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 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 Figures2022-08-08
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 0.0 | 0.0 | 0.0 |
growth-% | |||
EBIT (adj.) | -21.1 | -22.0 | -0.8 |
EBIT-% (adj.) | -527,700.00 % | -550,000.00 % | -19,500.00 % |
EPS (adj.) | -0.40 | -0.40 | -0.02 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |