Alligator Bioscience AB Reports Financial Results for the First 9 Months of 2024 and for Q3 2024 and Provides a Business Update

LUND, SWEDEN / ACCESSWIRE / October 24, 2024 / Alligator Bioscience (STO:ATORX)

• Recruitment completed of 450 µg/kg back-fill cohort in the mitazalimab OPTIMIZE-1 study in pancreatic cancer

• Positive interim Phase 1 data evaluating ALG.APV-527 monotherapy in multiple solid tumor types presented at ESMO Congress 2024

Lund, Sweden - Alligator Bioscience (Nasdaq Stockholm: ATORX)

"We have made excellent progress over the last few months with preparations for our lead asset mitazalimab's Phase 3 evaluation and we are on track to initiate the study in the first half of 2025. Our focus remains on securing a path forward that provides a combination of the best returns for our shareholders, that mitazalimab reaches patients as fast as possible, and overall commercial success for the candidate. Our partnerships continued to deliver promising results with positive interim data from our co-developed ALG.APV-527 asset presented at this year's ESMO Congress and we are looking forward to top-line results from the Phase 1 study next quarter. These accomplishments build on what has already been a successful year for Alligator, as we now enter a productive final quarter for the Company."
Søren Bregenholt, CEO of Alligator Bioscience

BUSINESS UPDATE
Mitazalimab

• On July 10, Alligator announced the completion of the recruitment of the 450 µg/kg back-fill cohort to the OPTIMIZE-1 study of mitazalimab in pancreatic cancer. The additional cohort was a request from US FDA prior to entering Phase 3 and marks an important step in preparing for the candidate's continued clinical development.

ALG.APV-527

• On September 13, Alligator and Aptevo Therapeutics announced the presentation of positive interim data from the dose escalation phase of their Phase 1 trial evaluating the 4-1BB/5T4 bispecific antibody ALG.APV-527 in a poster session at the European Society for Medical Oncology (ESMO) Annual Congress 2024.

FINANCIAL SUMMARY FOR Q3 2024 and YEAR-TO-DATE 2024
The financial summaries for the quarterly periods ending September 30th, 2024 and September 30th, 2023 are presented below.

All amounts in MSEK, unless specified	July - September 2024	July - September 2023
Net Sales	1.4	19.4
Operating profit/loss	-62.0	-52.7
Profit/loss for the period	-66.5	-52.5
Cash Flow	-29.5	-86.5
Cash & Cash Equivalents	47.8	123.9
Earnings per share (SEK) before and after dilution	-0.09	-0.08

The financial summaries for the year-to-date periods ending September 30th, 2024 and September 30th, 2023 are presented below.

All amounts in MSEK, unless specified	January - September 2024	January - September 2023
Net Sales	16.0	46.4
Operating profit/loss	-169.1	-178.6
Profit/loss for the period	-178.5	-178.8
Cash Flow	-18.3	-23.1
Cash & Cash Equivalents	47.8	123.9
Earnings per share (SEK) before and after dilution	-0.25	-0.45

The full report is attached as a PDF, and is also available on the company's website: https://alligatorbioscience.se/en/investors/financial-reports/

Alligator will host a conference call on Thursday, October 24, at 3 p.m. CEST/ 9 a.m. EDT for investors, analysts and media, where CEO Søren Bregenholt and CFO Johan Giléus will present and comment on the Q3 interim report, which will be followed by a Q&A session.

The call will be held in English. Attendees need to register by following this link.

For further information, please contact:

Søren Bregenholt, CEO
E-mail: [e-mail]
Phone: [phone]

LifeSci Advisors
Investor Relations
Guillaume van Renterghem
E-mail: [e-mail]

About Alligator Bioscience

Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator's portfolio includes several promising drug candidates, with the CD40 agonist mitazalimab as its key asset. Furthermore, Alligator is co-developing ALG.APV-527 with Aptevo Therapeutics Inc., several undisclosed molecules based on its proprietary technology platform, Neo-X-Prime, and novel drug candidates based on the RUBY bispecific platform with Orion Corporation. Out-licensed programs include AC101/HLX22, in Phase 2 development, by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc.

Alligator Bioscience's shares are listed on Nasdaq Stockholm (ATORX) and is headquartered in Lund, Sweden.

For more information, please visit alligatorbioscience.com.

Attachments

2024Q3 EN Oct 2024 VF

SOURCE: Alligator Bioscience

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