NeuroVive Pharmaceutical

US: NVP

SEK301.2m market cap

SEK1.62 last close

NeuroVive Pharmaceutical is a Swedish biopharmaceutical company with deep expertise in mitochondrial medicine. It has a diversified portfolio in terms of indications and employs a dual strategy: it develops a core portfolio of assets for orphan diseases and seeks to out-license proprietary products for non-orphan indications.

Investment summary

NeuroVive’s core R&D assets in genetic mitochondrial diseases have made steady progress over the past several months. Notable newsflow includes KL1333 proceeding to the second part of its study and NeuroSTAT receiving the FDA’s fast track designation. Potential near-term milestones include initial results from KL1333 Phase Ia/b, a non-dilutive financing solution to enable the start of the NeuroSTAT Phase II clinical trial and an out-licensing of NV556. Our updated valuation is slightly higher at SEK1.63bn or SEK8.8/share.

Y/E Dec
Revenue (SEKm)
EBITDA (SEKm)
PBT (SEKm)
EPS (öre)
P/E (x)
P/CF (x)
2017A 0.6 (67.9) (70.1) (149.31) N/A N/A
2018A 2.5 (66.7) (68.8) (94.07) N/A N/A
2019E 1.5 (94.0) (94.1) (64.97) N/A N/A
2020E 1.5 (117.8) (117.9) (66.17) N/A N/A
Last updated on 16/09/2019
Industry outlook

NeuroVive has a diversified portfolio with all assets aimed at improving mitochondrial metabolism and function. We feel this puts NeuroVive among the very few experts in mitochondrial medicine.

Last updated on 16/09/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (SEKm) 40
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (9.5) 38.9 (54.1)
Relative* (15.2) 34.4 (55.5)
52-week high/low SEK3.8/SEK1.2
*% relative to local index
Key management
Mark Farmery Chairman
Erik Kinnman CEO
Catharina Jz Johansson CFO
Eskil Elmér Chief Scientist Officer
Magnus Hansson Chief Medical Officer