Mendus: Gross proceeds of c SEK69m to advance pipeline - Edison

Mendus has reported gross proceeds of c SEK69.1m from the exercise of series TO3 warrants that were issued in connection with the July 2023 raise of SEK317m. Management anticipates that these proceeds will extend the cash runway to Q325 and will be applied to progress its clinical pipeline, mainly in preparation for a registrational trial for lead cancer vaccine vididencel, targeting acute myeloid leukaemia (AML) in the maintenance setting. Management expects the registrational study to commence in H225. In light of the challenging macroenvironment, we view this raise as a positive development for Mendus as it should also support operations as the company progresses through the AMLM22-CADENCE trial, which is anticipated to start patient recruitment this month.

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Länk till analysen i sin helhet: https://www.edisoninvestmentresearch.com/research/report/mendus356244/preview