Redeye comments on Active Biotech's Q3 report. The phase II dose is now expected in Q1 2027 and the first efficacy data towards the end of 2027, after the first safety cohort in HOVON 172 MF saw one dose-limiting toxicity (DLT). In the US, the study is being moved into the MPN-RC network to speed up recruitment. Cash stood at SEK36m, with the company guiding a runway into Q4 2027. After reviewing our assumptions for both main projects and raising our WACC to reflect a higher risk-free rate, we lower our Fair Value to SEK20 (25). The Active Biotech share screens as "Cheap".
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