KBC Securities - BIOTALYS NV (BTLS) Biotalys FIRST LOOK : FY23 results, ready at the starting blocks

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KBC Securities

Guy Sips ...

Thomas Vranken

Biotalys FIRST LOOK : FY23 results, ready at the starting blocks

No major surprises out of Biotalys' FY23 update as the company continues its work with the EPA for regulatory approval of Evoca. Meanwhile, new management fine-tuned the technology platform and restructured the pipeline with BioFun-6 now coming forward as the next candidate for field trials. Cash landed higher than expected at € 21.6m, implying runway until April 2025. We maintain our conviction in Biotalys' technology while we await a regulatory decision, and reiterate our € 6.0 TP and Buy rating.

22/02/2024 1 EN

Underlying

BIOTALYS NV

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BE0974386188 Euronext Brussels Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Guy Sips

Thomas Vranken

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Biotalys FIRST LOOK : FY23 results, ready at the starting blocks

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Notes : ACKB BB, AGFB BB, UCB BB, BTLS BB, ARG FP

Biotalys FIRST LOOK: Fresh cash through € 15m private placement

Biotalys FIRST LOOK: BioFun-8 strengthens the pipeline

Bekaert Feedback conference call

Inventiva FIRST LOOK: 3Q24 update holds no surprises, NATiV3 timelines reiterated

Ackermans & van Haaren 3Q FY24: Major Participations Continue To Post Robust Results

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