Oryzon Genomics - More data support vafidemstat for aggression

On 3 April 2020, Oryzon reported interim data for the first time from its two Phase IIa trials REIMAGINE-AD and ETHERAL. Both explore the company’s lead CNS asset vafidemstat (CNS-optimised LSD1 inhibitor) in Alzheimer’s disease (AD) patients, but in different disease subgroups and for different purposes. The REIMAGINE-AD study is focused on vafidemstat’s potential to control agitation and aggression seen in moderate to severe AD patients. The reported data was positive and echoed the findings from the other patient cohorts in the original REIMAGINE trial reported last year. Data from the ETHERAL trial are preliminary with interesting biomarker findings, but the clinical effect on patient cognition was not seen yet after six months of treatment (12-month treatment data should be available in Q221). Our valuation is marginally higher at €470m or €10.3 per share.