Arctic Bioscience (Hold, TP: NOK15.00) - HeROPA-trial results
Arctic Bioscience announced results for the HeROPA trial (mild-to moderate psoriasis). While the results did not include detailed data, it was clear that the trial did not meet the primary endpoint (The proportion of patients with ≥50% reduction in Psoriasis Area and Severity Index (PASI50) from baseline to week 26). The failure to meet the primary endpoint was partly explained by an unexpectedly high effect rate in the placebo group (comparisons between HRO350 2,100 mg and placebo, and HRO350 1,050 mg and placebo were conducted). This is a dramatic setback for the company, in our view, since it significantly questions the technology’s benefit within the pharmaceutical business in general and in the psoriasis disease area specifically.
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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