BerGenBio ASA

Oncoinvent did not report revenue or EPS on this call. As of June 30, cash and equivalents were NOK 109 million, plus NOK 2 million in restricted cash. Operating cash burn in the first half was NOK 69 million, which management said was in line with budget and slightly below it. The company said this should fund operations into 2027 beyond the interim. Operationally, 55 patients had been recruited into the Phase II ovarian cancer trial, with 10 active sites after adding 4 sites in the first half. Management said the trial is on track, with interim results expected later this year and next year, and the main 9-month interim readout guided for late in the second half of 2027 if recruitment continues at the current pace.

CEO Oystein Soug emphasized execution against the company’s 2026 priorities: speeding up recruitment, adding sites, making small protocol amendments, and conserving cash. He said all of those boxes had been checked so far, and framed the Phase II ovarian cancer study as the key near-term value driver. His tone was confident but measured, with repeated emphasis that the trial is on track and that the company is preparing for Phase III readiness.

CFO Ramzi Amri said cash and equivalents were NOK 109 million plus NOK 2 million in restricted cash as of June 30, and that current resources should fund operations into 2027 beyond the interim. He said first-half operating cash burn was NOK 69 million, slightly below budget, and that expenses are scaling with recruitment but remain tightly controlled. He also highlighted that operating expenses are broadly in the same ballpark as the first half of 2025 despite higher patient activity, and said the company is preparing manufacturing redundancy, tech transfer, and external partnerships ahead of Phase III.

Management said the protocol amendments were limited and did not materially change the patient population; examples included flexibility on HRD testing and allowing more chemotherapy cycles before surgery. On timing, they said the first interim analysis is date-based, while the main 9-month interim depends on recruitment and would require the last patient to be enrolled in the first half of 2027. They also said Phase III would likely involve multiple hundreds of patients, and that Europe could potentially roll Phase II sites into Phase III to speed startup. On partnering and approval, they said they would discuss accelerated or conditional approval with regulators if data are strong, but still expect another study/Phase III and adequate safety data to be needed.