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Basilea Pharmaceutica (CH:BSLN)
:BSLN
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Basilea Pharmaceutica
(BSLN)
Rating:75Outperform
Price Target:
CHF55.00
▲(9.13%Upside)
Positive Factors
Market Exclusivity
Market exclusivity of Cresemba was extended to October 2027 in the EU and September 2027 in the U.S., providing flexibility for transition to a follow-up antifungal drug.
Market Expansion
The FDA approval of Zevtera for specific indications makes it the only approved MRSA cephalosporin antibiotic for certain infections, giving it a unique market position.
Sales Performance
Cresemba has achieved a sales milestone in Japan and is the highest-selling branded antifungal agent worldwide, reflecting strong market performance.
Negative Factors
Global Optimization Risks
Risks include inability by Basilea's partners to optimize the value of isavuconazole and ceftobiprole globally and potential setbacks with clinical-stage candidates.
Market Penetration Risks
Risks include potential challenges in market penetration for ceftobiprole in the U.S. and setbacks with clinical-stage candidates like fosmanogepix.
Basilea Pharmaceutica (BSLN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF599.04M
Dividend YieldN/A
Average Volume (3M)33.56K
Price to Earnings (P/E)7.9
Beta (1Y)1.01
Revenue Growth32.30%
EPS Growth631.04%
CountryCH
Employees164
SectorHealthcare
Sector Strength42
IndustryBiotechnology
Share Statistics
EPS (TTM)4.70
Shares Outstanding13,313,530
10 Day Avg. Volume40,853
30 Day Avg. Volume33,556
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)7.42
Price to Sales (P/S)0.00
P/FCF Ratio7.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF83.50Price Target Upside65.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Basilea Pharmaceutica Business Overview & Revenue Model
Company DescriptionBasilea Pharmaceutica (BSLN) is a biopharmaceutical company focused on the research, development, and commercialization of innovative pharmaceutical products to address the medical needs in the areas of oncology and infectious diseases. Based in Switzerland, Basilea's core products include a portfolio of treatments for bacterial infections and antifungal agents, as well as targeted cancer therapies. The company is committed to improving patient outcomes through the development of novel medicines that address drug resistance and provide new therapeutic options.
How the Company Makes MoneyBasilea Pharmaceutica generates revenue primarily through the sale of its pharmaceutical products, which include Cresemba (an antifungal) and Zevtera (an antibiotic), to healthcare providers and institutions. The company also earns income through licensing agreements and collaborations with other pharmaceutical companies, who may pay royalties, milestone payments, or upfront fees to gain access to Basilea's proprietary compounds and technologies. Additionally, Basilea engages in strategic partnerships to expand its market reach and leverage its R&D capabilities, further contributing to its revenue streams. Key factors influencing earnings include the successful commercialization of its product pipeline, regulatory approvals, and the ability to secure and maintain partnerships within the pharmaceutical industry.
Basilea Pharmaceutica Earnings Call Summary
Earnings Call Date:Feb 18, 2025
(Q4-2024)
| % Change Since: 23.38%|
Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong financial performance with substantial growth in key products like Cresemba and new approvals for Zevtera. The company secured significant non-dilutive funding and expanded its pipeline, although it faced challenges with the tonabacase development. Overall, the positive aspects significantly outweigh the few lowlights.Q4-2024 Updates
Positive Updates
Strong Financial Performance
Basilea reported a tripling of operating profit and a five-fold increase in operating cash flow for 2024. Total revenue grew by 32% to CHF208.5 million, with Cresemba and Zevtera-related revenue increasing by 30% year-on-year.
Cresemba Sales Growth
Cresemba achieved a 20% increase in global in-market sales, totaling over $0.5 billion for the 12-month period ending September 2024. It remains the largest branded antifungal for invasive fungal infections worldwide.
Zevtera U.S. Approval
Zevtera received FDA approval for a broad range of indications in the U.S., with Innoviva Specialty Therapeutics as the commercialization partner.
Non-Dilutive R&D Funding
Basilea secured significant non-dilutive funding, including up to $268 million from BARDA and additional grants from CARB-X to support antifungal and antibiotic development.
Pipeline Expansion
Significant progress was made in expanding the pipeline, including the initiation of Phase 3 studies for fosmanogepix, development of BAL2420, and acquisition of LptA inhibitors.
Negative Updates
Tonabacase Development Halt
After a thorough preclinical evaluation, Basilea decided not to pursue the development of tonabacase, a bactericidal endolysin, as it did not meet the company's stringent criteria.
Product Supply Decrease to Pfizer
A decrease in product supply to Pfizer was announced, resulting from the successful transfer of the majority of manufacturing responsibilities to the partner.
