Nanexa: Raising our LOAs following a review of the projects - Emergers

With the dust settling after the recent rights issue, Nanexa now progresses with its more focused roadmap, concentrating on Phase I trials with NEX-22 in Q1’24, preparation for Phase Ib trials with NEX-20, and the partner projects. With a cash position of SEK 84m, there is a financial runway through 2024, but also a higher pressure to reach a licensing agreement soon. Following a revision of the projects, we’ve increased our Likelihood of Approvals (LOA) for NEX-20 and NEX-22 to 20% and 15% respectively (up from 9.2% and 7.5%). This, coupled with a wide range of possible outcomes for the company’s projects, supports a high potential relative to the current share price. We now look forward to the Phase I trial with NEX-22 and more positive news flow from the partner projects as triggers in 2024, and expect that the worldwide GLP-1 story will start to gain traction also for the Nanexa share soon.

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