Oncoinvent Asa · OSL:ONCIN
Oncoinvent Asa — Q1 2024 Earnings Presentation
23 slides from Oncoinvent Asa's earnings presentation, May 29, 2024
Slide 1: Advancing selective AXL inhibition
Advancing selective AXL inhibition Q1 2024 presentation
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained in this presentation or forecasts will come to pass or that any forecast result constitute forward-looking statements. Forward-looking will be achieved, and you are cautioned not to place any statements are statements that are not historical fa
Slide 3: Highlights: advancing into next development stage
Highlights: advancing into next development stage • Phase 2a of the BGBC016 study in first-line STK11m NSCLC patients initiated after recommendation from independent Drug Safety Monitoring Board • Bemcentinib remains the leading selective AXL inhibitor in the clinic and was selected for inclusion in
Slide 4: 1L STK11m NSCLC: A Significant Opportunity
1L STK11m NSCLC: A Significant Opportunity 4
Slide 5: Unmet needs in 1L NSCLC – STK11m & PDL1 neg/low
Unmet needs in 1L NSCLC – STK11m & PDL1 neg/low Bemcentinib expected to address NSCLC patients with the highest unmet needs 1. PD-L1 levels predicts response to Immunotherapy 2. Mutational status predicts response to Targeted Therapies ~31,000 pts per year** 2% 2% 3% 5% Currently 5% ALK Mutations Ac
Slide 6: Evidence substantiating the high unmet medical need in STK11m NSCLC continues to grow
Evidence substantiating the high unmet medical need in STK11m NSCLC continues to grow 6
Slide 7: Large potential in >30,000 1L STK11m NSCLC pts
Large potential in >30,000 1L STK11m NSCLC pts U S/E U 5 2024 US Market Potential 2024 Market Potential in EU5 15,000 1L STK11 NSCLC pts 15,400 1L STK11 NSCLC pts without actionable without actionable mutations mutations Total market X $20,000/month price X $9,000/month price potential in major 5 te
Slide 8: The case for AXL inhibition with bemcentinib in 1L STK11m NSCLC
The case for AXL inhibition with bemcentinib in 1L STK11m NSCLC 8
Slide 9: Bemcentinib: highly differentiated AXL inhibitor
Bemcentinib: highly differentiated AXL inhibitor Selective, potent – improved AXL inhibition with fewer side effects Concentrates in lung (40x); crosses blood-brain barrier Extensive safety data base: studied in over 600 patients Monotherapy activity seen in multiple indications Proven combinations:
Slide 10: AXL on tumor and immune cells critical for survival and disease spread
AXL on tumor and immune cells critical for survival and disease spread AXL on tumor cells AXL on immune cells • Bemcentinib inhibition of AXL expected to play a dual role in the tumor and immune system • Bemcentinib adds benefit in combo with both chemotherapy and CPI • Treating 1L pts before they d
Slide 11: Strong rationale for bemcentinib in STK11m pts
Strong rationale for bemcentinib in STK11m pts STK11-deficient tumor • STK11m NSCLC patients have a highly immuno- suppressive immune system with: • Striking infiltration of immunosuppressive cells • Exclusion of inflammatory immune cells Adapted from Mograbi et al. (Diagnostics, 2021) • AXL express
Slide 12: BGBC016 in 1L STK11m NSCLC on schedule
BGBC016 in 1L STK11m NSCLC on schedule • BGBC016 Phase 1b “run-in” studying bemcentinib + IO + chemotherapy • Review of safety data by the Data Safety Monitoring Board allowed proceeding through the planned dose cohorts and the initiation of the Ph2a part • Interim analysis of ORR, PFS on schedule:
Slide 13: Bemcentinib only AXL inhibitor in development for STK11m
Bemcentinib only AXL inhibitor in development for STK11m Bemcentinib earliest entry into clinic in 1L STK11m patients Specific to Company/MoA Current Phase* Specific to 1L? NSCLC Population STK11m pts? BGB/AXL inhibitor + anti-PD1+ Ph 1b/2a STK11m chemo STK11m, KEAP-1m, AZ/anti-PD1+anti-CTLA4 Ph 3b
Slide 14: The case for bemcentinib in 1L STK11m NSCLC
The case for bemcentinib in 1L STK11m NSCLC • Growing awareness of need for STK11m treatment options in medical community • AXL expression is a key driver of resistance to CPI and chemo in STK11m patients • STK11m patients presents high expression of AXL on immune and tumor cells • Efficacy of bemce
Slide 15: New NIH funded study (BGBIL025) in pre-treated NSCLC
New NIH funded study (BGBIL025) in pre-treated NSCLC 15
Slide 16: Preclinical data support new trial: AXL & STAT3 upregulated in advanced lung cancer
Preclinical data support new trial: AXL & STAT3 upregulated in advanced lung cancer Cell Reports, 2023, 10.106/113067 16
Slide 17: BGBIL025 trial highlights
BGBIL025 trial highlights • Trial led by Josephina Taverna, M.D., Assistant Professor, The University of Texas Health Science Center at San Antonio, in collaboration with BGB and Sobi® • Dr. Taverna and her colleagues identified AXL and STAT3 as working together to transmit signals by tumor-associat
Slide 18: Key financials and newsflow
Key financials and newsflow 18
Slide 19: Key financials Q1 2024
Key financials Q1 2024 (NOK million) Q1 2024 Q1 2023 FY 2023 Focused strategy, cost saving initiatives Operating revenues 0.2 0.0 0.4 have reduced cash use Operating expenses 39.9 72.4 192.2 Operating profit (-loss) (39.8) (72.4) (191.8) • Net cash flow Q1 2024: Profit (-loss) after tax (36.1) (72.0
Slide 20: AGM May 2024 – Reverse share split
AGM 23 May 2024 – Reverse share split Reverse share split - number of shares to be consolidated in the ratio 100:1 • 100 current shares to be consolidated into 1 share with nominal value of NOK 10.00 • Total number of shares reduced from 3.9 billion to 39 million • Corporate value is not impacted •
Slide 21: Newsflow expected in 2024
Newsflow expected in 2024 H1 2024 H2 2024 1L STK11m NSCLC • Ph1b enrollment completion • Safety overview of Phase 1b ü Initiation of Ph2a study in US & EU • Interim analysis of Phase 2a • Additional PBMC MoA data • Establishment of synthetic control arm Other Newsflow H1 2024 H2 2024 ü Warrant exerc
Slide 22: Clear focus to unlock significant value potential
Clear focus to unlock significant value potential • Focused approach in 1L STK11m NSCLC • DSM Board review of 1b data resulted in progress of planned dose cohorts and opening of Phase 2a (globally) • Phase 2a – majority of sites now open for enrollment • Interim analysis from Phase 2a end 2024 / H1
Slide 23: Address, phone number and e-mail
A d d re s s Mo l l e n d a l s b a k ke n 9 , 5 0 0 9 B e rg e n , N o r way P h o n e Nu mb e r + 47 559 61 159 E - ma i l p o s t @b e rg e n b i o . co m 23