L’année du verdict - ACHAT - OC 64€ (vs 80,7€)
Nous mettons à jour notre modèle pour CARDIO3 suite à un changement de couverture, avec pour conséquence un objectif abaissé à 64€ vs 80,7€ mais une recommandation maintenue à ACHAT. L’année 2015 sera cruciale pour la société belge qui publiera dans quelques semaines ses résultats cliniques préliminaires de phase III de son principal composé C-CURE. En fonction de ces résultats, un lancement potentiel de la thérapie pourrait être envisagé dès 2017. Cependant, la volonté à court terme du management de vouloir lever des fonds principalement aux Etats-Unis laisse planer une épée de Damoclès sur le cours.Celyad is engaged in engineered cell therapy treatments with clinical programs initially targeting indications in cardiovascular disease and oncology. Co. provides C-CATHez, an injection catheter that delivers bio therapeutic agents into the myocardium. Co.'s main product is C-Cure, which is in Phase III clinical trials for the treatment of chronic heart failure secondary to ischemic cardiomyopathy. Co.'s drug product candidates are autologous cell therapy treatments. In autologous procedures, a patient's cells are harvested, selected, reprogrammed and expanded, and then infused back into the same patient.
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