Västra Hamnen Corp. Finance

• Novel therapeutics addressing the GABAA receptor system in the CNS
• An exploratory phase II study in schizophrenia is ongoing
• We initiate coverage with a fair value of SEK 0.092 per share

Gabather is a drug developer in precision medicine targeting mental health disorders. By developing a specific GABAA receptor modulator in the central nervous system (CNS), the company engages in a new approach to a therapeutic area with great unmet medical need. The lead drug candidate, GT-002, is a potential first-in-class drug with solid clinical data from phase I studies. GT-002 is currently undergoing an exploratory phase II study in schizophrenia, the TOTEMS study, financed by Innovation Fund Denmark.
Gabather’s current market cap amounts to approximately MSEK 11. Despite acknowledging the development risk and recognising a substantial financial risk, we see a significant potential in the valuation given the market opportunity. The full report is available here.

Västra Hamnen initiates coverage of Gabather with a fair value of SEK 0.092 per share.