Ryvu Therapeutics - Diversified pipeline ensures continued newsflow

In our March 2020 report, we highlighted that Ryvu, now a pure-play biotech with a diversified R&D pipeline, is funded into 2021, which positions it well to weather the COVID-19 pandemic. Ryvu’s shares underwent a period of volatility during the initial stages of the pandemic, but are now trading at an all-time high after the corporate split in October 2019. Although the full extent of the COVID-19 impact is not yet known, Ryvu described the measures it has undertaken in its FY19 annual report in detail. Ryvu also gave a comprehensive update on its steady R&D progress across all projects. Our valuation is marginally higher at PLN1.10bn or PLN68.9/share (vs PLN67.4/share previously).