4D PHARMA: H1 results – clinical development progressing
4D PHARMA: (CORPORATE, Fair Value 465p (+159%))H1 results – clinical development progressing
4D Pharma reported its H1 results for the 6-month period ending June 30th. As expected, financial results showed an increase in R&D investments, consistent with the company conducting increasing amounts of work related to clinical development of its different product candidates. The company ended the period with GBP36.6m in cash (down from GBP50m at December 31, 2017). Before year end we expect to see further announcements regarding the initiation of clinical trials in cancer and irritable bowel syndrome. In view of a 16% increase to our forecast for R&D investments to GBP29.3m for the full year, our risk-adjusted FV now stands at 465p (from 471p).
4D Pharma is engaged in research and development of pharmaceutical products in live biotherapeutic areas.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.