Onxeo - Expanding AsiDNA R&D programme

Currently, Onxeo is running a triple combination Phase Ib study (n=6; AsiDNA plus carboplatin plus paclitaxel). Top line results should be available by end-2020, subject to the COVID-19 pandemic impact. A major expansion of the R&D programme is the new Phase Ib/II REVOCAN trial. This new study will evaluate AsiDNA’s potentially unique ability to reverse tumour resistance to the PARP inhibitor, niraparib. First data are expected by the end of 2020 or early-2021. The outcomes of these studies will define AsiDNA’s mid- to late-stage development, so they represent substantial catalysts for the share price. Newly released preclinical data suggest that AsiDNA could also abrogate resistance to tyrosine kinase inhibitors (TKIs), which could significantly broaden its applications. Our valuation is €134m or €2.00 per share.