Slide 1: Activating the Patient's Immune System to Fight Cancer
ACTIVATING THE PATIENT’S IMMUNE SYSTEM TO FIGHT CANCER 1H & 2Q 2022 presentation 18 August 2022 OSE: TRVX
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This report contains certain forward-looking statements based on uncertainty, since they relate to events and depend on circumstances that will occur in future and which, by their nature, will have an impact on the results of operations and the financial condition of
Slide 3: Important Progress Was Made on All Three Strategic Pillars During 1H 2022
IMPORTANT PROGRESS WAS MADE ON ALL THREE STRATEGIC PILLARS DURING 1H 2022 ✓ Secured partnership to access free supply of ONCOS-102 checkpoint inhibitors to melanoma phase 2 trial ✓ FDA filing in time with ongoing follow-up, phase 2 trial go-ahead expected in 3Q´22 ✓ External funding and partnerships
Slide 4: 2Q OPEX in Line with Previous Quarters
2Q OPEX IN LINE WITH PREVIOUS QUARTERS NOK m 2Q21 3Q21 4Q21 1Q22 2Q22 Total revenue 0 0 0 0 0 R&D expenses 1 - -9 -10 -10 -9 -14 Payroll and related expenses -13 -11 -13 -16 -14 Other operating expenses 2 -3 -2 -2 -3 -3 Total operating expenses -25 -23 -26 -29 -31 Operating loss -25 -23 -26 -29 -31
Slide 5: 2Q Financial Snapshot
2Q FINANCIAL SNAPSHOT Key figures Shareholder base Net cash flow in 2Q Estimated ownership1 - 24 - 2.4 Shareholder HealthCap Shares million Ownership 12.4 6.6 % NOK million USD million Avanza Bank AB (nom.) 8.9 4.7 % Goldman Sachs Int. (nom.) 5.2 2.8 % Cash at end of 2Q Nordnet Bank AB (nom.) 4.9 2.
Slide 6: Targovax Development Pipeline
TARGOVAX DEVELOPMENT PIPELINE Preclinical Clinical Product candidate Discovery IND- Phase 1 Phase 2 Phase 3 / 2022 Milestones enabling pivotal 4Q 2022 / 1Q 2023 PD-1 Refractory Melanoma Initiation of multi-cohort Combination w/anti PD1 phase 2 trial ONCOS-102 1H 2022 Mesothelioma Full study data pre
Slide 7: Next Step ONCOS-102: Multi-Cohort Phase 2 Trial with 2nd Gen CTLA-4 Checkpoint Inhibitor Combination
NEXT STEP ONCOS-102: MULTI-COHORT PHASE 2 TRIAL WITH 2ND GEN CTLA-4 CHECKPOINT INHIBITOR COMBINATION Part 1 – higher dose exploration run-in Part 2 – multi-cohort extension ONCOS-102 ONCOS-102 + 1 monotherapy 2 balstilimab o Expand to n=37 high dose1 high dose3 o Confirm safety Randomize o Select do
Slide 8: The Phase 2 Trial Is Designed to Enable Future Out-Licensing and Address Regulatory Requirements
THE PHASE 2 TRIAL IS DESIGNED TO ENABLE FUTURE OUT- LICENSING AND ADDRESS REGULATORY REQUIREMENTS ✓ Opportunity to achieve best-in-class data ✓ Differentiated combinations vs. competitors, with strong scientific and strategic rationale ✓ Design and size to enable licensing decisions for big pharma p
Slide 9: Two Clinical Trials with the New and Enhanced TG Mutant KRAS Vaccine Set to Open During 2H 2022
TWO CLINICAL TRIALS WITH THE NEW AND ENHANCED TG MUTANT KRAS VACCINE SET TO OPEN DURING 2H 2022 o RAS mutations drive 30% of all cancers Unmet medical need o Current treatment options only address the KRAS G12C mutation, mainly relevant in lung cancer o Only two other known polyvalent KRAS vaccines
Slide 10: Outlook: Multiple Paths to Value Creation
OUTLOOK: MULTIPLE PATHS TO VALUE CREATION Pillar Value creation strategy Out-license ONCOS-102 with results from phase 2 melanoma trial o Aim to “knock-it-out-of-the-park” with novel triple combination o Study designed and sized to be attractive for big pharma partners ONCOS-102 Create broad optiona