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Ultimovacs (OSE: ULTI)

Currency in NOK

Last close As at 25/09/2023

NOK79.90

▲ −3.80 (−4.54%)

Market capitalisation

NOK2,748m

Ultimovacs is developing novel immunotherapies against cancer. Its lead product candidate, UV1, is a peptide-based vaccine against the universal cancer antigen telomerase (hTERT), which is expressed in c 85% of all cancer types. UV1 therefore has a broad potential in a variety of different settings and combinations.

Novel drug projects in oncology comprise the lion’s share of total R&D investments in the industry. Around 85% of all cancer types express high levels of hTERT, which means that UV1 has a broad potential in a variety of different settings, including combinations with other cancer treatments.

Latest Insights

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Healthcare | Update

Ultimovacs — Gearing up for UV1 Phase II trial readouts

Healthcare | Flash note

Ultimovacs — FOCUS – first in series of upcoming catalysts

Healthcare | Flash note

Ultimovacs — Positive Phase I update in malignant melanoma

Healthcare | Update

Ultimovacs — UV1 by no means out after NIPU readout
Ultimovacs_resized
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Carlos de Sousa

    CEO

  • Gustav Gaudernack

    CSO

  • Hans Vassgård Eid

    CFO

  • Jens Bjørheim

    CMO

  • Ton Berkien

    CBO

Balance Sheet

Forecast net cash (NOKm)

346.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 9.6 5.1 30.8
Relative 5.5 (3.4) 19.6
52 week high/low NOK136.0/NOK59.9

Financials

Ultimovacs is a biotechnology company focused on developing a next generation cancer vaccine with virtually universal potential. Lead asset, UV1, activates the immune system to recognise cancer cells that express hTERT, which is present in c 85% of all cancer types. For this reason, UV1 has broad potential in a variety of cancers and in combination with other treatments. The company’s R&D strategy is to combine UV1 with checkpoint inhibitors due to an expected treatment synergy. The broad R&D programme includes five Phase II trials in different solid tumours, which will enrol more than 600 patients in total. Readouts are expected over 2023–25. The most near-term catalyst for the share price is topline readouts from the Phase II INITIUM study in malignant melanoma, expected in H124.

Y/E Dec Revenue (NOKm) EBITDA (NOKm) PBT (NOKm) EPS (fd) (öre) P/E (x) P/CF (x)
2021A 0.0 (161.1) (164.7) (508.83) N/A N/A
2022A 0.0 (181.0) (167.8) (489.06) N/A N/A
2023E 0.0 (235.8) (214.8) (624.46) N/A N/A
2024E 0.0 (274.0) (277.9) (807.84) N/A N/A

edison tv

Healthcare

Ultimovacs – executive interview

Flash note

Ultimovacs — UV1 encouraging three-year survival data

Flash note

Healthcare

Ultimovacs — Further positivity for UV1

Update

Healthcare

Ultimovacs — UV1 development funded past key readouts

Flash note

Healthcare

Ultimovacs — Patient expansion in Phase I TENDU

Flash note

Healthcare

Ultimovacs — Positive Phase I survival data in melanoma

Update

Healthcare

Ultimovacs — Patient enrolment continues; catalysts approach

Flash note

Healthcare

Ultimovacs — UV1 Phase II data flow creeps closer

edison tv

Healthcare

Ultimovacs – executive interview

Update

Healthcare

Ultimovacs — New large indication for UV1

Update

Healthcare

Ultimovacs — Data continue to impress in Phase I UV1 study

Update

Healthcare

Ultimovacs — ORR impressive in Phase I UV1 plus Keytruda

Initiation

Healthcare

Ultimovacs — Cancer vaccine with virtually universal potential

edison tv

Healthcare

Ultimovacs – Edison Open House interview

QuickView

Healthcare

Ultimovacs — Phase II data from 500+ patients over 2022/23

QuickView

Healthcare

Ultimovacs — Cancer vaccine with near-universal potential