Edison Investment Research - CERENO SCIENTIFIC AB (CRNO/B) Cereno Scientific - Differentiated approach in CVD with potential

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Edison Investment Research

Sean Conroy

Cereno Scientific - Differentiated approach in CVD with potential

Cereno Scientific is a clinical-stage biotech, developing treatments for cardiovascular diseases (CVDs) using novel approaches. Its focus on disease-modifying therapies and a collaboration with Abbott set it apart from peers. Lead asset CS1, a delayed immediate release formulation of VPA, is an HDAC inhibitor, aiming to deliver disease-modifying results in pulmonary arterial hypertension (PAH). Preclinical candidates include CS014, for thrombosis prevention without increased risk of bleeding (seen with current antithrombotics), and CS585 for CVD (specific indication not yet determined). 2024 will be a period of inflection, with top-line readouts from the Phase II CS1 study and expected clinical entry of CS014. We initiate coverage with a valuation of SEK2.32bn (SEK9.9/share).

22/02/2024 1 EN

Underlying

CERENO SCIENTIFIC AB

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SE0008241558 Sweden

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Cereno Scientific - Differentiated approach in CVD with potential

Cereno Scientific - A productive period with plenty more to come

Cereno Scientific - CMD highlights a ‘rare’ portfolio refocus

Cereno Scientific - CS1 shines in Phase IIa PAH trial

Foxtons Group - Deals' benefits matched by tax rise

Partners Group Private Equity - Seeing good demand for several of its assets

Cereno Scientific - A productive period with plenty more to come

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