Stock data
| Market cap. | €44.7m |
| Last close | €0.49 |
| High / Low (52 weeks) | €1.2 / €0.5 |
| Stock market listing | Euronext Brussels |
| Forecast net debt (€m) | 0.1 |
| Forecast gearing ratio (%) | 0 |
| Team | Healthcare |
| Sector | Pharmaceutical & Healthcare |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (16.9492) | (30) | (60.1626) |
| Relative * | (11.5985) | (24.8617) | (48.3474) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (€m) | EBITDA (€m) | PBT (€m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.6 | (13.8) | (13.8) | (43.6) | N/A | N/A |
| 2011A | 1.1 | (15.1) | (14.6) | (21.4) | N/A | N/A |
| 2012E | 3.2 | (12.8) | (13.3) | (14.6) | N/A | N/A |
| 2013E | 8.5 | (9.6) | (10.2) | (11.1) | N/A | N/A |
Last updated on 23/04/2012
Latest research
Thinner adipose business
Review | Pharmaceutical & Healthcare | 02/04/2012
Cells and marketing
Outlook | Pharmaceutical & Healthcare | 06/02/2012
Investment summary
TiGenix’s stem cell therapy, Cx601, enters Phase III to treat perianal fistulas in mid year. Cx611 Phase II data in autoimmune disease is due in H113. TiGenix has the only EMA approved cell therapy, ChondroCelect, to repair damaged knee cartilage. This could get an EU sales boost in 2013 if strict ATMP regulations are enforced. 2011 results showed the business is leaner and fitter; the Orthomimetics business has been written down. TiGenix is funded into 2013 but may need up to €4m from non-dilutive funding to realise Cx611 clinical goals. In the Cx611 RA trial, the highest dose cohort has been cleared as safe and is now being recruited.
Last updated on 23/04/2012
Industry outlook
ChondroCelect sells for €18,000 per implant so 1,670 implantations a year (85 in 2011) could take TiGenix to profit. In Crohn's disease, about 120,000 patients in the EU and US have fistulas. With direct EU sales from 2016 plus an anticipated US partner, Cx601 could be highly lucrative.
Last updated on 23/04/2012
Key management
| Eduardo Bravo, CEO |
| Claudia D’Augusta, CFO |
Company address
| Research park Haasrode 1724 Romeinse straat 12/2 3001 Leuven B - 3001 L Belgium +32 16 39 60 60 View website |
