Targovax (TRVX)

Business description

Targovax is an immuno-oncology company headquartered in Oslo, Norway, with two technology platforms that are being developed in a number of oncological indications. ONCOS-102 is an oncolytic virus technology. TG is a therapeutic cancer vaccine platform comprising of peptides mimicking the most common RAS oncogenic mutations.

Stock data

Market cap.NOK822.8m
Last closeNOK15.64
High / Low (52 weeks)NOK28.4 / NOK13.1
Stock market listingNO
Forecast net cash (NOKm)76.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(1.3)(15.9)(25.8)
Relative *(7.6)(17.5)(39.3)

* % Relative to local index

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Investment summary

Q417 saw the release of several reports indicating a good safety profile and consistent immune activation signs by ONCOS-102, an oncolytic virus for melanoma and mesothelioma, and TG02, a neo-antigen vaccine for colorectal cancer. 2018 catalysts include full two-year survival data from the pancreatic cancer trial (Phase I/II) with TG01 and interim data readouts from the melanoma (Phase I) and mesothelioma (Phase Ib/II) trials with ONCOS-102. Our valuation is marginally higher at NOK1.78bn or NOK33.8/share.

Last updated on 16/03/2018

Y/E Dec Revenue (NOKm) EBITDA (NOKm) PBT (NOKm) EPS (fd) (øre) P/E (x) P/CF (x)
2016A 0.0 (119.2) (122.7) (354.65) N/A N/A
2017A 0.0 (119.6) (122.3) (258.06) N/A N/A
2018E 0.0 (149.3) (147.5) (280.09) N/A N/A
2019E 0.0 (170.0) (170.3) (322.73) N/A N/A

Last updated on 16/03/2018

Latest video

Executive interview - Targovax

Industry outlook

Checkpoint inhibitors (CPIs) gained popularity over the past several years, however, a large proportion of patients do not respond to CPIs. Both Targovax’s platform technologies are designed to prime immune response to cancers, which offers synergies for use in combination with other immuno-oncology therapies.

Last updated on 02/03/2018

Key management

Øystein Soug, CEO
Erik Digman Wiklun, CFO
Renate Birkeli, Investor Relations

Company address

Lilleakerveien 2 C
Oslo
NO-0283 Os
Norway
+47 213 98 810
View website