Hybrigenics (ALHYG)

Business description

Hybrigenics is a French biotech company. It provides protein-protein and small molecule analysis services and is conducting anti-cancer studies on lead drug inecalcitol, primarily in adult leukaemias.

Stock data

Market cap.€28.5m
Last close€0.61
High / Low (52 weeks)€1.0 / €0.4
Stock market listingEG
Forecast net cash (€m)7.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual10.91.7(29.9)
Relative *9.5(1.5)(38.4)

* % Relative to local index

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Company news

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 2.2 (4.4) (5.0) (14.6) N/A N/A
2016A 3.6 (3.8) (4.3) (12.0) N/A N/A
2017E 2.5 (7.8) (8.0) (19.5) N/A N/A
2018E 5.5 (5.1) (5.4) (11.6) N/A N/A

Last updated on 12/12/2017

Investment summary

Hybrigenics has adopted a development strategy with vitamin D3 derivative inecalcitol, focusing on adult haematological cancers. In addition to chronic lymphocytic leukaemia (CLL) and chronic myeloid leukaemia (CML), Hybrigenics is prioritising acute myeloid leukaemia (AML) given inecalcitol's orphan status in the US and Europe and the scarcity of treatment options in this aggressive and difficult to treat leukaemia. Inecalcitol has the potential to enhance rather than replace approved therapies, particularly with its benign safety profile. The company has refocused exclusively on R&D after the MBO of its subsidiary dedicated to proteomic services. Net cash at end July 2017 was €11m.

Last updated on 13/12/2017

Industry outlook

An international Phase II study in AML started in France and the US in H216. Encouraging initial data from a Phase II in CML has been presented. At interim, 33% of patients who had completed one year in the study achieved a deep molecular response (DMR) which may allow patients to discontinue treatment (functional cure). Both trials will be expanded to other countries and combinations with other kinase inhibitors, respectively. Finally, the collaboration with Servier on ubiquitin-specific proteases is ongoing and the company received a milestone payment of €1.5m during H116.

Last updated on 13/12/2017

Key management

Alain Muňoz, Chairman
Rémi Delansorne, CEO
Guillaume Floch, CFO

Company address

3-5 impasse Reille
75014
Paris
France
01 58 10 38 00
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