BEXIMCO PHARMACEUTICALS (LON:BXP)
SECTOR – HEALTHCARE
RATING – CORP*
MARKET CAP – £256m
CURRENT PRICE – 63p#
ANALYST – VADIM ALEXANDRE Year-end June 2016A 2017A 2018E 2019E
Revenue (£m) No forecasts provided
EBITDA (£m)
Adj. pre-tax Profit (£m)
Adj. EPS (p)
DPS (p)
Net Cash/(Debt) (£m)
P/E (x)
Dividend yield (%)
EV/EBITDA (x)
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Broker to Beximco Pharma and therefore this information should be viewed as a Marketing Communication.
Results and product launch into US
NORTHLAND VIEW
This morning Beximco announced it has commenced the export of Sotalol Hydrochloride (80 mg, 120 mg and 160 mg), a generic version of the cardiovascular drug Betapace, to the US. Following the successful launch of Carvedilol to the US in August 2016, this is the second product from Beximco Pharma to be exported to the US.
According to QuintlesIMS data, the market size for Satalol Hydrochloride (including all strengths) in the US is $23 million.
Yesterday, Beximco also announced its audited results for the 12 month period ended 30 June 2017.
Net sales increased to BDT 15,508.8 million (£147.51 million), registering year-on-year growth of 12.5% (2015-16: BDT 13,785.3 million (£135.7 million))
Export sales registered year-on-year growth of 25.2%
Profit before tax increased 12.8% to BDT 2,891.5 million (£27.50 million), (2015-16: BDT 2,564.3 million, £25.24 million)
Yesterday Beximco’s results demonstrated that the Company continues to see good YoY growth, registering double-digit Sales and PBT expansion. Of note, the Group continues to show strong export growth. Also, today’s announcement demonstrates Beximco’s continued progress in the US market, with the launch of its second product there.
COMPANY DESCRIPTION
Beximco Pharma manufactures and sells generic pharmaceutical formulation products and active pharmaceutical ingredients.
OXFORD BIODYNAMICS PLC (LON:OBD)
SECTOR – HEALTHCARE
MARKET CAP – £201m
CURRENT PRICE – 234p#
ANALYST – VADIM ALEXANDRE
Year-end Dec 2015A 2016A
Revenue (£m) 0.7 1.1 No forecasts provided
EBITDA (£m) (1.5) (2.1)
Adj. pre-tax Profit (£m) (1.4) (2.1)
Adj. EPS (p) (1.3) (2.1)
DPS (p) - -
Net Cash/(Debt) (£m) 8.0 6.7
P/E (x) - -
Dividend yield (%) - -
EV/EBITDA (x) - -
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close.
Collaboration agreement signed with major US biopharmaceutical company
NORTHLAND VIEW
Oxford BioDynamics announced it has entered an initial collaboration with a major US biopharmaceutical company to advance research into novel treatments for patients with abnormal wound-healing responses leading to fibrosis.
Normal wound-healing leads to restoration of normal tissue function however, disruption of this response leads to the replacement of normal functional tissue with fibrous scar tissue (fibrosis). Fibrosis is a feature of many inflammatory diseases and if left to progress unchecked can cause organ malfunction and death.
This agreement allows the US biopharmaceutical company to use Oxford BioDynamic’s proprietary EpiSwitch™ platform to aid the research and development of novel therapeutic candidates and companion diagnostics for the treatment of fibrosis as well as enabling patient-stratification for clinical trials.
Christian Hoyer Millar, Chief Executive Officer of Oxford BioDynamics, commented: “This new collaboration is further evidence of broad adoption of our validated proprietary technology EpiSwitch™ for practical use in highly challenging therapeutic development programmes."
COMPANY DESCRIPTION
Oxford BioDynamics is a clinical stage biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture for use within the pharmaceutical and biotechnology industry.
SECTOR – HEALTHCARE
RATING – CORP*
MARKET CAP – £5.2m
CURRENT PRICE – 2p#
ANALYST – VADIM ALEXANDRE
Year-end Dec 2016E 2017E
Revenue (£’000) 431.5 465.9 No forecasts provided
EBITDA (£’000) (206.5) (252.8)
Adj. pre-tax Profit (£’000) (266.0) (183.0)
Adj. EPS (p) (0.09) (0.11)
DPS (p) - -
P/E (x) - -
Dividend yield (%) - -
EV/EBITDA (x) - -
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Joint Broker to Feedback and therefore this information should be viewed as a Marketing Communication.
Final year results and notice of AGM
NORTHLAND VIEW
Feedback plc announced its final results for the year ended 31 May 2017 with the AGM to be held on 30th November 2017.
Operational highlights included the signing of agreements to distribute TexRAD® Lung in China and Korea as well as the signing of a Letter of Intent with a leading medical imaging company to make TexRAD® Lung available for purchase on its diagnostic imaging solutions platform.
Financial highlights included a placing of 27,272,727 new ordinary shares of 0.25p each in the Company at a price of 2.75 pence per share to raise a total of £750,000 in April 2017. Net proceeds from this placing have been invested in product development and sales and marketing.
Revenues for the year were £465,885 (2016: £431,454) indicating a growth in revenues as customers adopt TexRAD® and Cadran products.Loss after tax for the year increased to £266,003 (2016: loss £183,156). This has been attributed to investment in team and external activities.
Cash as of 31 May 2017 was £696,811 (31 May 2016: £105,673).
Dr Alastair Riddell, Chairman at Feedback plc, commented: "We delivered solid operational progress during the period and the increased international sales exposure is particularly encouraging. We are acutely aware that this development has taken longer than originally expected, however we are confident that our rigorous regulatory review will pave the way for new products and therefore maximise the potential for TexRAD®'s clinical use worldwide. We remain focused on applying our leading research expertise to the clinical setting to drive future revenue growth and would like to thank our shareholders, customers and partners for their continued support.”
COMPANY DESCRIPTION
Feedback plc is a medical imaging business.