Santhera Pharmaceuticals Holding (CH:SANN)
:SANN
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Santhera Pharmaceuticals Holding
(SANN)
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Rating:48Neutral
Price Target:
CHF12.50
▼(-15.20% Downside)
Action:ReiteratedDate:01/10/26
The score is held down primarily by weak financial performance (profitability, leverage, and cash flow reliance on funding). This is partially offset by constructive technical momentum and a more positive earnings-call outlook driven by raised revenue guidance and AGAMREE adoption, though financing needs and losses remain key risks.
Positive Factors
Commercial adoption of AGAMREE
Sustained high market share in Germany and Austria indicates strong product-market fit and prescribing adoption for AGAMREE. Durable adoption in core European markets supports predictable revenue streams, bargaining power with payors, and a foundation for expanding commercial efforts across other regions.
Negative Factors
High leverage and weak equity position
A leveraged balance sheet with low equity undermines financial resilience. High leverage increases interest burden and reduces capacity to absorb shocks or fund launches organically. This structural weakness raises refinancing risk and could force dilutive or costly funding when markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial adoption of AGAMREE
Sustained high market share in Germany and Austria indicates strong product-market fit and prescribing adoption for AGAMREE. Durable adoption in core European markets supports predictable revenue streams, bargaining power with payors, and a foundation for expanding commercial efforts across other regions.
Read all positive factors
Santhera Pharmaceuticals Holding (SANN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF208.26M
Dividend YieldN/A
Average Volume (3M)55.85K
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue Growth-56.85%
EPS Growth-186.55%
CountryCH
Employees78
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.04
Shares Outstanding14,681,232
10 Day Avg. Volume57,231
30 Day Avg. Volume55,851
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)5.68
Price to Sales (P/S)4.02
P/FCF Ratio-4.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF30.00Price Target Upside103.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.1
Revenue Forecast (FY)CHF112.45M
Santhera Pharmaceuticals Holding Business Overview & Revenue Model
Company Description
Santhera Pharmaceuticals Holding AG, a specialty pharmaceutical company, together with its subsidiaries, develops and commercializes medicines for rare neuromuscular and pulmonary diseases with high unmet medical need in the European Union and int...
How the Company Makes Money
Santhera Pharmaceuticals generates revenue primarily through the commercialization of its pharmaceutical products, including sales of approved drugs and potential royalties from partnerships. Key revenue streams include direct sales of Vamorolone ...
Santhera Pharmaceuticals Holding Earnings Call Summary
Earnings Call Date:Sep 23, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant market adoption of AGAMREE in Europe and the U.S., strong commercial rollout in China, and increased revenue guidance. However, challenges such as a considerable operating loss and the need for additional financing were also highlighted.Positive Updates
Strong AGAMREE Adoption in Key Markets
AGAMREE has achieved approximately 40% market share of steroid using DMD patients in Germany and Austria, with Austria exceeding 50% market share.
Negative Updates
Operating Loss
Santhera reported an operating loss of CHF 35.4 million for the first half of the year.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong AGAMREE Adoption in Key Markets
AGAMREE has achieved approximately 40% market share of steroid using DMD patients in Germany and Austria, with Austria exceeding 50% market share.
Read all positive updates
Company Guidance
During the Santhera Pharmaceuticals half-year results call for the fiscal year 2025, Catherine Isted, the CFO, provided key financial guidance and metrics. The company announced new financing of CHF 20 million, extending their runway to cash flow breakeven by mid-2026. Santhera's cash balance was CHF 18.4 million as of June 30, 2025. The company's global sales reached over $100 million, and they expect full-year revenues to exceed CHF 65-70 million. Sales from their U.S. partner, Catalyst, were USD 49.4 million in H1 2025, with a full-year forecast of $100-110 million. This could trigger a $12.5 million milestone payment. Additionally, they anticipate strong growth in China following Sperogenix's commercial rollout, with over 250 patients already on AGAMREE. Santhera is expanding its market presence with recent launches in the U.K. and other European countries, aiming for a market size exceeding $600 million, including potential revenues from Europe, North America, and China as well as distribution agreements in other regions.Santhera Pharmaceuticals Holding Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
30
Negative
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Dec 2023 | Mar 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.02M | 39.12M | 103.41M | 7.47M | -1.59M | 15.01M |
| Gross Profit | 5.89M | 22.96M | 100.18M | 3.88M | -5.36M | 4.58M |
| EBITDA | -32.52M | -15.89M | 79.17M | -46.78M | -34.57M | -53.43M |
| Net Income | -65.54M | -41.97M | 54.78M | -71.08M | -55.53M | -67.66M |
Balance Sheet | ||||||
| Total Assets | 130.77M | 152.49M | 109.63M | 63.73M | 91.12M | 88.69M |
| Cash, Cash Equivalents and Short-Term Investments | 18.40M | 40.92M | 30.37M | 1.35M | 21.21M | 12.41M |
| Total Debt | 76.30M | 41.17M | 23.03M | 44.44M | 42.98M | 71.17M |
| Total Liabilities | 133.33M | 124.79M | 49.69M | 107.41M | 89.79M | 95.04M |
| Stockholders Equity | -2.56M | 27.70M | 59.94M | -43.69M | 1.33M | -6.35M |
Cash Flow | ||||||
| Free Cash Flow | -40.92M | -35.68M | 23.53M | -33.80M | -37.37M | -43.54M |
| Operating Cash Flow | -40.84M | -35.53M | 47.27M | -29.84M | -37.36M | -43.51M |
| Investing Cash Flow | -142.00K | -61.00K | -18.04M | -3.93M | 69.00K | 1.56M |
| Financing Cash Flow | 44.82M | 46.08M | -171.00K | 13.99M | 46.02M | 23.15M |
Santhera Pharmaceuticals Holding Technical Analysis
Positive
14.74
Price Trends
14.68
Positive
13.25
Positive
12.94
Positive
Market Momentum
-0.17
Positive
46.07
Neutral
23.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:SANN, the sentiment is Positive. The current price of 14.74 is below the 20-day moving average (MA) of 15.62, above the 50-day MA of 14.68, and above the 200-day MA of 12.94, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 46.07 is Neutral, neither overbought nor oversold. The STOCH value of 23.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:SANN.
Santhera Pharmaceuticals Holding Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | CHF623.77M | 16.63 | ― | ― | 58.51% | ― | |
67 Neutral | CHF311.39M | -487.07 | ― | ― | 744.64% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | CHF208.26M | -0.98 | -301.13% | ― | -56.85% | -186.55% | |
45 Neutral | CHF135.26M | -2.50 | -51.05% | ― | -100.00% | 14.45% | |
45 Neutral | CHF786.92M | -8.17 | ― | ― | 229.23% | 63.47% |
* Healthcare Sector Average
CH:SANN
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14.74
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-1.86%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.