Vicore Pharma (Buy, TP: SEK38.00) - ASPIRE now recruiting

The Q3 report was a non-event, but most importantly, the company initiated the phase IIb trial ASPIRE in patients with IPF in September. After quarter-end, it executed a capital increase, raising cSEK882m (before costs), which combined with cash at end-Q3 should take it to ASPIRE data read-out. We reiterate our BUY and SEK38 target price.

Looking towards ATRAG development

Q3: Advancing ASPIRE

Cinclus: agreement with the FDA on the iPSP

Similar to the agreement for the PIP concluded with the EU's EMA a couple of weeks ago, Cinclus has reached an agreement with the FDA on the company’s initial Paediatric Study Plan (iPSP) for linaprazan glurate, which is a prerequisite for market approval for adult use in the US. The study plan wil

BICO: divests Nanoscribe for EUR26m in line with BICO 2.0 Strategy

BICO has agreed to sell Nanoscribe to LAB14 GmbH for an equity value of EUR26m (SEK294m), with the transaction set to close in Q4 2024. We are pleased to see the company executing the BICO 2.0 strategy shared during CMD 2024, which designates Nanoscribe as non-core due to its primary focus outside

Exclusive Networks: expanding into the US with Cloudrise acquisition

Yesterday evening, Exclusive Networks announced the acquisition of 100% of Cloudrise, a security services provider headquartered in the USA. This acquisition represents a positive step towards the continued penetration of the highly attractive US cybersecurity market, which the group sees as a key