Clinical activities on track

Mendus has reported its Q225 results. During the period, it made continued progress on the lead programme (vididencel in acute myeloid leukaemia, AML), which remains on track to be pivotal-stage ready in H225. Another key highlight was the presentation of encouraging interim data from the ALISON trial, assessing vididencel in ovarian cancer (OC). The Q225 operating loss was SEK24.1m, 36.4% lower y-o-y than Q224 (SEK37.9m), with the decline attributable to lower R&D expenses in the quarter (SEK15.5m vs SEK28.9m in Q224). We believe this difference stems from the fact that there were no technology transfer costs related to the NorthX Biologics alliance recognised in the quarter (vs c SEK13.5m in Q224). We expect this to reverse in H225. On...