Newron Pharmaceuticals (NWRN)

Business description

Newron is a CNS-focused biotech. Xadago (partnered with Zambon, US WorldMeds, Meiji Seika, Sequirus) for PD has been launched in Europe and the US. Other pipeline assets include Sarizotan (Phase III for RS) and Evenamide (Phase II for schizophrenia).

Stock data

Market cap.CHF160.9m
Last closeCHF9.02
High / Low (52 weeks)CHF27.7 / CHF8.8
Stock market listingSW
Forecast net cash (€m)63.2
Forecast gearing ratio (%)N/A
SectorPharmaceutical & healthcare

Price performance

Relative *(11.6)(11.3)(67.6)

* % 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 2.4 (17.6) (18.3) (117.21) N/A N/A
2016A 6.7 (15.3) (15.2) (103.69) N/A N/A
2017E 15.1 (14.0) (13.6) (72.47) N/A N/A
2018E 17.9 (15.9) (15.3) (81.36) N/A N/A

Last updated on 02/02/2018

Investment summary

Newron's lead product, Xadago (safinamide) for Parkinson's disease (PD) has been launched in 12 European countries and is generating sales through commercial partner Zambon (ex-Japan/Asia). Additionally, Xadago has been launched in the US by sublicensee US WorldMeds. Following positive phase II/III data (Japan), partner Meiji plan to submit the salfinamide MAA in Japan during 2018. Other pipeline assets include sarizotan for Rett syndrome, the pivotal trial STARS (placebo-controlled Phase II/III trial) to investigate breathing disorders associated with RS has initiated. Full data from the Phase II study of evenamide as an add-on to atypical antipsychotics, published in March 2017, demonstrated efficacy in terms of improvement on the symptoms of schizophrenia assessed by the Positive and Negative Syndrome Scale (PANSS). Newron raised CHF27m in 2017 in a private placement that it expects will help fund operations through 2019.

Last updated on 02/03/2018

Industry outlook

Parkinson's disease is a growing market. Xadago could have a unique position, with once-a-day dosing and a clean safety profile.

Last updated on 02/03/2018

Key management

Stefan Weber, CEO
Marco Caremi, Executive VP of Business Development

Company address

Newron Pharmaceuticals SpA
via Ludovico Ariosto 21
Bresso (Mi)
+39 02 610 3461
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