Vicore Pharma today announced positive results of their Covid drug Phase 2 study. I enclosed below a summary from Pareto Research published today.
We are long Vicore Pharma. The company is now recruiting for its COVID-19 phase 3 trial is now recruiting in 14 hospitals globally. Vicore is showing steady progress while continuing to be fairly hidden/unknown and
trade at a strong discount in our view, even when considering solely its potential in idiopathic pulmonary fibrosis (IPF).
From our Scandinavian Pharma portfolio we have positions in Biovica, Bioinvent, Vicore and Ascelia. We have exited this year from Xbrane with above 100% return over 6 months period. We will be reentering the Xbrane trade after the share price declines further, as the company is now facing a year process to gain FDA approval. Our current top pharma position are Biovica and Bioinvent. I wrote here several times about Biovica, I will publish Bioinvent within the next days.
Pareto take on Vicore Phase 2 annaouncement:
|Positive COVID-19 phase 2 long-term data|
|Vicore Pharma today announced phase 2 clinical data from the COVID-19 long-term follow-up study. The study followed 33 hospitalized COVID-19 patients (from the phase 2 ATTRACT trial) requiring supplemental oxygen at the time of enrollment for 3-6 months (but have not progressed to mechanical ventilation at the time of enrollment). Patients’ lungs were assessed with CT scans with the major radiological change observed being “opaque area / hazy opacification” of the lung, dubbed ground-glass opacity. The patients treated with Vicore’s drug, C21 (VP01), showed a nearly 50% lower occurrence of such pathological abnormalities (10.3% affected) compared to placebo (19.2% affected). Considering the strong phase 2 data on clinical parameters (reduction in need for supplemental oxygenation) and other data bits such as the IPF lung transplant data of 2020, the regenerative biology activated by the first-in-class angiotensin type 2 receptor agonist C21 gained further validation today. Vicore’s lead drug continues to impress and look like it could become a potential blockbuster drug within the “drug graveyard” of fibrotic lung diseases and possibly beyond. We therefore reiterate our Buy recommendation and target price of SEK 97 per share.|
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