Intervacc: Market launch coming in Q4 - ABG

Strangvac receives approval – launch in Q4
Firm has started delivering Strangles diagnostic tests
Cash burn of SEK -7.6m and cash position of SEK 141m

Following the positive CVMP opinion on 16 June, Intervacc achieved a major milestone on 16 August when the European Commission granted marketing authorization for Strangvac. This is the first time a Swedish company has received approval for a veterinary vaccine through EMA regulatory procedure. This also marks the company entering a new phase that is focused on educating veterinarians and horse owners of the benefit of using Strangvac and ultimately driving sales of Strangvac. The launch, which will be handled by Dechra in Europe, excluding the Nordics and the Baltics, is expected to come in Q4, when it has finalised set up of production and distribution. Marketing authorisation has also been granted in Norway, as has a positive opinion from the UK Veterinary Medicines Directorate, which should lead to approval shortly. We expect announcements of access to more markets to continue in the near term. Much of the European data can be reused for applications in other regions, but approval in the US will require a local study.

Net sales in the quarter of SEK 1.8m (vs. SEK 1.6m in Q2’20) were slightly above last year, driven by the launches of distribution products. The company continues to invest resources in Strangvac, with EBIT of SEK -6.1m (SEK -5.8m). The cash burn in the quarter was SEK -7.6m and the company holds a strong cash position of SEK 141.3m.

Länk till analysen i sin helhet: https://www.introduce.se/foretag/intervacc/Equity-research/2021/9/intervacc---market-launch-coming-in-q4/