Phase 2 studies defined another positive week for the sector: Nordic | Biotech & Healthcare (week 45)

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

In the past week, Evaxion Biotech announced encouraging phase 2 data for its personalized cancer vaccine, SynAct Pharma experienced new challenges regarding their phase 2 RESOLVE study, Gubra got new board members, and 4 companies are reporting Q3-earnings this week.

In the past week, 9 of the 20 listed Danish biotech companies published news. 14 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 192% increase.

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Danish Company news the past week

Ascendis Pharma

Ascendis Pharma Announces Timing of Third Quarter 2023 Financial Results and TransCon PTH NDA Resubmission (Link)


No news the past week


No news the past week

CS Medica

CS MEDICA A/S Achieves Milestone with Patent on Nasal Protect Gel (Link)


No news the past week

Evaxion Biotech

Evaxion Announces Encouraging Initial Phase 2 Clinical Data on Its Personalized Cancer Vaccine EVX-01 (Link)


No news the past week


No news the past week


Genmab Announces Multiple Abstracts to be Presented at the 65th Annual Meeting and Exposition of the American Society of Hematology (ASH) (Link).

Genmab is expected to release its Q3 earnings report this week on November 7. Leading into the Q3 earnings, the stock currently has 11 recommendations by analysts with 4 “buy”, 6 “hold”, and 1 “sell” recommendation.


Gubra strengthens Board of Directors (Link)

Initiator Pharma

No news the past week

IO Biotech

IO Biotech Presents Three Posters at the Society for Immunotherapy of Cancer’s (SITC) 38th Annual Meeting (Link)

Pila Pharma

No news the past week


No news the past week

Scandion Oncology

No news the past week

SynAct Pharma

SynAct Pharma announces evaluation of the 4-week RESOLVE P2a clinical trial in moderate to severely active rheumatoid arthritis patients with an incomplete response to methotrexate (Link)

Change in number of shares and votes in SynAct Pharma (Link)


No news the past week

Zealand Pharma

Zealand Pharma conference call on November 9 at 2pm CET (8am ET) to present third quarter 2023 results (Link)

Y-mAbs Therapeutics

Y-mAbs to Announce Third Quarter 2023 Financial and Operating Results on November 13, 2023 (Link)


No news the past week



On average, the Danish biotech and healthcare stocks delivered a positive share price performance last week of 0.7%. Evaxion Biotech rose 41% after they announced encouraging data from their phase 2 trial with EVX-01. Noteably, SynAct Pharma fell 60% after they identified a number of issues with their phase 2 trial with their lead candidate AP1189 that require further investigation before any conclusion can be drawn from the results of the study. This follows after an already difficult year for SynAct Pharma with the stock now down 92% year-to-date. The best stocks year-to-date include Curasight, Cessatech, Fluoguide, and Saniona after soaring 78-192%. Overall, the Danish biotech and healthcare stocks are in negative terrotory this year with a year-to-date return of -0,6%.

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


In the past week, Kapital Partner Nordic Healthcare Index (KPHC) rose 4.2% to 60.22. 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 as Curasight. In the past year, it has significantly underperformed relative to the C25-index in Copenhagen and S30-index in Stockholm, while the Kapital Parnter Nordic Growth Exchanges index (KPNGX) has followed the KPHC-index’ downward trajectory.

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.

The 3 best performing Nordic biotech & healthcare stocks the past week

Hemcheck AB (154%) (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. 

Annexin Pharmaceuticals AB (58%) (Nordnet)  is a biotechnology company with development in the Annexin A5 area. The company’s 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.

Calmark Sweden AB (42%) (Nordnet)  is specialised in the development of diagnostic equipment for infants. The technology is based on a proprietary platform and is used for analysis during the first weeks after birth. The instrument is used as a biomarker to study blood count.

Sources: Eikon & Nordnet


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