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    BSLN   CH0011432447

BASILEA PHARMACEUTICA AG

(BSLN)
  Report
Delayed Swiss Exchange  -  11:31:24 2023-01-27 am EST
50.80 CHF   -1.74%
01/24Basilea Pharmaceutica : Updated January 24, 2023
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Basilea announces closing of CHF 75 million senior secured loan agreement with Athyrium

09/21/2022 | 01:16am EST

Basel/Allschwil, Switzerland, September 21, 2022

Basilea Pharmaceutica Ltd (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today the closing of the previously announced CHF 75 million senior secured loan agreement with funds managed by Athyrium Capital Management, LP ("Athyrium").

Adesh Kaul, Chief Financial Officer of Basilea, said: “We are pleased to announce the closing of this loan agreement with Athyrium. The CHF 75 million senior secured loan will be used for the non-dilutive repayment of our convertible bonds, which are due in December 2022 in an outstanding nominal amount of approximately CHF 117 million.”

Basilea plans to pay the remainder of the outstanding amount of the 2022 convertible bonds with cash at hand and intends to repay the CHF 75 million senior secured loan within two years from expected cash flows from its growing commercial business.

The senior secured loan has a two-year term and repayment will start in Q1 2023 on a quarterly basis. Interest payments, excluding fees, are expected to amount to an average of approximately CHF 1.25 million per quarter over the term.

About Basilea

Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have several preclinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements, such as "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

For further information, please contact:

Peer Nils Schröder, PhD

Head of Corporate Communications & Investor Relations
Basilea Pharmaceutica International Ltd, Allschwil
Hegenheimermattweg 167b
4123 Allschwil
Switzerland
Phone +41 61 606 1102
E-mail media_relations@basilea.com
investor_relations@basilea.com

This press release can be downloaded from www.basilea.com.

Attachment


All news about BASILEA PHARMACEUTICA AG
01/24Basilea Pharmaceutica : Updated January 24, 2023
PU
01/24Basilea Forecasts Return to Profit in FY22 Over Anti-infectives Focus
MT
01/24Basilea reports preliminary operating profit for 2022, significantly above guidance
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01/24Basilea reports preliminary operating profit for 2022, significantly above guidance
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Analyst Recommendations on BASILEA PHARMACEUTICA AG
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Financials
Sales 2022 120 M 130 M 130 M
Net income 2022 -15,1 M -16,4 M -16,4 M
Net Debt 2022 89,7 M 97,4 M 97,4 M
P/E ratio 2022 -36,5x
Yield 2022 -
Capitalization 606 M 658 M 658 M
EV / Sales 2022 5,81x
EV / Sales 2023 4,97x
Nbr of Employees 177
Free-Float 88,1%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 50,80 CHF
Average target price 73,82 CHF
Spread / Average Target 45,3%
EPS Revisions
Managers and Directors
David Veitch Chief Executive Officer
Adesh Kaul Head-Corporate Development
Domenico Scala Chairman
Laurenz Kellenberger Chief Scientific Officer
Marc Engelhardt Head-Clinical Research
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