ASCO: more supportive data for bemcentinib
Update | 5 June 2019
BerGenBio has presented further early Phase II proof-of-concept data at ASCO, which support bemcentinib’s potential in NSCLC and AML as a part of a combination regimen. Data in NSCLC shows that bemcentinib enhances pembrolizumab activity in patients with AXL-expressing tumours, particularly in PD-L1-negative tumours which do not normally respond to PD-1/PD-L1 monotherapy. In AML, combination with low dose chemotherapy in poor prognosis patients improves treatment outcomes. Safety data indicate that bemcentinib in combination is well-tolerated. Larger randomised Phase II studies are in planning; detail on these and additional clinical data is expected in H219. Ahead of this, we value BerGenBio at NOK3.14bn (NOK57.45/share).
|Year-end: December 31||2017||2018||2019E||2020E|
|Adj. PBT (NOKm)||(182.2)||(197.7)||(240.2)||(250.9)|
|Net Income (NOKm)||(182.2)||(197.7)||(240.2)||(250.9)|
|Adj. EPS (NOK)||(4.0)||(3.6)||(4.4)||(4.6)|
5 June 2019
|Shares in issue||54.9m|
BerGenBio is a clinical-stage, biopharmaceutical company based in Bergen, Norway and Oxford, UK. It is developing innovative therapies for aggressive cancers by way of inhibiting the AXL signalling pathway. The lead oncology compound, bemcentinib, is in multiple Phase II trials.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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