Tue, 07 Jul 2020

Edison issues update on Abliva (NVP)

ACCESSWIRE
26 Jun 2020, 22:02 GMT+10

LONDON, UK / ACCESSWIRE / June 26, 2020 / The rights issue announced on 19 February 2020 is now complete with 90% of the total amount of offered shares subscribed raising a total SEK67m. A positive surprise was the announcement that Nordic life sciences investor Hadean Ventures also decided to invest via a direct private placement of SEK20m. This brings the total amount of new funds to SEK87m gross, which will primarily fund the development of the two core assets for primary mitochondrial diseases (PMD): KL1333, a small molecule NAD+ modulator, and NV354, a succinate prodrug. The most significant share price catalyst in the near term is the KL1333 Phase Ia/b results from the final part of the study, which should start enrolling PMD patients in H220. Our valuation is SEK1.76bn or SEK5.93 per share.

After rolling our model forward, our risk-adjusted NPV valuation of Abliva is SEK1.76bn or SEK5.93 per share compared to SEK1.72bn or SEK6.40 per share previously. The technical decrease in valuation per share is due to the addition of the new shares. The most significant share price catalyst in the near term is the KL1333 Phase Ia/b results from the final part of the study.

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About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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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) 203 077 5728
healthcare@edisongroup.cpm

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SOURCE: Edison Investment Research Limited



View source version on accesswire.com:
https://www.accesswire.com/595334/Edison-issues-update-on-Abliva-NVP

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