Scandion Oncology has announced that the first patient in part 3 of the Phase II CORIST trial has been dosed. The CORIST development programme is investigating the use of the company’s chemotherapy add-on, SCO-101, in combination with FOLFIRI in metastatic colorectal cancer (mCRC). Importantly, part 3 will expand the patient population to include those harbouring RAS mutations (c 50% of patients) and will investigate optimised dosing schedules based on findings from CORIST part 2. The initiation of part 3 is on schedule with management’s communicated timelines and is expected to report top-line results in Q323. After part 2 top-line results failed to provide proof-of-concept for the SCO-101/FOLFIRI combination, we believe secondary efficacy endpoints from part 3 will be important in establishing SCO-101’s clinical utility. We value Scandion Oncology at SEK279.0m or SEK6.9 per share.
