ASIT biotech

EU: ASIT

€34.7m market cap

€1.79 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 Biotech’s ASIT+ short-course allergy immunotherapy (AIT) platform has generated a Phase III drug for the prevention of grass pollen allergy and earlier-stage programs in house dust mite (hdm-ASIT+) and in peanut allergies (pnt-ASIT+). Unlike most other AITs (subcutaneous or sublingual), ASIT’s products only require four injections before the allergy season. The second Phase III study for gp-ASIT+ has started and results are expected after the pollen season of 2019. We expect ASIT Biotech to self-market gp-ASIT+ in Europe and outlicense all other rights in ex-Europe. ASIT recently raised money to fully-fund its clinical programs.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2016A N/A N/A N/A N/A N/A N/A
2017A 0.0 (12.0) (12.0) (93.60) N/A N/A
2018E 0.0 (13.8) (13.8) (82.61) N/A N/A
2019E 0.0 (9.7) (9.5) (51.71) N/A N/A
Last updated on 21/03/2019
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 21/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (€m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 53.2 9.2 (53.0)
Relative* 50.3 (3.2) (49.5)
52-week high/low €4.0/€1.1
*% relative to local index
Key management
Michel Baijot CEO
Yves Desiront CFO
Philippe Ghem Chief Commercial Officer