Mendus (OMX: IMMU)

Last close As at 27/03/2024

SEK0.47

0.01 (2.17%)

Market capitalisation

SEK399m

Mendus is a clinical-stage immunoncology (IO) company based in Sweden and the Netherlands. The company specialises in allogeneic dendritic cell biology and currently has two lead, cell-based, off-the-shelf therapies for haematological and solid tumours.

IO is a frenetic pharmaceutical development area with many clinical combination studies being conducted by pharmaceutical and biotech companies. Investors should expect relatively rich newsflow from this subsector over the next few years.

Latest Insights

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Healthcare | Flash note

Mendus — Regulatory green light for CADENCE trial

Healthcare | Flash note

Mendus — Stars align for CADENCE combination trial

Healthcare | Update

Mendus — Potential disruptor to AML maintenance setting

Healthcare | edison tv

Executive interview with Erik Manting PhD, CEO of Mendus

Mendus_resized

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Alex Karlsson-Parra

    CSO

  • Erik Manting

    CEO

  • Jeroen Rovers

    CMO

  • Leopold Bertea

    CTO

  • Lotta Ferm

    CFO

Balance Sheet

Forecast net cash (SEKm)

102.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (5.2) (21.3) (63.0)
Relative (9.7) (26.2) (69.3)
52 week high/low SEK1.7/SEK0.3

Financials

The Human Research Ethics Committee (HREC) has provided the green light to commence enrolment for Mendus’s AMLM22-CADENCE trial from April 2024. This Phase II trial in collaboration with the Australasian Leukaemia and Lymphoma Group, a clinical trial research group focused on haematological cancers, will evaluate lead cancer vaccine vididencel, in combination with standard of care oral azacitidine (Onureg) as a maintenance treatment for acute myeloid leukaemia (AML). A pivotal global registrational trial is planned from H225 with safety data from the AMLM22-CADENCE trial to be used for in the registration dossier. We view the latest update as a positive indicator that this programme is progressing as planned and believe that the launch of AMLM22-CADENCE will represent a key milestone.

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (fd) (öre) P/E (x) P/CF (x)
2022A 3.4 (12.9) (1.4) (69.6) N/A N/A
2023A 29.6 (9.0) (1.0) (22.0) N/A N/A
2024E 0.0 (11.9) (1.2) (14.1) N/A N/A
2025E 0.0 (12.3) (1.3) (14.6) N/A N/A

Research

edison tv

Healthcare

Executive interview with Erik Manting PhD, CEO of Mendus

Mendus_resized

Flash note

Healthcare

Mendus — Poised for an active 2024

Mendus_resized

Update

Healthcare

Mendus — Pursuit of a durable response in AML

Mendus_resized

Flash note

Healthcare

Mendus — Phase II combination to progress lead asset

edison tv

Healthcare

Mendus – executive interview

Mendus_resized

Update

Healthcare

Mendus — Guarding against relapse

Mendus_resized

Flash note

Healthcare

Mendus — ADVANCE II at ASH may be a near-term catalyst

Mendus_resized

Flash note

Healthcare

Mendus — Vididencel secures Fast Track designation in AML

Thematics

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