reports
- Carole Braudeau
- Carole Braudeau
- Jacob Mekhael
Sequana Medical € 6m convertible and debt restructuring extend runway ...
Sequana reported 1H24 results and announced a new convertible loan of € 3.05m (additional tranche of € 3.05m), extending its runway into 1Q25. The company is exploring separating the DSR and alfapump businesses into Hive-Downs to solve for the lack of synergy between programs. Additionally, Sequana restructured its debt with Kreos, PMV, Belfius, and Sensinnovat. Responses to the FDA 90 Day letter will submitted on 1 October, and alfapump PMA approval continues to be expected by 1Q25.
- Thomas Vranken
Biotalys FIRST LOOK: BioFun-8 strengthens the pipeline
Biotalys announced the addition of a new biofungicide program to the pipeline. Biofun-8 leverages Biotalys' Agrobody platform and will target Alternaria, an important leaf spot fungus in fruits, vegetables and potato crops. Biotalys estimates a market opportunity around $ 1.1bn. We reiterate our € 6 TP and Buy rating.
- ING Helpdesk
- Thomas Vranken
UCB Highlighting the unmet needs in HS
In a capital markets call yesterday, UCB provided more insight into the HS data with two KOLs. The presenters emphasized the importance of Bimzelx' clinical remission rates and reduction in draining tunnels. We raise our peak sales estimate for HS to € 1.1bn, and increase our TP from € 168 to € 173.
- Jacob Mekhael
- Thomas Vranken
- Wim Hoste
- Wim Hoste
Ontex FIRST LOOK: Divestment of Brazil is a big step in strategy execu...
The binding agreement announced today to sell the Brazilian business to Softys allows Ontex to further progress on its strategic agenda to focus on its European and North American businesses, leaving only one remaining non-core asset (Turkey) for the time being. Despite our enthusiasm on the strategic progress, the deal value (€ 110m or 5-5.5x EV/EBITDA24e) is not overwhelmingly positive, certainly when taking into account the significant leakage on transaction and tax expenses. We continue to a...
Ontex reaches important milestone in reshaping its portfolio with bin...
Ontex reaches important milestone in reshaping its portfolio with binding agreement to sell its Brazilian business to Softys Aalst, Belgium, September 30, 2024 – Ontex Group NV (Euronext: Ontex), a leading international developer and producer of personal care products, announces that it has entered into a binding agreement to sell its Brazilian business activities to Softys S.A. for an enterprise value of BRL 671 million (or approximately €110 million*). Softys is a personal hygiene company with operations across Latin America, that also acquired Ontex’s Mexican business activities in 2023...
- David Vagman
- CFA
- Francesca Ferragina
- Hans D’Haese
- Jason Kalamboussis
- Javier Campos Unda
- Marc Hesselink
- CFA
- Marc Zwartsenburg
- CEFA
- Maxime Stranart
- Quirijn Mulder
- Reg Watson
- CFA
- Stijn Demeester
- Thymen Rundberg
- Tijs Hollestelle
ING Benelux Favourites/ASM, ASR, D'Ieteren, EVS, Fugro, Randstad, SBM ...
We refresh our ING Benelux Favourites list. We still apply a fundamental bottom up approach in which we select stocks that provide the best (relative) upside within our Benelux coverage universe and these stocks need clear catalysts. Besides this, we screen our ING Benelux coverage universe on some key investment themes that are topical and which could affect earnings potential and thus a stock's share price performance: (1) interest rate/refinancing opportunity in a lower rates environment; (2)...
- Hilde Van Boxstael
- Kristof Samoy
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Thomas Vranken
UCB FIRST LOOK: Bimzelx deepens responses in HS over two years
UCB announced the first 2-year follow-up data with Bimzelx in hidradenitis suppurativa (HS). The data appears largely favourable in our view, with deepening responses across the various HiSCR endpoints. We believe Bimzelx is set to become the new standard of care in HS (pending FDA approval), and reiterate our €168 TP and Accumulate rating.
- Jacob Mekhael
- Michiel Declercq
- Thomas Vranken
Life Sciences Conference 26.09.2024
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
- Delphine Brault
- Quentin Borie
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/25/2024
Iberdrola is the strategic benchmark in the universe of integrated utilities. Since 2001, the group has pursued a resilient strategy of profitable growth (renewables and networks), geographic expansion and attractive shareholder returns (TSR average annual of 17.9%). But based on the strong share's performance and the low residual upside on our target price of € 15.30, we have lowered our rating to Neutral vs Outperform. - ...
- Thomas Vranken
UCB FIRST LOOK: Post-hoc analyses further confirm Bimzelx' PsO leaders...
UCB presents additional post-hoc analyses of its 4-year pooled data for Bimzelx in PsO. Bimzelx sustains high efficacy with 87.9% PASI90 and 72.4% PASI100 in year-1 responders after 4y. Furthermore, Bimzelx also showed >70% PASI90 and >40% PASI100 after nearly 4y in patients who did not respond to Humira, Cosentyx or Stelara. We see the consistent high PASI100 as differentiator for Bimzelx, setting the benchmark for future therapies. We reiterate our € 168 TP and Accumulate rating.
- Delphine Brault
- Quentin Borie
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/09/2024
Iberdrola est la référence stratégique dans le secteur des utilities intégrées. Depuis 2001, le groupe poursuit une stratégie résiliente de croissance rentable (renouvelable et réseaux), d’expansion géographique et de rémunération attractive des actionnaires (TSR annuel moyen 17.9%). Toutefois, la forte performance du titre et le faible potentiel résiduel à notre objectif de cours de 15.3 €, nous amènent à abaisser l’opinion à Neutre vs Surperformance. - ...
- Damien Choplain
- Martial Descoutures
UCB : Positive phase III for DPZ
>First phase III study of DPZ shows positive results… - UCB and Biogen yesterday published the headline results from the phase III PHOENYCS GO study evaluating dapirolizumab pegol (DPZ) in people with moderate to severe systemic lupus erythematosus. DPZ, in addition to standard treatment, met its primary endpoint by demonstrating an improvement in disease activity (BICLA test score, a standard assessment in Lupus) after 48 weeks. In addition, clinical improvements wer...
- Damien Choplain
- Martial Descoutures
UCB : Phase 3 positive pour DPZ
>La première phase III de DPZ ressort positive… - UCB et Biogen publiaient hier les résultats headlines de l'étude de Phase 3 PHOENYCS GO évaluant dapirolizumab pegol (DPZ) chez des personnes atteintes d'un lupus érythémateux systémique modéré à sévère. DPZ, en plus du traitement standard, a atteint son critère d'évaluation primaire en démontrant une amélioration de l'activité de la maladie (score test BICLA, évaluation standard dans le Lupus) après 48 semaines. De pl...
- ING Helpdesk
- Thomas Vranken
UCB FIRST LOOK: String of positive Ph3 readouts continues into SLE
UCB announced positive topline results for the first of two Phase 3 trials for anti-CD40L dapimap in systemic lupus erythematosus (SLE). SLE is a debilitating autoimmune disease, characterized by flares that could lead to organ damage. While we currently do not have topline data yet, dapimap is set to compete against GSK's Benlysta and AstraZeneca's Saphnelo and could eventually reach just below $ 1bn peak sales according to our preliminary analysis. We currently value dapimap at € 1.70 p.s., an...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.