Hyloris reported preliminary 1H24 results with total revenues of € 4.6m (1H23: € 2.3m), which include a € 2.1m milestone payment for the launch of Maxigesic IV in the US. While a specific cash runway was not provided, the company believes it's well capitalised to fund R&D for existing products, but will require additional funding to commercialise its near-term cardiology products in the US. We reiterate our € 5 TP and Hold rating.
Hyloris announced that its partner AFT Pharmaceuticals has signed an exclusive licensing agreement for Maxigesic IV (1000mg paracetamol with 300mg ibuprofen) for China with a subsidiary of Xizang Weixinkang Pharmaceutical. Hyloris will be eligible for a share of the $300K upfront received by AFT, as well as milestones and royalties. Details on the development plans in China have not been disclosed, though we believe a local trial would likely be required to gain approval by the Chinese NMPA (nat...
This conference booklet is your guide to our Life Sciences Conference set to take place on Thursday, 26 September 2024 at our historic building at Grand Place in Brussels. This event offers the possibility to have one-on-one meetings and/or join pitch sessions with the following companies and their top management: Public: AUTOLUS | GALAPAGOS | HYLORIS | INVENTIVA | MAAT PHARMA | ONWARD MEDICAL | SEQUANA MEDICAL | UCB | ZEALAND PHARMA Private: CONFO TX | MRM HEALTH | PANTERA | SKYLINE DX
Hyloris adds a new asset to the pipeline that is geared toward veterinary medicine. HY-095 is long-acting injectable formulation of a well-known proton pump inhibitor for the treatment of equine gastric ulcer syndrome, allowing more reliable drug delivery and lower dosing frequency vs. existing orals. Together with its partner, Hyloris will fund development costs and manage clinical trials in exchange for a 90%/10% profit sharing. We reiterate our € 5 TP and Hold rating.
Following the FSMA statements and outcome of the independent forensic investigation of the QliniQ transactions, Hyloris will initiate a transition process to a new CEO, and the CFO and CLO will step down. Last week, the stock resumed trading (-75% intraday) following publication of the 2023 annual report, which included a qualified opinion regarding the Pleco agreement. Additionally, the QliniQ transactions case has been referred to the public prosecutor's office. We took a step back to evaluate...
Hyloris provided an update following completion of the independent forensic investigation with respect to the QliniQ transactions. While management dispute the findings of the independent forensic review, they have proposed to step down from their roles in the interest of the company. In addition, we welcome the board's decision to strengthen Hyloris' governance, which in our view will contribute to building investor trust going forward. This aside, we continue to believe in the business case, a...
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