From the other side of the mirror… - HOLD - TP 18€
We initiate NOXXON with a HOLD recommendation and a TP of 18€. The company has developed a platform that generates compounds called “Spiegelmers†that are able to bind to specific molecules in order to disrupt their activity in the tumor micro-environment and cause cancer cell destruction. The most advanced compound, NOX-A12, is developed in phase II in solid cancer (pancreatic and CRC cancer metastatic) and a collaboration with Merck & Co has been signed last December. However we consider that a pressure should be observed on the shareprice in short term due to the issue of ODIRNANE bonds even though it should enable to consolidate the treasury of the Group.NOXXON Pharma NV is a biotechnology company based in the Netherlands that focuses on cancer treatments. The Company's main product is the Spiegelmer platform. Spiegelmers are a variant of a drug class called aptamers, which are based on deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) and are built on a backbone of mirror-image RNA or DNA - L-stereoisomers. The Company's lead candidate, NOX-A12, is under development as a combination therapy for a number of cancer indications using immuno-oncology approaches, such as immune checkpoint inhibition and current standards of care, such as chemotherapy and radiotherapy. The Company also develops NOX-E36, which is aimed at the treatment of complications arising from diabetic nephropathy.
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