€118.4m market cap
€8.49 last close
Celyad is developing an innovative Natural Killer Receptor CAR T-cell therapy (CYAD-01). This focuses on AML and metastatic colorectal cancer. A comprehensive set of clinical studies is underway.
Investment summary
Data in December confirmed that CYAD-01 T-cells can destroy acute myeloid leukaemia (AML) cells. CYAD-01 showed 62% (5/8) anti-leukemic activity across three dose levels including 38% (3/8) with some form of complete response; a further MDS CR is reported. Safety was excellent. Further data are promised in mid-19. Celyad is aiming to accelerate CYAD-01 development for the treatment of AML and MDS, and to initiate a Phase 2 trial in H2 2019. In solid cancers, a study combining CYAD-01 with preconditioning is underway and may be crucial. The alloSHRINK allogeneic (CYAD-101) trial in mCRC is underway. This gives Celyad the lead in mass-market allogeneic therapy for solid cancer. Celyad had €55.9m cash on 30 Sept.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2016A | 8.5 | (21.2) | (20.0) | (209.0) | N/A | N/A |
| 2017A | 3.5 | (22.3) | (26.8) | (279.0) | N/A | N/A |
| 2018E | 0.0 | (26.5) | (27.3) | (243.0) | N/A | N/A |
| 2019E | 0.0 | (27.8) | (28.5) | (238.0) | N/A | N/A |
Industry outlook
CAR T-cell therapeutics have seen low sales and shift in interest to bi-specific therapies. There is still strong interest in allogeneic products, where Celyad holds a key patent. Celyad remains in a key position in both AML and mCRC with a strong programme in solid cancers.
Last updated on 11/11/2019
Sector |
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| Healthcare |
Share price graph
Balance sheet |
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| Forecast net cash (€m) | 45.9 |
| Forecast gearing ratio (%) | N/A |
Price performance
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Key management |
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|---|---|
| Michel Lussier | Chairman |
| Dr Christian Homsy | CEO |
| Filippo Petti | CFO |
| Dr Gaëtane Metz | COO |
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