Funded to achieve multiple value inflection points
Update | 15 February 2018
BerGenBio is making excellent progress towards achieving its ambitious goals. All six Phase II trials with bemcentinib (BGB324) are on track to report data in 2018, with results from most of them expected at the ASCO meeting in June. The first efficacy data with bemcentinib in immuno-oncology settings should be reported there, from the three Phase II studies in combination with Merck’s pembrolizumab. BerGenBio continues to control its costs carefully and is funded to operate into FY19. Our valuation is maintained at NOK50.46/share.
|Year-end: December 31||2016||2017||2018E||2019E|
|Adj. PBT (NOKm)||(129.8)||(182.2)||(237.0)||(241.7)|
|Net Income (NOKm)||(129.8)||(182.2)||(237.0)||(241.7)|
|Adj. EPS (NOK)||(419.7)||(4.0)||(4.7)||(4.8)|
15 February 2018
|Market Cap (NOKm)||2,092|
|Enterprise Value (NOKm)||1,722|
|Shares in issue||49.9m|
|12-month range (NOK)||18.60-44.40|
BerGenBio is a clinical-stage, drug development company based in Bergen, Norway and Oxford, UK. It is developing innovative anti-cancer therapies that act on the promising Axl signalling pathway. The lead oncology compound, BGB324, is in a number of Phase II trials.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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