Cardio3 BioSciences (CARD)

Business description

Cardio3 is developing C-Cure - an autologous Ph III stem cell therapy for chronic IHD. An innovative cancer CAR T-cell Phase I therapy, NKG2D, was acquired in 2015. It is also developing high-value cardiac devices: Cathez and CorQuest.

Share price chart

Share chart

Stock data

Market cap.€409.2m
Last close€52.84
High / Low (52 weeks)€55.4 / €30.1
Stock market listingEU
Forecast net cash (€m)23.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual17.237.654.7
Relative *16.325.428.3

* % Relative to local index

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Company news

Maxim Group Starts Cardio3 BioSciences SA (CIBSF) at Buy

Tue, 21 Apr 2015 21:33:45 GMT

Cardio3 BioSciences Reports 2014 Financial and Operating Results

Thu, 26 Mar 2015 10:08:21 GMT

BRIEF-Cardio3 Biosciences intends to change name to Celyad

Wed, 15 Apr 2015 16:02:46 GMT

BRIEF-Cardio3 Biosciences considers listing in the US

Wed, 01 Apr 2015 06:50:13 GMT

BRIEF-Cardio3 Biosciences FY net loss rises to 16.6 mln euros

Thu, 26 Mar 2015 06:33:45 GMT

Investment summary

Cardio3 has disclosed an aggressive and ambitious clinical trial programme to develop its novel Natural Killer CAR therapy. Currently starting a Phase I in AML and MM, Cardio3 aims to start one solid tumour trial per quarter once an initial AML/MM efficacy signal is detected. This potentially moves Cardio3 into large, valuable indications, well away from the crowded space around ALL. Cardio3’s core value is based on C-Cure cardiac cell therapy. Adding CAR AML and MM therapies takes the indicative value to €985m, €121/share. Solid tumour indications might add €519m, €64/share, but are not currently included as still preclinical. Comparable US CAR companies have high valuations on limited clinical data: Juno $5.2bn; Kite $2.4bn. Cardio3 has announced a US IPO.

Last updated on 08/04/2015

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2013A 0.0 (10.8) (12.6) (3.06) N/A N/A
2014A 0.1 (18.3) (18.5) (2.75) N/A N/A
2015E 0.0 (21.4) (21.2) (2.71) N/A N/A
2016E 0.0 (29.8) (29.6) (3.77) N/A N/A

Last updated on 08/04/2015

Latest video

Analyst Interview – Cardio3 BioSciences

Industry outlook

CHART-2 (Phase III, FDA approved) may start in stem cells by mid 2015, after the CHART-1 futility analysis. Medisun may invest €20m extra in Chinese clinical development. Teva's Phase III study could produce data in 2018. Capricor may have Q415 ALLSTAR Ph II data. Novartis, Juno and Kite are active in the CAR-T cancer therapies area; the Cardio3 NKG2D approach is being tested in Phase I in AML and MM and may allow allogeneic therapy.

Last updated on 31/03/2015

Key management

Michel Lussier, Chairman
Dr Christian Homsy, CEO
Patrick Jeanmart, CFO
Dr Gaëtane Metz, COO

Company address

Rue Edouard Belin 12
1435 Mont-Saint-Guibert
Belgium
+32(0)10 39 41 00
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