Lytix Biopharma ASA · OSL:LYTIX
Lytix Biopharma ASA — Q1 2024 Earnings Presentation
26 slides from Lytix Biopharma ASA's earnings presentation, May 30, 2024
Slide 1: Lytix Biopharma AS First quarter 2024 presentation
Lytix Biopharma AS First quarter 2024 presentation May 30th, 2024 Øystein Rekdal Gjest Breistein CEO, Co-founder CFO
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been prepared by Lytix Biopharma AS ("Company") exclusively for information purposes. The Presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (’relevant persons’). Any person
Slide 3: Lytix is addressing a major challenge in cancer therapy
Lytix is addressing a major challenge in cancer therapy Each tumor has several different unique mutations making it difficult to treat Lytix’s technology overcomes this major challenge by generating broad tumor-specific immune responses in each patient 3
Slide 4: Dedicated to being part of tomorrow's cancer treatment
Dedicated to being part of Øystein Rekdal, PhD Gjest Breistein MEcon Baldur Sveinbjørnsson, Gry Stensrud, PhD Marie Fjëllskog, MD, PhD Stephen Worsley, MBA tomorrow’s cancer treatment PhD CEO CFO CSO CTO CMO Business Advisor Company overview Product candidates and portfolio RESULTS PRODUCT DESCRIPTI
Slide 5: Extensive market potential for Lytix molecules
Extensive market potential for Lytix molecules • The growth in immunotherapy is primarily driven by immune checkpoint inhibitors (ICIs) • Therapies that address the shortcomings of ICIs are highly needed • By addressing the challenge for patients who do not respond to ICIs Lytix molecules represent
Slide 6: Highlights for the first quarter
Highlights for the first quarter - and post-period events Verrica Pharmaceuticals’ Phase II study in basal cell carcinoma – Positive early results ‒ In January 2024, Verrica reported that all patients had been dosed with LTX-315 (VP-315). ‒ Preliminary Phase II Top-Line Data Expected Q2 2024. ATLAS
Slide 7: Highlights for the first quarter
Highlights for the first quarter - and post-period events Financials ‒ During the quarter Lytix generated a revenue of NOK 10.5 million for sale of LTX-315 to Verrica for use in their clinical trial. ‒ In April 2024, Lytix successfully raised NOK 50 million in gross proceeds in a share offering prim
Slide 8: Clinical/Operational update
Clinical/Operational update
Slide 9: Encouraging early results from Phase II study in basal cell carcinoma
Encouraging early results from Phase II study in basal cell carcinoma A two-part phase II study Part 1 ‒ LTX-315 (VP-315) showed a favorable safety and tolerability profile ‒ Patients receiving the higher range of dosing experienced a consistent response of clinical tumor necrosis. Part 2 ‒ Gain inf
Slide 10: LTX-315 represent a non-surgical alternative for BCC patients
LTX-315 represent a non-surgical alternative for BCC patients Alternative to current surgical procedures Local and gentle treatment, adjusted for each patient Avoid scarring and other physical side-effects related to surgical treatments Potential decreased risk of occurrence of new lesions Source: h
Slide 11: Market approval for LTX-315 in BCC market could potentially generate high revenue
Market approval for LTX-315 in BCC market could potentially generate high revenue for Lytix shareholders Verrica has global rights for basal cell carcinoma, squamous cell carcinoma, non- metastatic melanoma and non-metastatic Merkel cell carcinoma (skin cancer) The BCC market size alone is expected
Slide 12: ATLAS-IT-05 (ongoing): Promising effects of LTX-315 in late-stage melanoma
ATLAS-IT-05 (ongoing): Promising effects of LTX-315 in heavily pre-treated patients with late-stage melanoma As a new class of immunotherapeutic drug LTX-315 has to be tested in late-stage patients that have Complete regression in injected tumor lesions failed to respond to standard of care LTX-315
