Asarina Pharma (Buy, TP: SEK44.00) - Progressing according to plan
Clinical development of Sepranolone progressed according to plan with the final patient recruited in PMDD and the first patient recruited in MM. Top-line results are expected in Q2 2020 for PMDD and in late-2020 for MM. Following a capital raise Asarina now has financing to conduct its phase IIa study in Tourette’s syndrome. Asarina’s Q3 operating loss increased QOQ mainly due to higher R&D spending. We reiterate our BUY and SEK44 target price.
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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