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Formycon (FYB)

Business description

Formycon is a biotechnology company focused on biosimilars. The lead product is FYB201, a Lucentis biosimilar in Phase III. FYB203 is an Eylea biosimilar in the preclinical stage. They are both partnered. It also has two unpartnered biosimilars: FYB202, a biosimilar candidate of Stelara; and FYB205, an undisclosed biosimilar.

Stock data

Market cap.€286.9m
Last close€30.45
High / Low (52 weeks)€38.8 / €29.2
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(2.9)(13.5)(14.5)
Relative *0.0(7.7)(5.6)

* % Relative to local index

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Company news

Investment summary

Formycon has reported record H118 revenues, boosted by the one-off transfer of FYB202 into a joint venture with Aristo Pharma and payments stemming from the out-licensed assets FYB201 and FYB203. We believe that Formycon biosimilars FYB201 (Lucentis) and FYB203 (Eylea) are set to enter neovascular age-related macular degeneration (nAMD) market post-2020. Cash and equivalents at end-H118 were €11.8m and should give a cash runaway until 2020 based on H118 cash burn. Formycon guides for FY18 revenues of €35m.

Last updated on 27/09/2018

Key management

Dr Carsten Brockmeyer, CEO
Dr Nicolas Comb├ę, CFO
Dr Stefan Glombitza, COO

Company address

Fraunhoferstra├če 15
Martinsried/Planegg
82152
Germany
View website