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EQS-News News vom 05.10.2018

Edison Investment Research Limited: Edison issues outlook on NeuroVive Pharmaceutical (NVP)

Edison Investment Research Limited

05-Oct-2018 / 11:14 GMT/BST


London, UK, 5 October 2018

Edison issues outlook on NeuroVive Pharmaceutical (NVP)

On 18 June 2018, NeuroVive (NVP:SS) announced that it had out-licensed a subset of compounds from its NVP015 programme (succinate prodrugs) to BridgeBio, a private biotech based in California, targeting Leber's Hereditary Optic Neuropathy (LHON) under new subsidiary Fortify Therapeutics. The upfront payment was limited, but the total deal value could reach $60m. NeuroVive is about to initiate a Phase Ib trial with the second lead drug candidate, KL1333 (NAD+ modulator), while both the EMA and FDA have provided positive views on the lead NeuroSTAT Phase IIb programme (TBI). We value NeuroVive at SEK1.64bn or SEK17.9/share.

Our updated valuation of NeuroVive is largely similar at SEK1.64bn or SEK17.9/share compared to SEK1.62bn or SEK17.7/share previously. The positive effect of rolling our model forward was partially offset by a lower net cash position. We maintain the R&D assumptions set out in our initiation report.

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All reports published by Edison are available to download free of charge from its website
www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Jonas Peciulis, +44(0)203 077 5728
Alice Nettleton, +44(0)203 077 5700
Healthcare@edisongroup.com

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