Over the past few weeks, Cantargia has presented positive interim data from the ongoing CANFOUR trial, which has significantly strengthened our conviction in a successful outcome of ph IIa. The full readout is expected within the coming months, but the company has, on the back of the recent findings, already started planning to advance the development of CAN04 in both NSCLC and PDAC. During Q4, we expect Novartis to present data from its ongoing ph III trial for Canakinumab, which will provide further insight into targeting the IL-1 system for cancer treatment. We increase our DCF-based fair value range to SEK 48-54 (24-27) per share and see several valuation triggers ahead. Marketing material commissioned by Cantargia.
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