BerGenBio ASA
Recommendation: Buy · Target Price: NOK 80.0 (86.0) · Current Share Price: NOK 35.1
Well positioned for the next stage
The strong financial position provides funding for larger, potentially pivotal, studies next year. The UK initiative ACCORD for Covid-19 development was stopped, but BGBIO will sponsor a new study. Cancer is the core R&D effort and will have exciting read-outs in both lung- and blood cancer trials in the next six months. We reiterate BUY at NOK 80/share (86). The slight adjustment in TP is due to the new Covid-19 study costing additional time and resources.

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