Ultimovacs - Edison Group

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

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Healthcare |
Flash note

18.04.24

Ultimovacs — Steadfast commitment to UV1 progression

Healthcare |
Flash note

07.03.24

Ultimovacs — UV1 hits transitory roadblock with INITIUM top-line

Healthcare |
Flash note

04.03.24

Ultimovacs — Peer-reviewed publication reiterates UV1’s potential

Healthcare |
edison tv

27.02.24

Ultimovacs – executive interview

Ultimovacs_resized

Sector

Healthcare

Equity Analyst

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Analyst

Jyoti Prakash

Analyst, Healthcare

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	1.3	(94.2)	(93.9)
Relative	(0.5)	(94.6)	(94.3)
52 week high/low	NOK160.4/NOK6.3

Financials

Despite the recent setback with the INITIUM trial (first-line treatment of patients with unresectable or metastatic malignant melanoma), Ultimovacs has reinstated its commitment to press on with its clinical development of its cancer vaccine, UV1, across other target indications. The principal near-term focus will be on the anticipated results of Phase II FOCUS (head and neck cancer) and DOVACC (ovarian cancer) trials in Q324 and H125, respectively, and will inform its subsequent strategic direction. To remain funded to these milestones, the company has enforced stringent cost control measures, including activity level adjustments, reprioritisation of operations and a 40% workforce reduction, to support runway extension to Q425 (the company estimates its cash burn will be NOK15m/quarter).

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

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Flash note

Healthcare

02.11.23

Ultimovacs — Line of sight on INITIUM top-line readout

research

Healthcare

18.10.23

Ultimovacs — Overall survival is the name of the NIPU PII game

Ultimovacs_resized

Flash note

Healthcare

12.10.23

Ultimovacs — Two for two in melanoma Phase I trial

Ultimovacs_resized

Flash note

Healthcare

10.10.23

Ultimovacs — UV1 ODD a sign of positive things to come

Update

Healthcare

24.08.23

Ultimovacs — Gearing up for UV1 Phase II trial readouts

Flash note

Healthcare

04.08.23

Ultimovacs — FOCUS – first in series of upcoming catalysts

Ultimovacs_resized

Flash note

Healthcare

20.06.23

Ultimovacs — Positive Phase I update in malignant melanoma

Update

Healthcare

12.06.23

Ultimovacs — UV1 by no means out after NIPU readout

Update

Healthcare

15.05.23

Ultimovacs — All steady as Phase II trial readouts approach

Update

Healthcare

26.04.23

Ultimovacs — NIPU and INITIUM readouts incoming for UV1

Ultimovacs_resized

Update

Healthcare

21.02.23

Ultimovacs — Gathering steam with multiple inflections in FY23

Flash note

Healthcare

23.01.23

Ultimovacs — Phase II milestone as licensing potential nears

Flash note

Healthcare

21.12.22

Ultimovacs — Slight adjustment but trial continues as planned

Flash note

Healthcare

15.12.22

Ultimovacs — Prostate cancer trial patient enrolment complete

Update

Healthcare

11.11.22

Ultimovacs — On track for upcoming UV1 catalysts

Flash note

25.10.22

Ultimovacs — First patient in Phase II LUNGVAC study

edison tv

Healthcare

21.10.22

Ultimovacs – executive interview

Flash note

18.10.22

Ultimovacs — Biomarker insight into UV1 combination

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

edison tv

Healthcare

16.01.22

Ultimovacs – executive interview Test

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

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Healthcare

20.01.21

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

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Healthcare

20.11.20

Ultimovacs — Cancer vaccine with near-universal potential