Q1 2025 Mendus AB (publ) Earnings Call Transcript
Key Points
- Mendus AB (OSTO:IMMU) received supportive feedback from regulatory agencies for their registration trial preparations for vididencel in AML, which is a positive step towards large-scale GMP production.
- The company is expanding its clinical development with the AMLM22-CADENCE trial, managed by the Australasian Leukaemia and Lymphoma Group, with recruitment picking up.
- Mendus AB is collaborating with the University Medical Center in Groningen on ovarian cancer, utilizing their DCOne platform to potentially improve the production of tumor infiltrating lymphocytes (TILs).
- The appointment of Tariq Mughal as the new Chief Medical Officer is expected to strengthen Mendus AB's late-stage clinical development capabilities.
- The company maintains a decent cash position of SEK84.7 million, which is expected to support operations into Q1 2026.
- Mendus AB reported an operating loss of SEK30 million for Q1 2025, with no revenue generated during the period.
- The cash burn during Q1 was approximately SEK16 million, indicating ongoing financial challenges.
- The company is still in the preparation phase for Phase 3 trials, which involves significant costs and time before potential commercialization.
- There is a reliance on grants and pre-investments, such as the SEK6 million grant from On-code PACT, to manage financial operations.
- The immunotherapy landscape is highly competitive, with Mendus AB focusing on tumors not responding to checkpoint inhibitors, which presents both opportunities and challenges in market positioning.
It's Q1 2025 report presentation. (Operator Instructions) Now I will hand the conference over to the speaker's CEO, Erik Manting; and CFO, Lotta Ferm. Please go ahead.
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Thank you. First of all, everybody, thanks for joining on what is a sunny day here in Stockholm for the Mendus Q1 financial report and business updates. In Q1, we reported the feedback we got from the regulatory agencies on our preparations for a registration trial with our lead products vididencel in AML, and that feedback was supportive of our efforts both in terms of the trial design, and other trial related preparations, but also with respect to our next steps that will move the production of the product towards large scale GMP production.
It's important we stay close to the regulators and ask them for feedback regularly to make sure that we are moving in the right direction, and that was something we confirmed in a press release earlier this year.
We also are preparing a deeper pipeline
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