Edison Investment Research - SCANDION ONCOLOGY A/S (SCOL) Scandion Oncology - Proof-of-concept data elusive

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Edison Investment Research

Sean Conroy

Scandion Oncology - Proof-of-concept data elusive

Top-line results from part 2 of the Phase II CORIST trial in metastatic colorectal cancer (mCRC) were disappointing for Scandion, as the SCO-101/FOLFIRI combination failed to reach the 30% tumour reduction threshold. Despite this, SCO-101 did show indications of efficacy and the company intends to begin enrolment for CORIST part 3 in Q322, which will investigate a new dosing regimen in a larger patient population to fully evaluate SCO-101’s utility. We continue to estimate a cash runway for the company into FY24; however, as proof-of-concept data have been elusive so far, we expect the company will need to raise capital by end-2023/early FY24 to continue clinical development. Considering CORIST part 2 results, we have reduced our valuation of Scandion Oncology to SEK279.0m or SEK6.9 per share, from SEK609.5m or SEK15.0 per share previously.

05/10/2022 1 EN

Underlying

SCANDION ONCOLOGY A/S

Scandion Oncology A/S. Scandion Oncology A/S is a manufacturer of biological products. The Company was founded in May 2017 and is located in Copenhagen, Denmark. It focuses on modern onclogy, the treatment of cancers that have developed resistance to chemotherapy.

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DK0061031895 Denmark

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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Scandion Oncology - Proof-of-concept data elusive

Scandion Oncology - An active quarter with AML plans in the mix

Scandion Oncology - PANTAX Phase I trial meets primary endpoint

Scandion Oncology - Expanding SCO-101 into AML

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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