Report

Ultimovacs - TENDU results support TET platform expansion

Ultimovacs has announced that its exploratory Phase I TENDU study, built on the company’s vaccine technology platform, Tetanus-Epitope Targeting (TET), has met both its primary and secondary endpoints. The study, which evaluated 12 patients with relapsed prostate cancer across three dose levels, showed a good safety profile across all dose cohorts, with no dose-limiting toxicities observed. The study also met its secondary endpoint of activating an immune response against prostate specific peptides. We see this as an encouraging development, providing early validation of the company’s TET platform, which combines antigens and the vaccine adjuvant into the same molecule with the aim of enhancing T cell response against cancer-specific peptides. We remind readers that the company’s primary asset is its universal cancer vaccine UV1, currently being assessed in five Phase II and two Phase I studies. Topline data from the Phase II INITIUM study (investigating UV1 in combination with ipilimumab and nivolumab in malignant melanoma) are expected in March/April 2024 and represent a key near-term catalyst, in our opinion.
Underlying
Ultimovacs

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.

Provider
Edison Investment Research
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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