Redeye provides a research update following the Q2 report recently published by Initiator Pharma. Overall, we view the Q2 financials as broadly in line with expectations. Costs remain close to our estimates, cash utilization was better than anticipated due to timing effects, and the financial position remains sufficient to reach the key clinical readout. With the phase IIa study in vulvodynia progressing according to plan, we anticipate topline results later this year. Following Redeye's new valuation approach, which factors in both fundamental valuation and relative valuation, we assign Initiator Pharma a new fair value of SEK6 per share.
LÄS MER
