Q2 2024 Nykode Therapeutics ASA Earnings Call Transcript
Key Points
- Nykode Therapeutics AS (STU:5VB) announced a strategic repositioning of its VB10.16 development plan, focusing on locally advanced cervical cancer and recurrent/metastatic head and neck cancer, which have significant commercial potential and unmet medical needs.
- Positive feedback from key opinion leaders and potential future partners regarding the new focus areas.
- Agreement with MSD to supply KEYTRUDA for the C-05 trial, which will be the first trial into locally advanced cervical cancer treatment.
- Exciting advancements in the mRNA oncology vaccine platform, showing superior immunogenicity and tumor control compared to antigen alone vaccines.
- Strong financial position with a cash reserve of $136.5 million at the end of the quarter, providing a solid foundation for future developments.
- Discontinuation of the C-04 trial due to changes in the dynamics related to the standard of care, impacting the timing and feasibility of the trial.
- Decision to discontinue further activities on the NYK011 preclinical program to reallocate resources within the oncology segment.
- Concerns about the impact of Genentech's reorganization on the partnership, although reassurances have been given that the collaboration remains unaffected.
- Potential delays in the recruitment numbers for trials, as seen with the C-04 trial, which could affect future timelines.
- Uncertainty regarding the exact timeline for the next key clinical readout for VB10.16, especially with the discontinuation of the C-04 trial.
Greetings, and welcome to the Nykode Therapeutics Q2 2024 financial results presentation. (Operator Instructions) As a reminder, this conference is being recorded.
It's now my pleasure to introduce your host, CEO, Michael Engsig. Please go ahead, sir.
Thank you very much, Kevin and also from our side, a very warm welcome to all participants at this webcast to go through the second quarter of Nykodes.
Of course, with me today, I'm pleased to have Agnete Fredriksen, Chief Scientific Officer and Head of Business Development. Harald Gurvin, our Chief Finalcial Officer; and Klaus Edvardsen, Head of Research and Development. We assume your're all familiar with our forward-looking statements. So on that note, we'll just quickly skip forward.
So as first quarter has been another eventful quarter. And in addition to that, we have this morning also announced a strategic repositioning, which we'll take you further through.
So I'm going to give you a brief run-on of the
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