reports
- Guy Sips
- Hilde Van Boxstael
- Thomas Vranken
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Mithra postpones its annual general meeting
Mithra postpones its annual general meeting Liege, Belgium, 28 May 2024 – 15:00 CEST – Mithra (Euronext Brussels: MITRA), a company dedicated to women’s health, today announces that in the context of the monetization process and the uncertainties related thereto, Mithra postpones its Annual General Shareholders’ Meeting, , to a later date to be determined. Background Information: Mithra announced the launch of a comprehensive monetization process, exploring potential sales of selected assets, notably Estetra SRL, and potentially the entire business. Additionally, Mithra announced the en...
- Hilde Van Boxstael
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Mithra enters into exclusive negotiations with Gedeon Richter and secu...
Mithra enters into exclusive negotiations with Gedeon Richter and secures continued funding in the context of its monetization process Liege, Belgium, 3 May 2024 – 17:30 CEST – Mithra (Euronext Brussels: MITRA), a company dedicated to women’s health, today announces that, after diligent evaluation of , Mithra has selected the offer submitted by Gedeon Richter, which relates to Estetra SRL, Neuralis SA and specific assets held by Mithra R&D SA related to the E4 platform, as a basis for further negotiations and decided to grant exclusivity to Gedeon Richter for the purpose of such negotiation...
Mithra updates on offers received in the context of its monetization p...
Mithra updates on offers received in the context of its monetization process and on its Annual Report 2023 Mithra has received binding offers for selected assets, including Estetra SRL, as part of its monetization process. As it stands, the aggregate amount of these offers is insufficient to ensure full repayment of all creditors of Mithra, and, therefore, the offers do not allow to create value for Mithra’s shareholders at the present time.Mithra has requested the suspension of trading of its shares on Euronext Brussels pending continuing negotiations with offering parties.Mithra postpones...
Mithra secures court protection measures to advance monetization proce...
Mithra secures court protection measures to advance monetization process Court Grants "Transfer under Judicial Supervision" for CDMO facility, safeguarding Mithra's activities and expediting the M&A process for its Contract Development and Manufacturing Organization.Approval of Judicial Reorganization Proceedings for Novalon SA, facilitating an amicable agreement with some creditors and restructuring the debt of Mithra's complex therapeutics business.Mithra Advances Monetization Process with Court Protection Measures, marking significant milestones in the company's commitment to maximizing ...
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Vranken
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Thomas Vranken
Mithra FY23: better than expected operations, but cash and liabilities...
Mithra's FY23 results reveal € 40m revenues and € -48m REBITDA somewhat higher than our expectations, although a € 74m impairment on the CMO and Zoreline tanks the net loss to € 173.5m. While the monetisation process for (parts of) the business is ongoing, we estimate that little value could be left for shareholders. We therefore adopt a Sell rating (previously Reduce) and decrease our TP from € 1.0 to € 0.1.
- Guy Sips
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Vranken
- Thomas Vranken
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Hilde Van Boxstael
- Kristof Samoy
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- Thomas Vranken
Mithra FIRST LOOK: Mayne Pharma's 1H24 results
Mithra's commercial partner in the US, Mayne Pharma, reported its 1H24 results for the period Jul-Dec '23. Nextstellis sales were up 94% vs. 2H23, and reached USD 13.8m, driven by a 33% increase in cycles and an improved net selling price. Although the revenue trend turns positive, it will likely not move the needle for Mithra in a major way in the context of its current cash runway. We expect to see more detail in next week's FY23 update.
- ING Helpdesk
Benelux Morning Notes
Atenor: Permits granted for Realex project in Brussels. Belgian telcos: Telenet ‘investment year' and commitment to regain ‘commercial agility'. DEME Group: Preview - packed offshore wind backlog. Euronext: Strong finish. Heijmans: Preview - M&A related one-offs in 2H23. KPN: VodafoneZiggo 4Q23 weak fixed, solid mobile, single digit EBITDA growth guided. Recticel: Kingspan profitability in line with expectations. Umicore: 2H23 EBITDA miss, soft 2024F outlook. Coverage change
- ING Helpdesk
- Thomas Vranken
Mithra 30-day cash runway
Mithra's cash levels have continued to dwindle in recent months, and the company now indicates runway until early March. While no major deal announcements (e.g., US Donesta licensing, sale of CDMO and therapeutics businesses) have come through so far and with few short-term financing options available, combined with its pledged asset risk, we take precautionary measures. We adjust our TP from € 1.70 to € 1.00 and move from a Hold to a Reduce rating.
- Guy Sips
- Lynn Hautekeete
- Thomas Vranken
- Wim Hoste
- Wim Lewi
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