ASIT biotech

EU: ASIT

€23m market cap

€1.19 last close

ASIT biotech is a clinical-stage company focused on developing therapies for allergies. It uses its proprietary ASIT+ technology platform to develop products containing highly purified allergen fragments in an adjuvant-free formulation, selected to be safe while maintaining the capacity to stimulate the immune system.

Investment summary

ASIT has announced renewed focus on its most advanced product, gp-ASIT+ for grass pollen allergies, which coincides with some changes in senior management. The increased focus has been well received by shareholders and, while our model changes to reflect the reduced future spend on the early-stage products, the products’ potential for cash flow generation remains as ASIT has also announced an emphasis on out-licensing and co-development for its earlier-stage products.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2016A 0.0 (12.3) (12.3) (110.00) N/A N/A
2017A 0.0 (12.0) (12.0) (93.60) N/A N/A
2018E 0.0 (13.3) (13.3) (81.89) N/A N/A
2019E 0.0 (15.6) (15.5) (88.44) N/A N/A
Last updated on 19/02/2019
Industry outlook

Although grass pollen and house dust mite allergies are not life-threatening in most cases, they result in a significant symptom burden for affected patients. With a safe and effective four-dose regimen, ASIT could expect some usage in the less-severe segment where currently a regimen of many doses does not balance the risk-benefit.

Last updated on 19/02/2019
Sector
Healthcare
Share price graph
Price performance
%
1m
3m
12m
Actual (17.4) (40.2) (73.3)
Relative* (19.7) (41.6) (70.7)
52-week high/low €4.5/€1.1
*% relative to local index
Key management
Michel Baijot CEO
Yves Desiront CFO
Philippe Ghem Chief Commercial Officer