PR Newswire | Aug 26, 2020 02:29AM EDT

08/26 01:28 CDT

Oncopeptides AB: Interim Report Q2 2020 STOCKHOLM, Aug. 26, 2020

STOCKHOLM, Aug. 26, 2020 /PRNewswire/ --

Summary

Financial overview April 1 - June 30, 2020

* Net sales amounted to SEK 0.0 M (0.0) * Loss for the period was SEK 401.0 M (loss: 171.9) * Loss per share, before and after dilution, was SEK 6.79 (loss: 3.52) * On June 30 cash and cash equivalents amounted to SEK 937.8 M (626.8)

Significant events during the period April 1 - June 30, 2020

* Marty J Duvall was appointed CEO from July 1, and Jakob Lindberg assumed the role as * Chief Scientific Officer * NDA for accelerated approval of melflufen in the U.S was submitted * A laboratory for preclinical development was taken over to strengthen the technology platform and build the company's pipeline * A directed share issue of SEK 1,414 M (USD 144 M) (before issue costs) to well-known life science investors, out of which SEK 716.4 M (before issue costs) was paid in after the end of the reporting period was completed * Enrollment in the OCEAN phase 3 study continues after the initial recruitment goal of 450 patients was reached in May * Final data from the pivotal HORIZON study were presented at EHA * Patient enrollment to the company's exploratory clinical studies was resumed in May after a temporary pause due to the COVID-19 pandemic

Significant events after the reporting period

* The first patient was enrolled in the phase 1/2 AL-Amyloidosis study. This is the first study with melflufen in an indication outside multiple myeloma * Oncopeptides started a phase 2 study called PORT to evaluate an alternative administration of melflufen

Financial overview of the group

2020 2019 2020 2019 2019 Apr - Apr - Jan - Jan - Jan -SEK thousand Jun Jun Jun Jun Dec

Net sales - - - - -

Operating loss -399,332 -171,739 -696,208 -305,551 -739,392

Loss before tax -399,542 -171,864 -696,869 -305,810 -739,920

Loss for the period -401,041 -171,944 -698,370 -306,021 -740,705

Earnings per share before and after -6.79 -3.52 -12.20 -6.35 -14.33dilution (SEK)

Cash flow from operating activities -285,665 -122,997 -598,506 -265,818 -690,566

Cash and cash equivalents at the 937,773 626,799 937,773 626,799 926,186end of the period

Research & development costs/ 57% 77% 63% 78% 74%operating expenses %

Conference call for investors, analysts and the mediaThe Interim Report Q2 2020 and an operational update will be presented by CEO Marty J Duvall and members of Oncopeptides management team, Wednesday August 26, 2020 at 14:00 (CET). The conference call will also be streamed via a link on the website: www. oncopeptides.com.

Phone numbers for participants from:Sweden: +46-8-566-427-06Europe: +44-3333-009-274USA: +1-833-249-84-07

Financial calendarInterim Report Q3, 2020: November 19, 2020Year-end Report 2020: February 18, 2021Interim Report Q1 2021: May 26, 2021Annual General Meeting 2021: May 26, 2021

For further informationMarty J DuvallCEOOncopeptides ABE-mail: marty.duvall@oncopeptides.com

Rein PiirHead of Investor RelationsOncopeptides ABE-mail: rein.piir@oncopeptides.comTelephone: +46 (0)70 853 72 92

This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on August 26, 2020.

About OncopeptidesOncopeptides is a pharmaceutical company focused on the development of targeted therapies for difficult-to-treat hematological diseases. The company is focusing on the development of the lead product candidate melflufen, a first in class peptide-drug conjugate (PDC) that targets aminopeptidases and rapidly releases alkylating agents into tumor cells. Melflufen (melphalan flufenamide) is in development as a new treatment for the hematological malignancy multiple myeloma and is currently being tested in multiple clinical studies including the pivotal phase 2 HORIZON study and the ongoing phase 3 OCEAN study. Based on the results from the HORIZON study Oncopeptides has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration, FDA, for accelerated approval of melflufen in combination with dexamethasone for treatment of adult patients with triple-class refractory multiple myeloma. Oncopeptides' headquarters is in Stockholm, Sweden with its U.S. headquarters in Boston, Mass. The company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO. More information is available on www.oncopeptides.com.

For more information please visitwww.oncopeptides.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/oncopeptides-ab/r/interim-report-q2-2020,c3181260

The following files are available for download:

https://mb.cision.com/Main/15404/3181260/1297322.pdf The full report (PDF)

https://mb.cision.com/Public/15404/3181260/ Press release (PDF)9e43edad09844073.pdf

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SOURCE Oncopeptides AB