Initiator Pharma reports positive phase 2 results: Nordic I Biotech & Healthcare (week 41)

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

In the past week, FluoGuide received FDA orphan drug designation for FG001, Initiator Pharma reported positive phase 2 results with pudafensine, and Zealand Pharma announced they will soon start multiple phase 3 studies with Survodutide. Furthermore, the best healthcare stock in the Nordics rose 165% in the past week.

In the past week, 8 of the 20 listed Danish biotech companies published news. Only 7 of the 20 companies had a positive share price development the past week and 8 companies have a positive share price performance year to date. Cessatech continues to be the best performing stock year-to-date with a 166% increase.

Danish Company news the past week

Ascendis Pharma

Ascendis Presents TransCon™ PTH Data at the American Thyroid Association Annual Meeting (Link)


No news the past week


No news the past week

CS Medica

CS MEDICA Named Finalist in the 2023 European Lifestars Awards for Post-IPO Raise of the Year (Link)


No news the past week

Evaxion Biotech

Evaxion Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency (Link)


No news the past week


FluoGuide receives FDA Orphan Drug Designation for FG001 in high-grade glioma (Link)


No news the past week


No news the past week

Initiator Pharma

Initiator Pharma reports positive statistically significant and clinically relevant Phase IIb efficacy data with pudafensine (Link)

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

SynAct Pharma announces additional data from the EXPAND P2b clinical trial further supporting efficacy and activity seen in patients with elevated CRP (Link)


No news the past week

Zealand Pharma

Phase III studies to investigate survodutide for people living with obesity and overweight, with and without diabetes, cardiovascular disease and chronic kidney disease (Link)

Y-mAbs Therapeutics

No news the past week


2cureX will be holding its Q3 2023 online presentation with a Q&A session on October 26, 2023 at 20.00 (CET) (Link)



On average, the Danish biotech and healthcare stocks delivered a positive share price performance last week of 0.5%. Initiator Pharma rose 28% after they reported positive phase IIb efficacy data with pudafensine. SynAct Pharma AB followed as the second best stock of the week following announcement of additional data from their EXPAND phase 2b clinical trial supporting efficacy and activity seen in patients with elevated CRP. On the other hand, Expres2ion Biotech, Saniona and Biosergen fell the most without company specific news during the week. The best stocks year-to-date include Curasight, Cessatech Fluoguide, and Saniona after soaring 76-166%. Overall, the Danish biotech and healthcare stocks are in positive terrotory this year with a year-to-date return of 2.3%. However, it is driven by the few companies delivering very positive returns.

Read more about Curasight (in Danish): Et succesfuldt kvartal for Curasight med mere i vente

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) fell 2,2%. Kapital Partner Nordic Healthcare Index tracksall 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 underperformed significantly to the C25-index in Copenhagen and S30-index in Stockholm.

The index development for Kapital Partner Healthcare Index the past year

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

Amniotics AB (165%) (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.

Observe Medical ASA (39%) (Nordnet) conducts development of technical instruments used in intensive care. The products are sold under different brands and are especially specialized for urine measurement. In the past week, Observe Medical secured a large framework agreement for Unometer that can generate above 40 MNOK in annual revenues. In comparison, the market cap. is 66 MNOK. Read more here.

Nattaro Labs AB (33%) (Nordnet) s a Swedish research and development company focused on the control and elimination of bed bugs. The company is an international bedbug specialist with global collaborations in the remediation industry. The product range includes development and solutions to prevent and control bed bugs. Nattaro Labs is nanocap with a market cap. of just 9 MSEK.


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