BioArctic (Buy, TP: SEK206.00) - Development on track
Several important events occurred in Q3, as well as after the reporting period. Given the positive data from the phase IIb study with BAN2401 on 6 July and Eisai’s subgroup analysis from the phase IIb study at CTAD after Q3, we remain confident that BAN2401 is still the most promising drug candidate in development for Alzheimer’s disease. Another important catalyst after Q3 was the announcement that AbbVie opted-in to license BioArctic’s antibody portfolio in Parkinson’s disease. We reiterate our BUY recommendation 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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