Newron has a pipeline with multiple catalysts on the horizon. It consists of a nice mix of products targeting large disease areas such as Xadago that already generates revenues in Parkinson’s disease, and evenamide in schizophrenia, and products targeting rare diseases such as sarizotan in Rett syndrome, Xadago in PD-LID and evenamide in CTRS. Sufficient funding has been secured. Newron’s valuation is currently based on (low) royalties and milestones from Xadago in Parkinson’s disease. Substantial value will be unlocked with the approval and launch of sarizotan in Rett syndrome, Xadago in PD-LID, and evenamide in schizophrenia and CTRS. Sarizotan in Rett syndrome is a potential game changer that will be sold through an own small specialist sales force maximizing profitability.
Key catalysts include:
• Start new label trial Xadago in PD-LID (Q2 2019)
• Start potentially pivotal program of evenamide in schizophrenia/CTRS (Q2 2019)
• Top line results sarizotan “STARS” trial in Rett syndrome (Q4 2019)
See the full valuation report below.