Nykode Therapeutics Asa · OSL:NYKD
Nykode Therapeutics Asa — Q2 2026 Earnings Presentation
28 slides from Nykode Therapeutics Asa's earnings presentation, Aug 26, 2026
Slide 1: Q2 2026 Results Presentation
Q2 2026 Results Presentation August 26, 2026
Slide 2: Forward-looking statement
Forward-looking statement This announcement and any materials distributed in connection with this presentation may contain certain forward- looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the company’s current expectations and assumpt
Slide 3: Today's presenters from Nykode
Today’s presenters from Nykode MICHAEL ENGSIG AGNETE FREDRIKSEN HARALD GURVIN Chief Executive Officer Chief Scientific Officer & Chief Financial Officer Business Development Nykode Therapeutics | Q2'26 webcast | Non-confidential 3
Slide 4: Nykode Therapeutics - Highlights
Nykode Therapeutics - Highlights NYKODE THERAPEUTICS (OSE: NYKD.OL) Antigen-presenting cell-targeted immunotherapy platform Precision immune activation for oncology and immune modulation for autoimmune diseases Clinical assets Abi-suva (HPV16-specific off-the-shelf vaccine) Current program suppo
Slide 5: Highlights
Highlights Key peer announced positive Phase 3 data for their individualized neoantigen cancer vaccine, clinically validating the cancer vaccine field Nykode believe that VB10.NEO is well positioned as the most attractive unencumbered asset in this area VB10.NEO showcased at the Neoantigen Summit in
Slide 6: VB10.NEO
VB10.NEO Nykode Therapeutics | Q2'26 webcast | Non-confidential 6
Slide 7: Individualized Neoantigen Therapy (INT)
Individualized Neoantigen Therapy (INT) 5. Treatment with 1. Biological Material INT Tumor biopsy & blood Personalized vaccines targeting tumor-specific mutations sample Neoantigens • Tumor-specific mutations not found in healthy tissue INT Platform • Fully personalized per patient Individualized •
Slide 8: Individualized Neoantigen Therapy (INT) is here to stay
Individualized Neoantigen Therapy (INT) is here to stay Nykode has the most attractive unencumbered assets that can compete in this space Phase 3 INTerpath-001 What this changes for the cancer vaccine field 1,137 patients, completely resected stage IIB–IV melanoma Cancer vaccines are now de-risked a
Slide 9: The platform: a neoantigen vaccine that targets antigen-presenting cells
The platform: a neoantigen vaccine that targets antigen- presenting cells and improve T cell responses Improved T cell responses compared to antigen alone 5ug 10ug Targeting unit P = 0.03 4000 10000 P < 0.001 Mean IFNγ SFU/106 splenocytes • Attracts and binds APCs Mean IFNg SFU/106 splenocytes 8000
Slide 10: NeoSELECT: clinically proven neoantigen selection across more than ten indications
NeoSELECT : clinically proven neoantigen selection across more than ten indications • The proprietary AI-driven platform, NeoSELECTTM systematically prioritizes the most immunogenic neoantigens • Validated in clinical trials across multiple tumor types, including tumor types with low TMB* • Clear co
Slide 11: To our knowledge, the only INT to link immunogenicity to survival
To our knowledge, the only INT to link immunogenicity to survival Antigen-specific immunogenicity correlated with overall survival (OS) in the N-01 trial In patients with low baseline immunogenicity, more de-novo immune responses led to improved overall survival Baseline low & de-novo high Baseline
Slide 12: Our current optimized manufacturing process has a turnaround time of less than 6 weeks
Our current optimized manufacturing process has a turnaround time (TAT) of less than 6 weeks Key improvements: Manufacturing Time (weeks) 18 • Drug substance and drug product manufacturing processes consolidated under one roof. Optimized slot utilization and shipment timelines 14 • Improved DNA isol
Slide 13: Simpler pDNA production and simpler manufacturing process
Simpler pDNA production and simpler manufacturing process compared to mRNA positions VB10.NEO competitively in the INT field High potential for fast turn-around-time and simpler manufacturing process compared to mRNA pDNA Fermentation DNA Fill Product QA and Purification release mRNA Fermentation DN
