Immunicum AB (publ) Year-End Report (October - December 2017) Corporate Update and Outlook
16 February 2018 - 6:00PM
Press Release
16 February 2018
Immunicum AB (publ) Year-End Report (October - December 2017)
Corporate Update and Outlook
Immunicum AB
(publ; IMMU.ST) a biopharmaceutical company advancing a novel,
immune-priming cancer treatment against a variety of solid tumors,
announced today its financial results and a
corporate update for the fourth quarter 2017.
Significant events during the fourth quarter
-
Sharon Longhurst was appointed as Head of
Chemistry, Manufacturing and Controls (CMC). She will lead
Immunicum's objective to develop a commercially-ready manufacturing
process for lead product, ilixadencel.
-
Ilixadencel mode of action data was presented at
the Society for Immunotherapy of Cancer (SITC) 32nd Annual
Meeting. The preclinical results show how ilixadencel induces
several complementary immunological processes that are needed in
order to prime the immune system to recognize and destroy cancer
cells.
-
Immunicum announced two online publications of
preclinical studies investigating the mode of action of ilixadencel
in the prestigious scientific journal Oncoimmunology. The studies show the multiple ways in
which ilixadencel, or corresponding allogeneic proinflammatory
mouse dendritic cells, create an immune-priming
environment.
-
Nasdaq Stockholm's listing committee approved
Immunicum's shares for listing on Nasdaq Stockholm conditional upon
the completion of the Rights Issue. The approval was conditional
upon Immunicum fulfilling the formal listing requirement of having
secured sufficient working capital for a period of twelve months
following the first day of trading on Nasdaq Stockholm.
-
The Company announced preliminary
proof-of-concept results from preclinical studies evaluating the
potential improvement of anti-tumor effect when combining lead
candidate ilixadencel with an anti-PD-1 checkpoint inhibitor
(CPI).
-
The EGM resolved to approve the board of
directors' resolution on a new issue of shares with preferential
rights for the shareholders.
-
Immunicum announced that the 90 percent secured
Rights Issue with preferential rights for existing shareholders
which was announced on 2 November 2017 (the "Rights Issue") had
been completed. Immunicum's proceeds from the Rights Issue amount
to approximately SEK 200 million before transaction
costs.
Significant events after end of period
-
Patient recruitment was completed for the
ongoing, global Phase II MERECA (MEtastatic REnal Cell CArcinoma)
clinical trial. The primary objective of the study is to provide
proof of concept for ilixadencel through the achievement of
multiple endpoints indicative of meaningful clinical impact and
safety assessed over an 18-month period.
-
Immunicum announced trading of its shares
(IMMU.ST) on the main market of Nasdaq Stockholm. The company is
listed as a small cap company within the healthcare sector.
-
Michaela Gertz joined the company as Chief
Financial Officer where she will bring a range of experience in
finance and capital raising transactions to Immunicum, including
seven years as CFO for PledPharma, a First North-listed drug
development company.
-
Immunicum presented a case study of one patient
from the Phase I/II HCC trial at the Cholangiocarcinoma Foundation
Annual Conference in Salt Lake City, Utah. The case study
highlighted the long survival of a patient with advanced
cholangiocarcinoma (bile duct cancer) after combination of the
immune primer ilixadencel with standard drugs known to induce
immunogenic cell death and inhibit tumor-driven
immunosupression.
CEO Comment - Fourth Quarter - Year
End
2017 and the first weeks of 2018
have been transformative for Immunicum. During this time, we
achieved the goals we had envisioned at the start of 2017. These
were:
-
to announce the most important results of the
Phase I/II HCC clinical trial that showed positive safety and
immune activation data
-
to complete enrollment for the Phase II MERECA
study, which we announced on January 8, 2018
-
to define an updated clinical development
strategy for ilixadencel that recognizes its ability to act as an
immune primer in a range of solid tumor indications and its
potential in combination with checkpoint inhibitors
-
to achieve the uplisting onto the main market of
Nasdaq Stockholm
-
to raise sufficient capital through a rights
offering to complete the MERECA trial and reach the next value
inflection point for ilixadencel and for the company
-
to validate our clinical and pre-clinical data
for ilixadencel through peer-reviewed publications and medical
conference presentations
-
to strengthen the management team with
additional industry experience
-
to increase awareness of the company and its
pipeline in the EU, the US and globally through participation at
financial conferences and industry events
For 2018 we will focus our efforts
on the further clinical development of ilixadencel, primarily with
the start of the multi-indication study in combination with
checkpoint inhibitors and continuing the ongoing MERECA and GIST
trials. We will remain active in gaining further recognition for
our immune primer approach and our technology. The most valuable
way to do that is to present our preclinical and clinical data at
medical conferences and publish in scientific journals where our
results are validated by experts in the field. We will also present
the company at industry events and financial conferences to expand
our network. Strategically, it is important to build on the
relationships we established this far.
I would like to extend a heartfelt
thanks to our employees, the leadership team, our Board and our
investors for their commitment to Immunicum over the past year. It
is a pleasure to start the year with a strong foundation in place
to move closer to achieving our vision to provide a novel therapy
for cancer patients and to build value for our shareholders.
Carlos de Sousa
President and CEO
Financial Summary of the Year End Report October - December 2017
The Fourth Quarter
(October-December) 2017
-
The operating loss amounted to TSEK -19,455
(TSEK -24,719)
-
Net loss amounted to TSEK -18,826 (TSEK
-24,809)
-
Earnings per share before and after dilution
amounted to SEK -0.73 (SEK -0.96)
January-December 2017
-
The operating loss amounted to TSEK -80,700
(TSEK -61,333)
-
Net loss amounted to TSEK -80,338 (TSEK
-61,423)
-
Earnings per share before and after dilution
amounted to SEK -3.09 (SEK -2.65)
-
Cash and cash equivalents amounted to TSEK
128,883 at 31 December 2017 (TSEK 102,899)
-
Shareholders' equity per share amounted to SEK
3.72 (SEK 3.94)
-
Number of employees at the end of the period was
13 (11)
The full quarterly report is
available on:
http://immunicum.se/investors/financial-reports/
The information
is such information that Immunicum is obliged to make public
pursuant to EU Market Abuse Regulation. The information was
released for public disclosure through the contact persons detailed
below on 16 February 2018 at 8.00 am CET.
For more information, please contact:
Carlos de Sousa, CEO,
Immunicum
Telephone: +46 (0) 31 41 50 52
E-mail: info@immunicum.com
Michaela Gertz, CFO,
Immunicum
Telephone: +46 70 926 17 75
E-mail: ir@immunicum.com
Media Relations
Gretchen Schweitzer and Joanne
Tudorica
Trophic Communications
Telephone: +49 172 861 8540
E-mail: ir@immunicum.com
About Immunicum AB (publ) Immunicum is establishing a unique
immuno-oncology approach through the development of allogeneic,
off-the-shelf cell-based therapies. Our goal is to improve survival
outcomes and quality of life by priming the patient's own immune
system to fight cancer. The company's lead product ilixadencel,
consisting of pro-inflammatory allogeneic dendritic cells, has the
potential to become a backbone component of modern cancer
combination treatments in a variety of solid tumor indications.
Founded and based in Sweden, Immunicum is publicly traded on the
Nasdaq Stockholm. www.immunicum.com
|
20180216_Year End Report Press
Release_EN
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Immunicum AB via Globenewswire
Immunomedics (NASDAQ:IMMU)
Historical Stock Chart
From Apr 2024 to May 2024
Immunomedics (NASDAQ:IMMU)
Historical Stock Chart
From May 2023 to May 2024