Deinove

EG: ALDEI

€25.6m market cap

€1.62 last close

Deinove is a biotech company that discovers, develops and manufactures compounds of industrial interest stemming from rare bacteria and intended for the health, nutrition and beauty markets.

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. 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. The company raised €8.5m in 2018 and renewed the equity line with Kepler Cheuvreux 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)
2016A 0.8 (6.4) (7.7) (72.59) N/A N/A
2017A 0.2 (8.5) (9.7) (67.69) N/A N/A
2018E 0.7 (9.0) (10.1) (62.19) N/A N/A
2019E 1.1 (12.0) (13.3) (68.98) N/A N/A
Last updated on 22/03/2019
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 22/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (€m) 3.7
Forecast gearing ratio (%) 182
Price performance
%
1m
3m
12m
Actual 8.0 11.7 (59.6)
Relative* 7.1 (0.4) (59.8)
52-week high/low €4.0/€1.4
*% relative to local index
Key management
Dr Philippe Pouletty Chairman
Emmanuel Petiot CEO
Julien Coste CFO