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Basilea Pharmaceutica (SIX: BSLN)

Last close As at 20/11/2024

CHF40.35

▲ 0.60 (1.51%)

Market capitalisation

CHF532m

Basilea Pharmaceutica is focused on treating infectious diseases; its marketed products are Cresemba (antifungal) and Zevtera (anti-MRSA antibiotic). In late 2023, it expanded its pipeline to include fosmanogepix, BAL2062 and tonabacase. In January 2024, it acquired the preclinical LptA inhibitor antibiotics programme from Spexis.

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 Cresemba, Zevtera and fosmanogepix could be significant.

Latest Insights

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Healthcare | Flash note

Basilea Pharmaceutica — Milestone march continues for Cresemba

Healthcare | Update

Basilea Pharmaceutica — BARDA backs Basilea’s anti-infectives programme

Healthcare | Flash note

Basilea Pharmaceutica — H2 rewards continue: US$25m Cresemba milestone

Healthcare | Flash note

Basilea Pharmaceutica — EU paediatric approval triggers CHF10m milestone
misael-moreno-fN6K30xtiKE-unsplash-Basilea
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Sector

Healthcare

Equity Analyst

Arron Aatkar

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Adesh Kaul

    CFO

  • David Veitch

    CEO

Balance Sheet

Forecast net debt (CHFm)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (11.5) (9.2) 12.1
Relative (5.5) (3.5) 4.3
52 week high/low CHF47.1/CHF32.2

Financials

Basilea’s commercial portfolio comprises Cresemba (an antifungal) and Zevtera (an antibiotic). Cresemba is marketed in more than 70 countries. Zevtera is marketed in selected countries in Europe, Latin America, the Middle East, North Africa and Canada. In April 2024, the FDA approved Zevtera for the US, the most lucrative market for the antibiotic; details on the US commercial partner are expected in 2024. Basilea has also re-stocked its clinical and preclinical pipeline. Notably, fosmanogepix is a broad-spectrum antifungal therapy, for which the first of two Phase III trials launched in September 2024. The company reported strong H124 results, with revenues of CHF76.3m and H2-weighed milestone payments (including US$25m from Pfizer in September). Following the recent BARDA agreement (up to US$268m across the 12-year agreement), management upgraded guidance for FY24 (group revenues of CHF203m vs CHF196m previously).

Y/E Dec Revenue (CHFm) EBITDA (CHFm) PBT (CHFm) EPS (CHFc) P/E (x) P/CF (x)
2022A 147.8 19.6 12.3 104.10 38.8 N/A
2023A 157.6 20.8 10.8 89.66 45.0 N/A
2024E 203.0 44.1 38.9 499.44 8.1 N/A
2025E 219.1 55.5 50.7 419.42 9.6 N/A

Research

Update

Healthcare

Basilea Pharmaceutica — BARDA backs Basilea’s anti-infectives programme

Flash note

Healthcare

Basilea Pharmaceutica — H2 rewards continue: US$25m Cresemba milestone

Healthcare

Flash note

Basilea Pharmaceutica — Milestone march continues for Cresemba
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Further insights

insight

Healthcare

Antibiotic resistance

insight

Healthcare

Antibiotics

Thematics

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