Business & Finance
Nordic Nanovector ASA reports full year results for 2022
28 February 2023 -

Nordic Nanovector ASA (OSE: NANOV) declared its results for the full year 2022 on Tuesday.

The company recorded a comprehensive loss for the full year 2022 of NOK307.1m, compared to NOK441.7m in 2021.

Revenues for the full year 2022 were NOK0.0m, the same as in the year before.

Total operating expenses for the full year 2022 amounted to NOK317.4m, versus NOK442.4 in the previous year.

As of 31 December 2022, the company's cash and cash equivalents amounted to NOK98.7m, in comparison to NOK287.4m on 30 June 2022 and NOK277.7m on 31 December 2021.

Nordic Nanovector added that its former board of directors decided to discontinue the PARADIGME global Phase 2b trial of Betalutin (177Lu lilotomab satetraxetan) in 3rd-line follicular lymphoma (3L R/R FL) patients, refractory to RTX/anti-CD20 based treatments. Betalutin profile did not fully meet objectives set out for the PARADIGME study.

The former board also implemented a restructuring of the company to reduce costs.

Following these decisions made in 2022, Nordic Nanovector stated that it believes that the best interests of shareholders will be served by thoroughly exploring all strategic options that may be available with the help of Carnegie as expert financial advisor.

Nordic Nanovector develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care.