Oncopeptides AB (publ)

Welcome to Oncopeptide's third quarter earnings call for 2026. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to CEO Sofia Heigis and CFO Henrik Bergentoft. Please go ahead.

Hello everyone and welcome to the presentation of Oncopeptides report for the third quarter of 2026. My name is Sofia Heigis and I am the CEO of Oncopeptides. Before we begin, please note our standard disclaimer regarding forward-looking statements. Today's presentation is led by me and our CFO Henrik Bergentoft. Together we will walk you through our third quarter commercial performance and the major clinical and regulatory milestones we have achieved over the past few weeks. Let's look at where we stand right now. During the third quarter we delivered net sales of 28.5 million SEK representing a 41% increase compared to the third quarter of 2025 when we delivered 20.2 million SEK. For the first nine months of the year, net sales reached just under 85 million SEK, up 62% compared to the 52.6 million SEK reported for the same period last year. Also, for the first time in Oncopeptide's history, sales for the 12 last months exceeded 100 million SEK, reaching 103.5 million SEK. Our cash position at the end of the third quarter stood at 116.8 million SEK, which was further strengthened after the period by approximately 100 million SEK in gross proceeds from the directed share issue completed in October. The positive CHMP opinion to expand Pepaxity into third-line treatment and the potential approval by the European Commission expected to follow in Q4 could unlock significant new sales potential. We remain on track to achieve positive cash flow during 2027. Importantly, our cash flow guidance is based on our commercial operations for Pepaxity in Europe to become self-sustaining. Our clinical program in glioblastoma is ring-fenced as a separate value-creating venture with its upcoming CMC and clinical activities funded by the 100 million SEK raised in October. Looking at some of the significant events from July to September. In September, CHMP, the European Medicines Agency Committee for Medicinal Products for Human Use issued a positive opinion of label expansion of PEPAXTI into third-line treatment. We achieved our first expansion milestone in Central and Eastern Europe by receiving an official list prize for PEPAXTI in Slovenia. On the scientific front, we highlighted our clinical progress and presented new multiple myeloma data at the IMS annual meeting in Glasgow. And in neuro-oncology, We presented preclinical and translational glioblastoma data at the IANO Congress in Rome, where we were also nominated for the prestigious IANO Poster Award for demonstrating encouraging data of overcoming resistance in preclinical models. It has also been an eventful period after the close of the quarter. First, we confirmed blood-brain barrier penetration in humans based on initial data from the first three patients in our glioblastoma window of opportunity study. To move on with clinical development of glioblastoma, we completed a directed share issue of approximately 100 million SEK. I want to thank both our new investors and our largest shareholder Healthcap for their continued support and trust in Oncopeptides. Finally, just yesterday, we announced that two new independent real-world studies from Spain and Italy have been accepted for presentation at the upcoming American Society of Hematology annual meeting in December. Acceptance of RVD data to be presented at ASH is demonstrating how important it is to understand how the real patients are doing on different drugs in a rapidly evolving treatment landscape. To remember is that these patients are commonly older, have more comorbidities and are more frail than in the clinical studies. With that introduction, I will now hand over to Henrik for a walkthrough of the third quarter financials.

Thank you, Sofia. So Q3 provides further evidence of the positive commercial trajectory we are building. Net sales reached 28.5 million, an increase of 41% year on year, and sales for the first nine months grew 61% to 84.9 million. Importantly, this growth continues to translate into attractive economics, with a gross margin of approximately 98% for the nine month period. At the same time, we maintain tight cost control, which contributed to a material improvement in EBIT and net result compared with last year. Taken together, the quarter shows stronger sales, continued high gross margins and improving operating leverage. We continue to allocate capital with a clear focus on growth and value creation. Operating expenses were 66.1 million in the quarter, approximately 3% lower year on year. Sales and marketing investment of 36.5 million supports our commercial activities in Germany, Spain and Italy, where we remain focused on expanding the reach of Papaxity. At the same time, G&A cost decreased materially to 11.7 million, reflecting disciplined overhead management and focused activities. R&D spending of 17.9 million remains focused on selected high potential opportunities, including the ongoing Glyoblastoma window of opportunity study, where we have published promising results already. Overall, we are combining continued commercial investment with lower overhead and Focused Pipeline Execution, creating a stronger foundation for sustainable growth. We ended the quarter with 117 million in cash. Following the quarter, we further strengthened our financial position through a directed share issue of 100 million before transaction cost. The financing provides dedicated capital to advance CMC activities, complete study preparations and fund the next clinical phase in glioblastoma. Meanwhile, allowing us to maintain disciplined commercial execution, moving the commercial part of oncopeptides towards positive cash flow during 2027. The clear message is that oncopeptides is entering its next phase with growing papaxi sales, attracted gross margins, a more efficient cost base and the financial capacity to advance an additional potential value driver in glioblastoma. We believe the combination of commercial momentum, improving operating leverage and upcoming clinical execution creates an increasingly compelling opportunity for oncopeptides. And with that, I hand back over to you, Sofia.