OSLO, Norway, Nov. 4, 2021 /PRNewswire/ -- Targovax ASA
(OSE: TRVX), a clinical stage biotechnology company developing
immune activators to target hard-to-treat solid tumors, today
announces its third quarter 2021 results. Targovax's CEO will give
an online presentation and update on the clinical program to
investors, analysts and the press at 10:00
CET today (details below).
THIRD QUARTER
HIGHLIGHTS
- Received acceptance of two posters to be presented at the
Society for Immunotherapy of Cancer (SITC) Annual Meeting in
November
- Presented poster at European Society for Medical Oncology
(ESMO)
- Received European Patent for ONCOS-102 in combination with
chemotherapy
- Announced Dr Lone Ottesen's
appointment as Chief Development Officer and Ola Melin as Head of Manufacturing
POST-PERIOD HIGHLIGHTS
- In October, Dr. Erik Digman
Wiklund was appointed as new Chief Executive Officer. Dr.
Wiklund has a strong scientific background in cancer research, and
intimate knowledge of the company and its technology having served
as Chief Business Officer and Chief Financial Officer of Targovax
since 2017. Former CEO Øystein Soug will remain with the company
following the appointment of Dr. Wiklund. Mr. Soug will act as a
special advisor and also serve as interim CFO providing important
strategic and management continuum for the company.
KEY FIGURES
|
Amounts in NOK
thousands
|
3Q 2021
|
3Q 2020
|
9M 2021
|
9M 2020
|
FY 2020
|
|
|
|
|
|
|
|
Total operating
revenues
|
-
|
34
|
-
|
624
|
624
|
|
Total operating
expenses
|
-22 539
|
-22 073
|
-70 078
|
-81 652
|
-104 524
|
|
Operating
profit/loss
|
-22 539
|
-22 039
|
-70 078
|
-81 028
|
-103 901
|
|
Net financial
items
|
-781
|
-718
|
-1 294
|
-1 089
|
-4 503
|
|
Income tax
|
11
|
73
|
42
|
220
|
277
|
|
Net
profit/loss
|
-23 309
|
-22 684
|
-71 330
|
-81 898
|
-108 126
|
|
|
|
|
|
|
|
Basic and diluted EPS
(NOK/share)
|
-0.27
|
-0.30
|
-0.82
|
-1.10
|
-1.40
|
|
|
|
|
|
|
|
Net change in
cash
|
-17 127
|
-23 808
|
-68 257
|
7 228
|
51 893
|
|
Cash and cash
equivalents start of period
|
71 192
|
101 465
|
122 321
|
70 429
|
70 429
|
|
Cash and cash
equivalents end of period
|
54 064
|
77 657
|
54 064
|
77 657
|
122 321
|
Erik Digman Wiklund, CEO
commented: "Taking over the leadership of Targovax at a
time when we have demonstrated a clear signal of efficacy
accompanied by a deep biomarker data package for our lead candidate
ONCOS-102, is a truly exciting opportunity. The insights we have
gained allow us to select the optimal combination strategy for the
next development step, as well as to design innovative and
differentiated second generation ONCOS vectors to shape our
platform for the future."
Presentation
We invite to a live webcast today at 10.00 CET. You can join the
webcast here. It will be possible to ask questions during the
presentation.
Reporting material
TRVX Q3 report.pdf
TRVX Q3 presentation.pdf
The quarterly report and presentation are also available at the
website www.targovax.com.
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@targovax.com
Renate Birkeli, Investor
Relations
Phone: +47 922 61 624
Email: renate.birkeli@targovax.com
Media enquires:
Andreas
Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/targovax/r/targovax-asa--third-quarter-2021-results,c3446803
The following files are available for download:
|
https://mb.cision.com/Public/17093/3446803/afeb113e438d4cce.pdf
|
TRVX Q3
report
|
|
https://mb.cision.com/Public/17093/3446803/a025da7d0e3836c3.pdf
|
TRVX 3Q
presentation
|
View original
content:https://www.prnewswire.com/news-releases/targovax-asa-third-quarter-2021-results-301416164.html
SOURCE Targovax
