Oncoinvent (ONCIN) Q3 2025 earnings summary

Executive summary

• Completed phase I trials in ovarian and colorectal cancer, with Radspherin showing strong safety and efficacy signals, including a 10% peritoneal recurrence rate at 24 months for ovarian cancer at 7 MBq dose compared to 55-60% in historical controls, and a 28% recurrence rate in colorectal cancer versus 50% in historical controls.

• Completed a merger with BerGenBio, resulting in an uplisting to the Oslo Stock Exchange under ticker ONCIN as of 30 October 2025 and a strengthened cash position.

• Announced a fully underwritten rights issue of NOK 130 million to support future operations and clinical development.

• Presented clinical data at the 15th PSOGI International Congress, confirming the need for novel treatments post-surgery and highlighting engagement with the oncology research community.

Significant events and developments

• Finalized merger with BerGenBio, now trading as Oncoinvent ASA on the Oslo main board under ticker ONCIN.

• Announced a fully underwritten rights issue of NOK 130 million, with tradable subscription rights and share allocation scheduled through November and December 2025.

• Cash runway extended into 2027, combining NOK 45 million existing cash, NOK 45 million from BerGenBio, and NOK 130 million from the rights issue.

Outlook and guidance

• First interim data from the phase II ovarian cancer trial expected in the second half of 2026, with full interim results towards the end of 2027 or 2028.

• Recruitment for the phase II ovarian cancer study is on track, with 22 of 108 patients recruited by end of September 2025 and additional hospitals joining to accelerate enrollment.

• Colorectal cancer program will require external partnership to advance further.