Vator Securities: Ascelia Pharma: A delay. Fundamentals for Mangoral remain unchanged.
Ascelia Pharma’s announcement of a three to six-month delay of the ongoing pivotal phase III SPARKLE study is not surprising given the circumstances with the ongoing covid-19 pandemic and its impact on clinical trials. While the delay does not affect our view of the commercial prospects of Ascelia’s lead project, we adjust our financial forecast in accordance with the new timeline. Provided that the company generates topline data in H2 2021, instead of in H1 2021, we expect filing to the FDA and EMA in late 2021/ early 2022 followed by approval in 2022 and launch in early 2023.In our
