OSLO, Norway, Feb. 18, 2021
OSLO, Norway, Feb. 18, 2021 /PRNewswire/ -- Nordic Nanovector ASA (OSE: NANOV) announces its results for the fourth quarter and full year 2020. A live webcast presentation by Nordic Nanovector's management team will take place today at 08.30 CET. A link to the webcast and the presentation is available from the company's homepage (www.nordicnanovector.com).
Lars Nieba, interim Chief Executive Officer of Nordic Nanovector, commented: "The company has made significant efforts during 2020 to improve both the execution of PARADIGME and the chances of a viable regulatory filling outcome. The progress made, despite the challenging global environment, has been encouraging and we are pleased to see the enrolment rate into PARADIGME improving. We remain convinced of the commercial potential of Betalutin® based on the competitive efficacy data that was seen at the time of the Interim Analysis and in earlier studies, which could allow it to address an important unmet need in advanced FL. We continue to work hard to ensure that we complete PARADIGME in a timely fashion such that we can report preliminary three-month top-line data in H2'2021."
Financial Highlights Q4 and FY'2020
(Figures in brackets = same period 2019 unless otherwise stated)
Nordic Nanovector will continue to focus its resources on completing PARADIGME and continues to target the preliminary readout of three-month top line data from PARADIGME in H2'2021.
The company believes that, if positive, these trial data could represent a significant value inflection point for the company and its shareholders, confirming Betalutin® as a highly promising new targeted radioimmunotherapy that can address the unmet needs of R/R FL patients.
The company has streamlined its organisation and taken further steps to conserve cash. Following the successful private placement in September 2020, Nordic Nanovector has a cash runway that extends into Q3'2021.
Despite the challenging times, the many positive actions the company has taken during 2020 have improved the prospects of delivering preliminary readout of three-month top line data from PARADIGME in H2'2021 although the future impact of COVID-19 remains uncertain and may still impact the trial timelines. However, the recent improvements in recruitment pace for PARADIGME, while the COVID-19 pandemic has been severe, are encouraging.
The company also expects the readout of three-month top line data from the second cohort of the Archer-1 trial and the LYMRIT 37-05 trial in DLBCL in H1'2021. As stated, the company will assess these data and evaluate its plans for further development in these important NHL indications.
Presentation and Live Webcast
A live webcast presentation by Nordic Nanovector's management team will take place today at 08.30 CET. The webcast can be accessed from www.nordicnanovector.com in the section: Investors & Media and a recording will also be available on this page after the event.
The results report and the presentation will be available at www.nordicnanovector.com in the section: Investors & Media/Reports and Presentation/Interim Reports/2020 from 7:00am CET the same day
About Nordic Nanovector:
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company aspires to become a leader in the development of targeted therapies for haematological cancers. Nordic Nanovector's lead clinical-stage candidate is Betalutin®, a novel CD37-targeting antibody-radionuclide-conjugate designed to advance the treatment of non-Hodgkin's lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 29 billion by 2026. Nordic Nanovector retains global marketing rights to Betalutin® and intends to actively participate in the commercialisation of Betalutin® in the US and other major markets.
Further information can be found at www.nordicnanovector.com.
This information is subject to a duty of disclosure pursuant to Sections 4-2 and 5-12 of the Securities Trading Act.
For further information, please contact:
Malene Brondberg, CFO
Cell: +44 7561 431 762
Mark Swallow/Frazer Hall/David Dible (Citigate Dewe Rogerson)
Tel: +44 203 926 8535
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The following files are available for download:
Nordic Nanovector - Q4 FY 2020 presentation