NeuroVive Pharmaceutical From the lab to the clinic
NeuroVive reported an operating loss of SEKc73m for FY 2018, versus our estimate of SEKc70m. The highlight of Q4, in our view, was that the company got the green light to start its phase Ib trial with KL1333. This project is going to plan and we hope to see the first patient dosed in Q1. Moreover, based on the outcome from preclinical studies with NV354, NeuroVive has decided to move forward with the development of this candidate and aims to start the first clinical study in 2020. In Q4, it was granted funding of SEK5m for NV354 development. We reiterate our fair value range of SEK 1.57–4.49/share.NeuroVive Pharmaceutical is engaged in the conducting research and development into pharmaceuticals that protect the mitochondria and pharmaceuticals to promote more effective mitochondrial function. The drug development technology platform is cyclosporine A, versions of cyclosporine, and molecules with a similar structure, which together, constitute a new class of pharmaceutical called cyclophilin inhibitors. The project portfolio also includes drug candidates for cellular energy regulation.
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