Private placement to support randomised Phase II trials
Update | 19 June 2019
BerGenBio has raised NOK74.2m in a private placement to advance its clinical pipeline, as it plans the late stage Phase II studies in acute myeloid leukaemia (AML) and non-small cell lung cancer (NSCLC) with bemcentinib. Promising efficacy signals have been seen during the current Phase II study in AML as a monotherapy, and the latest data continues to suggest that bemcentinib enhances the activity of LDAC chemotherapy. Similarly, the current Phase II trial in NSCLC with bemcentinib in combination with pembrolizumab (Merck’s Keytruda) suggests the two therapies act synergistically. Following the capital raise, we value BerGenBio at NOK3.21bn (NOK53.13/share).
|Year-end: December 31||2017||2018||2019E||2020E|
|Adj. PBT (NOKm)||(182.2)||(197.7)||(240.1)||(250.2)|
|Net Income (NOKm)||(182.2)||(197.7)||(240.1)||(250.2)|
|Adj. EPS (NOK)||(4.0)||(3.6)||(4.1)||(4.1)|
19 June 2019
|Shares in issue||60.4m|
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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