OncoZenge Q2 - Financed for fully European phase III study

Redeye provides a research update following the Q2 report published by OncoZenge earlier today. The company continues to maintain a low OPEX and cash burn despite intensifying its preparations ahead of the upcoming phase III trial. With a strengthened financial outlook through a convertible loan from Linc, the receival of the initial tranches from the investment agreement with Yangtian and accelerated milestones payments, we argue that OncoZenge is on a promising trajectory. We reiterate our fair value range (SEK3.5 – SEK26) with a base case valuation of SEK11.5.

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