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Research

Ascelia Pharma (One-pager): Progressing according to plan

By Philip CoombesEquity Research Analyst
Ascelia Pharma
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The company has successfully conducted a rights issue raising gross proceeds of SEK 105m, which strengthens its balance sheet and improves the company’s negotiation power with potential partners. Combined with its TO 1 warrants, to be exercised in April 2025, the company is fully financed until end-2025, excluding potential additional partnership milestones. Since the latest rights issue was announced on 10 June 2024, the share price has retreated 78%, reflecting that the market implicitly assumes there is just over 30% probability of success (PoS) for approval and successful launch of Orviglance in the base case scenario. See page 2-3 for further discussions of the model and results.

There are currently no competitors and given its niche market, addressing only around 4% of patients, the market will likely remain competition-free during the 7-year FDA regulatory exclusivity period, suggesting that profitability will be higher for longer. Also, a partner-based commercialization strategy will reduce the funding requirement and support commercial launch around early 2026.

Disclaimer: HC Andersen Capital receives payment from Ascelia Pharma for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 3:50 PM 21-10-2024.

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Ascelia Pharma is a Swedish biotech company with a focus on orphan oncology treatments. They develop and commercialize novel drugs that address unmet medical needs and have a clear development and market pathway. Currently, Ascelia pharma has two pipeline products, namely Orviglance and Oncoral. Orviglance is a novel contrast agent for MR-Imaging developed to improve the detecting and visualization of focal liver lesions (Including liver metastases – and primary tumors) in patients with reduced kidney function. Oncoral is a daily tablet with an established potent anti-tumor effect – even in difficult to treat cancers with the potential to offer better patient outcomes with improved safety following a daily tablet treatment compared to intravenous high-dose infusions at the hospital. Ascelia Pharma is listed on Nasdaq Small Cap Stockholm with ticker ACE.

Read more on company page

Forum discussions

Like many other companies in the biotech sector, Ascelia has experienced total capitulation in its share price. However, it should be noted ...
2/13/2026, 10:37 AM
by Hawkmountdiver
1
Let’s open a thread for this one too. Ascelia is a company from Sweden specializing in cancer diagnostics and treatment. Company page: Ascelia...
5/4/2022, 3:32 PM
by Yu Gong
11
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