Q4 2024 Nykode Therapeutics ASA Earnings Call Transcript
Key Points
- Nykode Therapeutics AS (VACBF) reported a strong cash position of over $150 million, providing a solid financial foundation.
- The company published positive final data from their Phase 2 C-02 Trial, showing prolonged benefits and definitive vaccination effects in patients with advanced cervical cancer.
- Nykode regained ownership and IP rights to their VB10.NEO program from Genentech, allowing them to explore optimal paths forward.
- The company is strategically refocusing to align activities with cash runway, aiming to achieve an annual cost base of approximately $20 million by 2030.
- Nykode's VB10.16 program showed promising data with a high overall response rate and prolonged median overall survival in patients with high PD-L1 expression.
- Nykode faced a tough period with layoffs and organizational changes as part of their strategic refocus.
- The company reported a net loss of $6.8 million for the fourth quarter, an increase from the previous year's loss.
- There is uncertainty regarding the feasibility of running later-stage trials for personalized cancer vaccines and their commercial potential.
- Some potential partners are awaiting further data from ongoing trials before committing to agreements.
- The company is still in the process of determining the optimal path forward for their VB10.NEO program, with guidance expected in the first half of 2025.
Greetings and welcome to the Nykode, Q4 2024 Financial Results webcast. At this time, all participants are going to listen-only mode.
(Operator Instructions)
It's my pleasure to turn the call over to your CEO Michael Engsig. Please go ahead.
Thank you very much, Kevin. And also from my side, I want welcome to all the participants for this IO's 4th quarter webcast. Just a quick reminder of our, fraud statement. We assume you're all familiar with those on that note, we'll move forward.
I am very pleased to, as usual, have Agnete Fredrickson, Chief Scientific Officer, head of business development, and co-founder, with me together with Harold Gurvin, Chief Financial Officer together. We'll take you through the key highlights of the fourth quarter. As well as, of course, the financial numbers. So, it's been an eventful, fourth quarter for us. Although obviously there are parts of this, we are not looking forward to see, any time through. It has been a tough, period with, a
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