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Analytikerkommentar

Gubra - Further validation of the streaMline platform, adding further long-term optionality

Af Philip CoombesEquity Research Analyst
Gubra

This afternoon Gubra announced that its partner Amylyx Pharmaceuticals is has selected its AMX0318 asset, a long-acting GLP-1 receptor antagonist, discovered in collaboration with Gubra, as a formal development candidate for post-bariatric hypoglycemia and other rare diseases.

The candidate met all key selection criteria, including strong chemical stability, in-vitro potency, in-vivo efficacy and tolerability, and a pharmacokinetic profile consistent with long-acting dosing. This means that IND-enabling studies can be initiated. IND submission is targeted for 2027, pending submission of successful completion of IND-enabling studies.

As part of the nomination, Gubra will receive a USD 4m milestone, with the collaboration carrying >USD 50m in total potential milestones plus mid-single-digit royalties on future sales. From an investment perspective, the news provides further third-party validation of Gubra’s AI-driven streaMLine platform and its ability to generate differentiated, high-quality peptide drug candidates that meet big-pharma and biotech development standards across indications. 

While the economics are modest relative to Gubra’s headline partnerships and the programme remains early-stage, repeated external progression of streaMLine-derived assets reinforces platform credibility and long-term optionality. That said, the main value drivers for Gubra remain the AbbVie partnership around ABBV-295 and the internally owned UCN2 obesity programme, which continue to dominate our valuation and near- to mid-term investment case.

Learn more about Gubra's pipeline, and dual Discorvery & Partnerships (D&P) and CRO business model, and some valuation perspectives around Gubra's signature assets in the latest HCA one-pager here: https://www.inderes.dk/research/gubra-one-pager-strong-differentiated-obesity-pipeline-and-valuation-update

Disclaimer: HC Andersen Capital receives payment from Gubra for a DigitalIR/Corporate Visibility agreement. / Philip Coombes 14:26 08/01/2026, updated 10:52 09/01/2026 

 

Gubra er en medicinalvirksomhed. Virksomhedens aktiviteter er fokuseret på de tidlige stadier af lægemiddeludvikling. De udfører hovedsageligt forskning og udvikling inden for stofskifte- og fibrotiske sygdomme.Virksomhedens produktportefølje omfatter flere brands og lægemidler, og aktiviteterne foregår på globalt plan med den største tilstedeværelse i Nordamerika og Norden. Hovedkontoret ligger i Hørsholm, Danmark.

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