Last close As at 05/08/2026
SEK4.76
▲ −0.02 (−0.33%)
Market capitalisation
SEK1,484m
Research: Healthcare
Cereno Scientific has released updates on its two most advanced clinical programmes. For CS1, which is being investigated as a potential treatment for pulmonary arterial hypertension, recruitment has been closed for the Phase II trial, meaning that data analysis may commence. Top-line results are on track to be shared in Q324, consistent with prior guidance, and potentially representing the company’s most significant upcoming catalyst. For CS014, Cereno has now confirmed that the first participant has been dosed, quick on the heels of the recent clearance from the European Medicines Agency for the trial launch. CS014 has shown promise in preclinical studies as a novel treatment for thrombosis prevention without increased risk of bleeding, a key limitation of current antithrombotic medication. We anticipate initial data in mid-2025.
Written by
Cereno Scientific |
CS1 Phase II results inbound; first dose of CS014 |
Clinical updates |
Pipeline update |
Pharma and biotech |
2 July 2024 |
Share price performance
Business description
Analysts
Cereno Scientific is a research client of Edison Investment Research Limited |
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Cereno Scientific has released updates on its two most advanced clinical programmes. For CS1, which is being investigated as a potential treatment for pulmonary arterial hypertension, recruitment has been closed for the Phase II trial, meaning that data analysis may commence. Top-line results are on track to be shared in Q324, consistent with prior guidance, and potentially representing the company’s most significant upcoming catalyst. For CS014, Cereno has now confirmed that the first participant has been dosed, quick on the heels of the recent clearance from the European Medicines Agency for the trial launch. CS014 has shown promise in preclinical studies as a novel treatment for thrombosis prevention without increased risk of bleeding, a key limitation of current antithrombotic medication. We anticipate initial data in mid-2025.
Year end |
Revenue (SEKm) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/22 |
0.0 |
(27.6) |
(0.20) |
0.0 |
N/A |
N/A |
12/23 |
0.0 |
(48.1) |
(0.20) |
0.0 |
N/A |
N/A |
12/24e |
0.0 |
(49.4) |
(0.18) |
0.0 |
N/A |
N/A |
12/25e |
0.0 |
(47.0) |
(0.17) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Cereno has announced that the Phase II trial for CS1 has closed recruitment and will proceed with data analysis, based on a recommendation from the Study Clinical Steering Committee, which reported that there is now sufficient data available to evaluate the next steps. The Phase II trial (n=30) commenced in July 2022 and its innovative design was recognised in a publication in Pulmonary Circulation, showcasing the comprehensive measures involved in the study. It is a randomised, open-label, blinded endpoint, multicentre study, leveraging Abbott’s CardioMEMS Heart Failure System for continuous insights into pulmonary pressure and hemodynamics. Primary endpoint measures include safety, tolerability, pharmacokinetics and exploratory efficacy. As previously noted, we have been encouraged by interim updates for the Phase II trial, including an interim patient case study, data quality control review and FDA approval of an Expanded Access Programme to allow participants to continue taking CS1, reflecting the perceived patient benefit, in our view. However, we note that more detailed conclusions cannot be made until the final analysis is complete and top-line results are shared in Q324. As this is Cereno’s most advanced clinical programme, we believe the results from this trial represent the company’s most significant upcoming catalyst.
Cereno has also reported that the first participant has been dosed in the Phase I trial for CS014. This is a first-in-human, open-label study to assess the safety and tolerability of the candidate in healthy volunteers, and will entail single ascending and multiple ascending dose groups. The trial aims to recruit 48 participants, and management has communicated that the results will likely be shared one year from now. For a more detailed discussion, please see our prior update note.
We view these updates as encouraging signs that Cereno’s plans for its clinical-stage programmes are progressing as anticipated. The company’s third asset, CS585, is in the earlier stages of development. We expect the selection of a clinical indication within the broader cardiovascular disease area by end-2024.
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Research: Healthcare
Sareum Holdings has announced positive top-line data from the Phase Ia clinical trial for SDC-1801, its lead asset, a novel TYK2/JAK1 inhibitor targeting autoimmune conditions. The results, which include data from the multiple ascending dose (MAD) arm, reiterate the drug-supportive safety profile and once-daily dosing potential, complementing the preliminary data released in February 2024. Notably, no significant change in serum creatinine levels (which tends to affect kidney function) was observed in SDC-1801 treatment, a potential limitation of the TYK2/JAK1 inhibitor category leader, brepocitinib, as seen in several clinical trials. Full, unblinded data from the Phase I study will be available in Q324 and will potentially be followed by a Phase IIa study in psoriasis patients.