Scandion Oncology is approaching a major inflection point as results from the Phase II CORIST trial of the company's lead asset, SCO-101, in metastatic colorectal cancer, are expected in Q322. In addition, top-line data from the extended Phase Ib PANTAX study in pancreatic cancer are expected in H123 (previously Q322). In H122, R&D related expenses rose to DKK33.0m, from DKK20.4m in H121, as patient enrolment continued for CORIST and PANTAX. In July 2022, Scandion completed a rights issue, which we estimate will result in a net cash injection of c SEK58m (c DKK41m). At end H122, management reported a cash position of DKK72.7m, however, including net proceeds from the equity raise, we estimate this figure to have risen to c DKK113.7m. At the current burn rate (H122: DKK32.4m), and considering estimated clinical activities, we anticipate the company is funded into FY24, past key readouts in FY22 and FY23. We value Scandion Oncology at SEK609.5m or SEK15.0 per share (previously SEK586.5m or SEK14.4 per share).Den vollständigen Artikel lesen ...
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