Deinove

EG: ALDEI

€13.1m market cap

€0.79 last close

Deinove is a biotechnology company that discovers, develops and produces high value-added compounds using its state-of-the-art bacterial strain selection, banking, fermentation and screening facilities. The most valuable compounds in the pipeline are novel antimicrobials, with lead asset DNV3837 ready for Phase II trial.

Investment summary

FY18 has been a pivotal year for Deinove with the launch of two products in its cosmetic division and a number of deals. These include the acquisition of Morphochem’s clinical-stage antibiotic DNV3837 (formerly MCB3837) and R&D collaboration agreements with Naicons, bioMérieux and Calibr. More recently, Deinove signed a collaboration agreement with the Institut Pasteur and a product development collaboration with Dow. The launch of a second, internally developed carotenoid product is planned in 2019, while the initiation of the Phase II trial with DNV3837, expected later this year, will be a milestone R&D event. In July 2019, Deinove raised new funds by issuing convertible notes for up to €15m to enable it to launch a Phase II clinical trial for the Morphochem compound and finance its other activities.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.2 (8.5) (9.7) (67.69) N/A N/A
2018A 0.8 (9.4) (10.5) (61.25) N/A N/A
2019E 1.1 (11.8) (13.2) (64.88) N/A N/A
2020E 2.9 (11.0) (12.4) (56.93) N/A N/A
Last updated on 21/10/2019
Industry outlook

Environmentalism will underpin growth in green chemistry and growing antimicrobial resistance to current antibiotics will demand the discovery of new antibiotic structures.

Last updated on 21/10/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (€m) 14.7
Forecast gearing ratio (%) 164
Price performance
%
1m
3m
12m
Actual 0.1 (30.0) (65.2)
Relative* 0.8 (31.2) (68.2)
52-week high/low €2.3/€0.6
*% relative to local index
Key management
Dr Philippe Pouletty Chairman
Emmanuel Petiot CEO
Julien Coste CFO