BioInvent International AB ( (BOVNF) ) has released its Q3 earnings. Here is a breakdown of the information BioInvent International AB presented to its investors.
BioInvent International AB, a biotechnology company, focuses on the development of novel immuno-modulatory antibodies for cancer therapy. In their Q3 2024 report, BioInvent highlighted significant clinical progress with two of its leading programs, BI-1206 and BI-1808, showcasing promising data in various cancer indications. The financial performance in Q3 showed a decrease in net sales to SEK 12.8 million from SEK 26.8 million in the previous year, while losses after tax widened to SEK 97.2 million compared to SEK 71.1 million, reflecting increased research and development expenses. Strategic developments included the advancement of BI-1206 in non-Hodgkin’s lymphoma and BI-1808 in cutaneous T-cell lymphoma, along with new collaborations for future studies. Looking forward, BioInvent anticipates several major data readouts by the end of 2024 and into 2025, maintaining strong momentum in its clinical pipeline.