Report
Patrik Ling
EUR 91.47 For Business Accounts Only

Ultimovacs (Buy, TP: NOK66.00) - Set for patient enrolment in Q1

Ultimovacs reported a Q4 operating loss of cNOK28m, marginally higher than our estimated loss of NOK23m. Focus during 2020 will be on the two phase II trials in mesothelioma and melanoma that are set to start recruitment during Q1 2020. Read-out from both trials is expected in mid-2022. Four-year survival data presented at ASCO-SITC on Ultimovacs’ old melanoma trial was encouraging (50% survival). BUY and NOK66 target price reiterated.
Underlying
Ultimovacs

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.

Provider
DnB Markets
DnB Markets

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.

 

Analysts
Patrik Ling

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