15:19:41 Europe / Stockholm
2021-11-18 14:55:00
  • EMA decision on suPAR-guided anakinra treatment is delayed
  • POC+ product launch pushed into next year
  • We adjust our model slightly but keep valuation at DKK 115.00 – 180.00 per share

ViroGates’ revenues in Q3 came in somewhat below our estimate but the reported net loss differed only DKK 0.5 million from our forecast. Our main takeaway is that the events we had looked forward to this autumn are delayed but still likely to happen. EMA’s label extension that would validate suPAR guided anakinra treatment for severe COVID-19 cases was expected in October but is still pending. The launch of ViroGates’ new point-of-care device POC+ is also said to be delayed until H1 next year. This is unfortunate but does not materially affect our outlook. We reiterate our fair value interval of DKK 115 – 180 per share.

The full report is available here.