Edison Investment Research - Symbio Pharmaceuticals (4582) SymBio Pharmaceuticals - Looking forward to Treakisym Phase III data

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Edison Investment Research

Dr Dennis Hulme

SymBio Pharmaceuticals - Looking forward to Treakisym Phase III data

Treakisym continues to generate double-digit sales growth, although 2018 sales were below our expectations. A temporary dip in revenue is expected in 2020 as inventory held by Eisai is wound down, ahead of SymBio establishing its own sales organization in Japan at the end of that year. The ongoing Phase III study of Treakisym in diffuse large B-cell lymphoma (DLBCL) is on track to allow a potential filing in Q220; we estimate that the DLBCL indication could double peak sales, if approved. SymBio reaffirmed its key goal to become profitable in 2021, the first full year of Treakisym self-commercialization. Our valuation is $237m or $2.7/ADR.

18/04/2019 13 EN

Underlying

Symbio Pharmaceuticals

Symbio Pharmaceuticals is a specialty biopharmaceutical company based in Japan. Co. specializes in the development and commercialization of drug candidates in oncology, hematology and autoimmunity areas. Co. has built pipelines (a group of newly developed drugs) with several pharmaceuticals, as well as, newly developed drugs in these disease areas. Co.'s product pipeline includes SyB L-0501(treatment of non-Hodgkin's lymphoma and mantle cell lymphoma); SyB L-1101/SyB C-1101, a multi-kinase inhibitor for the treatment of refractory/relapse myelodysplastic syndromes and solid tumor indications; and SyB D-0701, an antiemetic transdermal patch.

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JP3383050006 Japan

Provider

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

Dr Dennis Hulme

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SymBio Pharmaceuticals - Looking forward to Treakisym Phase III data

SymBio Pharmaceuticals - Termination of coverage

SymBio Pharmaceuticals - The first whole quarter of internal SymBio sales

SymBio Pharmaceuticals - Treakisym approved for DLBCL

Accsys Technologies - Upgrading guidance for the full year

Topps Tiles - Market outperformance again in FY24

Nabaltec - Resilience and margin expansion

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