Report

Newron Pharmaceuticals - Xadago sales slow but STARS ahead

Newron Pharmaceuticals’ recently reported interim results highlight that despite additional worldwide launches of Xadago, sales growth in the US and Europe remain below our expectations. For Evenamide, the company is addressing FDA concerns on the pre-clinical data and plans are underway for short-term explanatory studies before starting the pivotal Phase III trials. Top-line data from the pivotal trial Sarizotan Treatment of Apnoeas in Rett Syndrome (STARS), are expected in Q419. The reported net loss increased 85% to €14.0m in H119, driven by higher than expected net R&D expenses. We value Newron at CHF466m or CHF26.1/share.
Underlying
Newron Pharmaceuticals SpA

Newron Pharmaceuticals is a clinical stage biopharmaceutical company. Co. is focused on the development of drugs for the treatment of central nervous system disorders and pain. Co.'s pipeline include, Xadago® (safinamide), for the treatment of Parkinson's disease (PD) and PD Levodopa-induced dyskinesia; Sarizotan, for the treatment of Rett syndrome (Orphan drug status); Evenamide (NW-3509), for the treatment of Schizophrenia and Clozapine-treatment-resistant schizophrenia; and Ralfinamide for patients with specific rare pain indications (neuropathic pain).

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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