BASILEA PHARMACEUTICA BUY | CHF52 On track for profitability in FY23, reiterating a BUY rating
Yesterday, Basilea reported Q2 earnings with our main takeaways being i) continued growth in royalty income CHF 29M (+22.5% year-on-year) driven largely by Cresemba, ii) reduction in cash burn with CHF142m cash at hand in 1H22), and iii) maintaining guidance on profitability during FY23. We reiterate our BUY rating with a target price of CHF52 as we continue to see Basilea as undervalued biotech with two commercial assets in the anti-infectives space with meaningful positively-skewed catalysts within the next 12 months.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.
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.