Edison Investment Research - Basilea Pharmaceutica AG (BSLN) Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

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Edison Investment Research

Sean Conroy

Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

H224 continues to be a rewarding period for Basilea Pharmaceutica, with the announcement of a third successive milestone payment for Cresemba in the last month following strong sales performance (+24% y-o-y growth in in-market sales to US$489m for the 12 months ending March 2024). The latest milestone (US$25m/CHF21m) was triggered by license partner Pfizer exceeding a predetermined sales threshold in Europe. In total, Cresemba has raked in upwards of CHF34m in milestone payments in the year to date (with c CHF32m in H224 thus far), and we expect a further c CHF5m before year-end based on the most recent guidance from management. Beyond Cresemba, we expect the key focus areas for Basilea in H224 to be finalising a US commercialisation partner for Zevtera and the initiation of the first Phase III study for fosmanogepix (in candidemia/invasive candidiasis).

09/09/2024 1 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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Bryan Garnier

Basilea pipeline validated by US BARDA, guidance upgraded

Basilea today lifted FY24 guidance, raising net profit by whopping 43% (CHF 60m versus previous CHF 42m) and revenue by 3.6% following the decision of the US BARDA agency to support Basilea pipeline development with an initial USD 29m funding, of which Basilea intends to recognize CHF 7m in H2 24.

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GlobeNewsWire

Basilea schliesst Vereinbarung mit BARDA zur Entwicklung neuartiger Medikamente für die Behandlung von Infektionen durch Pilze und Bakterien ab und erhält erste Förderung

Basilea schliesst Vereinbarung mit BARDA zur Entwicklung neuartiger Medikamente für die Behandlung von Infektionen durch Pilze und Bakterien ab und erhält erste Förderung Bereitstellung eines ersten Betrags von USD 29 Mio. zur Unterstützung der Entwicklung von Basileas klinischen First-in-Class Antipilzmitteln Fosmanogepix und BAL2062Mehrjähriges Other Transaction Agreement (OTA) ermöglicht potenziell finanzielle Unterstützung von bis zu ca. USD 268 Mio. für die Entwicklung von Wirkstoffen zur Behandlung von Infektionen durch Pilze und Bakterien Anhebung des finanziellen Ausblicks (Guidance...

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GlobeNewsWire

Basilea enters into agreement with BARDA to develop novel antifungals and antibacterials and receives initial funding

Basilea enters into agreement with BARDA to develop novel antifungals and antibacterials and receives initial funding Initial funding of USD 29 million to support development of Basilea’s clinical stage first-in-class antifungals, fosmanogepix and BAL2062Multi-year Other Transaction Agreement (OTA) allows for potential funding of up to approximately USD 268 million to develop antifungal and antibacterial assets Increasing FY 2024 financial guidance on total revenue, operating result and net profit Ad hoc announcement pursuant to Art. 53 LR Allschwil, Switzerland, September 19,...

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Utilico Emerging Markets Trust - Market not reflecting very strong fundamentals

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September 18, 2024 September 18, 2024 1 EN

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Basilea Pharmaceutica - H2 rewards continue: US$25m Cresemba milestone

Basilea pipeline validated by US BARDA, guidance upgraded

Basilea schliesst Vereinbarung mit BARDA zur Entwicklung neuartiger Medikamente für die Behandlung von Infektionen durch Pilze und Bakterien ab und erhält erste Förderung

Basilea enters into agreement with BARDA to develop novel antifungals and antibacterials and receives initial funding

IP Group - Management sees positive portfolio momentum

Creo Medical - Consumables business divested in strategic move

Utilico Emerging Markets Trust - Market not reflecting very strong fundamentals

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