Oncoinvent advances ovarian cancer program, reports strong H1 2025 financials

Oncoinvent ASA has announced robust progress in the first half of 2025, particularly in its phase 2 ovarian cancer trial, with a focus on maximizing patient recruitment. Key highlights include positive final data from the phase 1/2a colorectal cancer trial and encouraging interim 18-month data from the phase 1 ovarian cancer trial, demonstrating continued promise in preventing disease progression. The safety lead-in cohort for the randomized phase 2 ovarian cancer trial also showed positive results, with new trial sites expected to be onboarded by year-end.

Financially, Oncoinvent strengthened its position by reducing operating expenses by 28% compared to the prior year. The company reported operating revenues of NOK 11.960 million, a significant increase from NOK 0.067 million in H1 2024, driven by a new agreement with Artbio. Cash and cash equivalents stood at NOK 77.413 million by the end of June 2025, up from NOK 35.788 million in H1 2024.

A merger with BerGenBio was announced in June 2025, approved by shareholders in August, creating a stronger financial platform and a clearer path to uplisting on the Oslo Stock Exchange. A fully guaranteed NOK 130m rights issue, expected to close in October, will further extend Oncoinvent's financial runway beyond the anticipated interim readout of its phase 2 ovarian cancer trial in H2 2026.