Yesterday, November 5, Chordate's CEO, Anders Weilandt, presented the company’s Q3 report for 2024 on Finwire TV. He also answered viewer questions, discussing topics such as the ongoing exit process and the two current studies, PM009 and PM010.
“It’s essential that we enter this exit process with a strong cash position. I don’t think any shareholder wants us to sit down and negotiate the sale of the business with a weak cash position, as that will immediately affect the counterparty’s behavior in the negotiation. So now it’s crucial that we strengthen our finances and are well-prepared to carry out the entire exit process.”
What are the key milestones in PM009 and PM010, and how might they impact valuation in the exit process?
“Both studies have the potential to significantly impact the sales process. PM009 aims to determine if there are indications that Ozilia is effective for patients who have no other options. Those who have started CGRP treatment have exhausted several other preventative drugs without success. If we can identify patients who respond to Ozilia, it will be an interesting finding, as it would suggest that we are as effective or better for these patients than the highly advanced and expensive drugs available.”
“PM010 is long-term and important for that very reason. It provides a much longer and broader understanding of Ozilia's effect pattern and how frequently patients would want treatment. The results will guide doctors on what to expect regarding patient behavior and the necessary treatment frequency. This impacts the volume per patient and, essentially, billing potential. So, it clearly affects a sales process.”
Watch the full interview (in Swedish)
