Kiadis Pharma (KDS)

Business description

Kiadis Pharma is a biotech company focused on cell-based immunotherapies to overcome complications associated with stem cell transplants in blood diseases. ATIR101 for leukaemia is in Phase II and will file for EU approval in Q117. ATIR201 (thalassemia) started a Phase I/II in December 2016.

Stock data

Market cap.€134.5m
Last close€7.78
High / Low (52 weeks)€11.3 / €5.2
Stock market listingEU
Forecast net cash (€m)3.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(4.8)50.3(13.2)
Relative *(3.4)42.5(26)

* % 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)
2014A 0.0 (6.0) (7.2) (74.62) N/A N/A
2015A 0.0 (15.9) (17.4) (136.50) N/A N/A
2016E 0.0 (8.6) (10.0) (71.58) N/A N/A
2017E 0.0 (11.9) (13.5) (96.42) N/A N/A

Last updated on 13/10/2017

Investment summary

Kiadis Pharma is developing T cell-based therapies to address the issues associated with haematopoietic stem cell transplantation (HSCT). The company uses its Theralux technology to develop ATIR101 and ATIR201 as adjunct therapies to HSCT in leukaemia and thalassemia, respectively. On the back of Phase II data, Kiadis filed a Marketing Authorisation Application (MAA) of ATIR101 with the EMA in April 2017. A Phase III trial has been approved in several countries. ATIR101 has FDA Regenerative Medicine Advanced Therapy (RMAT) designation. ATIR201 is in a Phase I/II trial. Cash at 30 June 2017 was €10.7m. Kiadis raised €18m in Oct 2017 and has a debt facility of up to €15m.

Last updated on 02/11/2017

Industry outlook

Kiadis's Theralux platform allows the infusion of lymphocytes from a partially matching (haploidentical) family member to the donor as it eliminates cells that could react against the host’s immune cells and cause complications such as Graft vs Host Diasease (GVHD). Positive one year data (Event-Free Survival and Overall Survival) from Phase II clinical trial with ATIR101 was presented at the ASH 58th Annual Meeting in San Diego, USA. OS was 61% for the ATIR101 arm vs 20% of a historic control group receiving HSCT only. GFRS was 57% for HSCT+ATIR101 vs 20% for the control group.

Last updated on 02/11/2017

Key management

Arthur Lahr, CEO
Robbert van Heekeren, CFO

Company address

Entrada 231-234
1114 AA, Amsterdam, The Netherlands
Netherlands
+31 (0)20 314 02 50
View website