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Beskrivning

LandNorge
ListaOB Match
SektorHälsovård
IndustriBioteknik
Circio Holding är ett läkemedelsbolag. Bolaget specialistkompetens återfinns inom riktad immunterapi som används vid behandling av cancerpatienter. Bolagets verksamhet består av forskning och utveckling och läkemedlen säljs idag under separata varumärken. Ett flertal partnerskap på marknaden har ingåtts för att stärka samarbetet inom utvecklingen av ny immunterapi. Bolaget grundades 2010 och har sitt huvudkontor i Lysaker.
2023-02-16 07:00:31
Oslo, Norway, 16 February 2023 - Targovax ASA (OSE: TRVX), a clinical stage
biotechnology company developing immune activators to target hard-to-treat solid
tumors, today announces its fourth quarter 2022 results.

Members of Targovax's executive management team will give an online presentation
to investors, analysts and the press at 10:00 CET today (details below).

FOURTH QUARTER 2022 HIGHLIGHTS

ONCOS-102

· The phase 1b melanoma study was selected for oral presentation at the
prestigious Society for Immunotherapy in Cancer (SITC) annual meeting
· The phase 1b melanoma full study results were published in the high-impact
oncology journal Clinical Cancer Research

CircRNA pipeline program

· Key technical proof-of-concept data were established, and IP filed for the
in-house circRNA design and circAde vector

Mutant KRAS platform

· The TG01 trial in multiple myeloma at Oslo University Hospital received
regulatory approvals to proceed
· A clinical trial collaboration was announced with Agenus and Kansas
University to test TG01 in combination with PD1 checkpoint inhibitor balstilimab
in pancreatic cancer

Corporate

· Hubro Therapeutics acquired GM-CSF vaccine adjuvant for NOK 10m from
Targovax ASA in an asset purchase agreement

POST-PERIOD HIGHLIGHTS

· In February 2023, Targovax announced financing of up to NOK 300m over three
years to advance its clinical cancer programs & pre-clinical circular RNA
platform

Erik Digman Wiklund, CEO commented: "We are now well positioned to execute on
all our R&D programs in 2023. During the year, we expect both ONCOS-102 and TG01
to progress rapidly in clinical studies at major cancer centers in the USA and
Europe, teeing up important read-outs in 2024. For circRNA, we aim to establish
in vivo proof-of-concept in several settings, and firmly establish Targovax as
the leader in vector-delivered circRNA therapeutics - aiming to be first into
the clinic with a circRNA product for cancer treatment already in 2025. To
further strengthen our financial position, we are building on the momentum in
the RNA field to actively pursue additional opportunities to help unlock the
substantial potential value of our circRNA platform"

Key figures

Amounts in NOK thousands 4Q 2022 4Q 2021 FY 2022 FY 2021

Total operating revenues 10 002 - 10 002 -
Total operating expenses -32 198 -25 523 -112 266 -95 601
Operating profit/loss -22 196 -25 523 -102 264 -95 601
Net financial items -17 -1 129 -313 -2 422
Income tax 9 10 40 52
Net profit/loss -22 204 -26 641 -102 537 -97 971

Basic and diluted EPS (NOK/share)  -0.12  -0.28  -0.54  -1.10

Net change in cash -30 171 127 617 -115 667 59 360
Cash and cash equivalents start of period 96 186 54 064 181 682 122 321
Cash and cash equivalents end of period 66 015 181 682 66 015 181 682

  The interim financial information has not been subject to audit

Presentation

We invite to a live webcast today at 10.00 CET. You can join the webcast
here (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20230216_12). It
will be possible to submit questions during the presentation.

Reporting material

TRVX 4Q'22
report.pdf (https://mb.cision.com/Public/17093/3716062/8c0698c600ff95cb.pdf)

TRVX 4Q'22
presentation.pdf (https://mb.cision.com/Public/17093/3716062/80b0880579655956.pd
f
)

The quarterly report and presentation are also available at the website
www.targovax.com (https://www.targovax.com/en/financial-reports/).

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@targovax.com

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@targovax.com

Media enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no

About Targovax

Activating the patient's immune system to fight cancer

Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing
immune activators to target hard-to-treat solid tumors. Targovax's focus is to
activate the patient's immune system to fight cancer, and to bring benefit to
cancer patients with few available treatment alternatives. Targovax is
developing its product candidates in different cancer indications, including
melanoma, mesothelioma, multiple myeloma and pancreatic cancer.

Targovax's lead clinical candidate, ONCOS-102, is a genetically modified
oncolytic adenovirus, which has been engineered to selectively infect cancer
cells and activate the immune system against the tumor. ONCOS-102 has
demonstrated a favorable efficacy, immunological and safety profile in several
indications, both as monotherapy and in combinations, and ONCOS-102 is
progressing into a randomized phase 2 trial in melanoma patients resistant to PD
-1 checkpoint inhibitor treatment.

Targovax has also established a cutting-edge circular RNA (circRNA) program with
the intent to develop next generation RNA therapeutics for various applications,
building on clinical experience and deep mechanistic insights from its first
generation products.  In addition, Targovax has a KRAS immunotherapy program,
with lead candidate TG01 due to enter clinical trials in an enhanced format in
pancreatic cancer and multiple myeloma during early 2023. This provides Targovax
with a rich pipeline of innovative future therapeutic candidates to follow ONCOS
-102.