NeuroVive Pharmaceutical (NVP)

Business description

NeuroVive Pharmaceutical is a Swedish biopharmaceutical company with deep expertise in mitochondrial medicine. It has a diversified portfolio in terms of indications and employs a dual strategy: it develops a core portfolio of assets for orphan diseases and seeks to out-license proprietary products for non-orphan indications.

Stock data

Market cap.SEK211.1m
Last closeSEK2.31
High / Low (52 weeks)SEK6.0 / SEK2.1
Stock market listingUS
Forecast net cash (SEKm)0.4
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(6.3)(19.5)(35.6)
Relative *(9.5)(17.9)(34.7)

* % Relative to local index

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Company news

Investment summary

NeuroVive’s planned rights issue (subject to approval at the EGM) is expected to bring in a minimum guaranteed amount of at least SEK55m (gross), which would extend the cash reach to 2019 and past several R&D events. Namely, the company will be able to initiate two new clinical trials with both leading assets KL1333 (Phase I) for genetic mitochondrial diseases and NeuroSTAT (Phase II) for traumatic brain injury (TBI). In addition, the company will advance its broad preclinical portfolio, aiming to out-license one of the assets, NV556, for NASH. Our updated valuation is SEK1.44bn or SEK18.0/share compared to SEK1.38bn or SEK26.3/share previously.

Last updated on 05/03/2018

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2016A 0.0 (69.9) (70.7) (172.27) N/A N/A
2017A 0.6 (67.9) (70.1) (149.31) N/A N/A
2018E 0.6 (83.4) (83.5) (132.45) N/A N/A
2019E 0.6 (124.3) (124.4) (160.95) N/A N/A

Last updated on 05/03/2018

Latest video

Bitesize briefing - NeuroVive Pharmaceutical

Industry outlook

NeuroVive has a rather diversified portfolio in terms of indications; however, all the assets are based on improving mitochondrial metabolism and function. This puts NeuroVive among the very few experts in mitochondrial medicine in the industry, in our view. Central to NeuroVive’s strategy is maintaining a network of KOLs, academic institutions and research organisations, which help to run innovative design and cost-effective studies.

Last updated on 02/03/2018

Key management

Erik Kinnman, CEO
Catharina Jz Johansson, CFO
Magnus Hansson , Chief Medical Officer
Daniel Schale, Director of Communications

Company address

Medicon Village
Scheelevägen 2, Lund
SE-223 81
Sweden
46 4 62 75 62 20
View website