Edison issues update on Quantum Genomics (ALQGC)

LONDON, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Quantum Genomics (ALQGC) released data from the Phase IIb NEW-HOPE trial, which strongly suggests that firibistat is an efficacious, safe drug with a differentiated mechanism that will address a very large patient population. After eight weeks of treatment, patients saw a statistically significant reduction from baseline (p<0.0001) in systolic automated office blood pressure (AOBP) of 9.7mmHg. Importantly there was no oedema that was seen with some of the other major classes of hypertension treatments.

We have increased our valuation of Quantum Genomics from €284m or €23.71 per share to €803m or €66.91 per share, mainly due to increasing our probability of success for firibastat in hypertension from 20% to 50% due to the NEW-HOPE trial data. We also increased the probability of success in heart failure from 15% to 20% due to the innocuous safety profile so far. The probability of success for hypertension remains at a discount to where it would normally be as the company will require a partner to advance firibastat to approval.

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