Wealth increased by 600 million in minutes – E24

The rise in Bergenbio’s share price on Wednesday makes the shares of the largest and billionaire owner Trond Mohn worth much more. In just 20 minutes, the share price has increased the value of its shares by around half a trillion crowns.

Investor Bergen owns almost 28 percent of Bergenbio’s shares. At most, the value of their shares increased NOK 669 million during the morning. This is an unrealized gain, that is, paper values.

Bergen’s biographical share has more than doubled after a report that the company’s drug is selected for the corona study. Participation was at most 158 ​​percent.

The recovery then slowed somewhat, but the share still rose 99.05 percent at a price of NOK 41.7. Turnover is relatively high, and only three more shares were traded on the Oslo Stock Exchange on Wednesday morning.

Bergen’s bio share rose 52.47 percent before last day’s increase to a price of NOK 20.95. The company had a market value of NOK 1.5 billion. Market value has now increased to NOK 3 billion.

Crown-studio

Bergenbio announced Tuesday night that the biotech company’s bemcentinib drug has been selected as the first of three potential treatments to be dubbed “fast track” in a UK phase two clinical trial, called ACCORD (Accelerator Platform). for Research and Development COVID-19).

Their goal is to find an early indication of whether bemcentinib is effective in treating the most vulnerable patients with coronavirus disease, according to the company.

Arctic analyst Pål Falck says it is very good news for Bergenbio that bemcentinib has been selected as the first treatment to be included in the new ACCORD initiative in the UK.

– The rapid development and approval of new treatments for Covid-19 is particularly important in controlling the pandemic, the analyst writes in an email to E24.

Falck believes that Bemcentinib has an interesting starting point as the drug has already been shown to be well tolerated in many hundreds of patients.

– This allows the test to go directly to a phase 2 study and therefore significantly reduce development time.

“Therapy Cocktail”

The analyst notes that Bemcentinib is a capsule, which he believes makes its use much easier, compared to many other injectable alternatives.

– Since the drug has a unique mechanism of action, it may even be conceivable that it could be combined with other antiviral drugs and be part of a Covid-19 “cocktail treatment”, Falck believes.

Bergen bio-manager Richard Godfrey commented on the study that Bergenbio should include:

– It is an innovative collaboration between authorities, academia and industry. We hope that bemcentinib can play a key role in the global effort to find suitable treatment options for patients with Covid-19, which has very serious implications for so many people and therefore decreases pressure on intensive care units. from hospitals and ultimately thousands of patients

“We are ready to start dosing in the next few days and we will get results as soon as possible,” he said in the stock exchange announcement.

“It can be useful for treatment”

The study begins early and involves the evaluation of 120 subjects, of whom 60 are hospitalized patients with the coronavirus and 60 are a control group receiving standard treatment in six UK hospitals.

If Bergenbio achieves positive trial results, bemcentinib will soon proceed to phase three testing and marketing readiness to treat patients with a crown, according to the company.

“COVID-19 is the clinical disease that results from SARS-CoV-2 coronavirus infection and is responsible for the current COVID-19 pandemic. Preclinical data suggests that bemcentinib may be useful in treating early SARSCoV infection -2 ”, writes Bergenbio.

The study is funded by the Department for Health and Social Care (DHSC) and UK Research and Innovation (UKRI).

Bergenbio has a webcast on the update at 10 am Wednesday.