LONDON, UK / ACCESSWIRE / June 13, 2019 / Quantum Genomics (Euronext Paris: ALQGC) recently announced that it has enrolled the first patient in the 294-patient Phase IIb QUORUM study of firibastat in heart failure. Separately, following a successful pharmacokinetic study, it has have selected a controlled release version of firibastat that will allow for once-a-day dosing (though the QUORUM study will still use the twice-a-day formulation). Successfully developing a once daily formulation should make the program more attractive to partners. As a reminder, the company is currently in discussions with a number of potential partners for the firibastat programme following the strong NEW-HOPE data.
We have slightly adjusted our valuation of Quantum Genomics. While our total valuation of the company of €860m has not changed, our per-share valuation has declined from €52.43 per share to €51.76 per share, due to an increase in total shares outstanding. Quantum had €14.8m in cash at end 2018 and has utilized an additional €2.6m of its equity line since then (as of the most recent disclosure from 30 April 2019).
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SOURCE: Quantum Genomics
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