Alligator Bioscience AB (publ) Interim Report January-March 2020

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Alligator Bioscience

23 Apr, 2020, 06:33 GMT

STOCKHOLM, April 23, 2020 /PRNewswire/ -- Stronger focus on clinical projects

"The focusing of our operations protects the company's liquidity, but is also part of our long-term strategy with a emphasis on clinical projects and innovation," CEO Per Norlén comments.

Significant events January-March

  • Andreas Johannesson was appointed interim CFO.
  • The COVID-19 pandemic impacts the recruitment of new patients to the company's ongoing Phase clinical I studies with the ATOR-1015 and ATOR-1017 drug candidates.

Events after the end of the period

  • Decision on stronger focus on the clinical development portfolio aimed at securing the value of clinical drug candidates:
    • Innovation platform as well as capacity and competence for discovery research retained to ensure the company's long-term development.
    • The company gave notice of employee reductions impacting 12 positions, corresponding to slightly more than 20% of the company's workforce.
  • ATOR-1015: The Phase I clinical study progressed well with ten dose levels evaluated for initial safety. Currently, evaluation is in progress of doses of 600 mg, approximately 10 mg/kg, administered every two weeks.

Financial summary

January-March

  • Net sales, SEK 0.0 million (0.0).
  • Operating result, SEK -44.9 million (-46.2).
  • Result for the period, SEK -42.9 million (-44.4).
  • Earnings per share before and after dilution, SEK -0.60 (-0.62).
  • Cash flow for the period, SEK 5.4 million (-34.3).
  • Cash and cash equivalents, incl. interest-bearing securities, SEK 203.2 million (249.9).

Read the complete report in the pdf below.

This information is such as Alligator Bioscience AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 8:00 a.m. CEST on April 23, 2020.

About Alligator Bioscience

Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator's growing pipeline includes five lead clinical and preclinical drug candidates: mitazalimab, ATOR-1015, ATOR-1017, ALG.APV-527 (co-developed with Aptevo Therapeutics Inc.) and AC101 (in clinical development by Shanghai Henlius Biotech Inc.). Alligator's shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 55 employees. For more information, please visit http://www.alligatorbioscience.com/.

For further information, please contact:

Per Norlén, CEO
per.norlen@alligatorbioscience.com 
+46-46-540-82-00

Andreas Johannesson
Interim CFO
andreas.johannesson@alligatorbioscience.com 
+46-46-540-82-00

Cecilia Hofvander
Director IR & Communications
cecilia.hofvander@alligatorbioscience.com 
+46-46-540-82-06

Alligator Bioscience AB (publ) 556597-8201
Medicon Village, Scheelevägen 2, 223 81 Lund, Sweden.
Phone +46-46-540-82-00
www.alligatorbioscience.com

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The following files are available for download:

https://mb.cision.com/Main/12681/3094699/1234191.pdf

Alligator Bioscience AB (publ) Interim report January-March 2020