|Edison increases the valuation of Immunicum.|
"Immunicum’s updated results from the Phase II MERECA trial with ilixadencel delivered a positive surprise. The company was selected for an oral presentation at the ASCO-SITC Clinical Immuno-Oncology Symposium yesterday. The maturing data (24-month follow up) confirmed the separation of the Kaplan-Meier curves, which was projected in September 2019 at the time of the release of the final MERECA results (18-month follow up). In addition, Immunicum found that a stricter definition of tumour response, the confirmed objective response rate (ORR; vs best ORR), showed a clear difference between the active and control arms. We view these new data as positive, even though the statistical analysis is not available due to the relatively small number of patients. Our valuation has increased to SEK2.4bn or SEK25.8 per share (from SEK21.6 per share)."