Slide 14: A second-generation concept further enhances T cell responses
A second-generation concept further enhances T cell responses MC38 model B16F10 model 0.5ug dose 2.5ug dose 2.5ug dose 7.5ug dose ✓ Nykode’s vaccine 15000 P = 0.001 14000 P = 0.005 technology delivers Mean IFN-γ+ SFU/106 splenocytes Mean IFN-γ+ SFU/106 splenocytes 12000 potent immunogenicity 12000 P
Slide 15: Key takeaways from VB10.NEO
Key takeaways from VB10.NEO Moderna’s positive Phase 3 for INTerpath-001 has validated the modality and the two leading mRNA INTs are already partnered. Two completed trials across 13 tumor types, 88–100% of patients responding, and a clean safety profile. Immunogenicity correlated with overall surv
Slide 16: Abi-suva
Abi-suva Nykode Therapeutics | Q2'26 webcast | Non-confidential 16
Slide 17: The current focus of abi-suva is 1L r/m HNSCC with potential to expand
The current focus of abi-suva is 1L r/m HNSCC with the potential to expand to additional indications and lines of treatment Current focus of abi-suva Future potential for abi-suva 1L r/m HNSCC HPV16+ driven cancers Incidence of HPV16+ driven HNSCC cancers Incidence of HPV16+ driven cancers in EU in
Slide 18: First patient dosed in randomized Phase 2 Abili-T trial
First patient dosed in randomized Phase 2 Abili-T trial with first interim data expected in 2027 Trial design Key inclusion criterion Treatment Endpoints ORR Abipapogene suvaplasmid + pembrolizumab PFS • HPV16+ r/m HNSCC DOR • PD-L1+ R RMDOR • Measurable disease (1:1) DCR • ECOG PS 0-1 OS • GRIm 0-1
Slide 19: Tolerance
Tolerance Nykode Therapeutics | Q2'26 webcast | Non-confidential 19
Slide 20: ASIT: A new era of immunotherapy
ASIT1: A new era of immunotherapy The hammer The screwdriver Today’s standard of care Nykode ASIT precision tolerance Broad immunosuppression that shuts the Targets only the disease-driving cells fixes whole system down, damaging healthy the mechanism without breaking it. machinery. Nykode Therapeut
Slide 21: Advancing Nykode's ASIT technology towards development path
Advancing Nykode’s ASIT technology towards development path Builds on the same technology as oncology assets Key highlights of Nykode’s APC ASIT Technology • Targets antigen-presenting cells (APCs), the key • Strong and durable efficacy across disease regulators of immune responses models – therapeu
Slide 22: Q2 2026 Financial Results
Q2 2026 Financial Results Nykode Therapeutics | Q2'26 webcast | Non-confidential 22
Slide 23: Income Statement
Income Statement Other income Amounts in USD ‘000 Q2 2026 Q2 2025 YTD 2026 YTD 2025 • Government grants from SkatteFUNN Other income 106 198 346 335 Employee benefit expenses Total other income 106 198 346 335 • Decrease in 2026 mainly due to reduced Employee benefit expenses 2,290 2,934 5,163 6,642
Slide 24: Balance Sheet
Balance Sheet Cash and cash equivalents Amounts in USD ‘000 30/06/2026 31/12/2025 • Cash position of $44.8m at June 30, 2026 ASSETS Other non-current receivables Non-current assets • Mainly reflects the NOK 325m payment to the Property, plant and equipment 2,692 3,044 Norwegian Tax Authorities (NTA)
Slide 25: Balance Sheet - contd.
Balance Sheet - contd. Amounts in USD ’000 30/06/2026 31/12/2025 Equity EQUITY AND LIABILITIES • Total equity of $80.4m as per June 30, 2026 Equity Share capital 367 367 • Equity ratio of 93% Share premium 96,707 96,707 Other capital reserves 18,826 18,653 Other components of equity (3,033) (3,006)
Slide 26: Outlook and closing remarks
Outlook and closing remarks Nykode Therapeutics | Q2'26 webcast | Non-confidential 26
Slide 27: Well-positioned to execute strategy and meet inflection points
Well-positioned to execute strategy and meet inflection points Cash runway H2 2026 2027 Cash runway into 2028-2029* Full focus on enrolment in Abili-T Abili-T first interim analysis (2027) including expanding number of Cash runway exceeding countries and sites Additional peer data readout significan
Slide 28: Q&A
Q&A • Michael Engsig, CEO • Agnete Fredriksen, CSO and Business Development • Harald Gurvin, CFO Q2'26 webcast | Non-confidential 28
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