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Hansa: Positive initial GBS results and additional savings - Redeye

Hansa adds positive 6m initial safety and early signs of efficacy in from the phase 2 GBS trial. We look forward to the 12m full follow up results from these 30 patients by, probably, mid-2024. If successful GBS is an Orphan indication with a premium price and the study include centers in France, Netherlands, and the UK. Recently Hansa has announced a 20% savings program, and we will make some further adjustment to our base case for the OPEX level going forward. The price on growth capital to cover OPEX ahead of break-even remains high and the saving program is understandable. We expect Hansa to achieve operational (EBITDA) break-even by late 2026 and this seems to be in line with the current market expectations. We expect a modest positive reaction, and our latest Base Case is SEK 100 (Bull SEK 200 and Bear SEK 15).

Hansa adds positive 6m initial safety and early signs of efficacy in from the phase 2 GBS trial. We look forward to the 12m full follow up results from these 30 patients by, probably, mid-2024. If successful GBS is an Orphan indication with a premium price and the study include centers in France, Netherlands, and the UK. Recently Hansa has announced a 20% savings program, and we will make some further adjustment to our base case for the OPEX level going forward. The price on growth capital to cover OPEX ahead of break-even remains high and the saving program is understandable. We expect Hansa to achieve operational (EBITDA) break-even by late 2026 and this seems to be in line with the current market expectations. We expect a modest positive reaction, and our latest Base Case is SEK 100 (Bull SEK 200 and Bear SEK 15).
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