Oncology Venture recently hired new upper management to streamline and focus its operations. This involves a prioritisation of its programmes towards its most attractive assets, which were determined to be the PARP 2X-121, the TKI dovitinib, and the microtubule disruptor Ixempra (ixabepilone). The company has provided updated timelines for its assets, all of which have major upcoming catalysts. We view this shift in focus as highly strategic and are encouraged by the company’s new direction.

After the strategy change, we arrive at a new valuation of Oncology Venture of SEK893m or SEK6.83 per basic share. The company in Q419 completed a SEK100.6m rights offering and has entered into a separate SEK100m convertible loan facility. We expect current clinical programmes to require DKK1.1bn in additional financing, although we expect significant partnering efforts to offset this.

Research feed