Mon, 10 Aug 2020

Edison issues update on Quantum Genomics (ALQGC)

08 Oct 2019, 19:13 GMT+10

LONDON, UK / ACCESSWIRE / October 8, 2019 / The company recently reported positive feedback from the FDA for its Phase III programme design for firibastat. There will be two studies required for approval: one focused on efficacy and one on safety. The efficacy study, QGC001/3QG1, will be a three-month 500-patient study comparing firibastat to placebo in difficult-to-treat or resistant hypertension patients who are already on treatments from two or three anti-hypertensive classes. Enrolment is expected to begin by the end of this year with data in H221. The safety study will enrol 750 patients, with 650 staying on the drug for six months and 100 staying on it for a year.

We have increased our valuation from €860m or €51.76 per share to €909m or €53.01 per share mainly due to rolling forward our NPV. It was partially offset by a lower net cash balance and a slightly higher number of shares outstanding. Quantum had €11.6m in cash and investments at the end of H119. It has an additional €5.8m available through its equity line of credit with Kepler Cheuvreux.

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