Nykode Therapeutics ASA (OSE: NYKD) Q1 2025 Earnings Call | 05/28/2025

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Nykode Therapeutics reported Q1 2025 results on May 28, 2025, highlighting a significant narrowing of losses and continued progress in its immunotherapy pipeline despite a sharp drop in revenue. Total revenue and other income for the quarter was $0.1 million, down from $1.0 million in Q1 2024, as the company shifted focus to core R&D and streamlined operations. Operating expenses were reduced by more than 50% year-over-year to $7.7 million, reflecting the full impact of organizational restructuring and cost control initiatives completed in early 2025. Net loss for the quarter narrowed substantially to $1.4 million, from $14.9 million a year ago, as employee benefit expenses were cut by more than half and R&D spending was tightly managed. Nykode ended the quarter with a strong cash position of $106.2 million and an equity ratio of 91%, providing ample runway for ongoing clinical programs and strategic flexibility. Clinically, Nykode published final Phase 2 data from its VB-C-02 trial in the BMJ Journal for ImmunoTherapy of Cancer, confirming durable benefit and a strong vaccination effect for VB10.16 in HPV16-positive cervical cancer. Additional data presented at ASCO 2025 highlighted robust and durable immune responses for both VB10.16 and VB10.NEO in combination with atezolizumab across multiple tumor types, with encouraging safety profiles. The company also reported progress in its autoimmune portfolio, demonstrating its APC-targeted platform’s potential to modulate multiple arms of the immune system. Management finalized the organizational streamlining in Q1 and is preparing a strategic update for Q2 2025, which will include pipeline status, partnering, and cash runway guidance. Outlook: Nykode expects the full impact of cost reductions to be realized by Q3 2025 and will present a comprehensive strategic update with its Q2 results. The company remains focused on advancing its lead immunotherapy candidates in oncology and autoimmune diseases, leveraging its strong cash position and streamlined operations. A cash dividend of NOK 1.00 per share was approved at the May 2025 AGM, reflecting confidence in the company’s financial stability. #NykodeTherapeutics #NYKD #EarningsCall #Q12025 #Immunotherapy #VB1016 #ClinicalTrials #CostControl #Oncology #Autoimmune #Investing #InsideTicker