Vicore Pharma (Buy, TP: SEK41.00) - Waiting for trials to start
Vicore Pharma reported a Q2 operating loss of cSEK25m; as expected, the report was a non-event. More interesting is the upcoming data from the extended dose-finding Phase I trial that should be available during the autumn. We also expect the company to initiate phase II trials in IPF and dcSSc in the next six months, while the VP02 programme should be ready for clinical trials in about a year. We reiterate our BUY recommendation and SEK41 target price.PT Victoria Investama Tbk is an Indonesia-based investment holding company primarily engaged in financial services industry through its subsidiaries. It is engaged in securities brokerage and underwriting, general insurance and investment management through PT Victoria Securities Indonesia, PT Victoria Insurance and PT Victoria Manajemen Investasi, respectively. It also owns shares in PT Bank Victoria International Tbk, an affiliate company which is engaged in banking sector. The Company itself provides financial advisory services, structured finance and other supporting services to its subsidiaries.
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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