SynAct Pharma (No_rec, TP: SEK) - Irregularities in the RESOLVE trial
SynAct Pharma was expected to release data from the 4-week RESOLVE trial in early November. Instead, the company announced it has found multiple irregularities in the data and has therefore initiated a third-party audit of both the RESOLVE and EXPAND trials (as several sites are the same and the same CRO has run the trials). Data should now be released in early 2024 instead. This news has further increased the risk and introduced more uncertainty about the result of the post-hoc analysis from the EXPAND trial (which showed efficacy on ACR20 in patients with CRP >3mg/L). We have withdrawn our recommendation and target price.
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