Cessatech, Evaxion and Zealand Pharma presents positive data and healthcare stocks are making a comeback

NORDIC | BIOTECH & HEALTHCARE Your insights into listed Danish & Nordic biotech & healthcare stocks.

Last week, the KPHC rose 1.6%, and the Danish healthcare stocks rose 1.1%. Evaxion presented data from its ongoing phase II study validating its discovery platform, Cessatech got positive pain data for CT001 vs. competitors, and Zealand Pharma reported a, “breakthrough in liver fibrosis” and got a price target increase from Goldman Sachs.

9 of the 22 Danish healthcare companies had a positive share price development the past week and 9 companies have had a positive share price performance year-to-date. Gubra is the best-performing Danish healthcare stock year-to-date with a 185% return and SoftOx Solutions was the best Nordic healthcare investment last week.

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No news the past week

Ascendis Pharma

Ascendis Pharma to Participate in the Goldman Sachs 45th Annual Global Healthcare Conference (Link)

Ascendis Pharma Presents New Data and Updated Results from Phase 1/2 IL-Believe Trial at ASCO 2024 (Link)


No news the past week


Cessatech announces superior simulated pain efficacy in children favouring its lead candidate CT001 relative to its active comparators (Link)

CS Medica

No news the past week


No news the past week

DanCann Pharma

No news the past week

Evaxion Biotech

No news the past week


Evaxion Presents Positive and Validating Immune Data from Ongoing Phase 2 Trial with AI-Designed EVX-01 Vaccine at the ASCO Annual Meeting 2024 (Link)


No news the past week


Genmab to Participate in a Fireside Chat at the Goldman Sachs 45th Annual Global Healthcare Conference (Link)

Investigational Acasunlimab (DuoBody® -PD-L1x4-1BB) in Combination with Pembrolizumab Demonstrates Meaningful Clinical Activity in Phase 2 Trial in Patients with Previously Treated Metastatic Non-small Cell Lung Cancer (mNSCLC) (Link)


No news the past week

Initiator Pharma

No news the past week

IO Biotech

No news the past week

Pila Pharma

No news the past week


No news the past week

Scandion Oncology

No news the past week

SynAct Pharma

No news the past week


No news the past week

Zealand Pharma

Zealand Pharma announces that Boehringer Ingelheim will present positive results from Phase 2 trial with survodutide in MASH at EASL (Link)

Zealand Pharma announces that Boehringer Ingelheim’s survodutide demonstrates breakthrough improvement in liver fibrosis with no worsening of MASH in 64.5% of patients with F2 and F3 fibrosis (Link)

Goldman Sachs lifted their price target on Zealand Pharma from DKK 835 to DKK 872 following the news mentioned above.

Y-mAbs Therapeutics

Y-mAbs Deepens Radiopharmaceutical Leadership with Appointment of Norman LaFrance, M.D. as Chief Development Officer (Link)

Y-mAbs Announces Preclinical GD2-SADA Data to be Presented at 2024 SNMMI Annual Meeting (Link)


No news the past week



On average, the Danish biotech and healthcare stocks delivered a positive share price performance the past week of 1.1% compared to 1.6% for the KPHC index. Pila Pharma became the best-performing Danish healthcare stock with a 32% increase. The stock is now up 243% over the past 3 months without any significant company news. ExpreS2ion rose 5% following presentation of further positive data, and Cessatech rose 3% after they presented positive pain data for CT001 compared to competitors. Finally, Zealand Pharma presented what they call, “breakthrough improvement in liver fibrosis” which led to an increase in the price target from Goldman Sahcs.

The best stock year-to-date is Gubra followed by Pila Pharma with 185-156% increases after the first 5 months of trading. Overall the Danish biotech and healthcare stocks are in positive territory this year with a year-to-date return of 8.5%.

Overview of share price developments the past week, year-to-date, and last twelve months

DanCann Pharma is not presented in the list due to inconsistency between data providers


In the past week, the all-Nordic index Kapital Partner Nordic Healthcare Index (KPHC) rose 1.6% to 67.42. The index has had a strong performance since the end of April and continues to recover from its all-time low in October of 57.12. In the past 12 months, the KPHC index has significantly underperformed relative to large caps, while the venture/small cap Kapital Partner Nordic Growth Exchanges index (KPNGX) has followed the KPHC index’s downward trajectory down around 20%.

The index development for Kapital Partner Healthcare Index the past 12 months

The KPHC index includes all Nordic healthcare stocks. This means both Novo Nordisk and Genmab as well as Curasight.

137-36% in weekly return for the three best-performing Nordic biotech & healthcare stocks the past week

SoftOx Solutions AB (137%) has developed a self-patented solution based on acetic acid for the treatment of chronic wounds in patients. The solution is used to eliminate infections associated with biofilms, which consist of different clusters of bacteria. Part of the drug development takes place in collaboration with other research institutes. 

Bactiquant A/S (119% before today’s increase of 33%) has developed a technology that is used to monitor bacteria levels in water and to ensure the use and management of water resources. The company supplies customers in the global market, which mainly consists of large industrial companies that need water cooling and wastewater treatment.

Annexin Pharmaceuticals AB (63%) biological drug candidate ANXV – a human recombinant protein, Annexin A5 – is primarily intended for the treatment of patients with damage and inflammation in the blood vessels, but also for cancer. The company has an extensive patent portfolio for the treatment and production of Annexin A5.

Sources: Refinitiv Eikon, Cision, Nordnet & company websites


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