Probiodrug (PBD)

Business description

Probiodrug is a biopharma company developing its clinical pipeline for the treatment of Alzheimer’s. Lead product candidate, PQ912, has entered Ph IIa. PQ912 is a small molecule inhibitor of QC, which is essential for the formation of pGlu-Abeta. Two further products are in preclinical stages.

Stock data

Market cap.€120.5m
Last close€14.72
High / Low (52 weeks)€23.8 / €14.5
Stock market listingEU
Forecast net cash (€m)10.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(10.8)(11.9)(26.3)
Relative *(11.2)(11)(37)

* % Relative to local index

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Company news

Probiodrug AG Announces Acceptance of PQ912 Pharmacology Paper by Peer ...

Tue, 16 May 2017 04:52:30 GMT

Ordinary General Meeting of Shareholders of Probiodrug AG

Wed, 14 Jun 2017 14:26:15 GMT

Probiodrug AG reports First Quarter 2017 Business Update

Fri, 12 May 2017 04:52:30 GMT

Probiodrug AG to Publish its Full Year 2016 Results on 30 March 2017

Thu, 23 Mar 2017 06:00:00 GMT

Probiodrug AG to hold its Ordinary General Meeting of Shareholders on 13 June 2017

Tue, 02 May 2017 14:03:45 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (13.3) (13.5) (196.10) N/A N/A
2016A 0.0 (13.7) (13.8) (181.30) N/A N/A
2017E 0.0 (10.5) (10.5) (128.47) N/A N/A
2018E 0.0 (8.6) (8.7) (105.76) N/A N/A

Last updated on 14/07/2017

Investment summary

Probiodrug is developing a clinical pipeline focusing on the novel target of pGlu-Abeta, a toxic variant of amyloid-beta (Abeta) that has been implicated in the initiation and sustainment of the pathological cascade that leads to Alzheimer’s disease (AD). Lead candidate PQ912 is an inhibitor of the enzyme glutaminyl cyclase, which is essential for the formation of pGlu-Abeta. Initial results from the Phase IIa study, SAPHIR, study were reported on 12 June. While primarily safety/tolerability study, several secondary endpoints especially piqued our interest, with CSF biomarker, EEG and a couple of cognitive tests pointing to a positive overall picture of the dataset. Recently new preclinical data also showed that PQ912 demonstrated efficacy in Huntington’s disease in an animal model. Subject to further preclinical work, PQ912 could be fast-tracked to the clinic, which would diversify Probiodrug’s R&D pipeline with a new indication.

Last updated on 03/08/2017

Industry outlook

There are 44m dementia sufferers worldwide, 60% of whom have AD. The lack of disease-modifying therapies leaves a vast unmet clinical need. This, combined with increasing understanding of the disease process and the development of biomarkers, has led to increased optimism that a disease-modifying therapy may be found.

Last updated on 03/08/2017

Key management

Dr Konrad Glund, CEO
Dr Hendrik Libers, CFO

Company address

Weinbergweg 22
06120 Halle/Saale
Germany
+49 345 555 9900
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