Original-Research: Vidac Pharma Holding Plc - from Sphene Capital GmbH 20.11.2024 / 09:15 CET / CEST Dissemination of a Research, transmitted by EQS News - a service of EQS Group AG.

Original-Research: Vidac Pharma Holding Plc (von Sphene Capital GmbH): Buy

Original-Research: Vidac Pharma Holding Plc - from Sphene Capital GmbH

20.11.2024 / 09:15 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.

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Classification of Sphene Capital GmbH to Vidac Pharma Holding Plc

     Company Name:                Vidac Pharma Holding Plc
     ISIN:                        GB00BM9XQ619

     Reason for the research:     Update Report
     Recommendation:              Buy
     from:                        20.11.2024
     Target price:                EUR 4.90 (unchanged)
     Target price on sight of:    36 months
     Last rating change:          -
     Analyst:                     Peter Thilo Hasler

Important patent protection granted by the USPTO

The positive news flow of Vidac Pharma continues. Vidac Pharma has been
granted a patent by the USPTO that-in our view-fully protects the company's
efforts to bring its entirely new class of cancer products to market. As of
our knowledge, Vidac Pharma is the only company in the world whose products
are aimed at reversing the altered metabolism of cancer cells (known as
Warburg effect), and now holds an exclusive patent for this promising mode
of action in the US market. After the strong share price performance since
our initiation of coverage (+194.4% vs. DAX 2.4%), we confirm our Buy rating
and our three-stage discounted cash flow entity model based share price
target of EUR 4.90 (base case scenario). Our price target is based on the
assumption that Vidac Pharma receives approval for its current core product
VDA-1102-AK. Monte Carlo scenario values range between EUR 4.04 (10%
quantile) and EUR 5.40 (90% quantile) per share.

Vidac Pharma has been granted a broad and exclusive patent by the United
States Patent and Trademark Office (USPTO) that provides comprehensive
protection for the mode of action of its two oncology and onco-dermatology
therapeutic candidates VDA-1275 and VDA-1102 (phase 2b clinical trial for AK
and phase 2 trial for cutaneous T-cell lymphoma). The patent protects the
use of Vidac Pharma's novel chemical entities that prevent the enzyme
hexokinase-2 (HK2) from attaching to the mitochondrial VDAC channels, in
order to reverse the malignant metabolism of cancer cells and to restore
normal cell functioning-as of Vidac's clinical studies the drug candidates
have the potential to stop cancer cell proliferation, re-instate programmed
cell death (apoptosis), and suppress the immunosuppressive properties of the
tumour microenvironment. Vidac Pharma is thus (1) to our knowledge the only
company in the world with products designed to reverse the altered
metabolism of cancer cells and (2) now holds an exclusive patent for this
mode of action in the US market.

Vidac Pharma also received additional capital of more than EUR 0.6mn from
existing investors and management to accelerate the development of its
products. Vidac Pharma will use the funds to advance a number of clinical
trials, including a second phase 2b clinical trial for its lead candidate
VDA-1102 in patients with advanced actinic keratosis (AK), a potentially
premalignant disease of the skin with high estimated global prevalence.
According to the company, VDA-1102 has also been shown to be safe and
effective in the treatment of cutaneous T-cell lymphoma; Vidac Pharma has
completed a phase 2a proof-of-concept study, the results of which are
expected to be published shortly. VDA-1275, meanwhile, is also in advanced
preclinical studies.



You can download the research here: http://www.more-ir.de/d/31381.pdf

Contact for questions:
Peter Thilo Hasler, CEFA
[phone]

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2034157 20.11.2024 CET/CEST