BioArctic (Buy, TP: SEK200.00) - Focus on Clarity AD
BioArctic’s Q4 report was in line with our forecast. Most focus going forward will be on the pivotal phase III trial Clarity AD that should be fully recruited in Q1 with data read-out in September 2022. We believe partner AbbVie will initiate its first phase II trial of the anti-PD drug ABBV-0805 in H2 2021. As for BioArctic’s internal projects, the first should move into the clinic in 2022e. We reiterate our BUY and SEK200 price target.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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