NeuroVive Pharmaceutical - Several R&D events within cash reach
The combined net proceeds of SEK108m from a rights issue and direct placement completed in Q119 ensure NeuroVive Pharmaceutical’s operations will be funded well into 2020. Potential near-term share price catalysts include initial results from the KL1333 Phase Ia/b, a non-dilutive financing solution to enable the start of the NeuroSTAT Phase II clinical trial, the publication of in vivo data for NV354 and the an out-licensing of NV556. Our updated valuation is slightly higher at SEK1.55bn or SEK8.3/share.NeuroVive Pharmaceutical is engaged in the conducting research and development into pharmaceuticals that protect the mitochondria and pharmaceuticals to promote more effective mitochondrial function. The drug development technology platform is cyclosporine A, versions of cyclosporine, and molecules with a similar structure, which together, constitute a new class of pharmaceutical called cyclophilin inhibitors. The project portfolio also includes drug candidates for cellular energy regulation.
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