NORDIC | BIOTECH & HEALTHCARE Your insights into listed Danish & Nordic biotech & healthcare stocks.
Last week the Nordic healthcare stocks increased 1.5% despite a week with a high level of volatility. CS Medica named Avanti as a preferred partner in Brazil, Expres2ion submitted a CTA for the start of a phase 1 study targeted against breast cancer, and Genmab announced financial results with an improved outlook for the year. Many new price targets were initiated following the news with UBS being the most positive. The Danish biotech stocks have on average increased 35% year-to-date.
7 of the 22 Danish biotech companies had a positive share price development the past week and 10 companies have had a positive share price performance year-to-date. Gubra is the best-performing Danish healthcare stock year-to-date with a 399% return and QLife Holding AB was the best Nordic healthcare investment last week. 5 Danish healthcare stocks with +100% YTD return.
Danish company news
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CS MEDICA’s CANNORDIC Names Pharma Avanti as Preferred Partner in Brazil (Link)
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Evaxion to Present One-Year Clinical Efficacy Data from its Phase 2 Study on Lead Cancer Vaccine Candidate, EVX-01, at the ESMO Congress 2024 in September (Link)
ExpreS2ion submits Clinical Trial Application (CTA) to conduct Phase I study of ES2B-C001, an innovative therapeutic breast cancer vaccine (Link)
No news the past week
Genmab Takes Full Control of Acasunlimab Development Program (Link)
Genmab Updates 2024 Financial Guidance (Link)
Genmab Announces Financial Results for the First Half of 2024 (Link)
Following the financial updates and development of Acasunlimab new price targets were initiated; DKK 2,015 by Cowen, DKK 2,335 by SEB, DKK 2,800 by Danske Bank, DKK 2,509 by Goldman Sachs, and DKK 2,850 by UBS.
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Y-mAbs Announces Second Quarter 2024 Conference Call and Webcast (Link)
Y-mAbs to Participate in Upcoming Investor Conferences in August (Link)
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Share price development – Danish stocks
On average, the Danish biotech and healthcare stocks performed poorly, with a return of -1.1%. CS Medica rose 7% after naming Avanti as its preferred partner in Brazil, ExpreS2ion submitted a CTA to complete a phase I study with ES2B-C001 targeted against breast cancer. However, Genmab received the most publicity last week. The company announced it has now taken full control of Acasunlimab, financial results as well as an improved outlook. The company now expects DKK 20.5-21.7 billion in revenue compared to DKK 18.7-20.5 billion previously expected. The increase in expectations for revenue reflects the continued strong growth of DARZALEX and Kesimpta net sales. Finally, the company also received many new price targets following the updates with UBS having the most positive forecast.
The best stock year-to-date is Gubra followed by Pila Pharma with 399% and 244% increases respectively after the first 7 months of trading. CS Medica, Zealand Pharma, and Acarix have also made a 114% to 184% return year-to-date. Overall the Danish biotech and healthcare stocks are in positive territory this year with a year-to-date return of 35%. In other words, it has had a stellar performance.
Overview of share price development the past week, year-to-date, and the last twelve months
Nordic Biotech & Healthcare Developments
In the past week, the all-Nordic index Kapital Partner Nordic Healthcare Index (KPHC) rose 1.5% to 69,70, which is quite impressive considering last week’s turmoil. The index has had a strong performance since the end of April and it has now surpassed the KPNGX index. 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 10%.
The index development for the KPHC index the past year
46-78% in weekly return for the Nordic healthcare stocks
Qlife Holding AB (78%) specializes in the research and development of IVD units. The units are used as biomarker tests in blood and are used as a complement to other tests in healthcare. Cooperation is also carried out with other actors on the market.
Isofol Medical AB (68%) conducts research and development in the fields of oncology. The company develops cancer drugs and drug candidates that are primarily intended for the treatment of colorectal cancer (CRC), one of the most common forms of cancer. In addition to the main activities, the companies also develop so-called rescue treatment after high-dose treatment with the cytotoxic methotrexate in osteosarcoma (bone cancer).
NanoEcho (46%)is active in healthcare, with a main focus in rectal cancer diagnostics. The company is active in the clinical stage, where a new diagnostic method is being developed to determine whether early rectal cancer has spread to nearby lymph nodes. The method aims to provide a correct diagnosis and individualized treatment.
Sources: Refinitiv Eikon, Cision, Nordnet & company websites.
