Update: Riding high on immuno-oncology
Medigene shares have doubled in the last two months, a surge we attribute to renewed investor enthusiasm for its emerging cancer immunotherapy franchise. With a recent flurry of licensing deals over CAR-T technology platforms and products, at a time of widespread excitement about the transformational potential of this approach to treating certain cancers, Medigene’s preclinical stage adoptive TCR (T-cell receptor) therapy may be attracting particular interest. We raise our valuation to €175m, or €12.55 per share, on re-evaluation of the cancer immunotherapy franchise.Medigene is a biopharmaceutical company that focuses on the research and development of drugs to treat cancer and autoimmune diseases. Co.'s segments are: marketed products and drug candidates. Co.'s marketed products segment consists of the drug Veregen®, which is an ointment for the treatment of external genital warts. Co.'s drug candidates segment consists of: EndoTAG®-1, which is for the indication pancreatic cancer and triple-negative breast cancer; RhuDex®, which is a modifying agent for the oral treatment of autoimmune diseases; and adeno-associated virus-like particles, which provides potential as prophylactic and therapeutic vaccines, for example, against cancer and infections.
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