Report
Patrik Ling
EUR 88.68 For Business Accounts Only

Nordic Nanovector (Buy, TP: NOK30.00) - Waiting for protocol amendments to take effect

Q2 EBIT of NOK-113m was slightly better than our estimate. Patient recruitment for the PARADIGME trial remained fairly slow in Q2 (as of 26 August, 56 patients had been recruited, up from 51 on 26 May); however, the protocol amendments approved in late June have not yet really taken effect yet, which has a bearing here. We reiterate our BUY and NOK30 target price.
Underlying
Nordic Nanovector ASA

Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. Co. is engaged in the development of targeted therapies for haematological cancers. Co.'s clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody Radionuclide Conjugates (ARC) designed to improve upon and complement options for the treatment of non-Hodgkin Lymphoma (NHL). NHL is an indication with substantial unmet medical need and orphan drug opportunities. Co. aims to rapidly develop Betalutin®, alone and in combination with other cancer therapies, for the treatment of major types of NHL.

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Patrik Ling

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