SEB analyse: Fluoguide – Positive head-and-neck cancer data bode well for 2023 performance

At SEB’s Nordic Seminar, we spoke with CEO Morten Albrechtsen, who noted the exciting news from this morning that lead drug FG001 has now demonstrated an ability to delineate tumours in patients across three different cancer types, with head and neck the latest. We expect phase 2 data in H1/23 from FluoGuide across all three cancers, and it is highly likely to be positive, which seems well timed vis-a-vis a likely easing of the equities bear market.

Hard to exceed 100%, but FluoGuide has matched it in yet another cancer

FluoGuide announced that FG001 was detected in four of four patients undergoing head and neck cancer in the interim readout of its phase 2a trial. The tissue removed must still undergo pathology analysis to determine whether it is cancerous or healthy, but given that the surgeons testing it were primarily removing cancerous tissue by unassisted sight rather than definitively relying on FG001’s fluorescence, in our judgement it seems highly likely that success will be a matter of “by how much” rather than “if”.