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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.€28m
Last close€3.05
High / Low (52 weeks)€19.6 / €4.3
Stock market listingDE
Forecast net cash (€m)12.3
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual3.0(46.7)(76.2)
Relative *7.0(42.4)(72.6)

* % 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 (mCRC) maintenance will read out in H219. In October, Mologen received termination declarations from the principle creditor for its 2016/2024 and 2017/2025 bonds, an agreement with the principle bond holder has now been reached that should avert immediate payment of both bonds (totalling €6.6m). Mologen recently terminated the negotiations with Oncologie for global assignment of lefitolimod, we place our valuation under review.

Last updated on 29/11/2018

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 6.0 (10.6) (11.1) (0.98) N/A N/A
2019E 7.0 (9.3) (9.7) (0.86) N/A N/A

Last updated on 27/11/2018

Latest video

Executive Interview - Mologen

Industry outlook

Results for IMPALA are expected in 2018/19. Final overall survival (OS) data from IMPACT (Phase II in mCRC) and IMPULSE may offer fresh financing/partnering opportunities for lefitolimod before then.

Last updated on 29/11/2018

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