Report
Daniel Wilkinson

Transgene - Near-term data to define long-term strategy

Transgene develops virus-based product candidates for use in oncology and infectious diseases, its five clinical products are currently in 11 clinical trials across a variety of indications, its most advanced is Phase III trial with Pexa-Vec in first-line Hepatocellular Carcinoma with data anticipated in 2019. Its strategy remains to develop its candidates in combination with approved treatments, notably immune checkpoint inhibitors (ICIs). It anticipates eight clinical readouts across its five clinical candidates by year end, notably TG4010 in combination with Opdivo and chemo in first-line NSCLC. We value Transgene at €4.65/share vs €3.80/share previously.
Underlying
Transgene SA

Transgene is a biopharmaceutical company that designs and develops immunotherapy and virotherapy products for the treatment of cancers and infectious diseases. Co. is developing three anti-cancer products that are in clinical trials: (cancer of the lungs, liver and oropharynx); two anti-infectious immunotherapy products also in clinical trials: (hepatitis B and C). Co. also has products in the pre-clinical development stage. Co. operates in a single business segment, the research and development of therapeutic vaccines and immunotherapy products. Co. does not have any products on the market. Substantially all of its operations are conducted in France.

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
Daniel Wilkinson

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