Company Guidance
During the Basilea Pharmaceutica Full-Year Results 2024 Conference Call, the company provided guidance on several key metrics. Cresemba, their leading antifungal product, saw a 20% increase in global in-market sales, surpassing $0.5 billion for the year ending September 2024. This growth contributed to a 30% year-on-year increase in Cresemba and Zevtera-related revenue. Basilea reported a tripling of operating profit and a five-fold increase in operating cash flow compared to 2023, ending the year with a strong cash position and net cash. Total revenue for 2024 grew by 32% to CHF208.5 million, with Cresemba and Zevtera-related revenue reaching CHF194.9 million. The company achieved a net profit of CHF77.6 million, supported by a CHF17.3 million deferred tax asset gain. For 2025, Basilea expects total revenue to grow to approximately CHF220 million, supported by a 14% increase in royalty income and reimbursements from BARDA and CARB-X. Operating profit is anticipated to remain high at around CHF62 million, despite an expected 14% increase in R&D expenses. The company plans to maintain its focus on expanding its pipeline in antifungals and antibacterials while leveraging non-dilutive funding to support its research and development efforts.Basilea Pharmaceutica Financial Statement Overview
Summary
Basilea Pharmaceutica has shown strong revenue growth, improved profitability, and robust cash flow management. However, high liabilities remain a concern despite positive equity.Income Statement
Basilea Pharmaceutica has shown strong revenue growth from 2023 to 2024 with an increase of 32.3%. The gross profit margin decreased from 2023 to 2024 due to a decline in gross profit. However, the net profit margin improved significantly to 37.2% in 2024, indicating better profitability. The EBIT and EBITDA margins also saw significant improvements, indicating enhanced operational efficiency.72
Positive
Balance Sheet
The company has improved its balance sheet with positive stockholders' equity in 2024, moving from negative in previous years. The debt-to-equity ratio has improved as equity turned positive, and the equity ratio at 31.4% indicates a stronger financial position. However, high total liabilities relative to assets remain a concern.58
Neutral
Cash Flow
The cash flow statement shows a strong free cash flow growth of 449.6% from 2023 to 2024, indicating robust cash generation. The operating cash flow to net income ratio is healthy, supporting the company's profitability and cash generation capabilities. The free cash flow to net income ratio is also strong, reflecting efficient cash management.80
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 208.54M | 157.63M | 147.76M | 148.12M | 127.63M | Gross Profit |
| 169.86M | 130.84M | 120.96M | 124.05M | 103.58M | EBIT |
| 61.18M | 19.20M | 16.34M | 1.17M | -23.26M | EBITDA |
| 63.13M | 23.18M | 26.21M | 6.72M | -2.24M | Net Income Common Stockholders |
| 77.59M | 10.45M | 12.15M | -6.83M | -14.72M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 120.71M | 59.90M | 86.57M | 149.95M | 167.28M | Total Assets |
| 257.76M | 173.29M | 220.85M | 247.27M | 229.79M | Total Debt |
| 111.67M | 128.61M | 187.14M | 218.96M | 242.32M | Net Debt |
| -9.03M | 68.71M | 150.57M | 164.00M | 186.71M | Total Liabilities |
| 176.76M | 183.29M | 241.56M | 305.87M | 331.84M | Stockholders Equity |
| 81.00M | -10.00M | -20.71M | -58.61M | -102.05M |
| Cash Flow | Free Cash Flow | |||
| 72.65M | 13.21M | 3.75M | -32.88M | -56.40M | Operating Cash Flow |
| 74.36M | 14.24M | 7.06M | -32.02M | -54.13M | Investing Cash Flow |
| -1.01M | -1.03M | 91.65M | 3.58M | -34.96M | Financing Cash Flow |
| -13.16M | -57.30M | -45.25M | 16.64M | 45.07M |
Basilea Pharmaceutica Technical Analysis
Positive
50.40
Price Trends
43.89
Positive
43.67
Positive
43.49
Positive
Market Momentum
1.16
Negative
80.65
Negative
91.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:BSLN, the sentiment is Positive. The current price of 50.4 is above the 20-day moving average (MA) of 45.18, above the 50-day MA of 43.89, and above the 200-day MA of 43.49, indicating a bullish trend. The MACD of 1.16 indicates Negative momentum. The RSI at 80.65 is Negative, neither overbought nor oversold. The STOCH value of 91.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:BSLN.
Basilea Pharmaceutica Peers Comparison
Overall Rating
UnderperformOutperform
Sector (54)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | CHF599.04M | 7.87 | ― | 32.30% | 631.04% | ||
66 Neutral | $146.11M | 10.90 | ― | 450.19% | ― | ||
65 Neutral | CHF906.33M | ― | -6.44% | ― | 125.11% | 69.27% | |
54 Neutral | $5.31B | 3.29 | -45.39% | 2.79% | 16.77% | -0.07% | |
51 Neutral | CHF452.98M | ― | ― | 11.61% | -356.20% | ||
47 Neutral | CHF119.11M | ― | -40.40% | ― | -66.82% | 4.14% | |
44 Neutral | CHF134.06M | 2.58 | -93.91% | ― | -62.17% | -166.33% |
* Healthcare Sector Average
Performance Comparison
CH:BSLN
Basilea Pharmaceutica
50.40
8.55
20.43%
CH:MOLN
Molecular Partners AG
2.99
-0.99
-24.87%
CH:IDIA
Idorsia Ltd
2.02
-0.16
-7.34%
CH:NWRN
Newron Pharmaceuticals SpA
7.70
-2.29
-22.92%
CH:SANN
Santhera Pharmaceuticals Holding
13.86
3.78
37.50%
CH:KURN
Kuros Biosciences
24.70
13.28
116.29%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.