Swallow/Frazer Hall/David Dible (Citizen Dewey Rogerson)
Phone: +44 203 926 8535
e-mail: nordicnanovector@citigatedewerogerson.com
About Nordic Nanocarriers:
Nordic Nanovector is committed to developing and providing innovative therapies to patients to meet major unmet medical needs and advance cancer treatment. The company aspires to become a leader in the development of targeted therapies for hematological tumors. Nordic Nanovector’s main clinical drug candidate is Betalutin®, a novel antibody-radinuclide conjugate targeting CD37, designed to promote the treatment of non-Hodgkin’s lymphoma (NHL). NHL stated that medical needs have not been fully met, which indicates that the growing market’s predicted value is approaching $26 billion By 2028. NordicNanovector retains the global marketing rights of Betalutin® and intends to actively participate in the commercialization of Betalutin® in the United States and other major markets.
More information can be found at www.nordicnanovector.com.
Forward-looking statements
This press release contains certain forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and environmental changes because they are related to events and depend on what will happen in the future. Essentially, they will affect Nordic Nanovector’s business and financial conditions . Conditions and operation results. The terms “anticipate”, “hypothesis”, “believe”, “can”, “can”, “estimate”, “expect”, “forecast”, “intend”, “may”, “may”, “plan”, ” “Should”, “project”, “target”, “will”, “will”, or in each case, their negatives or other variations or comparable terms are used to identify forward-looking statements. These forward-looking statements are not historical facts. There are many factors that could cause actual results and developments to differ materially from those expressed or implied in forward-looking statements. Factors that may cause these differences include, but are not limited to, the risks associated with the implementation of the Nordic Nanovector strategy, the risks and uncertainties associated with the development and/or approval of Nordic Nanovector product candidates, ongoing and future clinical trials and expected trials As a result, with the ability to commercialize Betalutin®, technological changes and the potential market of Nordic Nanovector and the ability to new products in the industry, Nordic Nanovector has the freedom to operate in terms of its developed products (competitors’ patents), develop new products and Enhance the capabilities of existing products and the resulting impact on competition, changes in overall economic and industry conditions, and the impact of legislation, regulations, and political factors. There is no guarantee that such expectations will prove to be correct. Nordic Nanovector assumes no obligation to update or revise any forward-looking statements due to new information, future events or other reasons.
This information is subject to the disclosure requirements of Articles 5-12 of the Norwegian Securities Exchange Act
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Source: Nordic Nanocarriers
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