Targovax - ONCOS-102 plus durvalumab trial in spotlight

Targovax has announced that one of the trials with ONCOS-102, which is sponsored by Ludwig Institute for Cancer Research, will be in the spotlight at this year's ASCO meeting. This is an open-label Phase I/II trial that is exploring the combination of intraperitoneally delivered ONCOS-102 and systemically administered checkpoint inhibitor durvalumab (anti-PD-L1, Imfinzi, AstraZeneca) in patients with ovarian or colorectal cancers metastasised to the peritoneum. An abstract from the dose-escalation part of the trial will be presented at ASCO. Although Targovax is not sponsoring the trial, this may become a new opportunity for the company. Targovax's two lead trials with ONCOS-102 in melanoma and mesothelioma are on track to deliver data later this year. Our valuation is virtually unchanged at NOK1.52bn or NOK20.0 per share.