contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Antti Siltanen

Faron is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company's lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through reprogramming myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments.

Those slides seem to have different IWG criteria. Have these been taken into account in that calculation? I can’t quite keep track of them manually.

Another observation from the results. The first 20 were reported according to IWG2018 and the supplementary 12 (also including the previous 20) according to IWG2006. IWG 2018 is clearly stricter than IWG 2006, especially regarding hematological improvement (HI) and transfusion responses. Therefore, the results are not directly comparable. Furthermore, it’s peculiar that the results were better with stricter criteria. EDIT: Let’s add here that out of the first 20 patients, 9 had TP53, and in the next 12, only 4. Perhaps the distribution of patients by wt/mt doesn’t matter.

For me, the biggest uncertainty regarding Bex is the highly unpredictably varying research results. At ASH, an attempt was made to highlight the high CR responses in TP53 mutants in the first-line, which can be explained at least in part by patients who received a transplant. overshadowed by these results in the presentation were the rather ordinary results for non-mutant patients in the first-line. For r/r patients, development has also been quite modest over the last year. At ASH 2024, results for 20 patients were presented:  After that, 12 more patients were enrolled in the study, and their responses can be calculated from Esmo’s slides:  The ORR for the first 20 patients was 80%, and for the next 12 patients, the ORR was 33%. The CR + mCR + PR responses for the first 20 patients were 70%, for the next 12 patients a maximum of 25%. NOTE! at least one patient who achieved a PR response has improved from the 2024 situation. Of the first 20 patients, 20% received no response, for the next 12 patients, the figure was 67%. This (either) is not a catastrophe in my opinion, but with these patient numbers, there is a huge amount of variation in the results. Monitoring things is not made any easier by Faron’s very sparse communication, and partly because of this, the air is filled with all kinds of speculation and interpretation of Juho’s eyebrow position.

It would probably be better if the scientific aspect were not reported at all, and publications were only referred to laconically. Because complex scientific matters simply cannot be explained. As a layman, I don’t even think about these things that closely, as they are not essential from an investment case perspective; they are just background niche science.

How many presumed PhDs and how much time were needed to understand a single stock exchange release. If the stock exchange release were consumer marketing, this would reek of misleading information (which is at least reprehensible). There are probably also separate rules related to the marketing of investment products (perhaps also applies to stocks). Someone else can figure that out. The burden of proof / burden of explanation will now shift to Faron. Props to Clark for persistence and to Pat for the investigative (and innovative) detective work. It was not a pleasant day for a layman to follow this episode from the sidelines.

Well yes, this is just because I don’t understand the text I’m reading. Luckily, you wise ones are blessed with the gifts of understanding.

I also looked at this, and yes, TI generally refers to red blood cell TI. Here, platelet TI has also been included in the total percentage, without it being specifically mentioned. That is also misleading, although I don’t consider it as serious an error as that baseline TD-TI conversion.

Faron Pharmaceuticals

Faron Pharmaceuticals is a clinical stage biopharmaceutical company whose three drug candidates relate to the modulation of immune system or inflammatory response. Faron is a very high-risk ...

<p>Faron Pharmaceuticals is a clinical stage biopharmaceutical company whose three drug candidates relate to the modulation of immune system or inflammatory response. Faron is a very high-risk investment as drug development requires frontloaded investments in research, while the success of commercialization is very uncertain. If the drug candidates enter the market, the invested capital can be multiplied. However, failure of drug development is frequent and, in that case, the invested capital may be partially or totally lost. We believe the share provides sufficient expected return to counterbalance the high risk. The share is suitable for a long-term investor that tolerates high risk as part of a well-diversified portfolio. A person investing in Faron must also be prepared for share issues.</p> 

	2021	22e	23e
Revenue	0.0	0.0	0.0
growth-%
EBIT (adj.)	-21.1	-22.0	-0.8
EBIT-% (adj.)	-527,700.0 %	-550,000.0 %	-19,500.0 %
EPS (adj.)	-0.40	-0.40	-0.02
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	neg.	neg.	neg.

Risky investment with huge potential

Key Estimate Figures2022-08-08

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