Basilea Pharmaceutica

Investment summary

Basilea has two approved hospital-based products: Cresemba (severe mould infections) and Zevtera (bacterial infections). Multiple licensing/distribution agreements are in place for Cresemba and Zevtera and should drive top-line growth, including Pfizer and Astellas, which market Cresemba in Europe (ex Nordics) and the US, respectively. In August, Basilea reported positive top-line data for Zevtera in the first cross-supportive Phase III study TARGET; top-line data from the ERADICATE study are expected H221, both are required for a US FDA submission. Basilea’s oncology pipeline is spearheaded by derazantinib (pan-FGFR inhibitor), which is in a Phase II registration study for intrahepatic cholangiocarcinoma. A Phase I/II study for derazantinib in patients with advanced urothelial cancer has now been initiated, using both a monotherapy and combination approach with Roche’s PD-L1 antibody atezolizumab (Tecentriq).