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Mologen (MGN)

Business description

Mologen is a German biotech company developing cancer immunotherapies. The lead product is lefitolimod (MGN1703) for metastatic colorectal cancer maintenance, SCLC and HIV. Development of MGN1601, a therapeutic renal cell vaccine, would be reinitiated on successful out-licensing of lefitolimod.

Stock data

Market cap.€22m
Last close€2.35
High / Low (52 weeks)€19.6 / €4.3
Stock market listingDE
Forecast net cash (€m)0.1
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceuticals & healthcare

Price performance

%1m3m12m
Actual2.8(38.2)(79.4)
Relative *(0.9)(37.9)(77.5)

* % Relative to local index

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Company news

Investment summary

Mologen is developing novel immunotherapies for use in the post-chemo maintenance setting (in cancer) and for the treatment of infectious diseases. A pivotal 540-pt Phase III study (IMPALA) for its lead asset lefitolimod in metastatic colorectal cancer maintenance will read out in H219. Mologen recently terminated negotiations with Oncologie for the global assignment of lefitolimod following deal terms that were inferior to those originally agreed. Mologen will now look to out-license lefitolimod after the IMPALA trial to achieve the best possible terms. An agreement with the principle bond holder for its 2016/2024 and 2017/2025 bonds has averted the immediate repayment of both bonds (totalling €6.6m); this is still subject to the approval of creditors, which has been postponed until after the EGM on 26 February 2019. We place our valuation under review.

Last updated on 01/02/2019

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 0.1 (20.6) (20.8) (4.22) N/A N/A
2017A 0.0 (18.7) (19.3) (2.81) N/A N/A
2018E 3.0 (13.6) (14.2) (1.53) N/A N/A
2019E 0.0 (16.3) (17.0) (1.84) N/A N/A

Last updated on 04/01/2019

Latest video

Executive Interview - Mologen

Industry outlook

Immunotherapies are among the most promising class of products for cancer. Mologen's lead asset lefitolimod is an immunotherapy in development for both cancer maintenance and combination therapies.

Last updated on 01/02/2019

Key management

Dr Ignacio Faus, CEO
Walter Miller, CFO
Dr Matthias Baumann, CMO

Company address

Fabeckstr. 30
14195 Berlin
Germany
+49 (0)30 - 84 17 88 - 0
View website