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Redeye provides a research update following the Q3 report published by Initiator Pharma earlier today. The company has managed to operate at a lower cash burn than we anticipated, boding well for the financial runway ahead. Furthermore, we are truly encouraged by the positive phase IIb topline results announced by the company during the quarter. We reiterate our recently raised fair value range with a base case valuation of SEK24 as we continue to have a positive outlook on the case.
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