NeuroVive Pharmaceutical

US: NVP

SEK245.1m market cap

SEK1.29 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

On 9 October 2019, NeuroVive held its capital markets day. Management presented its strategic focus on the company's primary mitochondrial disease programmes, high unmet medical need in this area and advantages of the orphan drug development compared to drugs for common diseases. As expected, no major new details were disclosed. We note an interesting presentation on regulatory perspectives on orphan drug development by NeuroVive’s clinical and regulatory affairs director, Matilda Hugerth. It is not that often investors have straightforward access to expert knowledge about such a specialised topic presented in a clear format. Our valuation is unchanged 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
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 13/11/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (SEKm) 40
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (12.1) (30.3) (51.4)
Relative* (16.8) (38.8) (59.2)
52-week high/low SEK3.0/SEK1.2
*% relative to local index
Key management
David Laskow-Pooley Chairman
Erik Kinnman CEO
Catharina Jz Johansson CFO
Eskil Elmér Chief Scientist Officer
Magnus Hansson Chief Medical Officer