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    BSLN   CH0011432447

BASILEA PHARMACEUTICA AG

(BSLN)
  Report
Delayed Swiss Exchange  -  11:30:43 2023-02-06 am EST
48.65 CHF   -1.52%
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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Basilea announces sale of preclinical oncology program to Twentyeight-Seven Therapeutics

11/02/2022 | 01:16am EST
  • Sale of Basilea’s novel preclinical CLK kinase inhibitors
  • Total payments of up to CHF 354 million
  • Third oncology transaction as part of Basilea’s strategic refocusing on anti-infectives

Basel/Allschwil, Switzerland, November 2, 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 that it has entered into an asset purchase agreement with Twentyeight-Seven Therapeutics, Inc. (“28-7”) for novel inhibitors of CLK kinases, developed by Basilea, that target aberrant splicing of RNA in cancer. 28-7 is a US-based biotech company focused on important RNA and DNA regulators that contribute to the cause and maintenance of cancer, inflammation, and other human diseases.

Adesh Kaul, Chief Financial Officer of Basilea, said: “We are pleased with the sale of our CLK kinase inhibitor program to 28-7, a biotech company with specific expertise in understanding and targeting dysregulation of RNA and DNA processing and sensing, and therefore a preferred partner to move this important program forward. Aberrant RNA splicing is frequently found in human diseases and is increasingly recognized as a hallmark of cancer, thereby creating unique interventions to treat patients with serious diseases. We have secured a participation in the long-term value creation potential of this program and are well on track to complete our strategic refocusing on anti-infectives by the end of the year.”

Under the terms of the agreement, Basilea will receive an upfront payment of CHF 1 million and potential near-term milestone payments of CHF 2 million. Basilea is eligible to receive further payments of up to CHF 351 million upon the achievement of predefined development, regulatory and sales milestones.

In February of this year, Basilea announced its intention to focus on becoming a leading anti-infectives company and therefore to separate its oncology assets. Basilea has already made significant progress in the implementation of the new strategy and expects no material expenses related to oncology activities beyond 2022. Basilea is on track to achieve sustainable profitability from 2023.

About Twentyeight-Seven Therapeutics

Twentyeight-Seven Therapeutics is a leading biotechnology company focused on developing first-in-class small molecule drugs that target proteins involved in the dysregulation of RNA and DNA processing and sensing mechanisms that lead to cancer, inflammation and other serious human diseases. The company’s core technology comes from its four founding scientists, all leading researchers in RNA biology and cancer. www.twentyeight-seven.com

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.

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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
GL
01/24Basilea reports preliminary operating profit for 2022, significantly above guidance
DJ
01/24Basilea Pharmaceutica Ltd Revises Earnings Guidance for the Year 2022
CI
01/11Basilea Pharmaceutica : Updated January 11, 2023
PU
01/11Basilea Lifts FY22 Revenue Outlook on Higher Contribution From Two Drugs
MT
01/11Basilea reports preliminary 2022 revenues, exceeding guidance, and provides portfolio u..
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01/11Basilea reports preliminary 2022 revenues, exceeding guidance, and provides portfolio u..
DJ
01/09Basilea Pharmaceutica Gets CHF20 Million Milestone Payment From Anti-fungal Drug Sales ..
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Analyst Recommendations on BASILEA PHARMACEUTICA AG
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Financials
Sales 2022 120 M 129 M 129 M
Net income 2022 -15,1 M -16,3 M -16,3 M
Net Debt 2022 89,7 M 96,7 M 96,7 M
P/E ratio 2022 -35,0x
Yield 2022 -
Capitalization 581 M 626 M 626 M
EV / Sales 2022 5,60x
EV / Sales 2023 4,77x
Nbr of Employees 177
Free-Float 88,1%
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Last Close Price 48,65 CHF
Average target price 73,82 CHF
Spread / Average Target 51,7%
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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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