Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GENTICEL SA. We currently have 6 research reports from 2 professional analysts.
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Final preclinical SIIL milestone achieved
19 Dec 16
Genticel has received a milestone payment of $1.2m from the Serum Institute of India (SIIL). This is the last milestone Genticel will receive associated with the preclinical development of GTL003 in new multivalent vaccines that contain pertussis (whooping cough). SIIL can now finish formal preclinical development before moving to clinical development, which could unlock further milestone payments. Under the collaboration with SIIL, Genticel is entitled to up to $57m development and sales milestone payments and single-digit royalties on net sales. Cash and equivalents at end Q316 were €12.3m. Our valuation is under review following the termination of the GTL001 and GTL002 programmes.
Life Science Sector review
11 Jul 16
And then worst of all, you never get approval when you say you will. There is nothing that causes investor whiplash more than a sudden announcement of an unsuccessful clinical trial. Whether you are the onedrug wonder on AIM or the multi-drug portfolio NASDAQ darling, the market never takes too kindly to unsavoury news from the FDA on clinical results. But should investors lambast these two scenarios similarly based on poor trial results? The variables are endless but in this example the clear answer is no. Investors who invest in one-drug companies edging ever closer to FDA decision day do not have much cause for complaint as they are rolling the dice. But what of the company with many drug candidates in the clinic? Surely the usual knee-jerk reaction of a mass selloff is not rational when a company has a singular failure amongst a well-developed and advanced portfolio?
Further Phase II data announced
28 Jun 16
Genticel has announced 18-month data from the Phase II trial of the GTL001 vaccine to treat early-stage human papillomavirus 16 and 18 infections (HPV16/18). In this update, GTL001 showed no statistically significant difference in any subgroup. Safety remains positive. Genticel will present 24-month data in Q117, which will include the full data set and inform next steps. The company continues leveraging its Vaxiclase platform in collaboration with the Serum Institute of India (SIIL) and plans to expand its pipeline. We have revised our valuation down to €2.31/share (€5.75/sh previously) as we have cut the probability of success for GTL001.
A deeper look into Phase II data
07 Jun 16
Genticel has announced further analysis of its Phase II results on the GTL001 vaccine to treat early-stage human papillomavirus (HPV) 16 and 18 infections. The pre-specified group of patients with normal cytology had a significantly higher viral clearance than those taking placebo (p=0.018). Post-hoc analysis of the combined group of normal and ASCUS patients also shows a statistically significant difference (p=0.0029) between groups. In our view, this indicates that GTL001 could be effective in 80% of women positive for HPV 16/18. Management expects 18-month data in Q316 to enable partnering and Phase III initiation.
10 Feb 16
Genticel has announced the Phase II results of its GTL001 vaccine to treat early-stage human papillomavirus 16 and 18 (HPV 16 and 18) infections. The primary 12-month endpoint, focused on women with early cervical cellular abnormalities, was not achieved. Positively, in the subgroup of women with normal cytology, a significant clearance rate was seen. Further clearance data after 18 months are expected by Q316 and management expects this to enable Phase III preparations and partnering.
Gentle therapy; dangerous infections
01 Sep 15
Genticel develops gentle therapeutic vaccines to treat early-stage human papilloma virus infections. The lead vaccine, GTL001, targets high-risk HPV 16 and 18 infections causing c 75% of cervical cancers in North America and the EU. There is no therapeutic vaccine to treat up to 12m women (in these markets). Phase II data, due in H116, could enable a major partnering deal to fund Phase III. A second product, GTL002, based on an improved proprietary platform (Vaxiclase), could enter trials in 2017 and should extend the therapy to cover other HPV types. Genticel is funded into 2017 (H115 cash €25.2m).
20 Apr 17
Although the last two months have seen a broadly neutral performance from the UK healthcare sector compared to a significantly more volatile 6 months prior, we continue to expect macro-events and increased geo-political risk to result in an overall neutral performance from the sector over the next period. However, company specific news is likely to drive a strong outperformance from selected mid-market companies. We retain our neutral sector stance whilst highlighting those we expect to outperform.
N+1 Singer - Morning Song 24-04-2017
24 Apr 17
First Derivatives (FDP LN) FY slightly ahead as strong trading momentum continues | Goals Soccer Centres (GOAL LN) A potentially exciting corporate development | mporium Group (MPM LN) 2016 results: course set for exciting 2017 | Vectura Group (VEC LN) VR315 risk outweighs longer-term potential
N+1 Singer - Sinclair Pharma - EBITDA upgrade for 2017, but lower TP due to warranty claim and costs
19 Apr 17
We have updated product-level forecasts and included the £10m SVB debt facility and £5m warranty claim settlement with Alliance Pharma in our forecasts. The 6.3% upgrade to our FY2017 sales estimate (from £46.0m to £48.9m) brings expected EBITDA profitability forward by one year (to FY2017 from FY2018). We remain positive on the ongoing rollout of Silhouette Instalift® in particular and retain our Buy recommendation. However, higher expected sales & marketing costs and the warranty claim weigh on our valuation: we downgrade our target price from 42p to 37p.
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
06 Apr 17
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.
24 Apr 17
Lok’nStore* (LOK): Growth supported by a strong balance sheet (CORP) | Mortice* (MORT): UK acquisition (CORP) | Avacta* (AVCT): Another milestone – 1st non-therapeutics licence (CORP) | Petra Diamonds (PDF): Trading update and Q3 results (BUY) | Nasstar* (NASA): Growth and margin focus (CORP)