Report

Immunicum - Catalysts approaching for DCP-001

Immunicum specialises in the research and development of novel immunotherapies that target hard-to-treat tumours and tumour recurrence. In its pipeline and strategic outlook presented in Q122, management highlighted its focus on developing DCP-001, a novel cancer relapse vaccine. The ongoing Phase II ADVANCE II trial (investigating DCP-001 as a monotherapy in acute myeloid leukaemia, or AML) will release multiple updates in 2022, providing potential catalysts for the shares. Importantly, complete minimal residual disease (MRD) data are expected to be announced in Q222, followed by survival data at the year end. Additionally, DCP-001 is in ongoing Phase I trials for treating ovarian cancer. At end-March 2022, the company had cash of SEK123m, which we expect to provide a runway to H123. In light of the refocused strategy, our estimates are under review.
Underlying
Immunicum AB

Immunicum AB is a Sweden-based company principally engaged in the biopharmaceutical sector. The Company develops immunotherapy for therapeutic treatment of cancer and infectious diseases. The Company uses therapeutic vaccines to treat an already existing disease and is thus given to the already sick patients; therapeutic cancer vaccines administered to patients in order to delay or stop tumor cell growth, shrink tumors, prevent relapse, or to kill cancer cells that could not be eliminated with other treatments. The Company has several technology platforms, such as The Combig, Intuvax@, Subcuvax@ and The CD70, among others. The Company has several projects which are related to kidney cancer and liver cancer, among others.

Provider
Edison Investment Research
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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