Alligator Bioscience

Alligator Bioscience’s board has halted further independent development of the CD40 antibody Mitazalimab due to the rapidly changing treatment landscape in pancreatic cancer and intends to out-license or sell the drug. Resources will be redirected to HLX22 (anti-HER2), which is being developed externally by Shanghai Henlius Biotech; Alligator will receive revenue participation for this without development expense. The company also announced a rights issue of around SEK 125.6 million and a bridge financing; cash of SEK 33 million will only last until mid-Q3 2026. The combination of the project halt, a heavily dilutive capital measure and strained liquidity triggered the sharp share price decline. » More on de.investing.com

Alligator Bioscience reports significant cost reductions in Q1 2026 (annualized operating costs cut from 300 to 100 million SEK; Q1 costs 17 million SEK) and reports cash of 33 million SEK. Lead candidate mitazalimab showed a 30‑month survival rate of 20% in Phase II, and the company is preparing to start a Phase‑III trial in Q4 2026; a regulatory submission is expected in Q2 2026. Because cash is only expected to last until mid‑Q3 2026, Alligator is actively exploring financing options. The stock rose 4.69% following the results. » More on de.investing.com