Ultimovacs - Edison Group

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“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”

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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

Overview
Price performance
Financials
Research
Thematics

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

View More

Healthcare |
Update

24.08.23

Ultimovacs — Gearing up for UV1 Phase II trial readouts

Healthcare |
Flash note

04.08.23

Ultimovacs — FOCUS – first in series of upcoming catalysts

Healthcare |
Flash note

20.06.23

Ultimovacs — Positive Phase I update in malignant melanoma

Healthcare |
Update

12.06.23

Ultimovacs — UV1 by no means out after NIPU readout

Ultimovacs_resized

Sector

Healthcare

Equity Analyst

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

Research

edison tv

Healthcare

21.10.22

Ultimovacs – executive interview

Flash note

18.10.22

Ultimovacs — Biomarker insight into UV1 combination

Flash note

Ultimovacs — First patient in Phase II LUNGVAC study

edison tv

Healthcare

17.10.22

Ultimovacs – executive interview

Flash note

06.10.22

Ultimovacs — UV1 encouraging three-year survival data

Flash note

Healthcare

13.09.22

Ultimovacs — Further positivity for UV1

Update

Healthcare

19.08.22

Ultimovacs — UV1 development funded past key readouts

Flash note

Healthcare

19.08.22

Ultimovacs — Patient expansion in Phase I TENDU

Flash note

Healthcare

21.06.22

Ultimovacs — Positive Phase I survival data in melanoma

Update

Healthcare

15.06.22

Ultimovacs — Patient enrolment continues; catalysts approach

Flash note

Healthcare

13.05.22

Ultimovacs — UV1 Phase II data flow creeps closer

edison tv

Healthcare

07.03.22

Ultimovacs – executive interview

Update

Healthcare

13.12.21

Ultimovacs — New large indication for UV1

Update

Healthcare

03.09.21

Ultimovacs — Data continue to impress in Phase I UV1 study

Update

Healthcare

21.05.21

Ultimovacs — ORR impressive in Phase I UV1 plus Keytruda

Initiation

Healthcare

17.03.21

Ultimovacs — Cancer vaccine with virtually universal potential

edison tv

Healthcare

03.02.21

Ultimovacs – Edison Open House interview

QuickView

Healthcare

20.01.21

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

QuickView

Healthcare

20.11.20

Ultimovacs — Cancer vaccine with near-universal potential

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