Nordic | Biotech & Healthcare Your insights to listed Danish & Nordic biotech & healthcare stocks. We keep you updated on their news flow including updates on clinical trials, acquisitions, insider trading, price targets, right issues, etc. We also present the top 3 best-performing stocks in the Nordics each week.

The past week was full of news. Genmab and Zealand Pharma received new price targets following their Q3 earnings, Evaxion shared phase 2 clinical data regarding EVX-01, 2CureX got a CE mark, and IO Biotech completed enrollment of patients in a phase 3 trial. The best-performing healthcare stock rose more than 300% last week.

In the past week, 13 of the 20 listed Danish biotech companies published news. 9 of the 20 companies had a positive share price development the past week and 9 companies have a positive share price performance year-to-date. Cessatech continues to be the best performing stock year-to-date with a 161% increase.

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Danish Company news the past week

Ascendis Pharma

Ascendis Pharma Reports Third Quarter 2023 Financial Results (Link)

Biosergen

No news the past week

Cessatech

No news the past week

CS Medica

No news the past week

Curasight

No news the past week

Evaxion Biotech

Evaxion shared phase 2 clinical data regarding EVX-01 in a webinar with Key Opinion Leader Adnan Khattak (link)

Expres2ion

ExpreS2ion to participate in upcoming events (Link)

Bulletin from the Extraordinary General Meeting of ExpreS2ion Biotech Holding AB held on 9 November 2023 (Link)

Fluoguide

FluoGuide confirms positive topline results from phase lla trial of FG001 in head & neck cancer at International Academy of Oral Oncology conference (Link)

Genmab

Genmab Announces Financial Results for the First Nine Months of 2023 (Link)

Genmab to Present at Jefferies London Healthcare Conference (Link)

Following Genmab’s release of the quartly results several brokers have made new price targets. Danske Bank, Kempen, and Barclays have lowered their target to 3,000 DKK, while Carnegie has set a price target of 2,750 DKK, Goldman Sachs of 2,640 DKK, and DNB of 2,450 DKK. The current price is 2,153 DKK.

Gubra

Trading statement Q3-2023: Continued strong performance (Link)

Initiator Pharma

Q3 2023 REPORT (Link)

IO Biotech

IO Biotech Completes Enrollment of 380 Patients in Pivotal Phase 3 Trial in Advanced Melanoma (Link)

IO Biotech Announces Participation in Upcoming Investor Conferences (Link)

Pila Pharma

Pila Pharma invites to After-Work investor meetings (Link)

Saniona

No news the past week

Scandion Oncology

No news the past week

SynAct Pharma

No news the past week

ViroGates

ViroGates announces its Interim Report for Q1-Q3, 2023: Revenue for the first nine months (Q1-Q3, 2023) was affected by a rough start to the year, despite Q3 itself represented Year-on-Year growth of 40% (Link)

ViroGates announces an offering of new shares with pre-emptive rights for existing shareholders (Link)

Zealand Pharma

Zealand Pharma Announces Financial Results for the First Nine Months of 2023 (Link)

Zealand Pharma to participate in the Jefferies London Healthcare Conference in November 2023 (Link)

Goldman raised their price target to 380 DKK from 375 DKK. The current share price is 279.2 DKK.

Y-mAbs Therapeutics

Y-mAbs will announce third quarter 2023 financial and operating results today

2cureX

INDITREAT® IMAGE UPLOADER GETS IVD CE-MARK (Link)

SELECTED CASES

SHARE PRICE DEVELOPMENTS – Dansih stocks

On average, the Danish biotech and healthcare stocks delivered a negative share price performance last week of -4.5% heavily influenced by Evaxion Biotech and ViroGates which fell 37% and 43%. Quarterly results had in general a big impact on the share prices: Genmab rose 7% following their quarterly results and several new price targets higher than the current price; Gubra also performed well following their quarterly results with revenue of 53 MDKK and a negative net income. On the other hand, ViroGates fell 43% following their quarterly results with declining revenues and increasing net loss compared to Q1-Q3 2023 compared to the same period in 2022. Evaxion fell 37% following a presentation of their phase 2 clinical data regarding EVX-01.

The best stocks year-to-date include Curasight, Cessatech, Fluoguide, and Saniona after soaring 91-161%. Overall, the Danish biotech and healthcare stocks are in negative territory this year with a year-to-date return of -5.2%.

Read more about Curasight (in Danish): Positive studiedata mod lungekræft styrker Curasights stærke kursudvikling

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

DEVELOPMENTS IN NORDIC BIOTECH & HEALTHCARE

In the past week, the Kapital Partner Nordic Healthcare Index (KPHC) fell 0.46% to 59.94. Kapital Partner Nordic Healthcare Index tracks all biotech & healthcare companies in the Nordics. It includes large-cap companies such as Novo Nordisk and Genmab as well as smaller companies such as Curasight. In the past 12 months, it has significantly underperformed relative to the C25-index in Copenhagen and S30-index in Stockholm, while the Kapital Partner Nordic Growth Exchanges index (KPNGX) has followed the KPHC-index’s downward trajectory.

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

64-317% in weekly retrun for the best performing Nordic biotech & healthcare stocks the past week

Immunovia AB (317%) (Nordnet) develops and commercializes products for the detection of hemolysis in blood samples. The company has developed products that ensure that the hemolysis is detected at an early stage, which means that the blood sample can be taken care of immediately. The company also develops digital reading that is used as a complement to the main product. In the past week, Immunovia announced a successful completion of the discovery phase for the company’s next-generation test (Link). Furthermore, they announced quarterly results.

Glycorex Transplantation AB (95%) (Nordnet) conducts research, development, and marketing within the field of organ transplantation. The main product of the company, Glycosorb-ABO, enables transplants irrespective of the blood type of the donors and the recipients. Transplants with the help of the company’s product have been carried out worldwide. Glycorex Transplantation was founded in 1996 and is based in Lund.

Amniotics AB (64%) (Nordnet) specializes in the research and development of various drug candidates. The product portfolio includes, for example, stem cell-based therapies for the treatment of serious life-threatening diseases, where effective treatment is lacking or insufficient. In addition to the main business, service and associated ancillary services are also offered.

Sources: Refinitiv & Nordnet