Edison Investment Research - Basilea Pharmaceutica AG (BSLN) Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

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Edison Investment Research

Sean Conroy

Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

H224 continues to be a rewarding period for Basilea Pharmaceutica, with the announcement of a third successive milestone payment for Cresemba in the last month following strong sales performance (+24% y-o-y growth in in-market sales to US$489m for the 12 months ending March 2024). The latest milestone (US$25m/CHF21m) was triggered by license partner Pfizer exceeding a predetermined sales threshold in Europe. In total, Cresemba has raked in upwards of CHF34m in milestone payments in the year to date (with c CHF32m in H224 thus far), and we expect a further c CHF5m before year-end based on the most recent guidance from management. Beyond Cresemba, we expect the key focus areas for Basilea in H224 to be finalising a US commercialisation partner for Zevtera and the initiation of the first Phase III study for fosmanogepix (in candidemia/invasive candidiasis).

09/09/2024 1 EN

Underlying

Basilea Pharmaceutica AG

Basilea Pharmaceutica is an integrated biopharmaceutical company engaged in the discovery, development and commercialization of pharmaceutical products for the treatment of bacterial infections, fungal infections, oncology and skin diseases. Co. focuses on antibiotics and antifungals as well as oncology and dermatology drugs. Co.'s portfolio spans from innovative early-stage through clinical late-stage drug candidates to a marketed product. In the context of its international commercialization organization, Co. has subsidiaries in Denmark, France, Germany, Italy, Spain and the United Kingdom.

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CH0011432447 Six Swiss Exchange Switzerland

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

Basilea Pharmaceutica AG: 1 director

Basilea Pharmaceutica - Milestone march continues for Cresemba

Starke Cresemba® (Isavuconazol)-Umsätze in Asien-Pazifik und China lösen vierte Meilensteinzahlung für diese Region in diesem Jahr an Basilea aus

HgT - Steady earnings growth, stable market multiples

Singapore Post - Results boosted by M&A and reduced losses

Information Services Corporation - Continued momentum in earnings growth

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