Edison Investment Research - Oasmia Pharmaceutical AB (OASM) Vivesto - Turnaround strategy beginning to deliver

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Edison Investment Research

Sean Conroy

Vivesto - Turnaround strategy beginning to deliver

Vivesto capped off its 18-month strategic turnaround with reduced Q1 losses and a stated focus on its ‘string of pearls’ strategy to build its oncology pipeline through in-licensing and M&A. In March, it successfully completed a rights issue, generating net proceeds of SEK134.6m, extending its runway into 2024. This is sufficient to cover a number of clinical and commercial inflection points and execute its strategy. Key upcoming catalysts include the planned 2022 UK and German launches of Apealea with partner Inceptua. We have updated our model for clinical timelines and the Q1 results, which resets our valuation to SEK2.24bn (from SEK2.89bn previously). We note that the company will appoint a new CEO following the departure of current CEO Francois Martelet in July.

27/06/2022 1 EN

Underlying

Oasmia Pharmaceutical AB

Oasmia Pharmaceutical develops, manufactures, markets and sells new generations of drugs in the field of human and veterinary oncology. Co.'s product development aims to create and manufacture novel nanoparticle formulations and drug-delivery systems based on well-established cytostatics which, in comparison with alternatives, show improved properties, reduced side-effects, and expanded applications. Co.'s product development is based on its proprietary in-house research and company patents.

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SE0000722365 Nasdaq Nordic Stockholm Sweden

Provider

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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Vivesto - Turnaround strategy beginning to deliver

Vivesto - Termination of coverage

Oasmia Pharmaceutical - Delivering on promises

Sylvania Platinum - Annual guidance maintained, despite strike

1Spatial - Investing in the transformational SaaS opportunity

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

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