Nuevolution

OMX: NUEV

SEK1599.7m market cap

SEK32.3 last close

Nuevolution is a Copenhagen-based biopharmaceutical company. Its patent protected Chemetics drug discovery platform enables the selection of drugs to an array of tough-to-drug disease targets. To date it has entered into 17 agreements with major pharmaceutical companies.

Investment summary

Nuevolution’s proprietary Chemetics DNA-encoded screening platform technology enables fast and accurate small molecule drug discovery. Nuevolution has continued to build and strengthen its pipeline of preclinical assets throughout 2018, which it aims to monetise in the near term via out-licensing deals. The technology has received powerful external validation, including three collaborations (Amgen, Almirall and Janssen) that could generate significant value in the coming years. We expect Nuevolution to see at least one internally generated asset progress into clinical development in the near future. As of 31 December, Nuevolution had net cash of SEK108m.

Y/E Dec
Revenue (SEKm)
EBITDA (SEKm)
PBT (SEKm)
EPS (öre)
P/E (x)
P/CF (x)
2017A 12.2 N/A (123.8) (269.0) N/A N/A
2018A 11.0 N/A (107.3) (209.3) N/A N/A
2019E 202.4 N/A 87.2 107.5 30.0 28.3
2020E 336.6 N/A 220.9 272.2 11.9 11.2
Last updated on 23/05/2019
Industry outlook

Significant promise is seen in DNA-encoded libraries due to the potential to rapidly develop small molecule drugs to ‘tough-to-drug’ targets. We continue to see major investment in the space from an array of companies, notably GSK, Roche and Novartis.

Last updated on 23/05/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (SEKm) 163.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 161.5 146.9 67.5
Relative* 174.6 147.5 66.5
52-week high/low SEK32.3/SEK10.7
*% relative to local index
Key management
Alex Gouliaev CEO
Johnny Stilou CFO
Thomas Franch Chief Scientific Officer
Ton Berkien Chief Business Officer