Nordic Nanovector plummets as slow enrolment puts cancer drug trial into question

Thor Medical ASA

02/06/2022 11:26

** Nordic Nanovector  NANOVN.OL  plummets around 30% after
the Oslo-listed bio-technology company said it would conduct a
review of all aspects of its Phase 2b "PARADIGME" trial for
follicular lymphoma treatment, a type of cancer that develops in
specific cells of the immune system
    ** The company decided on the review after the
slower-than-expected recruitment of patients for the trial,
pointing to COVID-19 as cause  urn:newsml:reuters.com:*:nFWN2XO0T8
    ** Kempen analysts, who have previously highlighted the
importance of the trial for the company, say the news is not a
surprise, expecting the shares to take a "significant" hit yet
again, after the previous nearly 20% drop induced by Q1 results
which first showed the enrolments slowdown
    ** "We do appreciate the more drastic steps the company is
taking now for an elaborate review," the analysts say
    ** The shares, hitting their lowest price ever, head for
their worst day in over 2 years 
    ** The stock has dropped by about 67% YTD

 (Reporting by Marie Mannes)
 ((marie.mannes@thomsonreuters.com))