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Cereno Scientific (OMX: CRNO-B)

Last close As at 12/11/2024

SEK4.94

▲ −0.04 (−0.80%)

Market capitalisation

SEK1,389m

Based in Sweden, Cereno Scientific is focused on the development of innovative, effective and safe treatments for people with high unmet medical needs. Lead asset CS1, an HDAC inhibitor that acts as an epigenetic modulator, is currently being investigated in a Phase II clinical trial for the treatment of pulmonary arterial hypertension (PAH).

CVD encompasses various conditions implicated in the heart and blood vessels. Despite a growing repertoire of treatments, CVD is the most common cause of death worldwide. While rare, PAH is well-recognised and disease-modifying therapies remain the holy grail in this indication. IPF is also a rare, but aggressive condition; Cereno also aims to address this with a disease-modifying approach.

Latest Insights

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Healthcare | Flash note

Cereno Scientific — New SEK250m financing secures runway into 2026

Healthcare | Update

Cereno Scientific — CMD highlights a ‘rare’ portfolio refocus

Healthcare | edison tv

Cereno Scientific – executive interview

Healthcare | Update

Cereno Scientific — CS1 shines in Phase IIa PAH trial
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Sector

Healthcare

Equity Analyst

Arron Aatkar

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Eva Jagenheim

    CFO

  • Joakim Söderström

    Chairman

  • Sten Sörensen

    CEO

Balance Sheet

Forecast net cash (SEKm)

21.4

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (19.0) (19.9) 14.9
Relative (16.4) (20.9) (6.5)
52 week high/low SEK8.4/SEK3.6

Financials

Cereno is a clinical-stage biotech developing innovative, effective and safe treatments for indications with high unmet needs. Lead asset CS1 is an HDAC inhibitor with disease-modifying potential for PAH. Positive Phase II results were presented in September 2024, with the primary endpoint (safety and tolerability) met, and encouraging results on exploratory efficacy measures. Second asset CS014 is a HDAC inhibitor with epigenetic effects, being developed for IPF; Phase I studies began in Q224. IPF was selected as the initial target indication for CS014, in a strategic pivot to strengthen focus on rare diseases. CS585 is in the preclinical stages of development, for which a specific indication is yet to be determined. Based on Cereno’s burn rates and gross cash at hand of c SEK86m at end-Q224, we estimate a runway through Q125 and value it at SEK4.0bn (SEK14.3/share).

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2022A 57.5 (27.5) (27.6) (20.11) N/A N/A
2023A 49.3 (44.6) (46.4) (19.86) N/A N/A
2024E 79.6 (52.1) (58.9) (20.91) N/A N/A
2025E 87.1 (53.5) (56.0) (19.87) N/A N/A

edison tv

Healthcare

Cereno Scientific – executive interview

Initiation

Healthcare

Cereno Scientific — Differentiated approach in CVD with potential