Oslo, Norway , 18 November 2021
Operational Highlights
- 102 of a targeted 120 patients have been enrolled into the pivotal PARADIGME Phase 2b trial for Betalutin® as of
17 November 2021 (94 patients enrolled as of26 August 2021 )- Three patients were enrolled in the same quarter in 2020
-
Preliminary three-month data readout expected during H1'2022, following timeline revisions announced on
3 August 2021
Erik Skullerud appointed as new Chief Executive Officer (CEO)Mr Skullerud brings more than 25 years' experience in the biopharma industry including more than 15 years atAmgen , including as Marketing Director Europe Oncology/Hematology, and seven years at Bayer- He has launched numerous highly innovative products in therapeutic areas including oncology and haematology, and as a consultant, he has worked with some of the world's top pharma and biotech companies as well as small, highly specialised start-ups on a wide range of projects
Pierre Dodion MD appointed as Chief Medical OfficerDr Dodion has over 30 years' experience in the biopharmaceutical industry, spent mostly in the oncology and haematology areas. He brings deep clinical development and medical affairs expertise and has provided strategic insight and overseen multiple clinical trials
Nordic Nanovector announced its support forThe Health Policy Partnership's initiative to improve readiness for the use of radioimmunotherapy and to facilitate appropriate integration of this innovative cancer treatment modality in lymphoma-
The Company entered a research collaboration with the
University of Pennsylvania to generate a novel CD37-targeting CAR-T cell therapy approach as a potential treatment for patients with B-cell malignanciesNordic Nanovector will have an option to license exclusive worldwide rights to any CD37-targeting CAR-T cells that result from the collaboration
Financial Highlights
(Figures in brackets = same period 2020 unless otherwise stated)
- Revenues for the third quarter 2021 and the first nine months of 2021 amounted to
NOK 0.0 million (NOK 0.0 million ) -
Total operating expenses for the third quarter 2021 were
NOK 104.3 million (NOK 88.1 million ). Total operating expenses for the first nine months of 2021 wereNOK 309.3 million (NOK 327.3 million ) -
Comprehensive loss for the third quarter 2021 amounted to
NOK 103.6 million (loss ofNOK 88.2 million ). Comprehensive loss for the first nine months of 2021 wasNOK 307.6 (NOK 305.4 million ) -
Cash and cash equivalents amounted to
NOK 369.5 million at the end ofSeptember 2021 , compared toNOK 450.1 million at the end ofJune 2021 , andNOK 294.0 million at the end ofDecember 2020
Outlook
The company's current cash position will support its operations into H2'2022 and will enable further preparatory work on the potential Betalutin® BLA filing and planning for commercialisation to be undertaken.
The company believes that, if positive, the PARADIGME trial data could represent a significant value inflection point for the company and its shareholders, confirming Betalutin® as a highly promising new targeted radioimmunotherapy that can address the unmet needs of R/R FL patients.
The company intends to discuss the development plan and opportunities for expanding the market for Betalutin® into other NHL indications, together with other potential areas for pipeline expansion and collaboration based on CD37-targeting immunotherapies, at its R&D Day, which is planned to take place on
Presentation and Webcast
A presentation by
Meeting Room: Bjørvika
The presentation will webcast live and will be available at www.nordicnanovector.com in the section: Investors & Media.
The results report and the presentation will be available at www.nordicnanovector.com in the section: Investors & Media/Reports and Presentation/Interim Reports/2021.
For further information, please contact:
IR enquiries
Malene Brondberg, CFO
Cell: +44 7561 431 762
Email: ir@nordicnanovector.com
Media Enquiries
Tel: +44 207 638 9571
Email: nordicnanovector@medistrava.com
About
Further 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 changes in circumstances, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on
This information is subject to a duty of disclosure pursuant to Sections 4-2 and 5-12 of the Securities Trading Act.
https://news.cision.com/nordic-nanovector/r/nordic-nanovector-asa--results-for-the-third-quarter-2021,c3455915
https://mb.cision.com/Main/9819/3455915/1497925.pdf
https://mb.cision.com/Public/9819/3455915/9611f60659093ed0.pdf
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