BioArctic (Buy, TP: SEK171.00) - Very strong BAN2401 data
On the back of very positive top-line data from the final phase IIb trial, we have raised the likelihood of approval (LOA) for BAN2401 to 45% (10%). This data is the first large trial to show a statistically significant reduction in Alzheimer’s disease (AD) progression after drug treatment, a major step forward for both the company and the healthcare community. We reiterate our BUY recommendation and have raised our target price to SEK171 (SEK36).BioArctic is a research-based biopharma company which is engaged in developing new innovative disease modifying treatments based in antibodies (immunotheraphy) for neurodegenerative disease (i.e. diseases where the nervous system degenerates) such as Alzheimer's disease and Parkinson's disease and a treatment concept for complete spinal cord injuries (i.e. an injury where the spinal cord is completely broken). Co.'s operations are focused on research and development of new drugs for diseases and conditions with great medical need.
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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