Redeye provides a research update following the Q1 report published by OncoZenge earlier today. The report was largely in line with our expectations, aside from a deviation in the cash flow metrics stemming from a negative change in working capital. Importantly, in correlation with the report, the company announced that the CTA for the pivotal Phase III study has now received final approval, enabling study initiation. We reiterate our fair value range (SEK3.5 – SEK26) with a base case valuation of SEK11.5.
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