Nordic Nanovector ASA - Results for Fourth Quarter and Full Year 2016 - Seite 3

• First sites in US are now open for the Phase 1 study in relapsed DLBCL

Financial Highlights Fourth Quarter and Full Year 2016
(Figures in brackets = same period 2015 unless otherwise stated)

• Revenues in the fourth quarter 2016 amounted to NOK 0.079 million (NOK 0.143 million). Revenues for the full year 2016 were NOK 0.314 million (NOK 0.437 million).
• Total operating expenses for the fourth quarter were NOK 65.4 million (NOK 33.4 million). Total operating expenses for the full year 2016 were NOK 216.7 million (NOK 183.5 million).
• Comprehensive loss for the fourth quarter amounted to NOK 59.3 million (loss of NOK 31.0 million). Comprehensive loss for the full year 2016 was NOK 235.8 million (NOK 173.1 million).
• Cash and cash equivalents amounted to NOK 1,018.2 million at the end of December 2016 (NOK 560.1 million at the end of September 2016 and NOK 743.4 million at the end of December 2015).

Outlook

Looking forward, the company intends to leverage this progress and its strengthened financial position to drive an expanded and extended strategy towards achieving its broader long-term ambitions: maximize the value of its novel targeted biopharmaceutical candidates across all stages of FL and other major haematological cancer indications, to prepare for the commercialisation of Betalutin® and to selectively extend its pipeline.

The competitive profile for Betalutin® remains promising. Strong results and good progress in the Lymrit 37-01 clinical study give the company confidence that it is on track to select a dosing regimen for Betalutin® in Phase 2. Management will continue to focus its efforts on the efficient execution of its plans and to meet anticipated clinical milestones. Current cash resources are now expected to be sufficient to take the company beyond a planned first regulatory submission for Betalutin® in FL in the first half of 2019 and to meet value-generating clinical milestones in its other programmes.

Presentation and webcast details

 A presentation by Nordic Nanovector's senior management team will take place today at 8:30 a.m. CET at:

Thon Hotel Vika Atrium
Munkedamsveien 45
0250 Oslo

Meeting Room: NYLAND

The presentation will be recorded as a webcast and will be available at www.nordicnanovector.com in the section: Investor Relations/Webcast.

The results report and the presentation will be available at www.nordicnanovector.com in the section: Investor Relations/Reports and Presentation/Quarterly Reports/2016 from 7:00 am CET today.