Alligator Bioscience (Buy, TP: SEK42.00) - Strong support for targeting CD40
During the quarter, peer Apexigen presented strong clinical data from its study with the anti-CD40 antibody APX005M. This was the first time we have seen compelling efficacy data from an anti-CD40 antibody, and we believe the data provides strong support for targeting CD40 in at least two cancer indications. In June, Janssen will present data from its study with ADC-1013 (which also targets CD40). We reiterate our BUY recommendation and SEK42 target price.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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