Oryzon Genomics - First Phase II patient enrolled is clinical milestone

Oryzon Genomics has announced that it has enrolled the first patient into its collaborative Phase II trial investigating the use of its lead LSD1 inhibitor, iadademstat, in the treatment of relapsed and refractory (r/r) high-grade neuroendocrine carcinomas (NECs). The trial will be conducted in collaboration with the Fox Chase Cancer Center, a leading investigational cancer institute in the US, with Oryzon providing funding, iadademstat and technical advice. In our view, the first patient enrolment marks a significant clinical milestone for the study and begins iadademstat’s potential expansion into additional indications. We maintain our valuation of Oryzon at €847m or €15.5 per share. However, we will provide a further update in line with Oryzon’s full year results, which are expected in February 2023.