Novartis reported negative data from its Phase III CANOPY-2 trial for canakinumab in 2nd/3rd-line NSCLC; canakinumab targets the same IL-1 pathway as CAN04, but in a more restricted way. This has triggered negative sentiment towards Cantargia’s share price. However, we note that the readout coincided with the ongoing correction in the European and US biotechnology subsectors as well as in the broader technology sector. Starting in mid-February 2021, the biotechnology indexes retreated by as much ....
06 Apr 2021
Cantargia - Sentiment affected, but fundamentals robust
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Cantargia - Sentiment affected, but fundamentals robust
Novartis reported negative data from its Phase III CANOPY-2 trial for canakinumab in 2nd/3rd-line NSCLC; canakinumab targets the same IL-1 pathway as CAN04, but in a more restricted way. This has triggered negative sentiment towards Cantargia’s share price. However, we note that the readout coincided with the ongoing correction in the European and US biotechnology subsectors as well as in the broader technology sector. Starting in mid-February 2021, the biotechnology indexes retreated by as much ....