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Faron Pharmaceuticals: Unsurprising report keeps estimates unchanged
Faron’s H1 report offered no surprises. The company didn’t have any revenue as we expected, and the operating loss was in line with our forecasts. There was no significant new information on research or business progress, so we are not making any changes to the forecasts in our recently published extensive report. Our valuation relies heavily on a DCF calculation based on risk-adjusted estimates, which produces a present value of the stock that remains unchanged at EUR 2.8. In our view, peer analysis suggests a neutral valuation of the stock.
Faron is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company's lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through reprogramming myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments.
Read more on company pageKey Estimate Figures2022-08-08
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 0.0 | 0.0 | 0.0 |
| growth-% | |||
| EBIT (adj.) | -21.1 | -22.0 | -0.8 |
| EBIT-% (adj.) | -527,700.0 % | -550,000.0 % | -19,500.0 % |
| EPS (adj.) | -0.38 | -0.39 | -0.02 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | neg. | neg. |
| EV/EBITDA | neg. | neg. | neg. |
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