BioArctic (Buy, TP: SEK206.00) - ApoE4 imbalance in focus
Presentation of the BAN2401 phase IIb trial data at the AAIC last week sparked concerns in the market about what the imbalance in ApoE4 carriers in the high-dose group actually means for the results. We believe the next event will most likely be presentation of the subgroup analysis at the CTAD meeting in late October – and we do not believe the overall results will differ materially from those given at the AAIC meeting. We reiterate our BUY and SEK206 target price.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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