Research update


Pledpharma: Partner process in focus

Since the end of last the year, the work of finding a partner for the main project PledOx intensified. However, there is little insight into the process and this is expected to continue to be the case. We expect it will take six to 12 months until an agreement may be possible at the earliest. Awaiting information on agreements, the news agenda rests mainly on further updates from the conducted PLIANT study and PFS data is expected in the quarter. Based on previously reported tumor response, we do not expect that PFS will show any difference between the active treatment arms and placebo. We are currently making no major changes in our estimates and keeping our fair value estimate unchanged at SEK 65. In our positive scenario (Bull case), we count on an agreement being in place, which provides a fair value estimate of SEK 82. In our negative scenario (Bear case), we count on an agreement being delayed by around two years, resulting in a fair value estimate of SEK 33.

Note: This is a translation of the original report, released 16 of March.

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