Ultimovacs - Gearing up for UV1 Phase II trial readouts
As part of Ultimovacs’ Q223 results, management recapped recent clinical activities. This included the topline readout for NIPU (metastatic pleural mesothelioma), completion of patient enrolment for FOCUS (head and neck cancer) and updated positive data from the UV1-103 Phase I trial (malignant melanoma). We believe the upcoming readouts from the Phase II trials represent major catalysts for the company, and the immunotherapy field in general. Particular focus should be paid to the full NIPU data set (especially OS data) expected in Q423. Additionally, INITIUM (malignant melanoma) topline results are now expected in H124. Net cash as of Q2 of NOK344.1m is anticipated to fund operations into H224 and through key readouts for three (of the five ongoing clinical trials) UV1 Phase II trials. We value Ultimovacs at NOK7.5bn or NOK219 per 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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