Basilea is focused on treating infectious diseases. Its marketed products are Cresemba (an antifungal) and Zevtera (an anti-MRSA broad-spectrum antibiotic). The company now plans to file for US approval for Zevtera .
More Basilea Pharmaceutica content >Investment summary
Basilea Pharmaceutica continues its positive wave of Q322 activity with the successful asset purchase and sub-licence agreement of its tyrosine kinase/polo-like kinase 1 (TTK/PLK1) inhibitor, BAL0891, to SillaJen (a privately held South Korean biotech). The deal will see Basilea receive up to US$14m (CHF13.5m) in upfront and near-term milestones, with potential future milestone payments of up to c US$320m (c CHF310m). The company is also entitled to tiered royalties on net sales, which will range from single- to double-digit percentages. We see this latest development as a positive indicator of management delivering on its intention to separate the oncology business by end-FY22. We have updated our financials to align with company guidance and value Basilea at CHF903.5m or CHF76.3/share.
Y/E Dec |
Revenue (CHFm) |
EBITDA (CHFm) |
PBT (CHFm) |
EPS (CHFc) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 127.6 | (7.0) | (29.6) | (288.45) | N/A | N/A |
| 2021A | 148.1 | 1.9 | (6.6) | (56.90) | N/A | N/A |
| 2022E | 120.0 | (10.4) | (15.3) | (129.40) | N/A | N/A |
| 2023E | 128.8 | 13.7 | 6.4 | 47.03 | 81.4 | N/A |
Industry outlook
There is an ever-increasing need for therapeutic agents that are efficacious against drug-resistant strains of bacteria (eg MRSA) or fungi. Hence the opportunities for Cresemba and Zevtera could be significant.
Last updated on 28/09/2022Content on Basilea Pharmaceutica
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| Forecast net debt (CHFm) | 89.9 |
| Forecast gearing ratio (%) | 83 |
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Key management |
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| David Veitch | CEO |
| Adesh Kaul | CFO |
| Dung Tran | Investor relations coordinator |