Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Molecular Partners AG    MOLN   CH0256379097

MOLECULAR PARTNERS AG

(MOLN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Molecular Partners jumps after Novartis deal for potential COVID-19 drugs

10/28/2020 | 01:41am EST

* Trials slated to start in November

* Novartis seeks to speed up COVID-19 drug development

* Molecular Partners shares jump as much as a third

ZURICH, Oct 28 (Reuters) - Molecular Partners' shares jumped as much as a third on Wednesday after Swiss drugs giant Novartis inked a deal to license two of the Zurich-based biotech company's antiviral drugs that it hopes to use to treat COVID-19 patients.

Molecular Partners will get an upfront payment of 60 million Swiss francs ($66.2 million), a potential milestone payment of 150 million francs, and a "significant royalty" on sales of the drugs called MP0420 and MP0423.

Molecular Partners' shares rose more than 32% before paring gains to about 20% at 0950 GMT, reducing their year-to-date drop, set into motion in large part by an eye drug that failed to win regulators' blessing, to 12%.

Novartis shares fell 1.7%, continuing their slide from Tuesday after third-quarter sales missed expectations.

First human studies for MP0420 are expected to start in November, Molecular Partners has said, with clinical studies for MP0423 due to begin in the first half of 2021.

Molecular Partners struck a deal with the Swiss government in August to reserve doses of MP0420.

"It has become increasingly clear that to tackle the pandemic at a global level the development of medicines that can prevent and treat the virus, in addition to the development of vaccines, will be crucial," Novartis said.

Novartis's efforts to combat COVID-19 have focused largely on repurposing older medicines, including its malaria drug hydroxychloroquine that won U.S. President Donald Trump's endorsement but flopped in trials.

Novartis does have its own COVID-19 drug-discovery programme, but with a pair of prospective medicines due to enter the clinic only next year, the Molecular Partners deal could help speed up entry into the field.

Molecular Partners is seeking to regain its lustre after its eye drug abicipar, in a partnership with U.S. drugmaker AbbVie, failed to win U.S. Food and Drug Administration approval.

($1 = 0.9070 Swiss francs) (Reporting by John Miller; Editing by Michael Shields and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABBVIE INC. 0.66% 104.89 Delayed Quote.18.47%
MOLECULAR PARTNERS AG 1.62% 21.9 Delayed Quote.25.00%
NOVARTIS AG -0.25% 81.06 Delayed Quote.-11.80%
All news about MOLECULAR PARTNERS AG
11/23MOLECULAR PARTNERS : Doses First Cohort in Phase 1 Trial of COVID-19 DARPin® The..
PU
11/09MOLECULAR PARTNERS : Novartis provides update on CAN-COVID trial in hospitalized..
AQ
11/06Novartis arthritis drug fails to help COVID-19 patients
RE
10/29MOLECULAR PARTNERS : Novartis announces collaboration with Molecular Partners to..
AQ
10/29INTERIM MANAGEMENT STATEMENT Q3 2020 : Emergence of New Opportunities and Strong..
PU
10/28Molecular Partners jumps after Novartis deal for potential COVID-19 drugs
RE
10/28NOVARTIS : Molecular Partners to Develop Therapies for Potential Use Against Cov..
DJ
10/28Molecular Partners jumps after Novartis deal for potential COVID-19 drugs
RE
10/28MOLECULAR PARTNERS : announces collaboration with Novartis to develop two DARPin..
PU
10/06GSK to widen COVID-19 antibody treatment trial after safety clearance
RE
More news
Financials
Sales 2020 32,8 M 36,2 M 36,2 M
Net income 2020 -38,2 M -42,2 M -42,2 M
Net cash 2020 79,5 M 87,8 M 87,8 M
P/E ratio 2020 -14,0x
Yield 2020 -
Capitalization 599 M 662 M 661 M
EV / Sales 2020 15,8x
EV / Sales 2021 7,11x
Nbr of Employees 144
Free-Float 90,2%
Chart MOLECULAR PARTNERS AG
Duration : Period :
Molecular Partners AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MOLECULAR PARTNERS AG
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 27,50 CHF
Last Close Price 21,90 CHF
Spread / Highest target 128%
Spread / Average Target 25,6%
Spread / Lowest Target -8,68%
EPS Revisions
Managers
NameTitle
Patrick Amstutz Chief Executive Officer & Director
William Matt Burns Chairman
Michael Tobias Stumpp Chief Operating Officer
Andreas Emmenegger Chief Financial Officer
Daniel Steiner Senior Vice President-Research
Sector and Competitors
1st jan.Capitalization (M$)
MOLECULAR PARTNERS AG25.00%662
WUXI APPTEC CO., LTD.56.53%37 916
BEIGENE, LTD.72.47%26 060
NEUROCRINE BIOSCIENCES, INC.-11.51%8 928
SPRINGWORKS THERAPEUTICS, INC.76.67%3 259
AXSOME THERAPEUTICS, INC.-27.26%2 808