Scandion Oncology has announced the extension of dose-escalation in the Phase Ib PANTAX trial, investigating the company’s add-on chemotherapy, SCO-101, in the treatment of metastatic pancreatic cancer (mPC). The observation of better-than-expected tolerability in patients has led Scandion to now pursue higher dosing than previously expected. As a result, top-line data from PANTAX are now expected in H123 (previously Q222). We view this as a positive development for Scandion, as the primary endpoints for the PANTAX trial are safety and tolerability. Additionally, if proof-of-concept data from the Phase II CORIST study in metastatic colorectal cancer (expected Q322) prove positive, this should provide encouragement for the survival and response rate based secondary endpoints of PANTAX, in our view. We value Scandion Oncology at SEK586.5m or SEK18.3 per share.
