In This Article:
Release Date: May 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Oncopeptides AB (FRA:OND) reported a significant increase in net sales, almost tripling compared to Q1 last year and showing a 34% increase from Q4 2024.
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The company achieved a positive reimbursement decision for PPEsti in Italy, marking a significant commercial milestone.
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The FDA lifted the clinical hold on 035, advancing Oncopeptides AB (FRA:OND)'s future US ambitions.
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Oncopeptides AB (FRA:OND) has made substantial progress in key European markets, with strong sales growth in Germany, Spain, and a promising start in Italy.
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The company's cash position is strong at 107 million SEK, with a plan to reach cash flow positivity by the end of 2026.
Negative Points
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Oncopeptides AB (FRA:OND) faces currency headwinds due to the weaker EUR compared to the SEK, impacting financial results.
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Challenges in market access processes and lengthy negotiations are present in France, Norway, and Ireland, affecting profitability plans.
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The company needs to secure additional funding to bridge cash requirements until profitability is achieved.
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There is uncertainty regarding the currency impact for the rest of the year, which could affect sales figures.
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The fragmented market in Germany presents challenges in capturing the full potential due to its scattered prescriber base.
Q & A Highlights
Q: Could you discuss the growth trajectory of the different markets and if there is any potential for growth acceleration? A: Sophia Reiss, CEO: Germany is the major contributor to growth with a 40% increase. Spain is expanding its footprint with 95% regional access, which will accelerate growth. Italy is in the access process with 70% hospital-level access, setting the foundation for future acceleration. The growth dynamics differ by market due to healthcare system structures, but positive clinical experiences shared among physicians are a common growth driver.
Q: What do you expect the currency impact to be for the rest of the quarters, given the strengthening of the Swedish crown? A: Hendrik Bentoft, CFO: The impact depends on the Euro to SEK exchange rate, as our sales are in euros. Any changes in this currency relationship will affect our sales, but the exact impact is uncertain.
Q: Do you expect costs to be relatively stable for the rest of the year, and could you talk about the funding options since additional cash is needed to bridge to profitability? A: Hendrik Bentoft, CFO: Costs will vary slightly between quarters but Q1's cost base is representative for the year. We have a cash position to sustain operations until cash flow positive by end of 2026, contingent on cash position, cost base, and revenue stream. A license deal in Japan and sales growth are expected to achieve this, with other options available if needed.