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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.NOK628.2m
Last closeNOK11.94
High / Low (52 weeks)NOK21.3 / NOK10.1
Stock market listingNO
Forecast net cash (NOKm)76.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual1.9(26.1)(34)
Relative *3.6(26.9)(44.2)

* % Relative to local index

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Investment summary

Targovax is an immuno-oncology (IO) company specialising in two distinct, but complementary immune activator approaches. Targovax’s core proposition is to use its products as immune response primers and combine with other anticancer therapies, such as checkpoint inhibitors, for increased efficacy. ONCOS-102 is a genetically engineered adenovirus being tested in advanced melanoma, mesothelioma, peritoneal malignancies and prostate cancer. One of the key catalysts this year is the Phase I melanoma trial with interim data due in H218. Targovax has also been developing two mutant RAS-specific neo-antigen vaccines from its TG platform for colorectal and pancreatic cancers. It recently announced a strategic decision to move away from developing TG01 for resected pancreatic cancer based on new data presented at ASCO, which suggested an almost two-year improvement in overall survival with FOLFIRINOX compared to gemcitabine.

Last updated on 29/06/2018

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 18/06/2018

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 29/06/2018

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