Orexo AB (ORX) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the conference call. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answer session, participants are able to ask questions by dialing star 5 on their telephone keypad. Now I will hand the conference over to the speakers. Please go ahead. Thank you very much, and welcome to this third quarter call for Rexo. It has indeed been a transformative quarter in many ways for the company, in particular in our R&D departments where we have made very good progress in two projects, and I will come back to that a little later. Today, I'm Nicolai Sorensen, and I will be joined by Fredrik Gerstein, our CFO, and this time also Ed Kim, our chief medical officer, who I believe will be new to many of you, but Ed Kim will talk a little bit more about our OEC 390 project and why we think this is an important project both for Oryxo, but also for the U.S. We will go through the business update. I will take that, and as I said, it will come in on the products under development, focusing on OECD 390. Frederik will take us through the financials before I will close out with the legal update and some approach for expansion for where we think we have some future value drivers. Starting with a brief overview of the quarter, as I said in the introduction here, we have made some great progress in our pipeline, in particular with our GLP-1 agonist project that we have works 472, where we showed some very promising in vivo data. And also we received a BARDA fund, which initially is worth $8 million, but could be all the way up to $51 million, where BARDA will finance the majority of our Work 390 project. During the quarter, our work with ICPRI, formerly known as OX124, has proceeded well, and we are now starting the reliabi...