Update: ADMYRE results keenly awaited
PharmaMar’s increasing investment in its promising oncology pipeline is supported by growing Yondelis revenue that will be further buoyed by recent approvals in the US, Japan and elsewhere, as well as by refinancing of its short-term debt. Phase III data for Aplidin in multiple myeloma, expected later this month, could be a significant catalyst for the stock. Our valuation is unchanged at €1.07bn or €4.82 per share ahead of this.Pharma Mar SA is a Spain-based company engaged in the bio therapeutic drugs manufacture. The Company focuses on research, development and marketing of bio-active principles, primarily from marine origin, for application in human diseases treatment, including antitumour, antiviral and immunomodulation, as well as tropical diseases areas. It manufactures and sells Yondelis, a synthetically modified antitumor agent, which is derived from sea squirts and is implemented in the treatment of soft tissue sarcomas and relapsed ovarian cancer. Furthermore, the Company's products pipeline comprises drug candidates and agents for cancer treatment, such as Aplidin, PM01183 and PM060184. The Company operates through subsidiaries in Italy, Germany, France, and the United States, among others.
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