Oryzon Genomics - Encouraging safety data in PORTICO

Oryzon Genomics has announced promising preliminary blinded aggregate safety data from its ongoing Phase IIb PORTICO trial at the 10th European Conference on Mental Health. The study is investigating the use of vafidemstat, the company’s lead asset in central nervous system (CNS) indications, for the treatment of borderline personality disorder (BPD). From the initial randomised 43 enrolled patients, no serious adverse events were reported, indicating that treatment was well tolerated. Additionally, following review by the independent data monitoring committee for PORTICO, the study received approval to continue. We see this as positive for the clinical development of vafidemstat, ensuring the trial remains on track to deliver interim readouts in Q123, representing the next major catalyst for the PORTICO trial. We continue to value Oryzon at €802m, or €15.1/share.