PharmaMar (PHM)

Business description

PharmaMar is a Spanish biopharmaceutical group with a core focus on the development of marine-based drugs for cancer. Yondelis is approved in the EU and US, and partnered with Janssen (J&J) in the US and Taiho in Japan.

Stock data

Market cap.€705.5m
Last close€3.18
High / Low (52 weeks)€4.2 / €2.3
Stock market listingSP
Forecast net debt (€m)54.9
Forecast gearing ratio (%)105
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(11.3128)(19.2112)15.4546
Relative *(10.7517)(17.2366)(0.37)

* % Relative to local index

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Company news

ZELTIA SA INH. EO 0,05 (ZEL) Is Yet to See Trading Action on Sep 20

Wed, 20 Sep 2017 06:04:23 GMT

PharmaMar Will Start a Phase III Study of PM1183 in Combination With ...

Tue, 13 Jan 2015 14:31:20 GMT

Daughter of Zara founders becomes Spain's richest woman

Mon, 04 Nov 2013 15:09:32 GMT

Study in Lancet Oncology sheds light on YONDELIS prolonged therapy in soft ...

Thu, 12 Feb 2015 16:24:12 GMT

Zeltia restructures and rebrands as PharmaMar, Edison increases valuation

Mon, 16 Nov 2015 12:48:03 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 162.0 17.6 5.9 3.0 105.8 69.2
2016A 164.0 (11.5) (24.7) (10.8) N/A N/A
2017E 174.0 15.7 3.6 1.6 198.4 41.1
2018E 192.7 17.7 5.5 2.5 127.0 200.0

Last updated on 03/10/2017

Investment summary

PharmaMar has built a pipeline of first-in-class cancer drugs for development with strategic partners. Royalty income from Yondelis for soft tissue sarcoma in Japan and the US should drive strong profit growth from 2017. Aplidin could potentially be approved for multiple myeloma in Europe by the end of the year. Top-line data from the Zepsyre (aka lurbinectedin and PM1183) Phase III in platinum-resistant ovarian cancer is due by early 2018. A second pivotal study is evaluating lurbinectedin in combination with doxorubicin in patients with small cell lung cancer. A Phase III in BRCA2-mutated breast cancer is planned for 2017, and pivotal studies in endometrial cancer have been flagged following a 44% response rate in Phase I.

Last updated on 03/10/2017

Industry outlook

PharmaMar's oncology portfolio has been validated through multiple global partnerships, eg J&J in the US and Taiho in Japan (for Yondelis) and Chugai in certain EU countries (for Aplidin).

Last updated on 03/10/2017

Key management

Jose Maria Fernandez Sousa-Faro, Chairman & CEO
Luis Mora, MD
Maria Luisa de Francia Caballero, CFO
Maria Marin de la Plaza, IR

Company address

Plaza del Descubridor Diego de Ordás
3, Planta 5
Madrid
28003
Spain
+34 91 444 45 00
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