LONDON, May 12, 2017 /PRNewswire/ --
Hybrigenics' main focus is the development of inecalcitol as a niche treatmentfor leukaemia. In February it presented encouraging initial results for inecalcitol in combination with oral imatinib in chronic myeloid leukaemia (CML), with 43% of patients responding in a Phase II study that will complete in H218. A Phase II trial
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Our DCF valuation is €141m or €3.9 per share, from €146m or €4.1 per share. The key change to our numbers relates to inecalcitol in CML, where we have increased the probability of success to 40% from 30% due to positive interim data; and to CLL, where we have reduced the probability of success to 20% from 30% as we await guidance on the development path. We have also updated our model for the FY16 net cash position of €8.5m.
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