BerGenBio (Buy, TP: NOK60.00) - Waiting for Covid-19 data
BerGenBio’s Q4 was fairly in line with our forecasts. The next potential share price catalyst is the release of Covid-19 data (most likely in March). Thus far, two data safety-monitoring reviews have stated the trial should continue. However, although we know bemcentinib is safe, we do not know about its efficacy. Management stated that it is likely to have to carry out another (larger) trial before approval. We reiterate our BUY, but have cut our target price to NOK60 (68) on forecast changes, due to longer times to market than initially expected for bemcentinib for Covid-19, and a later potential out-licensing deal.BerGenBio is a clinical stage biopharmaceutical company focused on developing innovative drugs for aggressive, drug resistant cancers. Co.'s lead product, BGB324, is a selective, potent and orally available small molecule AXL inhibitor. It is in Phase II clinical development, as a single agent and in combination with marketed immuno-oncology drugs, in three cancer indications with potential: Acute myeloid leukaemia; Advanced non-small-cell lung cancer and Triple negative breast cancer. Co. is also developing a diversified pre-clinical pipeline of selective AXL inhibitors, including biologics and small molecules.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.