Nuevolution (NUE)

Business description

Nuevolution is a Copenhagen-based biopharmaceutical company. Its patent protected Chemetics drug discovery platform enables the selection of drugs to an array of tough-to-drug disease targets. To date it has entered into 17 agreements with major pharmaceutical companies.

Stock data

Market cap.SEK724.3m
Last closeSEK16.90
High / Low (52 weeks)SEK22.6 / SEK14.9
Stock market listingOMX
Forecast net cash (SEKm)141.9
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(4)(2.5)0.0
Relative *(5.6)0.6(1.6)

* % Relative to local index

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Y/E Jun Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2016A 21.3 N/A (151.9) (4.0) N/A N/A
2017A 120.3 N/A (9.4) (0.6) N/A N/A
2018E 104.9 N/A (32.1) (0.5) N/A N/A
2019E 229.2 N/A 87.6 1.3 1300.0 9.0

Last updated on 15/03/2018

Investment summary

Nuevolution’s 2017 was defined by internal progress of the RORγt inhibitor and BET-BD1 programmes (expected to be clinically ready in 2019). In 2018 we anticipate value will be driven by new and existing partners, for example we expect Almirall to initiate a RORγt inhibitor Phase I trial in late 2018, making it the first Nuevolution product candidate to enter the clinic. In addition to existing collaborations, a new partnership is anticipated by Nuevolution in the next three to nine months. If achieved, revenue from these events will aid Nuevolution’s strategy of transitioning into a clinical stage biotech. We value Nuevolution at SEK21.0/share or SEK901m from SEK21.4/share (SEK917m) previously.

Last updated on 15/03/2018

Industry outlook

Significant promise is seen in DNA-encoded libraries due to the potential to rapidly develop small molecule drugs to ‘tough-to-drug’ targets. We continue to see major investment in the space from an array of companies, notably GSK, Roche and Novartis.

Last updated on 02/03/2018

Key management

Alex Gouliaev, CEO
Henrik Simonsen , CFO
Thomas Franch, Chief Scientific Officer
Ton Berkien, Chief Business Officer

Company address

Ronnegade 8
Copenhagen
2100
Denmark
+45 7020 0987
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