Edison Investment Research - Basilea Pharmaceutica AG (BSLN) Basilea Pharmaceutica - 2020 vision on derazantinib in iCCA

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Edison Investment Research

Sean Conroy

Basilea Pharmaceutica - 2020 vision on derazantinib in iCCA

Basilea Pharmaceutica is a revenue-generating biotech company that is on the cusp of breaking even (2021e) and sustainable profitability thereafter. It has successfully brought two anti-infective drugs to the market: Cresemba (severe mould infections) and Zevtera (bacterial infections). Combined revenue contributions (as reported by Basilea, both assets are commercialised through partners) are expected to exceed CHF105m in FY19. Longer-term value creation is also dependent on crystallising the mid/late-stage oncology portfolio. Basilea is investing for future growth; multiple datapoints on derazantinib are expected in 2020. If data from the registrational FIDES-01 are particularly positive, they could form the basis of an accelerated approval in iCCA. We value Basilea at CHF1.18bn.

07/01/2020 16 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 - 2020 vision on derazantinib in iCCA

Basilea Pharmaceutica AG: 1 director

Basilea-Aktionäre genehmigen an der Generalversammlung alle Anträge des Verwaltungsrats

Basilea shareholders approve all proposals of the board of directors at the annual general meeting

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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