Edison ups Bionor Pharma NPV to 1 billion Norwegian kroner

14 August 2015

Edison Investment Research raised its net present value (NPV) estimates for Norway's Bionor Pharma (OSE: BIONOR) after the company updated its net cash position.

The broker in a research note raised its NPV estimates to 1 billion Norwegian kroner ($121.7 million) from 993 million kroner.

The broker said net cash of 55.5 million kroner at end June should be sufficient to fund operations into early 2016, beyond the next key data for Vacc-4x, the company’s HIV vaccine, expected in the second half of 2015.

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