Cereno Scientific (OMX: CRNO-B)

Last close As at 24/04/2024

SEK4.07

−0.06 (−1.45%)

Market capitalisation

SEK1,143m

Based in Sweden, Cereno Scientific is focused on the development of innovative, effective and safe treatments for cardiovascular diseases (CVD) with unmet medical needs. Lead asset CS1, an HDAC inhibitor that acts as an epigenetic modulator, is currently being investigated in a Phase II clinical trial for the treatment of pulmonary arterial hypertension (PAH).

CVD encompasses various conditions implicated in the heart and blood vessels. Despite a growing repertoire of treatments, CVD is the most common cause of death worldwide. While rare, PAH is well-recognised, and disease-modifying therapies remain the holy grail in this indication. In a market dominated by vasodilators mainly offering symptomatic relief, CS1 claims disease-modifying potential underpinned by its epigenetic modulation properties.

Latest Insights

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Cereno Scientific – Executive interview with CSO and CMO

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Cereno Scientific – executive interview

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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Arron Aatkar

Associate analyst

Key Management

  • Eva Jagenheim

    CFO

  • Joakim Söderström

    Chairman

  • Sten Sörensen

    CEO

Balance Sheet

Forecast net cash (SEKm)

10.2

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (7.6) (13.6) 384.1
Relative (6.0) (20.2) 331.0
52 week high/low SEK5.3/SEK0.5

Financials

Cereno Scientific has taken a step closer to advancing its second asset, CS014, a novel HDAC inhibitor with epigenetic effects, to the clinic with the submission of the clinical trial application (CTA) to the European Medicines Agency (EMA). The CTA is for the first-in-human Phase I trial for CS014, which Cereno is developing for thrombosis prevention, without increased risk of bleeding. We believe this has the potential to address the main limitation of current standard-of-care antithrombotic medicines and offers a sizeable opportunity for Cereno (backed by supportive preclinical data). Subject to clearance from the EMA, management plans to commence the Phase I study in Q224, consistent with prior guided timelines. Cereno’s lead asset is CS1, which is in a Phase II trial for pulmonary arterial hypertension (PAH). The results are expected in Q324, potentially representing the company’s next catalyst, in our view.

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2022A 0.0 (27.5) (27.6) (20.11) N/A N/A
2023A 0.0 (44.7) (48.2) (22.98) N/A N/A
2024E 0.0 (42.7) (51.2) (18.99) N/A N/A
2025E 0.0 (44.9) (48.6) (17.25) N/A N/A

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