LONDON, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Quantum Genomics announced that it has enrolled the NEW-HOPE trial faster than expected, with data to come around mid-November (previously around the end of Q119). In our opinion, the faster enrolment rate is positive as this is an open-label trial and hence we suspect that results seen by physicians to date are encouraging. As a reminder, NEW-HOPE is a study of firibastat in 256 hypertensive overweight patients across 25 major US hospitals, with a primary endpoint of change from baseline in office systolic blood pressure (SBP) at week eight.
We have increased our valuation of Quantum Genomics from €207m or €18.45 per share to €281m or €23.46 per share, mainly due to an increase in the probability of success for firibastat for hypertension from 15% to 20% because of the much faster than expected pace of recruitment. This valuation increase was mitigated in part by a slightly larger number of shares outstanding. Otherwise, our financial forecasts are unchanged.
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