Tuesday, April 30, 2019 @ 2:30 pm
Basilea beat its increased 2018 guidance thanks to strong Cresemba (fungal infections) sales leading to a significant reduction in the operating loss, despite higher costs to obtain the global rights (excluding China, Hong Kong, Macau and Taiwan) for derazantinib, a promising oral panFGFR inhibitor for treating solid tumors, from Arqule. Strong growth of Cresemba is expected to continue. Basilea should approach profitability in 2020/2021 with sufficient cash, revenues from Cresemba and Zevtera (lung infections), and external funding (e.g. BARDA) to develop its key pipeline projects up to next value inflection points.
Key catalysts include:
• Start derazantinib/Tecentriq POC trial in urothelial cancer (mid 2019)
• Results phase III “TARGET” trial of Zevtera in skin infections (H2 2019)
• Results phase IIa POC trial of BAL101553 in brain & ovarian cancer (end 2019)
Download the full valuation report below.