Vivesto

Stockholm: VIVE

Market CapSEK558m

Last Close SEK1.04

Vivesto is a Swedish speciality pharma company focusing on its proprietary XR-17 technology platform to develop novel formulations of well-established cytostatic oncology treatments for human and animal health. Key assets include Apealea (partnered with Elevar), docetaxel micellar and Cantrixil.

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Investment summary

Vivesto is focused on developing improved formulations of well-established cancer drugs through the application of its proprietary XR-17 platform. This solubility enhancing technology has received validation though a global partnership deal for lead asset Apealea (Cremophor-free paclitaxel) with Elevar Therapeutics across a variety of cancers. Apealea is approved in Europe for second-line ovarian cancer and will be launched by Inceptua in H122. Additional studies are expected to be required before an NDA filing in the United States. Vivesto is working on additional nanoparticle formulations, including docetaxel micellar (Phase Ib prostate cancer) and the development of innovative drugs (preclinical stage). In-licensed asset Cantrixil is expected to start Phase II development in ovarian cancer. In March, Vivesto completed a rights issue raising gross proceeds of c SEK151m, our forecasts are under review.

Y/E Dec
Revenue (SEKm)
EBITDA (SEKm)
PBT (SEKm)
EPS (öre)
P/E (x)
P/CF (x)
2020A 201.8 N/A (57.5) (13.0) N/A N/A
2021A 26.2 N/A (132.7) (30.0) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A
Industry outlook

Despite a slew of novel cancer drugs transforming care for many oncology indications, established chemotherapy regimens remain a cornerstone of treatment. Vivesto’s XR-17 technology is applicable to any solubility limited drug, which includes 10–15 different cytostatic agents, and can potentially provide an improved formulation and profile.

Last updated on 24/05/2022
Content on Vivesto
Oasmia Pharmaceutical – Delivering on promises
Healthcare | research Flash note | 25 February 2022
B56C9260-77A1-4FDB-AD0D-3D7F1C7781D7
Oasmia Pharmaceutical: Edison Open House Healthcare 2022
Healthcare | Edison TV | 9 February 2022
Oasmia Pharmaceutical – executive interview
Healthcare | Edison TV | 27 January 2022
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Share price graph
Balance sheet
Forecast net debt (SEKm) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (25.4) (33.5) (65.9)
Relative* (20.2) (30.8) (61.9)
52-week high/low SEK3.2/SEK1.0
*% relative to local index
Key management
Francois Martelet CEO
Fredrik Järrsten CFO