Oslo, 14 May 2020: Ultimovacs ASA (“Ultimovacs”, ticker ULTIMO), a
pharmaceutical company developing novel immunotherapies against cancer,
announces its first quarter 2020 results today. A presentation by the company’s
management team will take place today on a webcast at 09:00 CET. The new CEO,
Carlos de Sousa, who will join Ultimovacs on 1 June 2020, will give an
introduction of himself during the presentation.
The presentation can be followed as a live webcast (access through the link
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20200514_4) which will
also be available on our website.
Highlights for the first quarter of 2020:
o Despite the temporary halt in clinical trial activities at several hospitals
caused by the covid-19 situation, the first site in the INITIUM trial has
recently opened for patient inclusion. In total, an opening of 35-40 sites are
planned for this trial. Several additional sites are expected to open in Norway
and the US during Q2-20. The INITIUM trial is a randomized phase II trial for
investigation of UV1 as treatment for first-line patients with metastatic
malignant melanoma.
o Similarly, the first out of totally six planned sites in the NIPU trial has
also opened for patient inclusion. The NIPU trial is a randomized, multi-center
phase II trial where UV1 is investigated as second-line treatment in
mesothelioma.
o In the US based phase I trial in malignant melanoma, in which UV1 is given in
combination with a PD-1 checkpoint inhibitor, 8 of the planned 10 patients in
cohort 2 (dose finding GM-CSF) have been included as per the reporting date of
the Q1-20 report. Four of these patients have been included in the period of
covid-19 related lockdown in the US. No unexpected safety issues have been
observed to date.
o Total operating expenses amounted to MNOK 31.3 in Q1-20. Negative cash flow
from operations was MNOK 32.4 in Q1-20. Total cash and cash equivalents was
reduced by MNOK 31.5 during Q1-20, amounting to MNOK 367.7 as per 31 March 2020.
The report and presentation are also available on the company website.
For further information, please see www.ultimovacs.com or contact:
Øyvind Kongstun Arnesen, CEO
oeyvind.arnesen@ultimovacs.com, +47 469 33810
Hans Vassgård Eid, CFO
hans.eid@ultimovacs.com, +47 482 48632