Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PROBIODRUG AG. We currently have 5 research reports from 1 professional analysts.
|16Nov16 06:01||GNW||Amyloid-beta (Abeta) aggregate-clearing by the murine anti-pyroglutamate-3 Abeta IgG2a monoclonal antibody PBD-C06 with and without a complement mutation in an Alzheimer's mouse model|
|10Nov16 06:00||GNW||Probiodrug reports Third Quarter 2016 Business Update|
|03Nov16 06:00||GNW||Probiodrug AG to Publish its Third Quarter 2016 Business Update on 10 November 2016|
|06Oct16 07:59||GNW||Probiodrug announces pricing of a EUR 14.9 million accelerated bookbuild offering of new shares|
|05Oct16 04:47||GNW||Probiodrug launches capital increase by means of an accelerated bookbuild offering|
|13Sep16 06:00||GNW||Combination therapy with Glutaminyl Cyclase (QC) inhibitor PQ912 & pGlu-Abeta specific antibody PBD-C06 shows clear additive effects in reducing pGlu-Abeta as well as Abeta in Alzheimer-mouse model|
|07Sep16 06:00||GNW||Promising new findings for Probiodrug's Glutaminyl Cyclase - inhibitor in an inflammation animal model|
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Research reports on
Combo trial data may boost early R&D
13 Sep 16
Today Probiodrug announced the results from a combination study of its lead Phase IIa product, glutaminylcyclase-inhibitor PQ912, and its specific monoclonal antibody PBD-C06, the company’s second asset in preclinical stage. This is the first preclinical proof-of-concept data and showed an additive effect of this two-pronged approach of inhibiting the formation and increasing the clearance of pyro-glutamyl-Amyloid beta (pGlu-Abeta), the toxic version of amyloid beta, potentially a key pathophysiological component in Alzheimer’s disease (AD). While PQ612 remains Probiodrug’s key asset, the encouraging preclinical findings in the combo study may boost the company’s earlier-stage programme, especially in light of Eli Lilly’s recent data from a Phase I study with a peer compound to PBD-C06 (see our outlook report).
First-in-class AD asset to deliver Phase IIa data
07 Sep 16
Full results from Probiodrug’s lead Phase IIa SAPHIR trial are expected to be announced early in 2017, which will be a major milestone for the pure-play Alzheimer’s disease (AD) company. The trial investigates the effects of first-in-class PQ912, a small molecule glutaminyl cyclase (QC) inhibitor, on AD patients. The differentiated approach in the AD field and likely sufficient cash position of €14.2m until the readout should be supportive to the share price. We value Probiodrug at €309m or €41.5/share.
Tolerable SAPHIR delay, full data early 2017
31 Mar 16
With its FY15 results, Probiodrug provided an update on the lead Phase IIa SAPHIR trial, which is well underway. R&D expenses were up year-on-year reflecting increased activities related to the study. The six-month delay was mainly a result of enrolment difficulties, which is not uncommon in Alzheimer’s disease (AD) studies due to increasing competition for the same early patient population. Importantly, measures taken by the company addressed this issue well, in our view. The final results are likely in late Q117 or early Q217 which, if positive, should enable Probiodrug to seek a partnership deal.
Private placement to extend cash runway
10 Nov 15
Probiodrug has announced a capital raise of €13.5m from a private placement of 0.68m new shares; we estimate net proceeds of €12.9m. These funds should ensure Probiodrug can move swiftly ahead with future development plans for lead product PQ912 once data from the ongoing Phase IIa SAPHIR trial become available around mid-2016. Furthermore, the improved financial position should ensure Probiodrug can negotiate any deal terms, if a partner is sought, from a position of strength. Our rNPV is increased to €234m with inclusion of these new funds.
On track for PQ912 data mid-2016
23 Sep 15
Probiodrug continues to expect data from the Phase IIa study of lead product candidate PQ912 around mid-2016. In the meantime, Eli Lilly is expected to announce initial data from the Phase I trial of its antibody-targeting pGlu-Abeta in Q415. This will have read-across to PBD-C06, Probiodrug’s preclinical pGlu-Abeta antibody. Current cash should provide sufficient funding until the PQ912 data readout, when Probiodrug may seek to partner PQ912. We value Probiodrug at €217.5m or €32.1/share.
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
N+1 Singer - Morning Song 05-12-2016
05 Dec 16
RTHM is acquiring a profitable Canadian listed mobile specialist for equivalent of US$42.5m consideration in shares (88.235m). This helps adds to two growth vectors RTHM is targeting; (i) adds unique exclusive audience (10m unique) and (ii) Exclusive demand Yahoo and Facebook. The business has 15 premium and owned and operated apps which provide users with rewards for activity. The business is expected to deliver c$9m of EBITDA in FY18 including $2m of cost synergies. This equates to just 4.7x EV/EBITDA. This marks what we see the first step in RTHM activity to scale the business and deliver on margin potential (see our initiation notes). Our initial estimates for EPS revisions are very significant - for FY18 are 2.3 cents (currently 0.6) and for FY19 4.3 (currently 2.5). There is a call at 830 for investors and we will revise post this.
N+1 Singer - Morning Song 29-11-2016
29 Nov 16
Vp has reported another impressive set of interims, confirming strong growth in most markets and a positive outlook. Recent acquisitions are bedding in well and the full year outturn is set to exceed previous expectations (5%/6% EPS upgrades in FY17/FY18). The recent Capital Markets Day provided a reminder of Vp’s qualities (specialist focus, high returns, strong cash generation) and its growth potential, which in our view are not reflected in a modest <11x P/E rating. We firmly believe the shares are due a re-rating and see intrinsic value in excess of 800p.
Panmure Morning Note 02-12-16
02 Dec 16
We expect CareTech to report FY results to September on 8th December. A positive trading update in October indicated that performance for the year was in line with market expectations therefore we are focusing on the outlook. We expect a confident statement since the end of 2016 showed positive trends across fee rates, expansion in places and occupancy. We believe CareTech is well positioned for further expansion, and remains at an attractive valuation. We retain our BUY and 380p price target.
Food intolerance driving growth
29 Nov 16
Omega Diagnostics Group has an established core business providing high quality in vitro diagnostic tests within three core areas of competence – Food Intolerance, Allergy & Autoimmune, Infectious Disease – that are sold in over 100 countries. The group offers steady low single-digit growth which is profitable and cash generative. Investment in new products has seen the launch of a new panel of automated allergy tests and progress on Visitect CD4 for monitoring of HIV positive patients. Interim results highlighted the opportunities to accelerate growth of the business, particularly Allersys, which has drawn attention from its partner.