LUND, SE / ACCESS Newswire / January 22, 2025 / Alligator Bioscience (STO:ATORX)
Sharpened focus on mitazalimab and cost-reduction program to maximize long-term value creation
Announcement of rights issue of units of approximately SEK 280 million, and raised bridge loans; subsequently approved following the quarter at EGM on 13 January 2025
Sale of future financial commitments for two bispecific antibodies to Orion Corporation
Lund, Sweden - Alligator Bioscience (Nasdaq Stockholm: ATORX)
"We have continued to make notable progress with our lead asset mitazalimab over the past quarter. The positive clinical and biomarker results presented at the SITC annual meeting from the OPTIMIZE-1 trial adds to the promise of mitazalimab as a potentially groundbreaking treatment for metastatic pancreatic cancer. Our focus remains on ensuring mitazalimab reaches patients swiftly, delivering the best returns for our stakeholders, and achieving commercial success. The positive outcome from our regulatory interactions during the quarter confirms our completed and planned CMC-work as Phase 3-enabling, and marks an important step which confirms we remain on track to achieve these goals. During this quarter, we have further sharpened our focus on mitazalimab and implemented a cost-reduction program to maximize long-term value creation. We sold the future financial commitments for two bispecific antibodies to Orion Corporation, and the exercise of warrants series TO 9 brought in SEK 0.8 million. Together with the raised bridge loan and announcement of a rights issue of approximately SEK 280 million we have strengthened our financial position to ensure our continued progress. This year has seen us deliver on many important milestones, and the final quarter is no exception. We now continue our efforts to deliver outstanding results in the coming year."
Søren Bregenholt, CEO of Alligator Bioscience
BUSINESS UPDATE
Mitazalimab
Positive clinical and biomarker results from the Phase 2 trial OPTIMIZE-1 were presented at the SITC annual meeting
ALG.APV-527
Positive interim Phase 1-data for drug candidate ALG.APV-527 presented at SITC annual meeting; confirms antibody meets important trial endpoints
Company
Sharpened focus on mitazalimab and cost-reduction program to maximize long-term value creation
Announcement of raised bridge loans and rights issue of units of approximately SEK 280 million; subsequently approved following the quarter at EGM on 13 January 2025
Sale of future financial commitments for two bispecific antibodies to Orion Corporation
Announcement of exercise of warrants series TO 9; Company to receive approximately 0.8 MSEK before issue costs
First patient dosed the with out-licensed drug candidate HLX22/AC101 in Henlius Biotech Phase 3 clinical trial
Conversion of series C shares into ordinary shares for delivery to participants in incentive program from 2021
FINANCIAL SUMMARY FOR Q4 2024 and FULL YEAR 2024
The financial summaries for the quarterly periods ending December 31st, 2024 and December 31st, 2023 are presented below.
All amounts in MSEK, | October - December 2024 | October - December 2023 |
Net sales | 41.8 | 11.7 |
Operating profit/loss | -60.1 | -70.4 |
Profit/loss for the period | -55.4 | -69.8 |
Cash flow for the period | 17.1 | -7.1 |
Cash and cash equivalents | 64.3 | 66.1 |
Earnings per share before and after dilution, SEK | -0.07 | -0.11 |
The financial summaries for the year-to-date periods ending December 31st, 2024 and December 31st, 2023 are presented below.
All amounts in MSEK, | January - December 2024 | January - December 2023 |
Net sales | 57.8 | 58.1 |
Operating profit/loss | -229.1 | -249.0 |
Profit/loss for the period | -233.9 | -248.6 |
Cash flow for the period | -1.2 | -30.2 |
Cash and cash equivalents | 64.3 | 66.1 |
Earnings per share before and after dilution, SEK | -0.32 | -0.55 |
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 webinar on Wednesday, January 22, 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 2024 Year-end 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: soren.bregenholt@alligatorbioscience.com
Phone: +46 (0) 46 540 82 00
Johan Giléus, CFO
E-mail: johan.gileus@alligatorbioscience.com
Phone: +46 (0) 46 540 82 00
The information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CET on January 22, 2025.
About Alligator Bioscience
Alligator is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs focused on the CD40 receptor. This validated approach promotes priming of tumor-specific T cells and reversing the immunosuppressive nature of the tumor microenvironment, with significant potential benefits for cancer patients across multiple types of cancer. The Company's lead drug candidate mitazalimab, is currently in preparation for Phase 3 development, and has previously presented unprecedented survival data at 18-months follow up in first-line metastatic pancreatic cancer patients in the Phase 2 trial OPTIMIZE-1.
Alligator is listed on Nasdaq Stockholm (ATORX) and headquartered in Lund, Sweden.
For more information, please visit alligatorbioscience.com .
Attachments
2024Q4 EN 22 Jan 2025 VF
SOURCE: Alligator Bioscience
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