Ultimovacs (OSE: ULTI)

Last close As at 28/02/2024

NOK131.00

−3.80 (−2.82%)

Market capitalisation

NOK4,508m

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 | edison tv

Ultimovacs – executive interview

Healthcare | Flash note

Ultimovacs — Another ODD boosts the off-the-shelf, universal UV1

Healthcare | Flash note

Ultimovacs — FDA Fast Track boosts confidence in UV1

Ultimovacs_resized

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Arron Aatkar

Associate analyst

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 (5.2) 15.9 12.9
Relative (3.9) 19.4 15.5
52 week high/low NOK160.4/NOK68.3

Financials

Ultimovacs has been granted Orphan Drug designation (ODD) from the European Medicines Agency (EMA) for UV1 in mesothelioma, marking another step forward for the clinical development of its lead universal, off-the-shelf cancer vaccine. This encouraging regulatory designation follows on the heels of the FDA ODD (October 2023) and Fast Track designation (February 2024) for UV1 in this same indication, which helps set the foundation for a potential Phase III programme. A key benefit of EU ODD is the potential for 10-year market exclusivity, provided UV1 achieves regulatory approval. The EMA decision was based on the recent positive data from the Phase II NIPU trial (reported October 2023) demonstrating a 27% reduction in risk of death with UV1 treatment compared to the standard of care in patients with malignant pleural mesothelioma (MPM). We await the results from the Phase II INITIUM trial in malignant melanoma (MM), the company’s lead indication, in March 2024, which is likely the next catalyst for the company.

Y/E Dec Revenue (NOKm) EBITDA (NOKm) PBT (NOKm) EPS (fd) (öre) P/E (x) P/CF (x)
2022A 0.0 (181.0) (167.8) (489.94) N/A N/A
2023A 0.0 (213.0) (189.2) (550.14) N/A N/A
2024E 0.0 (232.4) (225.8) (656.14) N/A N/A
2025E 1212.0 1081.7 1080.7 3140.92 4.2 N/A

Research

Ultimovacs_resized

Flash note

Healthcare

Ultimovacs — UV1 ODD a sign of positive things to come

Ultimovacs_resized

Flash note

Healthcare

Ultimovacs — Positive Phase I update in malignant melanoma

Update

Healthcare

Ultimovacs — UV1 by no means out after NIPU readout

Update

Healthcare

Ultimovacs — On track for upcoming UV1 catalysts

edison tv

Healthcare

Ultimovacs – executive interview

edison tv

Healthcare

Ultimovacs – executive interview

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

Flash note

Healthcare

Ultimovacs — UV1 Phase II data flow creeps closer

edison tv

Healthcare

Ultimovacs – executive interview

edison tv

Healthcare

Ultimovacs – executive interview Test

Update

Healthcare

Ultimovacs — New large indication for UV1

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