Ultimovacs - First patient in Phase II LUNGVAC study
Ultimovacs is forging ahead with its busy clinical pipeline as the first patient is treated in the fifth Phase II study, LUNGVAC. The LUNGVAC trial (NCT05344209) is investigating the company’s lead cancer vaccine candidate, UV1, in combination with immune checkpoint inhibitor (ICI) pembrolizumab (Keytruda) in patients (n=138) with advanced or metastatic non-small cell lung cancer (NSCLC). Top-line results are expected from the study by end CY24. The company had communicated that first patient enrolment was expected in Q322; however, we do not see this slight delay as having a significant impact on the overall trial timelines. NSCLC remains one of the largest solid tumour indications where unmet medical needs still exist, and with pembrolizumab sales estimated to reach c US$5bn by 2028 in this indication (source: EvaluatePharma), we feel Ultimovacs may be able to capture a segment of this sizeable market. We continue to value Ultimovacs at NOK7.2bn or NOK209/share.Ultimovacs ASA Formerly known as Ultimovacs AS. Ultimovacs ASA, formerly Ultimovacs AS, is a Norway-based pharmaceutical company developing immunotherapies against cancer. The Company's lead product candidate is UV1, a peptide-based vaccine inducing a specific T cell response against the universal cancer antigen telomerase. UV1 is being developed as a therapeutic cancer vaccine which may serve as a platform for use in combination with other immuno-oncology drugs which require an ongoing T cell response for their mode of action. The Company is performing a broad clinical development program with clinical trials in Europe and the USA.
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