BRIEF—Mendus: Sights on vididencel in AML combination study

On the heels of Sweden-headquartered biotech Mendus’ recent first-quarter 2023 results, analysts at Edison say they have taken a deep dive into the company’s lead cancer vaccine candidate, vididencel, and the acute myeloid leukemia (AML) maintenance treatment landscape.

On closer inspection of the current AML pipeline and standard of care (SoC), vididencel’s clinical profile and the potential advantages associated with the vaccine’s ‘off-the-shelf’ characteristics may enable more timely and wider access of treatment to patients compared to individualised therapy approaches.

Additionally, they view the company’s move to prioritize a combination study of vididencel with AML maintenance SoC, Bristol Myers Squibb’s Onureg (oral azacitidine), as a sensible strategic decision.

Their valuation of Mendus remains unchanged at 1.8 billion Swedish kronor (~$170 million), or 9.19 kronor per share.