Circio Holding Asa · OSL:CRNA
Circio Holding Asa — Targovax — Q1 2018 Earnings Presentation
21 slides from Circio Holding Asa's earnings presentation, May 3, 2018
Slide 1: First quarter results 2018: Arming the patient's immune system to fight cancer
First quarter results 2018 Arming the patient’s immune system to fight cancer 1Q 2018 presentation 3 May 2018 www.targovax.com
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: Agenda
Agenda 1Q 2018 Highlights ONCOS-102 Mesothelioma update 1Q 2018 Financials www.targovax.com 3
Slide 4: Highlights from the first quarter 2018
Highlights from the first quarter 2018 The safety lead-in cohort of ONCOS-102 in mesothelioma was completed without any concerns ONCOS-102 generated immune activation in the first treated Research & patients in the mesothelioma trial Development ONCOS-102 generated immune activation in 4/4 patients
Slide 5: Targovax has two immuno-oncology programs in clinical development
ONCOS TG Targovax has two immuno-oncology programs in clinical development o Genetically armed adenovirus ONCOS o Makes cancer antigens visible to immune system Oncolytic virus o Induces T-cells specific to patients’ tumor TG o Shared neoantigen, off-the-shelf cancer vaccine RAS neoantigen o Targets
Slide 6: Overview of Targovax' full clinical program
ONCOS TG Interim data Overview of Targovax’ full clinical program Clinical, immune and safety data 2018 2019 2020 Cancer Indication H1 H2 H1 H2 H1 Resected Pancreas Ph l/II Resected Pancreas TG Planned Phase II (lead-in) Planned registration program Colorectal Phase lb Melanoma Phase l ONCOS-102 Mes
Slide 7: ONCOS clinical program overview
ONCOS TG ONCOS clinical program overview o Combination with PD-1 Melanoma CPI in refractory patients Phase I o Proof-of-concept 12 patients o Memorial Sloan Kettering Mesothelioma o Combination with chemo SoC Phase I/II - controlled o Randomized trial 30 patients o Orphan indication Compassionate In
Slide 8: Agenda
Agenda 1Q 2018 Highlights ONCOS-102 Mesothelioma update 1Q 2018 Financials www.targovax.com 8
Slide 9: ONCOS clinical program overview
ONCOS TG ONCOS clinical program overview o Combination with PD-1 Melanoma CPI in refractory patients Phase I o Proof-of-concept 12 patients o Memorial Sloan Kettering Mesothelioma o Combination with chemo SoC Phase I/II - controlled o Randomized trial 30 patients o Orphan indication Compassionate In
Slide 10: Malignant pleural mesothelioma is a difficult-to-treat cancer of the lining of the lung
ONCOS TG Malignant pleural mesothelioma is a difficult-to-treat cancer of the lining of the lung o Orphan disease, estimated 15,000 new cases per year (EU, USA, Australia) o Often caused by asbestos exposure o Diagnosis usually too late for surgery o No significant treatment advance in the last deca
Slide 11: Mesothelioma treatment options
ONCOS TG Mesothelioma treatment options o Offers best prognosis, but only about 10% of Surgery patients are resectable o Technically challenging due to location o Rarely used as the shape of mesothlioma Radiotherapy tumors make them hard to target o Mainly palliative care o Pem/Cis only approved SoC
Slide 12: ONCOS-102 in Mesothelioma – Phase I/II study design
ONCOS TG ONCOS-102 in Mesothelioma – Phase I/II study design Safety lead-in completed Experimental group (n=14) ONCOS-102 (6 administrations) Non-randomized Patient population SoC (6 cycles) Safety lead-in (n=6) Randomized Advanced malignant GO ONCOS-102 pleural mesothelioma plus SoC chemotherapy (6
Slide 13: Mesothelioma trial: Early signal of clinical efficacy in the 6 patient safety lead-in cohort
ONCOS TG Mesothelioma trial: Early signal of clinical efficacy in the 6 patient safety lead-in cohort ✓ Phase Ib safety lead-in cohort of six patients completed with no safety concerns Safety ✓ ONCOS-102 first time in combination with chemotherapy ✓ Now recruiting patients into the randomized phase
Slide 14: Mesothelioma trial: Safety cohort patient split and clinical responses
ONCOS TG Mesothelioma trial: Safety cohort patient split and clinical responses Clinical response o 1 partial reponse 2 patients o 1 stable disease 1st line treatment 3 patients Progression of disease o No previous chemo- 1 patient therapy treatment Safety lead-in cohort 6 patients Clinical response
Slide 15: ONCOS-102 opportunity in malignant mesothelioma
ONCOS TG ONCOS-102 opportunity in malignant mesothelioma Rationale for ONCOS-102 opportunity in mesothelioma o ONCOS-102 has the opportunity to become standard of care in 1st line treatment - In combination with current SoC chemotherapy o ONCOS-102 has orphan drug designation in mesothelioma in both
Slide 16: Agenda
Agenda 1Q 2018 Highlights ONCOS-102 Mesothelioma update 1Q 2018 Financials www.targovax.com 16
Slide 17: Targovax has a sound financial position, with cash to complete the planned clinical program
CORPORATE Targovax has a sound financial position, with cash to complete the planned clinical program well into 2019 Operations Cash end of Q1 NOK 229m USD 29m Mar 31st 2018 Net cash flow NOK -32m USD -4m Total Q1 Annual run rate NOK 113m USD 15m Last four quarters The share OSE: TRVX Market Cap NOK
Slide 18: The increase in run rate over the last months is driven by higher spend on R&D
CORPORATE The increase in run rate over the last 12 months is driven by higher spend on R&D R&D spend (NOK million) 2Q16 - 2Q17 - 1Q17 1Q18 Other 45.6m Other 45.6m 39% 36% 70.0m 80.8m R&D 61% R&D 64% Total: 115.6m Total: 126.4m 12 months rolling (Amounts in NOK thousands) 2Q 2016 - 1Q 2017 2Q 2017 -
Slide 19: Targovax is listed on the Oslo Stock Exchange, and included in the OSEBX index
CORPORATE Targovax is listed on the Oslo Stock Exchange, and included in the OSEBX index as of December 2017 TRVX share turnover (% of share capital, rolling 12 month) • NOK ~850 m market cap • NOK 3m avg. daily turnover in last 6 months • NOK 213m total turnover in 1Q • 190k shares avg. daily volum
Slide 20: News flow – Multiple near-term value inflection points
News flow – Multiple near-term value inflection points 2017 2018 2019 2020 H1 H2 H1 H2 H1 H2 H1 Melanoma OvCa / Col. Pancreas Initiation ph l/ll ph l ph II Colorectal Prostate ph Ib ph I Pancreas Colorectal Pancreas Colorectal 2yr survival safety data full data full data Read-outs Melanoma Melanoma
Slide 21: Arming the patient's immune system to fight cancer
Arming the patient’s immune system to fight cancer Broad clinical ✓ Six shots on goal program ✓ Several upcoming data points ONCOS ✓ Demonstrated ability to increase T-cell count ✓ Early signal of efficacy in difficult-to-treat tumors ✓ Unique approach for targeting RAS mutations TG ✓ Potential to b