This morning, Basilea announced a further award of $30 million in non-dilutive funding as part of its agreement with BARDA to support the development of Basilea’s novel antifungal fosmanogepix. The payment has been received, as Basilea has met a pre-specified enrollment threshold in the ongoing Phase 3 programme. As a reminder, this funding is received under BARDA and Basilea’s 2024 ‘Other Transaction Agreement’, which awarded up to $268 million over 12 years. Overall, funding from BARDA is...

We published a research note today, updating our outlook and forecasts for Basilea. Following a period of significant strategic and financial milestones, management is executing its "Agenda 2030," a roadmap to transition the company beyond its lead asset, Cresemba, and toward becoming a leading global powerhouse in anti-infectives. Bridging the "Cresemba Gap" While Cresemba continues to deliver strong sales—marketed in 76 countries and showing early-cycle growth in Japan and China—management...

Diversifying the Anti-Infective Franchise A primary focus for Basilea has been executing the objective to replenish its pipeline and provide longevity beyond the expected loss of exclusivity for its lead antifungal, Cresemba, in late 2027. While Cresemba continues to deliver exceptional performance—with global in-market sales exceeding $560m in 2024—the company is successfully transitioning to a multi-asset model. Basilea's update today highlights progress made in 2025 and what to expect...