Vicore Pharma (Buy, TP: SEK90.00) - R&D day highlights
The company hosted an R&D day on 10 March to highlight developments in its pipeline, where the most significant is the recent interim results from the AIR trial in IPF. Here, VP01 showed an increase in lung function (or at least a stabilisation) after 24 weeks’ treatment in naïve IPF patients. We believe the most important next step will be discussions with the FDA regarding the design of a pivotal phase III trial in the IPF indication. We reiterate our BUY and SEK90 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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