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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