Basilea Pharmaceutica (SIX: BSLN)

Currency in CHF

Last close As at 06/12/2023

CHF34.45

−0.45 (−1.29%)

Market capitalisation

CHF451m

Basilea Pharmaceutica is focused on treating infectious diseases. Its marketed products are Cresemba (an antifungal) and Zevtera (an anti-MRSA broad-spectrum antibiotic).

There is an ever-increasing need for therapeutic agents that are efficacious against drug-resistant strains of bacteria (eg MRSA) or fungi. Hence the opportunities for Zevtera and Cresemba could be significant.

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misael-moreno-fN6K30xtiKE-unsplash-Basilea

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Key Management

  • Adesh Kaul

    CFO

  • David Veitch

    CEO

  • Dung Tran

    Investor relations coordinator

Balance Sheet

Forecast net debt (CHFm)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (4.6) (27.3) (28.7)
Relative (8.3) (27.8) (28.0)
52 week high/low CHF55.2/CHF34.5

Financials

Basilea’s commercial portfolio is comprised of Cresemba (an antifungal) and Zevtera (an antibiotic). Cresemba is approved in 75 countries (marketed in 67 countries) and has Orphan Drug designation in the US, Europe and Australia. Zevtera is marketed in selected countries in Europe, Latin America, the Middle East, North Africa and Canada; the pending US approval remains a key strategic priority (the FDA has set a PDUFA goal date of 3 April 2024). In recent months, Basilea has introduced several new assets to re-stock its clinical pipeline. Most notably, fosmanogepix is a broad-spectrum antifungal therapy, for which, management intends to initiate Phase III trials from mid-2024. The company reported strong H123 results, with 47.3% y-o-y revenue growth to CHF84.9m, mainly led by higher royalty income and milestone payments related to Cresemba and Zevtera sales. Basilea has also recently shared FY23 revenue and operating profit guidance of CHF154–157m and CHF11–55m, respectively.

Y/E Dec Revenue (CHFm) EBITDA (CHFm) PBT (CHFm) EPS (CHFc) P/E (x) P/CF (x)
2021A 148.1 1.9 (6.6) (56.90) N/A N/A
2022A 147.8 19.6 12.3 104.10 33.1 N/A
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A

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