Photocure (PHO)

Business description

Photocure specialises in photodynamic therapy. Its bladder cancer imaging product is sold as Hexvix in Europe and Cysview in the US. Photocure handles the marketing in Nordic countries and the US, while Ipsen is its marketing partner in the EU.

Stock data

Market cap.NOK547.6m
Last closeNOK25.40
High / Low (52 weeks)NOK49.0 / NOK22.1
Stock market listingNO
Forecast net cash (NOKm)112.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(17.3)6.3(36.2)
Relative *(17.8)(2.5)(47.5)

* % Relative to local index

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Company news

Photocure ASA: Results for the third quarter of 2017

Wed, 08 Nov 2017 06:11:15 GMT

Photocure ASA: Results for second quarter and first half year of 2017

Wed, 23 Aug 2017 05:14:57 GMT

Photocure ASA:US CMS improves reimbursement for Blue Light Cystoscopy with ...

Thu, 02 Nov 2017 07:07:30 GMT

Photocure ASA: FDA grants priority review for Cysview® supplemental New Drug ...

Wed, 18 Oct 2017 06:11:15 GMT

Photocure ASA: Presentation of the third quarter 2017 results

Tue, 31 Oct 2017 10:07:30 GMT

Y/E Dec Revenue (NOKm) EBITDA (NOKm) PBT (NOKm) EPS (øre) P/E (x) P/CF (x)
2015A 134.7 (18.1) (17.4) (82.0) N/A N/A
2016A 143.6 (8.0) 12.8 59.0 43.1 28.5
2017E 150.0 (33.1) (43.9) (204.0) N/A N/A
2018E 242.5 15.9 10.2 47.0 54.0 N/A

Last updated on 13/11/2017

Investment summary

Photocure is a commercial-stage Norwegian specialty pharmaceutical company that currently markets Hexvix/Cysview for diagnosing and managing bladder cancer. Recently, the company announced that the US Centers for Medicare & Medicaid Services (CMS) issued a final rule that would improve reimbursement for a large number of procedures. Also, following positive Phase III results in the surveillance setting, the company filed a supplemental New Drug Application (sNDA) which, if approved, would dramatically increase the addressable market for Hexvix/Cysview.

Last updated on 13/11/2017

Industry outlook

Photocure is a photodynamic therapy company focused on bladder cancer imaging, HPV-related diseases and acne. As its products typically are a combination of a drug and a device, hurdles for generics are typically higher than with other therapeutics.

Last updated on 02/11/2017

Key management

Kjetil Hestdal, CEO
Erik Dahl, CFO

Company address

Hoffsveien 4
NO-0275
Oslo
Norway
+47 22 06 22 10
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