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MagForce (MF6)

Business description

MagForce has a European approved nanotechnology-based therapy to treat brain cancer. Nanoparticles are injected into the tumour and activated by an external magnetic field, producing heat and thermally destroying or sensitising the tumour.

Stock data

Market cap.€148.1m
Last close€5.62
High / Low (52 weeks)€7.7 / €4.6
Stock market listingDB
Forecast net debt (€m)13.8
Forecast gearing ratio (%)111
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(4.4)(7.6)(16.9)
Relative *0.63.81.1

* % Relative to local index

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Company news

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 0.5 (6.6) (7.2) (27.8) N/A N/A
2017A 0.7 (6.7) (7.5) (28.3) N/A N/A
2018E 0.3 (10.2) (11.4) (43.2) N/A N/A
2019E 5.8 (7.8) (9.1) (34.4) N/A N/A

Last updated on 21/11/2018

Investment summary

MagForce is moving forward with its strategy to drive uptake and acceptance (in the US and Europe) of its NanoTherm nanoparticle-based therapy for cancer. MagForce has three centres in Germany commercially capable of treating glioblastoma patients. To accelerate uptake in Europe, MagForce is expanding from Germany into other countries with a loan of up to €35m from the European Investment Bank. Installation of the first device in Poland is expected by year end, with further expansion anticipated in 2019. In the US, its subsidiary MagForce USA has initiated a pivotal clinical trial for prostate cancer. Proceeds from the August 2018 MagForce USA capital increase ($9m gross) will finance the trial to completion, with commercial treatments potentially starting in Q419 (following regulatory approval).

Last updated on 29/11/2018

Industry outlook

MagForce’s NanoTherm therapy has been designed to directly affect tumours from within, while sparing surrounding healthy tissue. Magnetic nanoparticles are directly injected into a tumour and are then heated in the presence of an external magnetic field generated by specialist equipment (NanoActivator). This can destroy or sensitise the tumour for additional treatment.

Last updated on 29/11/2018

Key management

Ben Lipps, Chairman & CEO
Christian von Volkmann, CFO
Barbara von Frankenberg, VP Communications & Investor Relations

Company address

Max-Planck-Strasse 3
12489
Berlin
Germany
+49 30 308 380 0
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