“With a focused pipeline and key inflection points within our estimated cash runway, we are advancing our most promising assets with disciplined capital allocation, ensuring that Nykode is well-positioned to deliver meaningful results for patients and attractive returns for shareholders,” says Michael Engsig, Chief Executive Officer, Nykode.

As of June 30, 2025, Nykode had a cash position of USD 70.0 million, excluding a non-current receivable of USD 32.2 million related to the pending tax case.

With this strategy, the company’s current cash runway is expected to extend into 2029. This guidance is predicated on a positive outcome of the pending tax case, while a ruling against Nykode would result in a cash runway extending into 2028, it states. As of June 30, 2025, Nykode had a cash position of USD 70.0 million, excluding a non current receivable of USD 32.2 million related to the pending tax case, it states.

Related article

Nykode’s CEO, CSO and CFO have withdrawn their resignations

Nykode announces that Michael Engsig, CEO, Agnete Fredriksen, CSO & Co-founder, and Harald Gurvin, CFO, have withdrawn their recent resignations and will continue with Nykode.

A new Chair

As previously stated, Nykode plans to further strengthen its governance and expertise in selected strategic areas by expanding the Board with additional members, including a new Chair, to help guide the next phase of the company’s evolution. These new members are expected to be elected at the company’s Annual General Meeting in spring 2026.

abi-suva

As a natural step in the development of VB10.16, the WHO has accepted the International Non-proprietary Name (INN) abipapogene suvaplasmid (abi-suva), states the company. A randomized, open-label, multicenter Phase 2 trial, referred to as Abili-T, will evaluate abi-suva in combination with MSD’s anti-PD-1 therapy, pembrolizumab versus pembrolizumab alone as first-line treatment for human papilloma virus 16-positive, PD-L1-positive recurrent or metastatic head and neck squamous cell carcinoma. The trial will enroll up to 100 patients and interim analyses for efficacy are planned throughout the trial, with the first expected during 2027, describes Nykode.

The trial will enroll up to 100 patients and interim analyses for efficacy are planned throughout the trial, with the first expected during 2027.

“Abi-suva has been tested in three clinical trials, two complete and one ongoing. The trials VB-C-02 and VB-C-01 provided strong and consistent efficacy signals. The preliminary data from the ongoing VB-C-03 trial indicate similar level of added benefit of abi-suva. This reinforces our confidence in abi-suva’s potential to deliver meaningful benefit to patients and provides a strong rationale for advancing abi-suva into a randomized setting,” says Agnete Fredriksen, Co-founder & Chief Scientific Officer, Nykode.

VB10.NEO

VB10.NEO is well-positioned to attract potential partners following key peer data readouts expected within the next 18 months, the company states further. Nykode will make targeted, limited investments to further strengthen VB10.NEO’s standing as the most attractive unencumbered INT asset, it states.

Platform investments and partnering strategy

Nykode will also increase investments to accelerate the development of its antigen-specific immune tolerance (ASIT) platform. The addressable field of ASIT covers a broad range of autoimmune diseases, allergy and organ transplant rejections. Nykode will further substantiate the platform’s potential and explore partnerships to advance development and diversify indications, it states.

Nykode’s updated strategy with focused advancement of the three prioritized programs aligns value generating with optionality to enter strategic partnerships in oncology and autoimmune indications, the company states further.