Nordic Nanovector (Buy, TP: NOK31.00) - Continued PARADIGME focus
The company reported a Q3 operating loss in line with our estimate. Focus remains on recruitment to the PARADIGME trial, and we believe it is still reasonable to expect top-line data from the trial by end-Q2 2022. It has also started preparing for an accelerated-approval filing and initiation of a confirmatory trial. More data on the potential design of the trial as well as pipeline developments should be given in connection with the R&D day set for 30 November. We reiterate our BUY and NOK31 target price.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.
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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