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Redeye comments on Cereno Scientific’s Q2 2023 report. A refilled cash position enables full focus on completing the ongoing clinical phase II trial with CS1 in PAH. Although the company may communicate positive efficacy data on more than half of the study population in Q4 2023, we argue that there still are some obstacles to manoeuvre before any sustainable positive momentum in the share is experienced. We make minor adjustments to our base case.
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