Pixium Vision (PIX)

Business description

Pixium Vision develops retinal implants for patients with severe vision loss. Its lead product Iris is an epi-retinal implant, which received CE mark approval in 2016; a sub-retinal implant (Prima) is expected to start a human study in 2017 .

Stock data

Market cap.€74.6m
Last close€5.65
High / Low (52 weeks)€8.1 / €5.3
Stock market listingEU
Forecast net debt (€m)0.7
Forecast gearing ratio (%)5
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(6.6)(1.1)(32.7)
Relative *(4.6)0.5(43.2)

* % Relative to local index

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Company news

Pixium Vision Receives Clinical Trial Approval from UK Regulatory Authority ...

Tue, 31 May 2016 06:56:15 GMT

Pixium Vision announces CE market approval of IRIS

Mon, 25 Jul 2016 04:52:30 GMT

Pixium Vision Receives NUB Innovation Reimbursement Status-1 for 150 Electrode ...

Tue, 14 Feb 2017 06:01:29 GMT

Pixium Vision Advances in Discussions with FDA for a Feasibility Study with ...

Tue, 13 Jun 2017 05:03:45 GMT

Pixium Vision Announces First Implantation and Activation of IRIS

Thu, 16 Feb 2017 06:00:00 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 3.3 (14.6) (15.6) (123.0) N/A N/A
2016A 2.5 (11.4) (12.4) (98.0) N/A N/A
2017E 4.9 (9.2) (10.8) (85.0) N/A N/A
2018E 14.9 (13.0) (17.3) (135.0) N/A N/A

Last updated on 25/04/2017

Investment summary

Pixium announced on 24 May 2017 that the French Haute Autorité de Santé (HAS) has requested additional clinical data before agreeing to provide exceptional reimbursement under the Forfait Innovation (FI) programme for Pixium’s Iris II implant system. The HAS agreed that the Iris II meets the critical FI eligibility criteria of providing a sufficiently novel and innovative treatment for a significantly unmet medical need (patients severely visually impacted by retinitis pigmentosa). Pixium now plans to provide interim six-month data from its ongoing 10-patient European Iris-II study, which should be available in Q317, to fulfil this requirement. Hence we believe a decision from HAS on potential Iris-II reimbursement under FI is not likely before late Q317 or early Q417.

Last updated on 26/05/2017

Industry outlook

Second Sight (EYES) is commercialising an epiretinal implant (Argus II) in the US and EU. The Iris II offers 150 electrodes (vs 60 on Argus II), potentially offering better vision, while also being the first potentially explantable (and upgradable) epiretinal implant. Prima is less surgically invasive and could potentially be a viable treatment option for macular degeneration patients.

Last updated on 02/05/2017

Key management

Khalid Ishaque, CEO
Didier Laurens , CFO

Company address

74 rue du Faubourg Saint-Antoine
Paris
75012
United Kingdom
+33 1 76 21 47 30
View website