Nordic Nanovector ASA - Results for the Second Quarter and First Half 2019 - Seite 2

(Figures in brackets = same period 2018 unless otherwise stated)

• Revenues for the second quarter amounted to NOK 0.0 (NOK 0.0 million). Revenues for the first half of 2019 were NOK 0.0 (NOK 0.0 million).
• Total operating expenses for the second quarter were NOK 111.0 million (NOK 84.5 million). Total operating expenses for the first half of 2019 amounted to NOK 200.9 million (NOK 166.8 million)
• Research and development (preclinical, clinical, medical affairs, regulatory and CMC activities) expenses accounted for 77 % of total operating expenses (72.2 %) for the first half of 2019.
• Comprehensive loss for the second quarter amounted to NOK 110.4 million (loss of NOK 82.9 million). Comprehensive loss for the first half was NOK 202.0 million (loss of NOK 173.6 million)
• Cash and cash equivalents amounted to NOK 443.5 million at the end of June 2019 (NOK 570.1 million at June 2018 and NOK 440.1 million at 31 December 2018)

Upcoming R&D Day

Nordic Nanovector is planning to host and R&D Day in September. During the event the senior management team and external speakers will provide updates and further information on the company's key activities. The R&D Day will take place in Oslo and will also be webcast live. Details on the date and how to register to attend will be announced within the next two weeks.

Outlook

Nordic Nanovector aspires to become a leader in the field of targeted therapies for haematological cancers by developing, manufacturing and commercialising innovative therapies to address major unmet medical needs and advance cancer care.

Betalutin, the company's most advanced product candidate, has a highly differentiated, competitive, clinical profile for recurrent FL, based on the promising results from the LYMRIT 37-01 Phase 1/2 clinical trial. The company's pivotal Phase 2b PARADIGME trial with a once-only administration of Betalutin in 3L R/R FL is underway. Patient enrolment is expected to be completed in the second half of 2020. A data read-out is expected a few months after the final patient is dosed enabling filing for marketing approval in the first half of 2021.