Edison Investment Research - MENDUS AB (PUBL) (IMMU) Mendus - Gearing up for the pivotal stages of development

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Edison Investment Research

Sean Conroy

Mendus - Gearing up for the pivotal stages of development

Mendus continues to make headway with its lead programme assessing cancer vaccine vididencel as a potential maintenance therapy for acute myeloid leukaemia (AML), with the latest update presented at the 66th annual American Society of Hematology (ASH) meeting in December. Mendus presented encouraging long-term survival data from the ADVANCE II trial investigating vididencel as monotherapy, which we believe bolsters the case for further development as it advances towards pivotal studies. With a net cash position of SEK108.5m at Q324, Mendus is funded through 2025, past key milestones for the AML programme. We value Mendus at SEK40.3/share, versus SEK39.8/share previously.

16/12/2024 1 EN

Underlying

MENDUS AB (PUBL)

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SE0022239950 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

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Mendus - Gearing up for the pivotal stages of development

Mendus - Vididencel shines in ALISON trial (ovarian cancer)

Mendus - Broad progress across the pipeline

Mendus - Vididencel shines in ALISON trial (ovarian cancer)

Deutsche Beteiligungs - Strengthened balance sheet for new opportunities

Pan African Resources - Honing FY25e forecasts

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