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Analyst Comment

Herantis' latest analysis reveals HER-096's activity in central nervous system

By Antti SiltanenAnalyst
Herantis Pharma

Translation: Original published in Finnish on 1/8/2026 at 7:37 am EET.

On Wednesday evening, Herantis Pharma published a press release regarding the biomarker analysis of its Phase Ib trial. According to the results, the HER-096 drug candidate affects Parkinson's disease-relevant biological pathways in the central nervous system. These positive results support advancing drug development to preliminary efficacy studies (Phase II clinical trial), assist in planning the Phase II trial, and contribute to the company's partnership negotiations for financing future research. A briefing on the results will be held today at 12:00 p.m. EET and can be viewed here. For now, we don't expect the results to affect our forecasts since we already considered progress toward the next stage quite likely.

Marker data indicates drug's biological activity in central nervous system

Herantis Pharma announced on Wednesday biomarker results collected in the Phase Ib clinical trial of the HER-096 drug candidate. The randomized, blinded study design showed a biological response in patients with Parkinson's disease. HER-096 caused changes in biological pathways in the central nervous system that are relevant to the disease, such as proteostasis, mitochondrial function and neuroinflammation. According to the company, the findings are consistent with previous preclinical studies and the expected mechanism of action of the drug candidate. The study analyzed more than 2.5 million data points, and the findings were consistent across different analytical methods.

Previous safety data reinforced by results

The newly published results complement the main results of Phase Ib, reported in October 2025, which found that HER-096 was safe and well tolerated. The candidate also crossed the blood-brain barrier, reaching its target in the central nervous system. These new results suggest that the candidate also has a biological effect in the central nervous system. However, based on these results, no conclusions can be drawn yet regarding therapeutic effects on Parkinson's disease. The results are an important step in drug development, as animal model results are rarely directly replicated in humans.

Support for further development and partnership negotiations

The results support Herantis' plans to proceed to a Phase II clinical trial, scheduled to begin in 2026. The results can also be used to plan the next study phase. These latest results may be helpful in ongoing partnership negotiations, as they provide potential pharmaceutical partners with concrete evidence of the drug candidate's mechanism of action.<

Herantis Pharma Plc is a clinical-stage biotechnology company developing disease modifying therapies for Parkinson’s disease. Herantis’ lead product HER-096 is a small synthetic chemical peptidomimetic molecule developed based on the active site of the CDNF protein. HER-096 combines the mechanism of action of CDNF with subcutaneous administration. The Phase 1a clinical trial demonstrated a good safety and tolerability profile as well as blood-brain barrier penetration of subcutaneously administered HER-096. The shares of Herantis are listed on the Nasdaq First North Growth Market Finland.

Read more on company page

Key Estimate Figures2025-11-20

202425e26e
Revenue0.00.00.0
growth-%150.0 %
EBIT (adj.)-5.0-5.5-5.9
EBIT-% (adj.)-50,270.0 %-55,119.0 %-59,321.2 %
EPS (adj.)-0.25-0.25-0.25
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

Forum discussions

Thank you. This trend may also have some impact on the future of the drug development companies discussed on this forum.
1/27/2026, 5:21 AM
by Timo Rousi
3
Investors expect a surge in deal activity in 2026 as drug makers look to replenish pipelines and capitalize on low interest rates.
1/26/2026, 10:13 PM
by Oxymoron 007
4
Behind a paywall. Interesting theme, pharmaceutical company patent cliff, general considerations too? A timely topic, for example, also from...
1/26/2026, 11:46 AM
by Timo Rousi
2
Both seem to require a login. xxxxxxxxxxxxxxxxxxxxxxxx
1/26/2026, 10:18 AM
by AlterEgo
0
Gift article by Barrons https://www.barrons.com/articles/abbvie-dodged-a-patent-disaster-and-shares-gained-460-merck-and-bristol-myers-are-next...
1/25/2026, 7:59 PM
by Oxymoron 007
1
Herantis now has a very substantial dataset at its disposal regarding these biomarkers, and its more detailed analysis will take some time. ...
1/9/2026, 8:42 AM
by jerej
18
Looking at that webcast starting from 38:20, the CFO is certainly struggling to hold back a smile. I wonder if they’re just happy that the webinar...
1/9/2026, 8:16 AM
by Stocks1000
2
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