€134.6m market cap
€5 last close
MagForce has a European approved nanotechnology-based therapy to treat brain cancer. Nanoparticles are injected into the tumour and activated by an external magnetic field, producing heat and thermally destroying or sensitising the tumour.
Investment summary
MagForce is progressing its strategy to drive uptake and acceptance (in the US and Europe) of its nanoparticle-based therapy for cancer. MagForce has recently expanded from Germany into Poland and will have four centres in Europe that are commercially capable of treating glioblastoma patients by end-2019. A loan of up to €35m from the European Investment Bank and €5m gross proceeds from a recent private placement will continue to fund the roll-out. A pivotal clinical trial for prostate cancer is ongoing in the US, with commercial treatments potentially starting in Q420 following regulatory approval; the opportunity in the US will become a significant driver for growth in the long term.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 0.7 | (8.8) | (9.5) | (36.0) | N/A | N/A |
| 2018A | 0.1 | (7.1) | (8.7) | (32.8) | N/A | N/A |
| 2019E | 0.7 | (9.6) | (10.5) | (38.7) | N/A | N/A |
| 2020E | 2.9 | (5.3) | (6.6) | (23.7) | N/A | N/A |
| Last updated on 19/07/2019 | ||||||
Industry outlook
MagForce’s NanoTherm therapy is designed to directly target cancerous tissue while sparing surrounding healthy tissue. Magnetic nanoparticles are directly instilled into a tumour or a resection cavity and activated by specialist equipment (NanoActivator). This can either thermally ablate tumours or sensitise them to other treatments (chemotherapy or radiotherapy).
Last updated on 19/07/2019
Sector |
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| Healthcare |
Share price graph
Balance sheet |
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|---|---|
| Forecast net debt (€m) | 20.2 |
| Forecast gearing ratio (%) | 160 |
Price performance
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Key management |
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|---|---|
| Ben Lipps | Chairman & CEO |
| Christian von Volkmann | CFO |
| Barbara von Frankenberg | VP Communications & Investor Relations |
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