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Stein Erik Hagen relaxes Ultimovacs shares

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Stein Erik Hagen relaxes Ultimovacs shares

On Thursday, Ultimovacs shareholders received disappointing news. The skin cancer study in which investors and analysts have had the most faith shows that the company’s vaccine has had no effect.

Consequently, the share plummeted by around 90 per cent on the Oslo Stock Exchange.

After the news, it is stated in a flag announcement that the second largest owner in Ultimovacs, Stein Erik Hagen-controlled Canica, has sold 1 million shares.

Hagen is left with just over 1.7 million shares, thus ending up below the flag limit of 5 per cent with an ownership stake of 4.96 per cent. That makes him the company’s fourth largest owner.

Finansavisen has calculated Hagen’s loss in Ultimovacs at close to NOK 300 million on Thursday, and has not succeeded in getting a statement from Canica.

The company’s largest owner, Bjørn Rune Gjelsten, sat with a huge profit before Thursday’s news. Now it is likely that paper values ​​of over NOK 700 million will go up in smoke for the investor.

DNB Markets analyst Geir Hiller Holom, who is also a doctor, does not hide what he thinks about the study results.

– There is a crisis for the company. Firstly, the study shows no effect when using so-called progression-free survival as the primary endpoint. It is dramatic, he tells Finansavisen.

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