Nordic Nanovector (No_rec, TP: NOK) - Weaker than expected data
Today the company announced that the independent expert panel had reported that efficacy from the PARADIGME trial was less promising than what had been seen before in the phase IIa trial LYMRIT 37-01. It is delaying the data read-out and the Q2 report, and is seeking regulatory feedback on how to progress. This is significantly negative news for the shares, and we have placed our recommendation (previously BUY) and target price (previously NOK21) under review.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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