OncoZenge (ONCOZ) Q3 2024 earnings summary

Executive summary

• Focused on preparing BupiZenge™ for phase 3 study and market approval in Europe, with global ambitions including the US.

• Entered exclusive negotiations with Pharmanovia for commercialization rights in Europe, Middle East, and North Africa.

• Secured bridge financing of 10 MSEK from Linc AB, conditional on finalizing the Pharmanovia agreement.

• Maintained strong cost control, halving operating expenses year-over-year due to reduced personnel and clinical activities.

Financial highlights

• Net sales were 0 TSEK for both Q3 and the nine-month period (unchanged year-over-year).

• Operating loss for Q3 was -1,759 TSEK (improved from -4,187 TSEK year-over-year); for Jan–Sep, -6,184 TSEK (improved from -12,732 TSEK year-over-year).

• Earnings per share for Q3 were -0.15 SEK (-0.36 SEK year-over-year); for Jan–Sep, -0.53 SEK (-1.09 SEK year-over-year).

• Cash flow for Jan–Sep was -6,797 TSEK (improved from -13,199 TSEK year-over-year); cash and cash equivalents at period end were 5,830 TSEK.

• Equity per share at period end was 1.06 SEK (1.59 SEK at 2023 year-end); equity ratio was 91.22%.

Outlook and guidance

• Phase 3 program for BupiZenge™ in Europe is well prepared, with a potential market launch in 2026.

• OPEX expected to rise as phase 3 activities ramp up, but cost discipline remains a priority.

• Ongoing efforts to secure additional commercial partnerships and financial flexibility for other markets, including the US.