Oncopeptides (Buy, TP: SEK335.00) - PDUFA date nearing
Apart from higher spending on sales and marketing than we expected, the Q4 report was a non-event given the most important event in Oncopeptides’ history is fast approaching. The PDUFA date for melflufen in the US is 28 February – we believe the product will be approved and launched in the US in mid-March. We reiterate our BUY and SEK335 target price.Oncopeptides AB is a Sweden-based clinical development pharmaceutical company, which is primarily engaged in the healthcare industry. The Company focuses on research and development of cancer treatment solutions. The Company's product Ygalo is a peptidase potentiated alkylator, a type of cytotoxic drug that is targeted for use in the treatment of multiple myeloma. Ygalo is an alkylating agent that leverages the overrepresentation of peptidase enzymes in cancer cells to rise the concentration of active cancer fighting molecules in myeloma cells. Ygalo is intended for the treatment of patients with late-stage relapsed and refractory multiple myeloma. Ygalo is administered intravenously and is transported into cells where it is cleaved by peptidase enzymes, which impair transport of its active cancer-fighting agents out of the cell at the same time as driving more Ygalo into the cell.
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