London, UK, 15 October 2021

RhoVac (RHOVAC): Phase IIb BRaVac study results in H122

After months of industry-wide turbulence due to the COVID-19 pandemic, RhoVac has emerged with a flurry of positive news. In July 2021, the Safety Monitoring Committee gave the green light to continue the lead Phase IIb trial investigating the RV001 cancer vaccine in prostate cancer patients. Patient recruitment was finalised in September 2021, which means the trial is now in its final months, with top-line data expected in H122. Most recently, RhoVac announced that it had retained an international investment bank to prepare for a potential transaction or partnership deal if the data are positive, a strategy which management has consistently communicated since the start of the trial. Our valuation is higher at SEK1.62bn or SEK84.9/share (versus SEK68.5/share previously), mainly due to an increased probability of success.

Our  RhoVac valuation is higher at SEK1.62bn or SEK84.9/share due to increased success probability and rolling the model forward, which was partially offset by a lower cash position (SEK58.0m at end-H121). We increase our probability of success to 20% from 15%. This is based on the Safety Monitoring Committee successfully completing its review in July 2021 and the fact that the trial is now fully recruited. So, at least from a safety and execution perspective, the risk has been resolved. A positive outcome from the BRaVac trial would lead us to increase the probability further to at least 40%.

Click here to view the full report or here to sign up to receive research as it is published.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Jonas Peciulis +44 (0)20 3077 5728 healthcare@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        www.linkedin.com/company/edison-group-/

Twitter           www.twitter.com/Edison_Inv_Res

YouTube       www.youtube.com/edisonitv