Q1 2025 Nykode Therapeutics ASA Earnings Call Transcript
Key Points
- Nykode Therapeutics AS (VACBF) has successfully completed its organizational streamlining, focusing on cost control to support future priorities.
- The company announced a dividend of one Norwegian crown per share, reflecting a strong financial position.
- Final Phase 2 data from the VB10.16 C-02 trial published in a high-impact journal, confirming prolonged benefits and a favorable safety profile.
- New preclinical data from the immune tolerance platform shows potential for broad application in autoimmune disorders.
- Strong cash position of $106.2 million at the end of the quarter, supporting future strategic initiatives.
- No revenue from contracts with customers in the first quarter due to the cancellation of the Genentech contract.
- Net loss of $1.4 million for the first quarter, although reduced from the previous year.
- Uncertainty regarding the outcome of the appeal with the Norwegian Tax Authorities, which involves a significant receivable.
- The VB10.NEO trial included heavily pre-treated patients, limiting the ability to evaluate long-term immune responses.
- The company is still in negotiations with Genentech regarding data rights for the VB10.NEO trial, creating uncertainty.
Greetings and welcome to the Nykode Therapeutics Q1 2025 financial results presentation. At this time, all participants are your listen-only mode.
(Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Michael Engsig, CEO of Nykode Therapeutics. Please go ahead, Michael.
Thank you very much, Kevin. And, also from my side, a very warm welcome to all participants to this webcast for our first quarter results and updates from the business.
A quick reminder of our forward-looking statements, assuming you're all familiar with this kind of statements, we will move on.
As usual, I am very happy to have with me here today Agnete Fredriksen, our Chief Scientific Officer and Business Development and Co-founder; as well as Harald Gurvin, our Chief Financial Officer, and together we'll try to take you through a deep dive in the business update and the financial numbers for the first quarter.
So, happy to
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