Immunovia's Q3 2024: A Pivotal Quarter for Pancreatic Cancer Detection

Immunovia AB, a leading developer of blood-based tests for early pancreatic cancer detection, published its interim report for January-September 2024, highlighting notable advancements in its next-generation test and strategic moves. The report showcases the company's progress in developing a more accurate and reliable test for pancreatic cancer, a disease with a poor prognosis due to late detection.



Immunovia's strategic shift to the ELISA testing platform has accelerated the development and enhanced the performance of its next-generation test. In Q3 2024, the company successfully completed the analytical validation of its test, reinforcing its reliability and robustness. This achievement is a testament to the company's commitment to improving the test's performance and ensuring its clinical relevance.



The company's financial performance in 2024 is significantly influenced by its development and commercialization of the next-generation pancreatic cancer detection test. Immunovia's net sales, consisting of royalties, increased to SEK 235 million in the first nine months of 2024, up from SEK 488 million in the same period last year. This growth can be attributed to the successful launch of the new test and the company's ability to generate revenue from its intellectual property. However, net earnings remained negative, primarily due to the high costs associated with research and development and the rights issue completed in September 2024. Despite the losses, Immunovia's cash flow from operating activities improved, indicating that the company's commercialization efforts are having a positive impact on its financial performance.

Immunovia's ongoing collaboration with Proteomedix, an Onconetix company, has been pivotal in accelerating the test development process. This collaboration has provided Immunovia with expertise and capacity, enabling it to move rapidly through the test development process. The company has successfully completed the largest-ever study to identify pancreatic cancer protein biomarkers, developed assays to accurately measure these protein biomarkers, and conducted the model-development study, all on the promised timing.

In conclusion, Immunovia's Q3 2024 interim report demonstrates the company's progress in developing a more accurate and reliable test for pancreatic cancer. The shift to the ELISA testing platform and the successful collaboration with Proteomedix have accelerated the development process and improved the test's performance. Immunovia's financial performance is influenced by its development and commercialization efforts, with the company's net sales and cash flow from operating activities showing improvements. As Immunovia continues to refine its next-generation test and secure reimbursement, investors can expect the company to play a significant role in the early detection of pancreatic cancer.