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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Cosmo Pharmaceuticals N.V.    COPN   NL0011832936

COSMO PHARMACEUTICALS N.V.

(COPN)
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Cosmo Pharmaceuticals Receives Complete Response Letter from the FDA on Methylene Blue MMX NDA

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05/23/2018 | 01:05am EST

Cosmo Pharmaceuticals Receives Complete Response Letter from the FDA on Methylene Blue MMX NDA

Dublin - May 23, 2018 - Cosmo Pharmaceuticals NV (SIX: COPN) today announced that it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding its submission of a New Drug Application (NDA) for Methylene Blue MMX, which is intended as a visualization aid to increase detection of lesions in the colon.

The CRL is consistent with the preliminary feedback Cosmo announced on May 9, 2018, stating that the FDA identified unspecified deficiencies that preclude the continuation of the discussion of labeling and post-marketing requirement/commitments. The CRL states that the FDA has determined it cannot approve the NDA in its present form and provides recommendations needed for resubmission.

The FDA did not raise any safety or manufacturing concern. The CRL states instead that, although the outcome of the phase III trial has translated in a statistically significant outcome, the outcome is not sufficiently "robust" and thus recommends Cosmo to provide confirmation of effectiveness with a second phase III trial.

"We are extremely disappointed for all patients looking for more effective colonoscopy and we strongly disagree with the FDA conclusions," said Alessandro Della Chà, chief executive officer of Cosmo Pharmaceuticals NV. "This decision fails to consider the benefit-risk of Methylene Blue MMX and the high unmet medical need. We believe the concerns raised by the FDA are fully addressable, thus we will work to have a meeting with the FDA as quick as possible."

Cosmo does not expect its guidance for 2018 to change at this point in time because, whilst there might not be Methylene Blue MMX revenues in this year, there also won't be the associated product launch and sales force costs.




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Financials (EUR)
Sales 2019 47,1 M
EBIT 2019 -17,5 M
Net income 2019 -27,6 M
Finance 2019 117 M
Yield 2019 -
P/E ratio 2019 -35,8x
P/E ratio 2020 -60,3x
EV / Sales2019 18,0x
EV / Sales2020 9,58x
Capitalization 966 M
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Mean consensus HOLD
Number of Analysts 4
Average target price 101,78  €
Last Close Price 66,04  €
Spread / Highest target 107%
Spread / Average Target 54,1%
Spread / Lowest Target 7,24%
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Managers
NameTitle
Alessandro E. Della Chà Chief Executive Officer & Executive Director
Mauro Severino Ajani Chairman
Giuseppe Cipriano Chief Operating Officer
Niall Donnelly Chief Financial Officer & Head-Investor Relations
Luigi Moro Chief Scientific Officer
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