BioArctic (Buy, TP: SEK430.00) - Leqembi fully approved in the US
The FDA announced on 6 July that it had converted the accelerated approval for Leqembi to a full approval. As a result, we expect the CMS to grant the drug full reimbursement under the condition that patients take part in a data registry for the real-world outcomes of treatment with Leqembi. We note that the FDA recommends patients to be typed for ApoE4 status prior to initiation of treatment and that there is a Boxed Warning added to the label. We do not see this as something that should negatively affect prescription of Leqembi.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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