€142.3m market cap
€5.35 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 NanoTherm nanoparticle-based therapy for cancer. MagForce has three centres in Germany that are commercially capable of treating glioblastoma patients. To accelerate uptake in Europe, MagForce is expanding from Germany into other countries with a loan of up to €35m from the European Investment Bank. Installation of the first device in Lublin, Poland has been achieved, with further expansion anticipated in 2019. In the US, its subsidiary MagForce USA has initiated a pivotal clinical trial for prostate cancer. Proceeds from the MagForce USA capital increase ($9m gross) in August will finance the trial to completion, with commercial treatments potentially starting in Q419 (following regulatory approval).
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2016A | 0.5 | (6.6) | (7.2) | (27.8) | N/A | N/A |
| 2017A | 0.7 | (6.7) | (7.5) | (28.3) | N/A | N/A |
| 2018E | 0.3 | (10.2) | (11.4) | (43.2) | N/A | N/A |
| 2019E | 5.8 | (7.8) | (9.1) | (34.4) | N/A | N/A |
| Last updated on 19/03/2019 | ||||||
Industry outlook
MagForce’s NanoTherm therapy has been designed to directly affect tumours from within, while sparing surrounding healthy tissue. Magnetic nanoparticles are directly injected into a tumour and are then heated in the presence of an external magnetic field generated by specialist equipment (NanoActivator). This can destroy or sensitise the tumour for additional treatment.
Last updated on 19/03/2019
Sector |
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| Healthcare |
Share price graph
Balance sheet |
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| Forecast net debt (€m) | 13.8 |
| Forecast gearing ratio (%) | 111 |
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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