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    NANOV   NO0010597883

NORDIC NANOVECTOR ASA

(NANOV)
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Nordic Nanovector ASA Provides Update on Paradigme, Its Phase 2B Pivotal Trial with Betalutin« in R/R Follicular Lymphoma

08/03/2021 | 07:07pm EDT

Nordic Nanovector ASA provided an update on the timeline for PARADIGME, its ongoing pivotal Phase 2b trial of Betalutin® (177Lu lilotomab satetraxetan) in 3rd-line relapsed rituximab/anti-CD20 refractory follicular lymphoma (3L R/R FL). The Company, having reviewed the recent rate of patient recruitment in discussion with its clinical advisors and in light of the continuing impact from the COVID pandemic, now anticipates the preliminary three-month data readout from PARADIGME during the first half of 2022. While the changes to the PARADIGME protocol and initiatives implemented to improve execution of the trial have positively impacted recruitment, the ongoing COVID pandemic situation, exacerbated by the spread of the more infectious SARS-CoV-2 delta variant, continues to affect the Company's ability to screen, enrol and treat new patients. This is because the physical condition of the patient population targeted for this study means they are at the greatest risk from COVID-19 infection. As a result, the rate of patient recruitment has been slower than anticipated. The company continues to prioritise and commit all necessary resources to the completion of PARADIGME. As part of this prioritisation, the company has decided to close clinical sites at which enrolment has been particularly challenging and refocus resources on other initiatives; the trial remains open for enrolment at 85 sites. The Company's current cash position will support its operations into H2 2022. In addition, the Company confirms it will invest no further funds in its Archer-1 Phase 1b trial investigating Betalutin® in combination with rituximab in 2nd-line FL. The findings from this study, announced on 25 May 2021, will be important to inform the future development strategy for Betalutin® in 2L FL. The company is planning to host an R&D Day for analysts, investors and press in Fourth Quarter 2021. At the event, senior management and selected external speakers will discuss the positioning of Betalutin® as a potential new treatment for R/R FL and outline the strategy for its future development and commercialisation in this indication pending positive results. In addition, the Company will discuss its multiple opportunities to expand the market for Betalutin® and present other projects in its portfolio.


ę S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -408 M -47,3 M -47,3 M
Net cash 2021 185 M 21,4 M 21,4 M
P/E ratio 2021 -5,27x
Yield 2021 -
Capitalization 2 301 M 265 M 267 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 39
Free-Float 86,5%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 23,46 NOK
Average target price 27,25 NOK
Spread / Average Target 16,2%
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Managers and Directors
Malene Brondberg Chief Executive & Financial Officer
Jan Hendrik Egberts Chairman
Jostein Dahle Chief Scientific Officer
Reza Safaei Head-Medical Affairs
Lars Nieba Chief Technology Officer
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