Herantis Pharma

OMX: HRTS

€27.5m market cap

€5.6 last close

Herantis Pharma is a Finnish innovative biopharmaceutical company focusing on regenerative medicines for unmet needs. Key assets include CDNF for Parkinson’s disease and Lymfactin for breast cancer associated lymphedema.

Investment summary

Herantis Pharma is focused on the development of innovative regenerative medicines targeting unmet needs. Its two lead assets are cerebral dopamine neurotrophic factor (CDNF), a potential disease-modifying treatment for Parkinson’s disease (PD), and Lymfactin, the only gene therapy in development for breast cancer-related associated (BCAL) secondary lymphedema. The underlying science for both is novel and positive efficacy/safety data from ongoing proof-of-concept clinical trials expected in 2019–20 would serve as validation of the research efforts and additionally could crystallise value through partnering opportunities for these unique assets. We value Herantis Pharma at €9.3/share.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2016A 0.0 N/A (4.4) (107.5) N/A N/A
2017A 0.0 N/A (0.1) (3.2) N/A N/A
2018E 0.0 N/A (3.2) (64.5) N/A N/A
2019E 0.0 N/A (3.4) (68.2) N/A N/A
Last updated on 18/02/2019
Industry outlook

Herantis Pharma is focused on the development of innovative regenerative medicines targeting unmet needs. Key assets include CDNF for Parkinson’s disease and Lymfactin for breast cancer associated lymphedema.

Last updated on 18/02/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (€m) 4.5
Forecast gearing ratio (%) 487
Price performance
%
1m
3m
12m
Actual 0.9 (6.7) (15.8)
Relative* (2.4) (10.8) (14.3)
52-week high/low €7.5/€4.8
*% relative to local index
Key management
Pekka Simula CEO
PeHenrikka Huttunen CSO