Significant events, July-September
• Aptevo Therapeutics and Alligator Bioscience signed a co-development agreement on the bispecific antibody ALG.APV-527. Preclinical development and initial production activities for clinical trial materials for ALG.APV-527 commenced.
• The immuno-oncology collaboration with Stanford University was expanded. The aim is to predict the clinical efficacy of Alligator’s pipeline candidates using biomarkers.
• A research contract was signed with Professor Ignacio Melero, MD, PhD, from the University of Navarra in Spain, for 4-1BB as a target molecule in immunotherapy and cancer therapy.
• The results of the Alligator-led Phase I clinical trial for ADC-1013/JNJ-64457107 will be presented at the 32nd Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in November.
• Janssen’s Phase I clinical trial for ADC-1013/JNJ-64457107 is ongoing with approximately 50 patients recruited to date.
Events after the end of the period
Alligator and collaboration partner Aptevo Therapeutics announced on 24 October that the tumor antigen 5T4, associated with many forms of solid tumors, is the second target for ALG.APV-527.
Financial summary
July-September
• Net sales, SEK 1.8 million (4.7).
• Operating loss, SEK 24.5 million (loss: 9.1).
• Loss for the period, SEK 25.8 million (loss: 7.5).
• Loss per share, SEK 0.36 (loss: 0.13).
• Cash and cash equivalents incl. bonds, SEK 588 million (659).
January-September
• Net sales, SEK 5.6 million (51.8).
• Operating loss, SEK 73.0 million (loss: 34.0)
• Loss for the period, SEK 76.3 million (loss: 29.0)
• Loss per share, SEK 1.07 (loss: 0.49)
• Cash flow for the period was a negative SEK 141.5 million (neg: 23.8), of which SEK 74.5 million was invested in corporate bonds.
• During the period, 1,275,000 warrants (230,000) were exercised for an equivalent number of shares.
| Financial summary (Group) | 2017 | 2016 | 2017 | 2016 | 2016 |
| Jul-Sep | Jul-Sep | Jan-Sep | Jan-Sep | Jan-Dec | |
| Net sales, TSEK | 1,770 | 4,661 | 5,576 | 51,808 | 58,240 |
| Operating profit/loss, TSEK | -24,459 | -9,133 | -73,032 | -33,952 | -56,082 |
| Profit/loss for the period, TSEK | -25,772 | -7,545 | -76,274 | -29,008 | -48,356 |
| Cash flow for the period, TSEK | -25,409 | -17,780 | -141,479 | -23,759 | 287,135 |
| Cash and cash equivalents including bonds, TSEK | 587,578 | 346,457 | 513,220 | 346,457 | 659,136 |
| Equity ratio, % | 97% | 97% | 97% | 97% | 96% |
| R&D costs as % of operating costs excluding impairments | 69.3% | 58.3% | 69.5% | 62.2% | 64.3% |
| Earnings per share before dilution, SEK | -0.36 | -0.13 | -1.07 | -0.49 | -0.80 |
| Earnings per share after dilution, SEK | -0.36 | -0.13 | -1.07 | -0.49 | -0.80 |
| Average number of employees | 43 | 33 | 40 | 31 | 31 |
The complete report is attached in the link below.
For further information, please contact:
Per Norlén, CEO, per.norlen@alligatorbioscience.com, +46 46 286 42 80.
Per-Olof Schrewelius, CFO, per-olof.schrewelius@alligatorbioscience.com, +46 46-286 42 85.
Rein Piir, VP IR, rein.piir@alligatorbioscience.com, +46 46 286 42 80.
Alligator Bioscience AB (publ) 556597-8201
Medicon Village, Scheelevägen 2, 223 81 Lund, Sweden.
Phone +46 46-286 42 80. www.alligatorbioscience.com
Alligator Bioscience AB (publ) is obligated to make public the information contained in this report pursuant to the EU Market Abuse Regulation and the Securities Markets Act. This information was provided to the media, through the agency of the contact persons set out above, for publication on October 25, 2017 at 08.00 a.m. CEST.