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Chordate: Migraine study finished
Research update Q3 2022
|2023-02-01
- Positive results from the migraine study PM007
- As a result of dilution from the rights issue, the valuation range is adjusted
- We adjust our valuation interval to SEK 1.46 - 2.17 (SEK 1.70 - 2.70) per share.
Chordate's report for the third quarter was characterized by positive study results from the migraine study (PM007). The results support the company's scientific evidence and the focus will now be on the company's commercial proof of concept. During the quarter, the company commenced a market introduction in Finland and participated in five international neurology congresses. We increase the probability of an exit, which in turn increases the value of the company, but due to dilution from the rights issue, the corresponding valuation range is reduced to SEK 1.46 - 2.17 from the previous SEK 1.70 – 2.70 per share.
Read our research update below. The research update is only available in Swedish.
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Tobias Karlsson
Analyst
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Johan Larsson
Analyst