The major contributors of value in the sum-of-the-parts valuation are ExpreS2ion’s 34% stake in its joint venture with NextGen Vaccines, AdaptVac, ExpreS2ion’s breast cancer vaccine candidate, ES2B-C001 HER2-cVLP, the company’s Influenza program as part of the INDIGO consortium, and royalties from the PREVENT-nCoV COVID-19 vaccine program.

The full English version of the company-sponsored equity research report is attached to this press release.

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