Ultimovacs ASA: Third quarter 2020 result presentation

 

Oslo, 12 November 2020: Ultimovacs ASA ("Ultimovacs", ticker ULTIMO), a
pharmaceutical company developing novel immunotherapies against cancer,
announces its third quarter 2020 results today. A presentation by the company's
management team will take place today on a webcast at 09:00 CEST. 

The presentation can accessed through this link


Highlights for the third quarter of 2020:

o In the INITIUM trial, a total of twelve patients have been enrolled as per
reporting date (compared to three patients reported in the previous quarterly
report). INITIUM is a randomized, multi-center Phase II trial evaluating UV1 as
a treatment for first-line patients with metastatic malignant melanoma.

o In the NIPU trial, a total of six patients have been enrolled as per reporting
date (compared to four patients reported in the previous quarterly report). NIPU
is a randomized, multi-center Phase II trial in which UV1 is investigated as a
second-line treatment in mesothelioma. 

o The Covid-19 situation has so far had fairly limited impact regarding site
openings and patient inclusion in the Phase II clinical trials. The longer-term
effect of the pandemic on the biotech industry and the general ability to
conduct clinical trials is still uncertain. 

o In the fully enrolled US-based Phase I trial in malignant melanoma, positive
topline results from the first cohort of 20 patients were announced in September
2020. The results confirm achievement of the primary endpoints of safety and
tolerability and indicate initial signs of clinical response: the 12-month
Overall Survival (OS) rate was 85% and median Progression Free Survival (mPFS)
was not reached after 12 months. 

o Five-year overall survival data from the Phase I trial evaluating UV1 as
maintenance therapy in patients with non-small cell lung cancer was reported in
October 2020. The results confirm achievement of the primary endpoints of safety
and tolerability and indicate encouraging initial signals of long-term survival
benefit. At the five-year landmark, the OS rate was 33% and mPFS was 10.7
months. (Post-period event)

o In May 2020, Ultimovacs announced a collaboration with a non-specified big
pharma company and a leading European oncology clinical trial group to evaluate
UV1 in a third Phase II clinical trial. As communicated in September 2020,
finalization of the agreement and announcement of the collaboration is expected
during the fourth quarter of 2020.

o The regulatory approval is now in place to start the Phase I TENDU trial. This
trial will investigate a prostate cancer specific vaccine based on the TET
technology. The first patient is expected to be enrolled in the first quarter of
2021.

o Total operating expenses amounted to MNOK 31.1 in Q3-20 and MNOK 98.6 YTD.
Cash flow from operations was MNOK -29.6 in Q3-20. Total cash and cash
equivalents were reduced by MNOK 29.2 during Q3-20, amounting to MNOK 453.5 as
per 30 September 2020.

The report and presentation are also available on the company website:
www.ultimovacs.com/investors/reports-and-presentations
 

For further information, please visit www.ultimovacs.com or contact:

Carlos de Sousa, CEO 
Email: carlos.desousa@ultimovacs.com
Phone: +47 908 92507 

Hans Vassgård Eid, CFO 
Email: hans.eid@ultimovacs.com
Phone: +47 482 48632