Slide 13: Several patients with prolonged clinically relevant response
Several patients with prolonged clinically relevant response - Some patients still in early stage of the study 250% 004-002 200-013 200% 202-001 200-006 150% 200-014 400-001 PD 002-002 100% 001-006 201-003 301-001 50% 400-003 202-004 SD 0% 301-003 004-003 202-003 -50% 004-001 PR 200-003 001-007 -100
Slide 14: NeoLIPA – Expanding to earlier-stage melanoma patients with a stronger immune system
NeoLIPA – Expanding to earlier-stage melanoma patients with a stronger immune system Encouraging results from late-stage patients opens for study in earlier-stage patients LTX-315 and pembrolizumab will be given prior to surgery – aiming to reduce relapse risk Study will be led by Radiumhospitalet (
Slide 15: LTX-401 – a small oncolytic molecule with a large commercial potential
LTX-401 – a small oncolytic molecule with a large commercial potential in deep seated cancer Small molecule Similar mode-of-action as LTX-315 with superior effects in liver cancer models Small oncolytic molecule in development Significant commercial potential Suited for treatment of various solid tu
Slide 16: Key figures
Key figures
Slide 17: Key figures – profit and loss
Key figures – profit and loss Unaudited Unaudited Amounts in NOK thousands Q1 2024 Q1 2023 FY 2023 Total operating income 10,526 - 3,991 Total operating expenses (29,212) (24,448) (100,776) Loss from operations (18,685) (24,448) (96,785) Loss for the period (18,183) (19,668) (87,897) As the annual r
Slide 18: Maintaining strict cost control while prioritizing clinical activities
Maintaining strict cost control while prioritizing clinical activities 40 000 30 000 Total operating expense Direct R&D expenses 25 000 30 000 20 000 20 000 15 000 10 000 10 000 5 000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2023 2024 2023 Operating expenses on this slide is presented excluding the NOK 9.2
Slide 19: Key figures – balance sheet
Key figures – balance sheet Unaudited Unaudited Amounts in NOK thousands 31.03.2024 31.03.2023 31.12.2023 Assets Property, plant and equipment 93 126 110 Right-of-use assets 213 1,113 438 Trade and other receivables 18,840 7,073 12,777 Short-term financial investments 13,511 51,314 23,183 Cash and c
Slide 20: Outlook
Outlook
Slide 21: Exiting time ahead
Exiting time ahead Product candidate Study/partner Indication Discovery Phase I Phase II Phase III Next milestones Melanoma patients progressed on checkpoint Interim data H2 2024 ATLAS-IT-05 inhibitors Phase II in progress Final data H1 2026 In combination with Keytruda® Verrica LTX-315 Basal cell c
Slide 22: Q&A IR enquiries
Q&A IR enquiries: [email protected]
Slide 23: Interim Financial Statements
Interim Financial Statements
Slide 24: Condensed interim statement of comprehensive income
Condensed interim statement of comprehensive income Unaudited Unaudited Amounts in NOK thousands Q1 2024 Q1 2023 FY 2023 Revenue 10,526 - 3,991 Total operating income 10,526 - 3,991 Payroll and related expenses (5,663) (5,141) (24,344) Depreciation and amortization expenses (242) (239) (962) Direct
Slide 25: Condensed interim statement of financial position
Condensed interim statement of financial position Unaudited Unaudited Amounts in NOK thousands 31.03.2024 31.03.2023 31.12.2023 Assets Non-current assets Property, plant and equipment 93 126 110 Right-of-use assets 213 1,113 438 Total non-current assets 307 1,239 548 Current assets Trade and other r
Slide 26: Condensed Interim statement of cash flows
Condensed Interim statement of cash flows Unaudited Unaudited Amounts in NOK thousands Q1 2024 Q1 2023 FY 2023 Cash flows from operating activities Loss for the period (18,183) (19,668) (87,897) Adjustments for: Depreciation of property, plant and equipment 17 14 62 Depreciation of right-of-use asse