Polyphor

SW: POLN

CHF90.7m market cap

CHF8.1 last close

Polyphor is a development stage company focused on oncology and antibiotics. Its lead programme is balixafortide, a CXCR4 inhibitor currently in Phase III for breast cancer. Data are expected in 2021. It plans to start its Phase I programme of inhaled murepavadin to treat P. aeruginosa infections in CF patients by the year end.

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 407 previously treated human epidermal growth factor receptor 2 (HER2) negative advanced breast cancer patients. Objective response rate (ORR) data from the trial are expected in Q221 and could allow for an accelerated approval filing in the US. Additionally, it plans to start its Phase I programme of inhaled murepavadin to treat P. aeruginosa infections in cystic fibrosis (CF) patients by the end of the year.

Y/E Dec
Revenue (CHFm)
EBITDA (CHFm)
PBT (CHFm)
EPS (CHFc)
P/E (x)
P/CF (x)
2018A 6.5 (41.6) (45.6) (484.0) N/A N/A
2019A 0.0 (64.9) (64.2) (581.0) N/A N/A
2020E 13.7 (44.9) (45.1) (404.0) N/A N/A
2021E 0.0 (48.6) (48.8) (428.0) 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 01/12/2020
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Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (CHFm) 25.6
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (5.3) 10.7 0.9
Relative* (11.2) 7.9 (0.1)
52-week high/low CHF9.0/CHF5.0
*% relative to local index
Key management
Gökhan Batur CEO
Hernan Levett CFO
Martin Jakobovic Business planning analyst