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2020-07-13

Alligator Bioscience AB (publ) Interim report January-June 2020

Significant events April-June

  • ATOR-1015: The Phase I clinical study progressed well with eleven dose levels evaluated for initial safety. Interim data from up to 21 cancer patients was presented at the oncology conferences AACR and ASCO, showing a promising safety and tolerability for ATOR-1015. Currently, patients are given doses of 750 mg, approximately 12.5 mg/kg, every two weeks.
  • Mitazalimab: A preclinical collaboration agreement was signed with the Danish biotech company Scandion Oncology. The collaboration will further validate

mitazalimab's potential in combination therapy with diverse chemotherapeutic agents. Preparations are ongoing for a clinical phase II study with the aim to submit a CTA before year-end.

  • ATOR-1017: A first patent within the development program was approved by the U.S. Patent Office, and its earliest expiry year is 2037.
  • ALG.APV-527: Preclinical data, supporting that ALG.APV-527 has the potential to induce a strong anti-tumor immune response without systemic toxicity, was presented at PEGS Interactive Virtual Summit.
  • Biotheus agreement: Our collaboration partner Biotheus has chosen to continue the antibody collaboration after a thorough technical evaluation, resulting in a payment to Alligator of USD 0.5 million.
  • New CFO: Marie Svensson was appointed as the new CFO starting September 1, 2020.
  • Strategy: A strategic decision was taken to strengthen clinical focus with the aim to build value of the clinical drug candidates, while reducing preclinical expenses including a 20% reduction in workforce. The adjustments will extend Alligator's cash runway into the fourth quarter of 2021.
  • Effects of Covid-19: Patient recruitment in the Phase I studies was temporarily paused in March and April 2020 due to the Covid-19 pandemic but has been resumed. Approved governmental subsidies amount to SEK 1.5 to 2.0 million.

Financial summary
April-June

  • Net sales, SEK 4.4 million (0.0).
  • Operating result, SEK -34.7 million (-50.5).
  • Result for the period, SEK -35.1 million (-49.3).
  • Earnings per share before and after dilution, SEK -0.49 (-0.69).
  • Cash flow for the period, SEK -33.2 million (-44.9).
  • Cash and cash equivalents, incl. interest-bearing securities, SEK 169.8 million (358.2).

January-June 2020

  • Net sales, SEK 4.4 million (0.1).
  • Operating result, SEK -79.6 million (-96.7).
  • Result for the period, SEK -77.9 million (-93.7).
  • Earnings per share before and after dilution, SEK -1.09 (-1.31).
  • Cash flow for the period, SEK -27.7 million (-79.2). (See p. 17)

Read the complete report in the pdf below.
For further information, please contact:
Per Norlén, CEO, per.norlen@alligatorbioscience.com,+46 46-540 82 00
Andreas Johannesson, Interim CFO, andreas.johannesson@alligatorbioscience.com,+46 46-540 82 00
Cecilia Hofvander, Director IR & Communications, cecilia.hofvander@alligatorbioscience.com,+ 46 46-540 82 06

Alligator Bioscience AB (publ) 556597-8201
Medicon Village, Scheelevägen 2, 223 81 Lund, Sweden.
Phone +46 46 540 82 00.

The information was submitted for publication, through the agency of the contact persons set out above, at 1:00 p.m. CEST on July 13, 2020.

About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immuno-oncology antibody drugs. Alligator's pipeline includes five lead clinical and preclinical drug candidates: Mitazalimab, ATOR-1015, ATOR-1017, ALG.APV-527 (co-developed with Aptevo Therapeutics Inc.) and AC101 (in clinical development by Shanghai Henlius Biotech Inc.). Alligator's shares are listed on Nasdaq Stockholm (ATORX). The Company is headquartered in Lund, Sweden. For more information, please visit www.alligatorbioscience.com.

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