This morning, we published a research report highlighting the company's recent progress and upgrading our forecasts and valuation.
Basilea has built a strong anti-infective pipeline, and acquiring fosmanogepix brings a Phase 3-ready novel antifungal. The anti-infective franchise at Basilea had been threatened by the Q4 2027 loss of exclusivity for Cresemba in the USA and Europe. We believe that adding fosmanogepix, with its compelling clinical data, removes future uncertainty as the drug's attributes suggest a commercially successful treatment option in a wide variety of critical fungal infections.
We discuss the addition of several other clinical-stage anti-infective assets that also extend the franchise's longevity. We look forward to the forthcoming US approval of ceftobiprole and the attraction of a suitable commercial partner to maximise its commercial potential and further de-risk the investment case.
Basilea is now a profitable, cash-generative company. Assuming further success with fosmanogepix, ceftobiprole, and the earlier-stage pipeline assets, it should continue to generate value for shareholders.
We revise our forecasts and calculate a discounted cash flow fair value of CHF 110 per share for Basilea.
To read our research report, please use the link here.
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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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