Report
Martial Descoutures

A specific pathway - BUY - TP 3€

Following a 2016 under pressure with the review underway of Ovasave, we believe that the current share prices offers a genuine opportunity to BUY. We think that TxCell’s principal challenge in 2017 is to demonstrate the advantage of it’s second technological platform, ENTrIA. With little visibility concerning the strategic choices regarding Ovasave, we are at this point only valuing this 2nd platform, which includes 4 programs in lupus nephritis, bullous pemphigoid, multiple sclerosis and transplantation-related disorders. Recommendation to BUY with a TP at 3€ (+73%upside).
Underlying
TxCell SA

Txcell SA. TxCell SA is a France-based biotechnology company. It is engaged in the development of therapies to cure inflammatory and autoimmune diseases. The Company conducts medical research in anti-inflammatory immunotherapy. TxCell SA's technology is based on Tr1 T-regulatory cells which enable the regulation of the immune system. The Company's strategy aims at re-establishing this immunologic equilibrium by bringing regulatory T cells to the body. TxCell SA produces products which are used to treat Inflammatory Bowel Disease, primarily treatment resistant Crohns Disease (OvaSave), Inflammatory Joint Diseases, initially treatment resistant Rheumatoid Arthritis (TX-RAD) and Neurological Diseases, as well as targeting Multiple Sclerosis (TX-MSD).

Provider
Invest Securities
Invest Securities

Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.

Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.

Analysts
Martial Descoutures

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