Report
Victor Floc’h

THERANEXUS: A setback in narcolepsy for THN102 but still an opportunity in Parkinson | CORPORATE | EUR16 vs. EUR32

THERANEXUS - CORPORATE | EUR16 vs. EUR32 (-7%)
A setback in narcolepsy for THN102 but still an opportunity in Parkinson

Preliminary results struggle to show any efficacy in narcolepsy
THN102 should show its true potential in Parkinson’s disease
Beyond THN102, two different assets are still in the pipeline
Write-off in narcolepsy halves our FV to EUR16.0 per share
Underlying
Theranexus SA

Theranexus SA is a France-based company engaged in the healthcare industry. The Company is a biopharmaceutical entity that develops drug candidates to be used in the treatment of central nervous system (CNS) disorders, including epilepsy, narcolepsy, Parkinson's disease, Alzheimer's disease, neuropathic pain and psychiatric disorders. Its patented technology is aimed at increasing the efficacy of CNS drugs, which are approved and available on the market. The Company's technology is protected, scalable and versatile, and used to generate high value-added proprietary drug candidates for different conditions, while reducing time-to-market and market entry costs and risks in comparison with standard drug development processes. Theranexus SA operates in the domestic market.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Victor Floc’h

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