Slide 1: Q2 2024 Report
Q2 2024 REPORT August 14, 2024 1
Slide 2: Important: You must read the following before continuing
© oncopeptides IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Oncopeptides AB (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the o
Slide 3: Presenters
Presenters Sofia Heigis, Chief Executive Officer Henrik Bergentoft, Chief Financial Officer Q2 highlights and commercial update Financial update 3
Slide 4: Where we are right now
Where we are right now KEY Q2 HIGHLIGHTS OTHER HIGHLIGHTS • Revenues of SEK 8.2m in Q2 2024 • Pepaxti available in Spain since May. (SEK 5.1m in Q1 2024), cash position Strong early interest in the drug, of SEK 383m. expected sales pickup during H2 2024 following regional access. • On track to cash
Slide 5: Set for continued acceleration in 2024
Set for continued acceleration in 2024 Net sales in Europe, SEK million Ready for acceleration in 2024 End 2026 2024 (proj.) ✓ Innovative price negotiated in 8.5 400+ Germany, Austria, Spain. • • ✓ Increased positive clinical experience, 2024 2023 spontaneous awareness and KOL 5.1 +350% 5.3 support.
Slide 6: Financial Update
FINANCIAL UPDATE Henrik Bergentoft Chief Financial Officer 6
Slide 7: Financial summary
Financial summary MSEK Apr-Jun Apr-Jun 2023 2024 Net sales 26.0* 8.2 COGS -0.0 -0.9 *Q2 2023 includes reversal of return reserve in the USA of 24 Gross profit 25.9 7.2 MSEK – underlying revenue amounts to 1.9 MSEK Expenses -89.1 -80.5 Other operating income/expense 0.8 0.0 EBIT -62.4 -72.3 Net finan
Slide 8: Operating expenses
Operating expenses MSEK • R&D, decreased from 38 MSEK in Q2-23 to 28 120 MSEK in Q2 -24. 89 • No studies currently ongoing. 100 MSEK 80 • S&M, increased from 33 MSEK in Q2 -23 to 36 MSEK MSEK in Q2 -24. 80 • Progressing in Europe with launch in Spain in Q2-24. 60 • G&A, decreased from 19 MSEK in Q2
Slide 9: Liquidity
Liquidity MSEK 450 • Cash was 383 MSEK by end of Q2-24 383 MSEK compared to 178 MSEK by year end 2023 400 and 105 MSEK in Q1-24. • Cash includes a positive timing effect of 350 in and out going VAT payments of 105 300 MSEK. • Rights issue completed in May 2024 250 infused 270 MSEK after issue relate
Slide 10: Commercial Update
COMMERCIAL UPDATE Sofia Heigis Chief Executive Officer 10
Slide 11: Key investor highlights for Pepaxti's European Commercialization
Key investor highlights for Pepaxti’s European Commercialization Multiple Myeloma is incurable and offers an expanding market opportunity 1. currently estimated at SEK 1.5 billion* for Pepaxti. Pepaxti is fully approved in Europe in a late-stage patient population with very 2. few treatment options
Slide 12: Attractive business model with high profitability
Attractive business model with high profitability Cost efficient business Low COGS Low local costs High margins Short time to break- model even Commercial cost are COGS for Pepaxti is low Local (country specific) Low country specific EBITA break even on local whereas supply, generating a gross cost
Slide 13: European Launch Sequence
European Launch Sequence Market Access plan Phase I proceeding according to plan. ≈55% Phase II Phase I and II expected to - completed take company to Our ambition: profitability. Phase II - pending launch as fast as possible with a price reflecting our innovation ≈35% Phase III - providing patient
Slide 14: From authorization to sales in European markets
From authorization to sales in European markets Process between receiving marketing authorization and healthcare professional uptake 1 Value dossier and 2 Cost effectiveness 3 Price negotiations 4 Regional access KOL engagement benefit discussion Healthcare Marketing professional authorization uptak
Slide 15: Roadmap to commercialization in Europe
Roadmap to commercialization in Europe Objective: maximized value for patients and shareholders 1 2 3 4 Marketing Value dossier and Cost effectiveness Healthcare Price negotiations Regional access authorization KOL engagement benefit discussion professional uptake Simplified Sweden Netherlands Norwa
Slide 16: Treatment landscape supports Pepaxti medical need
Treatment landscape supports Pepaxti medical need Treatment Earlier lines treatment 4th line and beyond Market drivers landscape Incurable disease Rapidly evolving Immonu- Antii-CD38 treatment landscape modulators Monoclonal (IMIDs) antibodies Unmet medical need More drugs focus on “Conventional” fo
Slide 17: Our potential
Our potential Pipeline Our pipeline contains promising assets in terms of assets new platforms. A high global unmet medical Pepaxti in need creates sales potential – Next step value rest of the current focus is on Japan, drivers world China and South Korea. Current value Market potential Pepaxti in
Slide 18: Global commercialization progress
Global commercialization progress Pepaxti available Oncopeptides’ commercialization Partnership discussions ongoing 18
Slide 19: Pipeline assets
Pipeline assets SPiKE: A platform with exciting potential • Small Polypeptide based innate Killer Engager (SPiKE) immunotherapy takes advantage of natural killer (NK) cells, the immune system’s first-line of defense against viruses and other foreign cells (e.g. cancer cells). • The SPiKE platform pr
Slide 20: Utilizing the immune system to fight cancer: An evolving field
Utilizing the immune system to fight cancer: An evolving field T-cells – Clinically proven NK-cells – Novel, clinically unproven ➢ CAR-T – Introduction of synthetic TCR-complexes ➢ Introduction of modified NK-cells into patients – in (targeting antigen of choice). early clinical trials. ➢ Bi-specifi
Slide 21: Overview of SPiKE platform
Overview of SPiKE platform • Best-in-class preclinical NK-cell activity data. • Short distance between SPiKE binding interfaces puts innate immune cell in close contact with tumor cell - “proximity is avidity” – advantage over e.g., Mabs. • Good tissue distribution allows solid tumor applicability.
Slide 22: Key investor highlights for Pepaxti's European Commercialization
Key investor highlights for Pepaxti’s European Commercialization Multiple Myeloma is incurable and offers an expanding market opportunity 1. currently estimated at SEK 1.5 billion* for Pepaxti. Pepaxti is fully approved in Europe in a late-stage patient population with very 2. few treatment options
Slide 23: Q&A
Q&A 24
Slide 24: Bringing hope through science
Bringing hope through science © oncopeptides