Nordic Nanovector ASA: Results for the First Quarter 2022
OSLO, Norway, May 13, 2022 /PRNewswire/ -- Nordic Nanovector ASA (OSE: NANOV) announces its results for the first quarter 2022. A presentation by Nordic Nanovector's senior management team will be held in-person today in Oslo and webcast live beginning at 8:30am CET - details below.
Erik Skullerud, CEO of Nordic Nanovector, said: "The impacts from COVID-19 continued to linger during Q1 and meant the pick-up in recruitment into PARADIGME that we expected has not yet materialised. Nonetheless, we remain highly committed to completing patient recruitment for this important trial and expect to meet our timeline for readout of preliminary data in H2'2022. At the same time, our preparations for filing and commercialisation of Betalutin® are moving forward in advance of our planned BLA filing. New data presented or published in recent months continue to build and support the breadth and depth of our CD-37 focussed pipeline, from which, together with Betalutin®, we believe we can create significant value for shareholders over the longer term."
(Figures in brackets = same period 2021 unless otherwise stated)
Nordic Nanovector remains disciplined in the patient enrolment into PARADIGME and is targeting the readout of preliminary three-month top line data during H2'2022.
The company's current cash position will support its operations into H1'2023 and will enable further preparatory work on the potential Betalutin® BLA filing and planning for commercialisation to be undertaken.
The company believes that, if positive, the PARADIGME 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 continues to pursue opportunities for the development and expansion of its pipeline based on CD37-targeting immunotherapies, which offer risk diversification and multiple shots on goal.
Presentation and Webcast
A presentation by Nordic Nanovector's senior management team will take place in Oslo today at 8:30am CET at:
Thon Hotel Vika Atrium, Munkedamsveien 45, 0250 Oslo
Meeting Room: Bjørvika
The presentation will webcast live and will be available at www.nordicnanovector.com in the section: Investors & Media.
The results report and the presentation will be available at www.nordicnanovector.com in the section: Investors & Media/Reports and Presentation/Interim Reports/2022.
For further information, please contact:
Malene Brondberg, CFO
Mark Swallow/Frazer Hall (MEDiSTRAVA Consulting)
About Nordic Nanovector:
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs. The Company aspires to become a leader in the development of CD37-targeted therapies for haematological cancers and immune diseases. 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 27 billion by 2029. 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.
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SOURCE Nordic Nanovector
Company Codes: Bloomberg:NANOV@NO, ISIN:NO0010597883, Oslo:NANOV, RICS:NANOV.OL
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