Edison Investment Research - Herantis Pharma Oyj (HRTIS) Herantis Pharma - Progressing towards proof-of-concept data

Report

Edison Investment Research

Susie Jana

Herantis Pharma - Progressing towards proof-of-concept data

Top-line data from Phase I/II asset CDNF in Parkinsonâ€™s disease (PD) is expected in H219; positive efficacy/safety data from this ongoing proof-of-concept clinical trial would serve as validation of the research efforts and additionally could crystallise value through partnering opportunities. Recently reported Phase II data from the MedGenesis-sponsored GDNF PD trial has read-across to Herantisâ€™s CDNF trial. The company is planning a directed share issue to a limited number of investors in addition to Herantisâ€™s directors. It is also preparing for a contemplated secondary listing on First North Stockholm. We value Herantis at â‚¬47.9m (â‚¬9.7/share).

06/03/2019 6 EN

Underlying

Herantis Pharma Oyj

Herantis Pharma Oyj. Herantis Pharma Oyj is a Finland-based pharmaceutical company. It is engaged in the development of treatments for unmet clinical needs, such as dry eye syndrome, Parkinson's disease and secondary lymphedema, among others. The Company's product development portfolio includes: Cis-UCA eye drops for dry eye, CDNF for Parkinson's disease, Lymfaticin aimed at secondary lymphedema, Cis-UCA emulsion cream for atopis dermatitis, and CDNF targeting Amyotrophic Lateral Sclerosis.

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FI4000087861 Nasdaq Nordic Helsinki Finland

Provider

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

Susie Jana

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