Abliva - KL1333 Funded to Interim Readout
The market has provided a fresh vote of confidence in Abliva, with SEK 200m of new funding now secured. This investment extends the runway to mid-2024, paving the way for a pivotal interim readout of their lead asset KL1333 by end-23/early-24. Trial preparations are now underway as the company intends to begin patient recruitment by the end of the year. Despite 59% share dilution, we value the shares at SEK 2.25, even with 20-25% risk adjustments, a WACC of 11% and fully accounting for future R&D cost to bring assets to approval.
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