Edison Investment Research - Immunicum AB (IMMU) Mendus - Gross proceeds of c SEK69m to advance pipeline

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Edison Investment Research

Sean Conroy

Mendus - Gross proceeds of c SEK69m to advance pipeline

Mendus has reported gross proceeds of c SEK69.1m from the exercise of series TO3 warrants that were issued in connection with the July 2023 raise of SEK317m. Management anticipates that these proceeds will extend the cash runway to Q325 and will be applied to progress its clinical pipeline, mainly in preparation for a registrational trial for lead cancer vaccine vididencel, targeting acute myeloid leukaemia (AML) in the maintenance setting. Management expects the registrational study to commence in H225. In light of the challenging macroenvironment, we view this raise as a positive development for Mendus as it should also support operations as the company progresses through the AMLM22-CADENCE trial, which is anticipated to start patient recruitment this month.

04/04/2024 1 EN

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.

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SE0005003654 Nasdaq Nordic Stockholm 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

Other Reports on these Companies

Edison Investment Research

Mendus - Regulatory green light for CADENCE trial

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Mendus - Gross proceeds of c SEK69m to advance pipeline

Mendus - Regulatory green light for CADENCE trial

Mendus to present NK cell program progress at the Innate Killer Summit

Datatec - FY24 underlying EPS more than doubles y-o-y

Pan American Silver - La Arena divestment

SenSen Networks - Time to scale

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