Our research note highlights the opportunities available from Basilea's existing portfolio and pipeline. Basilea addresses the growing global threat of antimicrobial resistance, an area arguably underappreciated by investors. Unlike many drug developers, Basilea is currently and sustainably profitable, and with fosmanogepix in the pipeline, it has a potential blockbuster drug in the making. Additionally, the majority of development costs are funded from non-dilutive sources (BARDA). Basilea has a strong balance sheet, with net cash and substantial government support. Basilea is positioned as a key player in the fight against deadly fungal and bacterial 'superbugs' as identified by the World Health Organization (WHO).