Promising results from Faron's BEXMAB blood cancer study
Translation: Original comment published in Finnish on 7/19/2023 at 6:40 am.
On Wednesday, Faron Pharmaceuticals published new positive results from the BEXMAB study to examine the efficacy of the company's precision immunotherapy treatment (bexmarilimab) for a number of malignant haematological tumors, or blood cancers. Faron also stated that they plan to file the first Biologics License Application (BLA) to FDA in H1’25.
According to the company, the data received so far in the study supports moving to clinical Phase II. This move is already included in our modeling as a very likely scenario in our estimates. So there is no need for major estimate changes, but we will review our assumptions in connection with our Q2 pre-comment. Our latest update on Faron is available here.
Faron Pharmaceuticals
Faron is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The company currently has a pipeline based on the endothelial receptors involved in regulation of immune response, in oncology and organ damage. Our pipeline consists of two drug candidates and development programmes Clevegen (FP-1305) and Traumakine (FP-1201-lyo). Clevegen aims to tackle several cancer types by activating immunity; Traumakine organ trauma and vascular damage by stopping vascular leakage. Both programmes have advanced to first-in-human clinical trials following promising pre-clinical data. Faron is based in Turku, Finland.
Read more on company pageKey Estimate Figures2023-04-17
2022 | 23e | 24e | |
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Revenue | 0.0 | 0.0 | 0.0 |
growth-% | |||
EBIT (adj.) | -27.4 | -15.8 | -3.1 |
EBIT-% (adj.) | -685,650.00 % | -394,522.50 % | -76,864.00 % |
EPS (adj.) | -0.48 | -0.25 | -0.05 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |