Vicore Pharma: A First POC in Covid-19
Redeye factors in a higher likelihood of approval in IPF and SSc-ILD, now 40% (30%), following a first POC for C21 in human. Also, we add the Covid-19 indication at a conservative SEK 7 per share, with scope for re-valuation as commercialization becomes increasingly realistic. Our new Base case is SEK 62 (48) per share.