Alligator Bioscience AB reports financial results for the first 9 months of 2024 and for Q3 2024 and provides a business update
- 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.