Ultimovacs (ULTI)

Last close As at 28/03/2024

NOK7.97

0.28 (3.64%)

Market capitalisation

NOK265m

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 | Flash note

Ultimovacs — UV1 hits transitory roadblock with INITIUM top-line

Healthcare | edison tv

Ultimovacs – executive interview

Healthcare | Flash note

Ultimovacs — Another ODD boosts the off-the-shelf, universal 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 debt (NOKm)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (94.6) (93.5) (93.0)
Relative (94.8) (93.7) (93.8)
52 week high/low NOK160.4/NOK6.3

Financials

Ultimovacs has announced top-line results for the Phase II INITIUM trial evaluating its cancer vaccine for the treatment of malignant melanoma. While UV1 maintained its desirable safety and tolerability profile, the study did not meet its primary endpoint of progression-free survival (PFS), or the secondary endpoints of overall survival (OS) and objective response rate (ORR). The UV1 arm showed similar performance to the control arm, ipilimumab and nivolumab (the current standard of care). Despite these top-line results, the company will continue to explore UV1 in the other four Phase II indications in combination with various checkpoint inhibitors. Upcoming milestones include top-line results for FOCUS in Q324 (in head and neck squamous cell carcinoma), an update on the OS data from NIPU in H224 (in malignant pleural mesothelioma) and top-line results for DOVACC in H125 (in ovarian cancer). Management’s cash preservation initiatives are intended to sustain the company into 2025.

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) (489.9) N/A N/A
2023A 0.0 (213.0) (189.2) (550.1) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Thematics

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