New price target and additional phase 3 data among the news for the Danish healthcare stocks

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

Last week, six companies reported financial results, Ascendis Pharma announced 2-year results from a post-hoc analysis of the company’s phase 3 PaTHway Trial, there was a small insider buy in Pila Pharma as well as a new price target by Danske Bank on Zealand Pharma.

9 of the 22 Danish healthcare companies had a positive share price development the past week and 8 companies have had a positive share price performance year-to-date. Gubra is the best-performing Danish healthcare stock year-to-date with a 170% return and Prostatype Genomics was the best Nordic healthcare investment last week.


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DANISH COMPANY NEWS

Acarix

Acarix AB (publ) publishes Interim Report, January – March 2024 (Link)

Acarix CPT III Code Removed from United Healthcare Medicare Advantage Noncovered List (Link)

Ascendis Pharma

Ascendis Pharma Announces Extension of U.S. Food and Drug Administration Review Period for TransCon™ PTH for Adults with Hypoparathyroidism (Link)

Significant and Sustained Improvements in Renal Function Reported for Adults with Chronic Hypoparathyroidism Treated with TransCon™ PTH (Palopegteriparatide): 2-year Results from Phase 3 PaTHway Trial (Link)

Biosergen

No news the past week

Cessatech

First Quarter Report Q1-2024 (Link)

CS Medica

CS MEDICA A/S announces financial results for the first half of the financial year 2023/24 (Link)

Curasight

No news the past week

DanCann Pharma

DanCann Pharma A/S Publishes Its Annual Report for 2023: A Year of Strategic Review and Future Focus on Capital Efficiency and Profitability (Link)

Updated time plan and material terms of the rights issue (Link)

Evaxion Biotech

No news the past week

ExpreS2ion

ExpreS2ion announces financial results for the first quarter of 2024 (Link)

Fluoguide

No news the past week

Genmab

Genmab to Present New and Updated Results From Multiple Clinical Trials Evaluating Epcoritamab Across Various B-Cell Malignancies at the 2024 European Hematology Association (EHA) Congress (Link)

Gubra

No news the past week

Initiator Pharma

No news the past week

IO Biotech

IO Biotech Reports First Quarter 2024 Financial Results and Provides Business Highlights (Link)

Pila Pharma

CEO Gustav H. Gram increases holding in Pila Pharma AB (Link)

Saniona

No news the past week

Scandion Oncology

No news the past week

SynAct Pharma

No news the past week

ViroGates

No news the past week

Zealand Pharma

Zealand Pharma Announces Financial Results for the First Quarter of 2024 (Link)

Danske Bank increased their price target on Zealand Pharma from 604 to 626.

Y-mAbs Therapeutics

No news the past week

2cureX

No news the past week

SELECTED CASES

SHARE PRICE DEVELOPMENTS – Danish stocks

On average, the Danish biotech and healthcare stocks delivered a negative share price performance the past week of -0.8% compared to 0.3% for the KPHC index. 2cureX became the best performer without any news. Acarix also did well with a 12% increase after they presented their Q1 results. On the other hand, the cannabis-related healthcare stocks of DanCann Pharma and CS Medica had a poor performance of -13-14% following the release of financial reports. Ascendis Pharma fell 8% following 2-year results from a post-hoc analysis of the Company’s Phase 3 PaTHway Trial (Link).

The best stock year-to-date is Gubra followed by DanCann Pharma with 117-142% 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 4.6%.

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

NORDIC BIOTECH & HEALTHCARE DEVELOPMENTS

In the past week, the all-Nordic index Kapital Partner Nordic Healthcare Index (KPHC) rose 0.3% to 62.66. 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.

40-81% in weekly return for the three best-performing Nordic biotech & healthcare stocks the past week

Prostatype Genomics AB (81%) specializes in the development of medical-technical genetic tests that are used for identification, analysis, and further follow-up of prostate cancer. In addition to the main business, service and associated ancillary services are also offered. The stock rose following news of their main product now being available in the U.S., a SEK 2 billion market (Link).

AcuCort AB (46%) has developed and commercializes the drug Zeqmelit®, which is an oral film based on the cortisone substance dexamethasone, for quick availability and relief in severe and acute allergic reactions, among other things. The goal is commercialization in the EU, USA and in selected key markets via licensees and distributors.

XP Chemistries AB (40%) is a Swedish biotechnology company with patented technology for producing capsaicin from forest raw materials. Capsaicin is a fat-soluble, color- and odorless, waxy substance. Capsaicin is used today in most products, including animal feed, pest control, cosmetics, and medical products.

Sources: Refinitiv Eikon, Cision, Nordnet & company websites

Disclaimer

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