Report
Jacob Mekhael

Sequana Medical FIRST LOOK: DSMB nod to continue phase 1/2 of DSR 2.0 in heart failure

Sequana announced that an independent DSMB approved the start of the randomised cohort in the phase 1/2a (MOJAVE) study of DSR 2.0 (direct sodium removal, drug only approach) in the US for treatment of fluid overload in patients with diuretic-resistant heart failure. The first patient is expected in 1Q24, and data from the trial is guided for 2H24, which could trigger partnering discussions - though we note the company's cash runway is into 1Q24 and Sequana is actively working to secure additional funds in order to reach its upcoming milestones. We reiterate our BUY rating and € 7 TP.
Underlying
Sequana Medical

Sequana Medical NV. Sequana Medical NV is a Belgium-based company, which manufactures medical devices. The Company focuses mainly on the development of treatment solutions for the management of liver disease, heart failure, malignant ascites and other fluid imbalance disorders. Sequana Medical NV provides alfapump, which is an implantable, programmable, wireless-charged and battery-powered system that is CE-marking for the management of refractory ascites due to liver cirrhosis and malignant ascites. Over 650 alfapump systems have been implanted. Apart from the Alfapump, the Company also aims to develop a direct sodium removal (DSR) therapy, which is a propriety approach to the treatment of volume overload in heart failure.

Provider
KBC Securities
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Analysts
Jacob Mekhael

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