Stockholm - April 4, 2024 - Oncopeptides AB (STO: ONCO), a biotech company focused on difficult-to-treat cancers, today announces the unaudited net sales for the first quarter of 2024.
Oncopeptides releases this information ahead of the interim report for the first quarter 2024, scheduled for release on May 30, due to the ongoing rights issue process.
"Our first quarter sales are in line with our expectations, and we are tracking according to our plan to become profitable by the end of 2026," says Sofia Heigis, CEO of Oncopeptides. "The market for multiple myeloma treatments is always hampered by high infection rates during the first few months of the year. Despite this and in contrast to many of our competitors, Pepaxti sales in Q1 2024 remained stable compared to Q4 2023. Looking ahead, increasing sales momentum in Germany, Greece and upcoming launches in Spain and the Middle East and North Africa region makes us confident in accelerated sales during 2024 towards profitability by 2026."
Financial overview - January-March 2024
- Based on unaudited figures, Oncopeptides expects Net sales to amount to SEK 5.1 million (SEK 1.1 million).
For more information, please visit www.oncopeptides.com/en.
For more information, please contact:
David Augustsson, Director of IR and Communications, Oncopeptides AB (publ)
E-mail: david.augustsson@oncopeptides.com
Cell phone: +46 76 229 38 68
This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-04 08:00 CEST.
About Oncopeptides
Oncopeptides is a biotech company focusing on research, development and commercialization of targeted therapies for difficult-to-treat cancers. The company uses its proprietary Peptide Drug Candidate platform (PDC) to develop compounds that rapidly and selectively deliver cytotoxic agents into cancer cells.
Pepaxti® (melphalan flufenamide, also called melflufen) has been granted Marketing Authorization, in the European Union, the EEA-countries Iceland, Lichtenstein and Norway, as well as in the UK. Pepaxti is indicated in combination with dexamethasone for the treatment of adult patients with multiple myeloma who have received at least three prior lines of therapies, whose disease is refractory to at least one proteasome inhibitor, one immunomodulatory agent, and one anti-CD38 monoclonal antibody, and who have demonstrated disease progression on or after the last therapy. For patients with a prior autologous stem cell transplantation, the time to progression should be at least 3 years from transplantation.
Oncopeptides is developing several new compounds based on its proprietary technology platforms and is listed on Nasdaq Stockholm with the ticker ONCO. For more information see: www.oncopeptides.com
