Polyphor

SW: POLN

Market CapCHF26.6m

Last Close CHF2.26

Polyphor is a development stage company focused on oncology and antibiotics. Lead programme balixafortide is a CXCR4 inhibitor in Phase III for breast cancer. Data are expected in 2021. It has approval to initiate its Phase I programme of inhaled murepavadin to treat P. aeruginosa infections in CF patients.

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Investment summary

Polyphor is a development-stage company focused on oncology and antibiotics. Its lead programme is balixafortide, a C-X-C chemokine receptor type 4 (CXCR4) inhibitor currently in a randomised-controlled Phase III trial in 432 previously treated human epidermal growth factor receptor 2 (HER2) negative advanced breast cancer patients. The company announced in June that the co-primary endpoint of the study, objective response rate, was not met. The company is in the process of winding down the study and is conducting a strategic review which is expected to be completed by the end of August.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2019A 0.0 (64.9) (64.2) (581.19) N/A N/A
2020A 14.3 (42.4) (43.0) (386.81) N/A N/A
2021E 0.0 (44.8) (45.4) (398.54) N/A N/A
2022E 0.0 (41.1) (41.7) (362.63) N/A N/A
Industry outlook

According to the National Cancer Institute, 78% of the estimated 276,480 new cases of breast cancer every year are HER2 negative. For those who are HER2 negative and hormone-receptor positive (68% of breast cancers), chemotherapy remains the standard of care in over 90% of cases once past front-line therapy.

Last updated on 03/09/2021
Content on Polyphor
Polyphor – Phase III ORR data on track for Q221
Healthcare | Update | 9 March 2021
close up test tubes
Polyphor – executive interview
Healthcare | Edison TV | 18 November 2020
Polyphor – Balixafortide Phase III data coming soon
Healthcare | Initiation | 5 October 2020
close up test tubes
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Share price graph
Balance sheet
Forecast net debt (CHFm) 10
Forecast gearing ratio (%) 34
Price performance
%
1m
3m
12m
Actual 15.9 (67.7) (69.5)
Relative* 14.1 (69.9) (74.7)
52-week high/low CHF8.9/CHF1.6
*% relative to local index
Key management
Gökhan Batur CEO
Hernan Levett CFO
Martin Jakobovic Business planning analyst