Basilea reported solid H1 2020 results boosted by continued strong underlying Cresemba sales growth. Business was largely unaffected by Covid-19. Roughly 25% of its debt was extended from 2022 to 2027 by the combined placement of a new convertible bond and partial repurchase of the existing convertible bond. The cancer pipeline is rapidly progressing with lisavanbulin moving into phase II in brain cancer in the next few months (now included in our forecasts) and results of the registrational trial of derazantinib in iCCA expected around year-end.

Key catalysts include:

  • Start biomarker-driven phase II trial lisavanbulin in brain cancer (H2 2020)
  • Interim results “FIDES-02” trial in urothelial cancer (H2 2020)
  • Results registrational derazantinib “FIDES-01” trial in iCCA (year-end 2020)

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