Basilea on show at IDWeek
Basilea's impressive portfolio and emerging pipeline of anti-infective programmes are on display at IDWeek in Washington, DC. This is good timing and, we believe, offers a prelude to the upcoming Capital Markets Day, which will be held in Zurich on October 28th.
All eyes are on fosmanogepix, the company's novel antifungal and the first in the new 'gepix' class, currently progressing through Phase 3 trials targeting candidaemia (FAST-IC) and invasive moulds (FORWARD-IM). At the same time, fosmanogepix is also available through the Expanded Access Programme (EAP) on a compassionate-use basis. This programme is significant, with almost 600 individuals, often with extremely challenging fungal infections, receiving fosmanogepix through the EAP. At IDWeek, the highlights of the fosmanogepix data include oral presentations of data from paediatric patients (11 years of age and under) with invasive mould infections. Overall, we believe the EAP data should significantly raise awareness and enable an expedited commercial rollout of fosmanogepix once approved. Additionally, several poster presentations will highlight fosmanogepix's activity against relevant Aspergillus and mould isolates from different geographic regions. We believe that the data generated so far and the likely approved label support our peak sales forecast of approximately $1.2bn.
Despite approaching loss of exclusivity in the US (Q4 2027) and Europe (H2 2028), Cresemba (isavuconazole) is marketed in 76 countries, many of which will continue to deliver sales and revenues for Basilea in the longer term. Presentations at IDWeek aim to confirm isavuconazole's effectiveness and differentiated profile.
IDWeek presentations also include data on the 5th-generation cephalosporin antibiotic Zevtera (ceftobiprole). Zevtera is still relatively early in its US commercial roll out through licensee IST. Despite its broad label, including severe skin infections and community-acquired bacterial pneumonia, we continue to believe the bacteraemia indication is key to commercial success and delivering on our peak sales estimate of $380m.
We have a DCF-derived fair value of CHF120 per share.
IMPORTANT:
Calvine Partners LLP is authorised and regulated by the Financial Conduct Authority.
Basilea Pharmaceutica is a client of Calvine Partners, and as such, this publication is not independent and should be considered a marketing communication under FCA Rules. None of the information in this publication should be considered as any form of advice.
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