Last close As at 05/08/2026
CHF50.70
▲ 0.20 (0.40%)
Market capitalisation
CHF681m
Research: Healthcare
In the lead up to its capital markets day, Basilea Pharmaceutica announced it has received initial funding of up to US$0.9m through a grant from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X), a global non-profit partnership backed by governments and foundations, for its preclinical antibiotics program. CARB-X is focused on supporting early-stage antibacterial research and development, and this grant is expected to support development work up until clinical candidate nomination in H224, with potential additional funding subject to achieving certain milestones. 2024 is shaping up to be an active year for Basilea, following the recent FDA approval and anticipated subsequent commercial launch of Zevtera in the US, as well as the initiation of Phase III studies for newly acquired antifungal asset Fosmanogepix (mid-2024).
Written by
Basilea Pharmaceutica |
CARB-X grant for preclinical programs |
Grant update |
Pipeline update |
Pharma and biotech |
10 April 2024 |
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Analysts
Basilea Pharmaceutica is a research client of Edison Investment Research Limited |
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In the lead up to its capital markets day, Basilea Pharmaceutica announced it has received initial funding of up to US$0.9m through a grant from Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator (CARB-X), a global non-profit partnership backed by governments and foundations, for its preclinical antibiotics program. CARB-X is focused on supporting early-stage antibacterial research and development, and this grant is expected to support development work up until clinical candidate nomination in H224, with potential additional funding subject to achieving certain milestones. 2024 is shaping up to be an active year for Basilea, following the recent FDA approval and anticipated subsequent commercial launch of Zevtera in the US, as well as the initiation of Phase III studies for newly acquired antifungal asset Fosmanogepix (mid-2024).
Year end |
Revenue (CHFm) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/22 |
147.8 |
12.3 |
104.1 |
0.0 |
39.6 |
N/A |
12/23 |
157.6 |
10.8 |
89.7 |
0.0 |
46.0 |
N/A |
12/24e |
187.2 |
28.0 |
233.6 |
0.0 |
17.7 |
N/A |
12/25e |
209.1 |
32.3 |
269.2 |
0.0 |
15.3 |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
The past year for Basilea was defined by the company building its anti-infectives pipeline in an effort to secure future growth as its lead asset, Cresemba, matures. The company’s latest pre-clinical antibiotics program was acquired in January 2024 from Spexis for a total consideration of up to CHF2m and targets disruption of part of the lipopolysaccharide transport bridge (by targeting the protein LptA), an essential component of the outer membrane in gram-negative bacteria (GNB). Potentially first-in-class, these compounds have demonstrated in vitro and in vivo activity against GNB such as those implicated in severe Enterobacteriaceae infections. These comprise E. coli and K. pneumoniae, including treatment resistant strains. GNB are characterised by their protective outer cell wall, affording them greater resistance to current antibiotic treatments. The novel mechanism of action of LptA inhibition aims to overcome this limitation, and should support a differentiated competitive profile, in our opinion, provided there is clinical success. This drug class will be positioned as a hospital-based treatment, for severe infections caused by GNB.
CARB-X is a global non-profit partnership backed by governments and foundations focused on supporting early-stage antibacterial research and development. The initial grant of up to US$0.9m will be used to support pre-clinical work through to clinical candidate selection (expected in H224), and can be enhanced to support further development activity, provided certain milestones are met.
2024 is shaping up to be an active year for Basilea, led by the recent FDA approval of Zevtera, to be followed by finalisation of a US commercial partner (anticipated by mid-2024), and the initiation of Phase III trials for fosmanogepix (mid-2024: candidemia/invasive candidiasis, and end-2024: invasive mold infections), touted to be the successor to Cresemba. The other antibacterial compound in the pipeline, tonabacase, will undergo several preclinical studies during the year, potentially followed by a Phase II study in 2025. The antifungal treatment, BAL2062 is expected to enter Phase II studies in H125. We look forward to Basilea providing further updates on its pipeline at the upcoming capital markets day (11 April 2024).
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Research: Healthcare
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