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.€855.5m
Last close€3.85
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(1.9)(0.5)28.8
Relative *(0.9)3.65.3

* % Relative to local index

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Company news

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

Zeltia restructures and rebrands as PharmaMar, Edison increases valuation

Mon, 16 Nov 2015 12:48:03 GMT

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

Thu, 12 Feb 2015 16:24:12 GMT

Rosetta Genomics Appoints Dr. Maria Fe Paz as Interim Chief Medical Officer

Wed, 04 Nov 2015 13:30:28 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 3.0 128.3 83.9
2016A 164.0 (11.5) (24.7) (10.8) N/A N/A
2017E 174.0 15.7 3.6 1.6 240.6 49.9
2018E 192.7 17.7 5.5 2.5 154.0 242.5

Last updated on 19/07/2017

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 in H217; a pivotal study is underway for Aplidin in angioimmunoblastic T-cell lymphoma, the lead US indication. Top-line data from the lurbinectedin (PM1183) Phase III in platinum-resistant ovarian cancer is due in H217. A second pivotal study is evaluating lurbinectedin in combination with doxorubicin in patients with small cell lung cancer. A Phase II in BRCA 1/2 breast cancer achieved a 41% ORR including 61% in BRCA2 patients; 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. In December 2016 PharmaMar licenced Japan rights for lurbinectedin to Chugai for €30m upfront, over €70m in potential milestones, plus double-digit royalties.

Last updated on 03/08/2017

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 03/08/2017

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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