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Adam Karlsson ... (+3)
  • Adam Karlsson
  • Gonzalo Artiach
  • Morten Larsen

FluoGuide - Q3 report: advancing at the right pace

No material updates in Q3 report Brain, lung an H&N Ph 2 trials ongoing, readouts in H1’23e Expect a neutral share price reaction

Adam Karlsson ... (+3)
  • Adam Karlsson
  • Gonzalo Artiach
  • Morten Larsen

FluoGuide - Positive interim data in lung cancer trial

FG001 lighted up lung cancer in 5 out of 7 patients Optimal dose and time of administration to be established We expect the share to trade up ~10% today

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Erik Cassel
  • Jakob Lembke
  • Morten Larsen

FluoGuide - Q2’22 report

No material updates in the report Cash and cash equivalents at DKK 39m Multiple readouts expected during 2023

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Erik Cassel
  • Jakob Lembke
  • Morten Larsen

FluoGuide - Q1’22 report

FG001 is progressing according to plan DKK 50m in cash & better cost control Report neutral for share – attractive risk/reward

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Erik Cassel
  • Jakob Lembke
  • Morten Larsen

FluoGuide - New confirmatory data in HGG

Lights up in 11/11 new patients & confirmatory histology Enables it to proceed with phase 2 component… ... enabling potential efficacy readout in Q3’22e

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Erik Cassel
  • Jakob Lembke
  • Morten Larsen

FluoGuide - FY’2021 results

Clinical programs developing according to plan DKK 64m in cash after share issue, 4Q cash runway Neutral share price reaction warranted

Erik Cassel ... (+2)
  • Erik Cassel
  • Jakob Lembke

Sector Fast Comment - A sharp and unnoticed recovery in healthcare

Hospital activity levels are reaching new highs Expectations are generally too low for Q1 and FY’22 Medtech valuations down 33% YTD with better prospects

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Erik Cassel
  • Jakob Lembke
  • Morten Larsen

FluoGuide - Green is the new black

Developer of dyes that improve outcomes in cancer surgery New standard in a >DKK 3bn niche market opportunity Trigger-heavy 2022; BUY, TP of SEK 132, 50% upside

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