Edison Investment Research - Hybrigenics S.A. (ALHYG) Hybrigenics - Leukaemia pipeline advances with new data

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Edison Investment Research

Juan Pedro Serrate

Hybrigenics - Leukaemia pipeline advances with new data

Hybrigenics has published data from a Phase II study in chronic myeloid leukaemia (CML). After one year of treatment, 40% of patients showed improvements beyond a major molecular response (MMR) and 20% achieved a deep molecular response (DMR), consistent with a functional cure. The ongoing Phase II trial in acute myeloid leukaemia (AML) will complete enrolment before end 2018, with data readout in 2019. Hybrigenics has completed its refocusing on R&D with the sale of the genomics division, Helixio. The internal R&D programme on ubiquitin-specific proteases (USP) inhibition continues. Hybrigenics also has an R&D partnership with Servier focused on oncology worth up to â‚¬12m. Cash at end 2017 was â‚¬7m. Our valuation is â‚¬129.5m or â‚¬2.77/share.

24/05/2018 5 EN

Underlying

Hybrigenics S.A.

Hybrigenics SA is France-based Company engaged in the biotechnological sector. It specializes in the research and development of drugs intended for cancer treatment and supplies scientific services in the protein interaction field. The Company is specialized in the research and development (R&D) of drugs to fight cancer. It is organized in two units: Hybrigenics Pharma for internal R&D, which develops a research program aimed at such diseases as melanoma and prostate cancer; and Hybrigenics Services for commercial business, mainly engaged in protein interaction information and solutions. Hybrigenics SA's main development program is based on inecalcitol, a vitamin D analogue, for prostate cancer treatment. It operates through Hybrigenics Corporation and Imaxio.

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FR0004153930 Euronext Paris France

Provider

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

Juan Pedro Serrate

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Hybrigenics - Leukaemia pipeline advances with new data

Genfit SA - Mergers & Acquisitions (M&A), Partnerships & Alliances And Investments

Hybrigenics - Inecalcitol advancing towards data

Mendus - Regulatory endorsement supports vididencel focus

Melrose Industries - Fundamentals remain positive

Theon International - Record order book and upgrade to FY25

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