Ultimovacs (Sell, TP: NOK4.00) - Top-line results for FOCUS trial
Ultimovacs announced top-line results for the FOCUS trial (metastatic or recurrent head and neck cancer). While the results did not include detailed data, it was clear that the trial – as we expected – did not meet the primary and secondary endpoints. The failed study is another dramatic setback for the company, in our view, further denting our confidence in a clinical benefit of the UV1 vaccine across cancer indications. We remain concerned about Ultimovacs’ ability to generate investor interest during its financial runway and ahead of the next financing need.Ultimovacs 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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