Orexo AB (ORX) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Your line is muted. Good afternoon, everyone, and welcome to this second quarter interim report presentation from me, Niklas Arntzen, the CEO of Orexo and Fredrik Jastén, who is the CFO of the company. So those of you who have been following the day, you understand that this quarter, the second quarter of this year, we have continued to clean up the company and going through the transformation after the sale of Subsov in the end of last year. This has had some impact both in terms of operational expenses, where we have resolved disputes and discussions with suppliers, so we're taking a one-time cost on some of these contracts to exit some of those contracts. We have also continued to phase out employees from the US and also reduced the staff in Sweden during the quarter. So all in all, we have in this quarter, we have an inflated both cash flow position and OPEX position, which is driven by this transformation that we're going through. But we feel it's important right now for the company to come through with a clean slate and be as transparent as possible of where we stand at the moment. So where are we right now? I think in parallel with working through all of these different operational items to prepare the company for the new future, we of course continue to work in our R&D programs, which is really where we're building value long term. And if we look at what we have accomplished during the quarter, our 390 project we have gone through in vivo study, which has positive results. ICIPRI, we are well on track to file in Q3 in September with 640. We are on track to start the clinical trial that we are scheduled in for Q4 this year. We are also during the quarter, we started what we can call an early stage scientific collaboration with an external pharmaceutical compan...