Last close As at 05/08/2026
CHF50.70
▲ 0.20 (0.40%)
Market capitalisation
CHF681m
Research: Healthcare
Basilea Pharmaceutica has announced an asset purchase agreement with the Glioblastoma Foundation for lisavanbulin (BAL101553), the remaining drug candidate from its oncology portfolio. Basilea’s other oncology assets were offloaded in 2022 (for initial consideration of CHF15m) following the company’s decision to right-size and focus exclusively on its anti-infectives franchise. Lisavanbulin is a tumour checkpoint controller and was being evaluated as a treatment for glioblastoma before Basilea decided to cease development following the strategic pivot. The initial purchase price is undisclosed, although Basilea will be eligible for a fixed double-digit share of any subsequent commercial partnerships.
Written by
Basilea Pharmaceutica |
Final oncology asset (lisavanbulin) divested |
Pipeline update |
Pipeline update |
Pharma and biotech |
21 June 2024 |
Share price performance
Business description
Analysts
Basilea Pharmaceutica is a research client of Edison Investment Research Limited |
||||||||||||||||||||||||||||||||||||
Basilea Pharmaceutica has announced an asset purchase agreement with the Glioblastoma Foundation for lisavanbulin (BAL101553), the remaining drug candidate from its oncology portfolio. Basilea’s other oncology assets were offloaded in 2022 (for initial consideration of CHF15m) following the company’s decision to right-size and focus exclusively on its anti-infectives franchise. Lisavanbulin is a tumour checkpoint controller and was being evaluated as a treatment for glioblastoma before Basilea decided to cease development following the strategic pivot. The initial purchase price is undisclosed, although Basilea will be eligible for a fixed double-digit share of any subsequent commercial partnerships.
Year end |
Revenue (CHFm) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/22 |
147.8 |
12.3 |
104.1 |
0.0 |
39.0 |
N/A |
12/23 |
157.6 |
10.8 |
89.7 |
0.0 |
45.3 |
N/A |
12/24e |
187.2 |
28.0 |
233.6 |
0.0 |
17.4 |
N/A |
12/25e |
209.1 |
32.3 |
269.2 |
0.0 |
15.1 |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Lisavanbulin was one of five oncology programmes in Basilea’s portfolio and the only one remaining to be divested. In June 2022, Basilea decided to return the rights to Phase I/II asset derazantinib (an FGFR inhibitor targeting urothelial cancer, gastric cancer and intrahepatic cholangiocarcinoma) to Merck and in September 2022, it sub-licensed the Phase I-ready BAL0891 (a TTK/PLK1 kinase inhibitor targeting advanced solid tumours) to SillaJen for an upfront payment of US$14m. Preclinical programmes were sold to Nodus Oncology in September 2022 (PARG inhibitor programme, for an upfront payment of CHF0.5m) and Redona Therapeutics in November 2022 (CLK kinase inhibitor programme; upfront payment of CHF1m).
Lisavanbulin, which was being evaluated by Basilea as a potential treatment for glioblastoma in two clinical studies (as a monotherapy and in combination with radiotherapy), had shown activity against brain cancer, with the ability to cross the blood-brain barrier. However, further development work was put on hold after the company’s decision to focus on its anti-infectives portfolio. Following the deal, the Glioblastoma Foundation has taken over complete rights to lisavanbulin and will undertake further development work. The initial purchase price remains undisclosed, but we note that Basilea will be entitled to a fixed double-digit share of any proceeds from a subsequent commercial agreement for the asset.
Basilea’s decision to focus exclusively on its anti-infectives portfolio has been positive, allowing it to optimise its pipeline for long-term growth and supporting it to turn profitable in 2022. Lead antifungal asset Cresemba continues to register strong demand momentum and the imminent US entry of Zevtera (the lead antibacterial asset) is a key upcoming milestone, in our opinion. We also look forward to the initiation of a Phase III clinical trial for fosmanogepix, a novel broad-spectrum antifungal therapy (with activity against both yeast and mould infections, including multidrug-resistant fungi) believed to be a successor to Cresemba, as it approaches maturity. The first Phase III study for the treatment of candidemia and invasive candidiasis is expected to commence by mid-2024 followed by the second study by end-2024, for the treatment of mould infections.
|
|
Research: Industrials
Amoéba has achieved promising results for the use of its amoeba-based active ingredient in skincare cosmetics in a series of lab and human volunteer trials. In addition, the company secured regulatory approval in the United States and a recommendation for approval in the European Union in 2022 for the active ingredient used in its innovative biological fungicides. Since then, it has tested this active ingredient in standalone and blended use and hopes to achieve product approvals by H125. Amoéba will focus on high-value, high-margin markets in both potential biological fungicide and emerging cosmetic applications.