Stock data
| Market cap. | €36.5m |
| Last close | €0.07 |
| High / Low (52 weeks) | €0.2 / €0.1 |
| Stock market listing | AMS |
| Forecast net debt (€m) | 14.1 |
| Forecast gearing ratio (%) | 281 |
| Team | Healthcare |
| Sector | Pharmaceutical & Healthcare |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (13.75) | (25.8065) | (65.5) |
| Relative * | (17.682) | (31.7744) | (60.8559) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (€m) | EBITDA (€m) | PBT (€m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 1.1 | (26.7) | (31.1) | (27.0) | N/A | N/A |
| 2010A | 1.8 | (3.7) | (20.7) | (3.9) | N/A | N/A |
| 2011E | 8.4 | (15.1) | (15.7) | (3.4) | N/A | N/A |
| 2012E | 9.6 | (14.9) | (15.6) | (3.4) | N/A | N/A |
Last updated on 06/12/2011
Latest research
Slow sales start
Update | Pharmaceutical & Healthcare | 17/05/2011
Schone balans
Update | Pharmaceutical & Healthcare | 07/03/2011
Niet-onderdanige FDA
Update | Pharmaceutical & Healthcare | 01/03/2011
Socius as santa
Update | Pharmaceutical & Healthcare | 06/12/2010
Prophylactic possibilities
Update | Pharmaceutical & Healthcare | 01/12/2010
Land of milk and money
Update | Pharmaceutical & Healthcare | 02/11/2010
High-value US deal
Update | Pharmaceutical & Healthcare | 13/09/2010
FDA sets a BLA route
Update | Pharmaceutical & Healthcare | 27/08/2010
Oktober cash jacht
Update | Pharmaceutical & Healthcare | 27/07/2010
Ruconest gefeliciteerd
Update | Pharmaceutical & Healthcare | 30/06/2010
Judgement in June
Review | Pharmaceutical & Healthcare | 17/06/2010
October sales?
Update | Pharmaceutical & Healthcare | 29/03/2010
Investment summary
The Q3 results showed YTD revenue of €2.3m mainly from recognition of 2010 income from license partners. Sobi disclosed end-user sales YTD of SEK1m. Operating costs were €15.1m, in line with 2010 ongoing expenses after discontinued DNage costs. The loss was €13.3m. Cash was €9.8m giving funding into Q212. The deal with Sobi was restructured during August, with more territories added. As reimbursement is agreed with individual EU countries and Holland has been added, sales of Ruconest should steadily develop. The FDA-required Phase III Rhucin trial is underway for a H212 reporting date. This could trigger a 2012 $10m milestone plus a $5m fee on FDA acceptance of the BLA, probably Q113.
Last updated on 09/12/2011
Industry outlook
Cinryze has approval for a combined acute and prophylactic use is being EU marketed. US prophylaxis sales in 2011 will be $260m. Dyax's Kalbitor US sales YTD were $15.9m with $24m expected for 2011. Shire's Firazyr sold $11m in the EU, up 88%, and was given FDA approval in 25 August.
Last updated on 09/12/2011
Key management
| Sijmen de Vries, CEO |
| Karl Keegan , FD |
Company address
| Darwinweg 24 2333 CR Leiden Leiden Netherlands +31 (0)71 5247 400 View website |
