Alligator Bioscience (Buy, TP: SEK40.00) - More below the surface
The company held its first ever capital markets day (CMD) on 29 May. Overall, it was a very informative session where the whole management team presented various aspects of the organisation, but with a clear focus on the portfolio. Most importantly, the company outlined its future plans including a lot of attention directed towards ATOR-1015, the company’s most advanced asset after ADC-1013. ATOR-1015 is due to enter clinical trials in H2 2018 and ATOR-1017 in 2019. We keep our BUY recommendation, but have adjusted our target price to SEK40 (SEK35).Alligator Bioscience AB is a Sweden-based company that is engaged in development of immunotherapies for the treatment of cancer. The Company specializes in the development of tumor-directed immunotherapies, in particular agonistic mono- and bispecific antibodies. In the discovery of those drugs, the Company uses its technology platforms ALLIGATOR-GOLD and FIND. ALLIGATOR-GOLD is a library containing human antibodies. FIND (which stands for Fragment Induced Diversity) is an antibody optimization technology. In its pipeline, the Company has thee projects: ADC-1013 (antibody), ATOR-1015 (bispecific immune activating antibody) and ATOR-1016 (bispecific agonistic antibody), which are in research/preclinical stage.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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