Report

Basilea Pharmaceutica - Derazantinib spearheads oncology portfolio

Basilea has successfully brought two anti-infective drugs to the market. Lead product Cresemba continues to benefit from ongoing launches by multiple partners including Astellas (US) and Pfizer (ex-US). Longer-term value creation is dependent on crystallising the mid-/late-stage oncology portfolio. Three ongoing Phase II trials (FIDES-01/02/03) will define lead R&D asset derazantinib’s utility in intrahepatic cholangiocarcinoma (iCCA; bile duct cancer), urothelial cancer and gastric cancer. Lisavanbulin, a unique, internally developed asset, has progressed into a proof-of-concept Phase II biomarker-driven trial in recurrent glioblastoma (GBM) (interim results expected H221). Our forecast profitability in 2022 is dependent on the late-stage clinical development strategy for derazantinib and lisavanbulin. We value Basilea at CHF1.17bn or CHF99 per share.
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.

Provider
Edison Investment Research
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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