Vicore Pharma (Buy, TP: SEK41.00) - Eventful start to 2020
Vicore Pharma reported a Q1 operating loss of cSEK28m, smaller than we expected. The company has had an eventful start to 2020, with several development milestones. The study in its main indication, IPF, is set to start in Q3 2020 with results possibly in Q2 2022. The trial in patients with Covid-19 offers a nearer-term trigger, with a possible readout in Q3 2020. We reiterate our BUY and SEK41 target price.Vicore Pharma Holding AB is a Sweden-based drug-development company. The Company's portfolio contains small molecules with potential indications, including anti-inflammation, nerve generation and cardiovascular disease. The Company is a wholly owned subsidiary of Mintage Scientific AB.
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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