Q3 2024 Mendus AB (publ) Earnings Call Transcript
Key Points
- Mendus AB (STU:1YG0) has opened the first clinical centers for the AM LM 22 cadence trial, marking a significant step in their research efforts.
- The manufacturing alliance with North X for large-scale production of their lead product is on track, ensuring readiness for pivotal stage development.
- The collaboration with Insig Bonni allows Mendus AB (STU:1YG0) to reenter the clinic with their second clinical stage product, ELIXA Ensel, targeting soft tissue sarcomas.
- Mendus AB (STU:1YG0) has extended their cash runway, improving cost efficiencies and ensuring financial stability until mid-next year.
- The company is preparing for phase three readiness by mid-next year, with a focus on pivotal stage development for their lead product.
- The net result for Q3 was a loss of 23 million, indicating financial challenges.
- Cash flow from operating activities was lower than the net result, primarily due to prepaid costs for the manufacturing alliance.
- The cadence trial experienced delays in site activation, which could impact timelines for data readouts.
- Only a minority of patients respond to checkpoint inhibitors, highlighting challenges in improving efficacy.
- R&D expenses were notably lower in Q3, partly due to reduced activity during the vacation period, which may affect progress.
Thank you and welcome everybody to the kiss. We cost and also the business updates that we can provide at this point in time as a summary of Q3 and also some of the significant events that we reported after the reporting date, we have opened the first clinical centers for the AM LM 22 cadence trial. This is a trial run by the Osas Leukemia and Lymphoma Group. And they opened up the first centers in Australia which we also communicated via LinkedIn yesterday. But we're happy that the trial is finally open for recruitment.
We have worked with no X our manufacturer with whom we have a manufacturing alliance for implementation of the large-scale manufacturing of our lead product. Vs, it's a crucial part of our preparations for pivotal stage readiness. And we're happy to report that the alliance is on track.
The collaboration we announced in July with Insig Bonni allows us to reenter into the clinic. Our second clinical stage product ELIXA Ensel and we will study this program in soft tissue sarcomas will provide more background of that indication. And the trial during the call, we will have a
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