Further validation

Momentum building as the foundation is set

Preparations for Phase 2 progressing well

Left-for-dead biotech primed for resurgence

Broad progress, strengthening future options

Preparing the ground

Taking charge

Reset and Rebuild

A clean slate in the making

On standby

Nykode Therapeutics (No_rec, TP: NOK) - A compromise

Today Nykode announced that Michael Engsig (CEO), Agnete Fredriksen (CSO and co-founder), and Harald Gurvin (CFO) have withdrawn their recent resignations and continue with the company. New board members have been proposed and key shareholders on the board have communicated they will propose a NOK1.00 DPS. We see the whole as a compromise.

Nykode Therapeutics (No_rec, TP: NOK) - Recommendation and target pric...

Nykode announced the resignation of the board chair, board members and the senior management. As we have limited insight into the board’s plans, we have withdrawn our NOK4 target price and BUY recommendation.

Folding or All-in?

Looking for a new marriage

Nykode Therapeutics (Buy, TP: NOK4.00) - Transition on track

While the Q4 report contained no big surprises, Nykode Therapeutics said its transition into a “leaner, research- and technology-driven organisation” is on track. CFO Harald Gurvin said he believes it could reach the targeted cost base of cUSD20m per annum as soon as 2026. Following the strategic pivot, the company is focusing on: 1) asset generation; and 2) value creation through seeking early-stage partnerships. We reiterate our BUY and NOK4 target price.

Q4 report roughly as expected

Nykode Therapeutics - Repositioned to streamline clinical progress

Nykode Therapeutics is a clinical-stage biopharmaceutical company with a focus on novel immunotherapies. As part of its Q324 results, it announced a strategic repositioning as a leaner organisation, aiming to streamline its clinical development efforts. With US$124.6m in cash and a runway guided into 2030, Nykode is seeking partnerships for cancer vaccine candidates VB10.16 and VB10.NEO. Both are backed by encouraging early clinical data and have potentially large commercial opportunities, but t...

Nykode Therapeutics (Buy, TP: NOK4.00) - Q3 report; major cost cuts un...

As we expected, Nykode Therapeutics today announced large cost cuts as well as other cost-containment initiatives to further extend its financial runway following the termination of the collaboration with Genentech. It also announced initiation of the C-05 trial and part two of the C-03 trial will be contingent on securing a partnership.

Comforting slim down

Nykode Therapeutics (Buy, TP: NOK4.00) - Set for Q3e after major setba...

We believe the company will implement larger cuts in the organisation as well as other cost-preservation initiatives to further extend the financial runway following the termination of the collaboration with Genentech. Despite the extra uncertainty around the technology’s clinical potential following the termination (causing us to completely remove the NEO programme from our model until we see the clinical effect data from the N-02 trial), we believe the current valuation (well below Q2 cash) is...