Report
Jacob Mekhael

Hyloris FIRST LOOK: Signs exclusive UK licence and supply agreement for XTRAZA

Hyloris announced that an exclusive licence and distribution agreement has been signed with Colonis Pharma for XTRAZA (tranexamic acid oral rinse) in the UK, where Hyloris will receive undisclosed milestones and will supply the product to Colonis in the UK. A phase 3 trial for the candidate is ongoing in the US and EU, with data previously guided for 1H25, which means the product could reach market in 2026. For reference, we estimate peak sales of € 27m for tranexamic acid oral rinse in the US with € 7m in royalties for Hyloris at peak, and expect the UK to be a fraction of the US market. With no material changes to the business case, we reiterate our € 5 TP and HOLD rating.
Underlying
Hyloris Pharmaceuticals

Provider
KBC Securities
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Analysts
Jacob Mekhael

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