Ultimovacs (Buy, TP: NOK200.00) - Topline results for NIPU trial
Ultimovacs has announced the topline results for the NIPU trial. While the update did not include any data, it was clear the trial did not meet the primary endpoint based on a blinded independent central review. However, based on investigator assessment, the study showed a statistically significant improvement in PFS for patients receiving UV1, in addition to a positive trend towards improvement in overall survival in the UV1 arm over the control arm. While we believe the shares will take a hit today, our investment case overall is largely intact, as we had very modest expectations for the results in this extremely challenging patient groupUltimovacs ASA Formerly known as Ultimovacs AS. Ultimovacs ASA, formerly Ultimovacs AS, is a Norway-based pharmaceutical company developing immunotherapies against cancer. The Company's lead product candidate is UV1, a peptide-based vaccine inducing a specific T cell response against the universal cancer antigen telomerase. UV1 is being developed as a therapeutic cancer vaccine which may serve as a platform for use in combination with other immuno-oncology drugs which require an ongoing T cell response for their mode of action. The Company is performing a broad clinical development program with clinical trials in Europe and the USA.
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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