Currency in SEK
Last close As at 02/06/2023
SEK1.49
▲ 0.04 (2.76%)
Market capitalisation
SEK59m
Scandion Oncology has announced that the first patient in part 3 of the Phase II CORIST trial has been dosed. The CORIST development programme is investigating the use of the company’s chemotherapy add-on, SCO-101, in combination with FOLFIRI in metastatic colorectal cancer (mCRC). Importantly, part 3 will expand the patient population to include those harbouring RAS mutations (c 50% of patients) and will investigate optimised dosing schedules based on findings from CORIST part 2. The initiation of part 3 is on schedule with management’s communicated timelines and is expected to report top-line results in Q323. After part 2 top-line results failed to provide proof-of-concept for the SCO-101/FOLFIRI combination, we believe secondary efficacy endpoints from part 3 will be important in establishing SCO-101’s clinical utility. We value Scandion Oncology at SEK279.0m or SEK6.9 per share.
Scandion Oncology |
CORIST part 3 begins enrolment |
Clinical trial update |
Pharma and biotech |
11 October 2022 |
Share price performance Business description
Analysts
Scandion Oncology is a research client of Edison Investment Research Limited |
Scandion Oncology has announced that the first patient in part 3 of the Phase II CORIST trial has been dosed. The CORIST development programme is investigating the use of the company’s chemotherapy add-on, SCO-101, in combination with FOLFIRI in metastatic colorectal cancer (mCRC). Importantly, part 3 will expand the patient population to include those harbouring RAS mutations (c 50% of patients) and will investigate optimised dosing schedules based on findings from CORIST part 2. The initiation of part 3 is on schedule with management’s communicated timelines and is expected to report top-line results in Q323. After part 2 top-line results failed to provide proof-of-concept for the SCO-101/FOLFIRI combination, we believe secondary efficacy endpoints from part 3 will be important in establishing SCO-101’s clinical utility. We value Scandion Oncology at SEK279.0m or SEK6.9 per share.
Year end |
Revenue (DKKm) |
PBT* (DKKm) |
EPS* |
DPS |
P/E |
Yield |
12/20 |
1.0 |
(21.5) |
(0.53) |
0.0 |
N/A |
N/A |
12/21 |
0.8 |
(57.2) |
(1.61) |
0.0 |
N/A |
N/A |
12/22e |
0.8 |
(64.9) |
(1.66) |
0.0 |
N/A |
N/A |
12/23e |
0.8 |
(82.4) |
(1.89) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
CORIST part 3 will enrol up to 36 patients and aims to identify a new dosing schedule for the SCO-101/FOLFIRI combination, based on pharmacokinetic and pharmacodynamic data from CORIST part 1 and 2. The study will employ a dose-escalation (3+3) design with the combination being administered once daily on days one to six and FOLFIRI administered on days two to four of each treatment cycle. The company expects this protocol could be more efficacious than previous regimens. We expect top-line results from part 3 to be reported in Q323 but this may vary depending on the success of the new dosing protocols.
We note that evidence of efficacy was observed in CORIST part 2 and SCO-101 has consistently demonstrated a good safety profile. We believe this suggests that higher doses may be well-tolerated, and an increased efficacy profile may be achievable in part 3. However, we note that higher doses do not always correlate with increased efficacy and may result in undesirable side effects. Part 3 will be followed by part 4 (which could begin as soon as Q323) to assess the efficacy of the optimised SCO-101/FOLFIRI dosing protocol (n=24) identified in part 3. We expect part 4 will use a similar trial design to that used in part 2 and will run for six months, bringing the earliest potential top-line readout to Q224. Management will provide an update on clinical timelines in Q123.
|
|
Quarter-on-quarter revenue growth of 28% in Q322 confirmed that supply chain challenges have started to ease for XP. Despite the current uncertain economic environment, and reports of weaker consumer demand from some semiconductor companies, XP reported robust order intake and a book-to-bill of 1.27x for Q3, closing the quarter with a record order book. The discount to peers has widened, in our view reflecting uncertainty around demand and the Comet litigation case.
Get access to the very latest content matched to your personal investment style.