Vicore share issue was in big demand. Most investors got zero allocations. The stock was allocated mainly to major specialist pharma investors from the USD and Europe and selected existing investors. The issue was placed close to market price. Strong rubber stamp on the investment case. Vicore +15% today.
We are bullish Vicore. Our family office got allocation in the share issue.
Pareto and Carnegie raised 500 million SEK for Vicore last night.
The issue was placed at 1% discount to the closing price. That is big success – in these markets companies raise at 10-20% discount to closing prices. The stock has been slipping last two weeks as investors were concerned about the capital raise. That is now resolved.
The issue was backed by specialist investors from the US and EU. US healthcare specialists such as OrbiMed and Suvretta, invested in the round while existing ones such as HBM (Switzerland) participated.
We heard that the issue was very tightly allocated – most investors got zero allocation. Less than 20 investors bought the whole 500 million SEK issue. Very positive for the case. The stock is 15% up this morning.
The share issue’s core intention is to finance the next larger step, a 52-week phase2b trial in all-comers idiopathic pulmonary fibrosis (IPF) patients.
Full investment thesis is below:
https://fitinvestmentideas.com/2023/05/23/vicore-first-drug-that-cures-ipf-trading-at-1-7-of-its-peer-with-worse-results/
The latest presentation by the company:
https://stream.brrmedia.co.uk/broadcast/645cb5017935152b5ae742f1
Disclosure:
The goal of the blog is to provide investment ideas for further research. I/we have a beneficial position in the shares discussed above either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. The article does not represent investment advice. Please do your own research before making any investment action.
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