Basilea Pharmaceutica - Edison Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

11.10.24

Basilea Pharmaceutica — Milestone march continues for Cresemba

Healthcare |
Update

24.09.24

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

Healthcare |
Flash note

09.09.24

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

Healthcare |
Flash note

28.08.24

Basilea Pharmaceutica — EU paediatric approval triggers CHF10m milestone

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Sector

Healthcare

Equity Analyst

Analyst

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	39.0	N/A
2023A	157.6	20.8	10.8	89.66	45.2	N/A
2024E	203.0	44.1	38.9	499.44	8.1	N/A
2025E	219.1	55.5	50.7	419.42	9.7	N/A

Flash note

Healthcare

11.03.24

Basilea Pharmaceutica — Strong Cresemba traction triggers milestone payment

edison tv

Healthcare

04.03.24

Interview with David Veitch, CEO of Basilea Pharmaceutica

Update

Healthcare

20.02.24

Basilea Pharmaceutica — From strength to strength

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Flash note

Healthcare

26.01.24

Basilea Pharmaceutica — Strong close to FY23 with another milestone payment

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Flash note

Healthcare

17.01.24

Basilea Pharmaceutica — Antibiotic addition to further replenish pipeline

Update

Healthcare

22.12.23

Basilea Pharmaceutica — Refilling the pipeline for growth

edison tv

20.12.23

Edison’s most frequently asked questions – Basilea Pharmaceutica

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Flash note

Healthcare

14.11.23

Basilea Pharmaceutica — Incremental acquisition to arsenal; new guidance

edison tv

Healthcare

09.11.23

Basilea Pharmaceutica – executive interview

Flash note

Healthcare

01.11.23

Basilea Pharmaceutica — Growth pivot with potential antibacterial addition

Flash note

Healthcare

20.10.23

Basilea Pharmaceutica — Antifungal addition to bolster pipeline

Flash note

Healthcare

18.10.23

Basilea Pharmaceutica — New data support FDA application for ceftobiprole

Flash note

Healthcare

03.10.23

Basilea Pharmaceutica — FDA accepts New Drug Application for ceftobiprole

Flash note

Healthcare

29.09.23

Basilea Pharmaceutica — Zevtera (ceftobiprole) clinical data published

Update

Healthcare

17.08.23

Basilea Pharmaceutica — A strong start to FY23 across the board

misael-moreno-fN6K30xtiKE-unsplash-Basilea

Flash note

Healthcare

07.08.23

Basilea Pharmaceutica — Zevtera back on track: NDA submitted to the FDA

Flash note

Healthcare

09.06.23

Basilea Pharmaceutica — Prompt receipt of milestone payments for Cresemba

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Flash note

Healthcare

19.04.23

Basilea Pharmaceutica — Zevtera NDA submission pushed to Q323

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Flash note

Healthcare

23.03.23

Basilea Pharmaceutica — Cresemba expansion continues with Japan launch

edison tv

Healthcare

07.03.23

Basilea Pharmaceutica – executive interview

Update

Healthcare

17.02.23

Basilea Pharmaceutica — Profitability sooner than expected

Flash note

Healthcare

25.01.23

Basilea Pharmaceutica — Strong execution resulting in operating profitability

Flash note

Healthcare

12.01.23

Basilea Pharmaceutica — Revenue upside surprise for 2022

Flash note

Healthcare

09.01.23

Basilea Pharmaceutica — Cresemba milestone payment triggered

Flash note

Healthcare

04.01.23

Basilea Pharmaceutica — Third leg of strategy executed with debt repayment

Update

Healthcare

21.12.22

Basilea Pharmaceutica — Oncology milestone payment triggered

Flash note

Healthcare

02.11.22

Basilea Pharmaceutica — Third oncology asset sale announced, as planned

Flash note

25.10.22

Basilea Pharmaceutica — New supportive data from ERADICATE

Update

Healthcare

23.09.22

Basilea Pharmaceutica — Oncology asset sales continue

Flash note

Healthcare

09.09.22

Basilea Pharmaceutica — Strategic streamlining – sale of oncology assets

Flash note

Healthcare

08.09.22

Basilea Pharmaceutica — To retire converts with senior secured and cash

Update

Healthcare

17.08.22

Basilea Pharmaceutica — On track for operating profitability in FY23

edison tv

Healthcare

10.08.22

Basilea Pharmaceutica – executive interview

Update

Healthcare

01.07.22

Basilea Pharmaceutica — Zevtera path to US approval open

Flash note

Healthcare

27.06.22

Basilea Pharmaceutica — Anti-infective refocusing on schedule

Flash note

Healthcare

24.06.22

Basilea Pharmaceutica — Cresemba IV formulation approved in China

Flash note

Healthcare

20.06.22

Basilea Pharmaceutica — Yet another milestone payment from Pfizer

edison tv

Healthcare

12.05.22

Basilea Pharmaceutica – executive interview

Outlook

Healthcare

04.05.22

Basilea Pharmaceutica — Renewed focus on anti-infectives

Flash note

Healthcare

28.04.22

Basilea Pharmaceutica — Spring into a new strategy

Update

Healthcare

29.09.21

Basilea Pharmaceutica — Momentum continues

Update

Healthcare

04.06.21

Basilea Pharmaceutica — Multiple catalysts on the horizon

Outlook

Healthcare

04.03.21

Basilea Pharmaceutica — Derazantinib spearheads oncology portfolio

Update

Healthcare

19.08.20

Basilea Pharmaceutica — A tale of two halves

edison tv

Healthcare

18.06.20

Basilea Pharmaceutica – executive interview

edison tv

Healthcare

17.03.20

Executive interview – Basilea Pharmaceutica

Update

Healthcare

20.02.20

Basilea Pharmaceutica — Cresemba sales the focus for future profitability

Outlook

Healthcare

07.01.20

Basilea Pharmaceutica — 2020 vision on derazantinib in iCCA

Update

Healthcare

22.08.19

Basilea Pharmaceutica — Data-driven catalysts ahead

Update

Healthcare

06.08.19

Basilea Pharmaceutica — Ceftobiprole hits its TARGET

edison tv

Healthcare

29.05.19

Executive interview – Basilea Pharmaceutica

Update

Healthcare

06.03.19

Basilea Pharmaceutica — Cresemba driving top-line growth

Update

Healthcare

10.01.19

Basilea Pharmaceutica — Derazantinib interim iCCA data promising

Update

Healthcare

21.08.18

Basilea Pharmaceutica — Cresemba growth, pipeline expansion

Outlook

Healthcare

16.07.18

Basilea Pharmaceutica — Oncology product portfolio to drive future growth

Update

Healthcare

08.03.18

Basilea Pharmaceutica — Strength in numbers

Update

Healthcare

07.12.17

Basilea Pharmaceutica — Pfizer Cresemba deal extended to Asia and China

Outlook

Healthcare

11.10.17

Basilea Pharmaceutica — The future looks bright

research

Healthcare

01.03.17

Basilea Pharmaceutica — Steady as she goes

Update

Healthcare

16.09.16

Basilea Pharmaceutica — Update 16 September 2016

Update

Healthcare

22.04.16

Basilea Pharmaceutica — Update 22 April 2016

Initiation

Healthcare

23.03.16

Basilea Pharmaceutica — Update 23 March 2016