Hei kjære alle VIP medlemmer og følgere hos Aksjeanalyser.com,

Ja i går kom altså Lytix Biopharma med sin Q3 2023 rapport, og her i dag kommer Redeye med sine kommentarer rundt rapporten.

Redeye.se gjentar i dag sitt ‘Base’ case target price for Lytix ved NOK 14.00. Bear case target price ved NOK 6.00 og Bull case target price ved NOK 26.00.

Les mer om Redeye sin oppdaterte sak etter Q3 2023 fra Lytix Biopharma nedenfor i saken her.

—————

Nå får du hele 40 prosent rabatt på 12 måneder VIP medlemskap hos Aksjeanalyser.com, og til en pris av KUN kr 5.988,- (og som tilsvarer KUN kr 499,-/mnd.). Les mer og bestill ditt VIP medlemskap her:

https://aksjeanalyser.com/medlemskap/

—————–

Her kan dere her lese en børsmelding fra 8.11.2023 rundt disse to konferanser som Lytix Biopharma (LYTIX) nå snart (den 13. og 23. november 2023) skal delta på i h.h.v. London og i Stockholm:

LYTIX: Lytix Biopharma presenting at major investor conferences in London and Stockholm in November

8.11.2023 12:00 • Oslo Børs •

Oslo, 8 November 2023. Lytix Biopharma AS (“Lytix”) (Euronext Growth Oslo:

LYTIX), a clinical stage immuno-oncology company, announces that Dr Øystein Rekdal, CEO, will deliver oral presentations to institutional investors in London at the LSX InvEUR$tival Showcase on the 13th of November, and attend the Jefferies Healthcare Conference on the 14th -16th November.

Investors interested in meeting should get in contact through the event partnering system or through the IR team.

Later in the month, on the 23rd of November, Dr Rekdal will give a presentation at the Redeye Life Science Day 2023 in Stockholm. There he will answer questions about the Company’s latest positive developments, in particular, the preliminary Phase II data recently presented at ESMO – into the use of LTX-315 for the treatment of advanced melanoma.

The Redeye event can be watched live via the website

https://www.redeye.se/events/915984/redeye-life-science-day-2023 and via a recording which will be made available afterwards.

Dr. Rekdal said: “We are looking forward to meeting with international investors at these conferences, to further raise awareness of the progress we have made with our unique approach to overcoming tumor heterogeneity by boosting a broad T-cell response. In particular, I am looking forward to presenting the encouraging preliminary clinical data that we announced at ESMO.”

—————

Her et utdrag av saken i dag fra Redeye etter Lytix sin Q3 2023 rapport som altså kom i går:

Lytix Q3 2023: Encouraging Readout of LTX-315

Research Update, 2023-11-10, 07:10

Redeye comments on Lytix’ third quarter results in 2023. In October, the first readout from the phase II trial of LTX-315 in combination with pembrolizumab was published at ESMO, with early signals of efficacy.

Oncolytic LTX-315 phase II

20 patients have been enrolled in the trial, with LTX-315 showing an excellent safety profile. Out of 14 patients available for an efficacy readout, five patients had stable disease and one had a partial response for a disease control rate of 43%. Immunotherapies often take some time to set in, so results might improve in future readouts and with more patients included. Topline data are expected in Q1 2024.
Verrica

The phase II trial in basal cell carcinoma has been accelerated and topline results are now expected in H2 2024. This will be an important catalyst. Based on the exceptionally strong readout from the first six patients, we believe there is a good chance of obtaining a positive final readout enabling the candidate to progress into a phase III study.
Base case restated (NOK14)

Although the first readout in melanoma was encouraging, we await more results before making any changes to the likelihood of approval for LTX-315 and its valuation. With a cash and cash equivalents position of cNOK80m, the company is funded into mid-2024 (Q2). In our model, we assume a cash injection of NOK100m before then, leading to some dilution and a base case of NOK14.

First-in-class candidates with partnering potential

Lytix is developing unique first-in-class oncolytic molecules with little competition in its class. The molecules are designed to be injected directly into the tumour.

An ongoing phase II of LTX-315 trial with melanoma patients who progressed after treatment with checkpoint inhibitors has recruited 20 patients who are given LTX-315 + pembrolizumab (a checkpoint inhibitor).

Lytix believes resistance is due to a lack of T-cells inside the tumour and that treatment with LTX-315 should increase the infiltration of T-cells.

An expansion cohort of around 20 additional patients will be recruited upon positive results, which would need financing. Strong results from 40 patients could set Lytix up for partnering discussions in 2025.

The company’s second candidate, LTX-401, is being prepared for a phase I trial, but additional funding is needed to finance it.

The cash position of ca NOK80m will fund the ongoing phase II study with 20 patients and will last into 2024.

Valuation

We make minor changes to our model. We add some additional dilution due to NOK100m being raised to finance the further development of the company (previously NOK80m).

Our bull case is NOK 24 while our bear case is NOK 6.

Base case restated (NOK14)

Although the first readout in melanoma was encouraging, we await more results before making any changes to the likelihood of approval for LTX-315 and its valuation. With a cash and cash equivalents position of cNOK80m, the company is funded into mid-2024 (Q2). In our model, we assume a cash injection of NOK100m before then, leading to some dilution and a base case of NOK14.

—————

Med vennlig hilsen,

Bjørn Inge Pettersen

Aksjeanalyser.com

Husk også å ha lest og forstått Disclaimer.