We initiate coverage of Marinomed Biotech AG (“MARI”) with an OUTPERFORM recommendation and a target price (“TP”) of €95 per share (>20% upside). Marinomed uses its proprietary Marinosolv technology to dissolve hardly soluble therapeutic compounds to improve their bioavailability and hence efficacy and safety. Pivotal Phase III data for lead asset Budesolv in hay fever (allergic rhinitis, “AR”) is expected in Q2/2019E, paving the way for approval and launch in 2021E into a >$12.2bn market. We mo ....
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Solving the insoluble
- Published:
21 Mar 2019 -
Author:
Brigitte de Lima, PHD CFA -
Pages:
52
We initiate coverage of Marinomed Biotech AG (“MARI”) with an OUTPERFORM recommendation and a target price (“TP”) of €95 per share (>20% upside). Marinomed uses its proprietary Marinosolv technology to dissolve hardly soluble therapeutic compounds to improve their bioavailability and hence efficacy and safety. Pivotal Phase III data for lead asset Budesolv in hay fever (allergic rhinitis, “AR”) is expected in Q2/2019E, paving the way for approval and launch in 2021E into a >$12.2bn market. We mo ....