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Equity Bottom-Up

Symbio Pharmaceuticals / Equity Bottom-Up

<p>During 2017 we expect updates on all three of SymBio&#8217;s main assets. We expect Treakisym sales growth via partner Eisai following approvals during 2016 in new indications, which could more than double the current levels (&#165;4.7bn). For pipeline assets IONSYS and rigosertib, data from ongoing trials could become available during H217, which will shape the future development pathways. We also expect SymBio to remain focused on in-licensing further opportunities to complement its existing pipeline. This could help drive future operating leverage if SymBio evolves into a commercial entity, possibly from 2020. We value SymBio at &#165;19.7bn.</p>

During 2017 we expect updates on all three of SymBio&#8217;s main assets. We expect Treakisym sales growth via partner Eisai following approvals during 2016 in new indications, which could more than double the current levels (&#165;4.7bn). For pipeline assets IONSYS and rigosertib, data from ongoing trials could become available during H217, which will shape the future development pathways. We also expect SymBio to remain focused on in-licensing further opportunities to complement its existing pipeline. This could help drive future operating leverage if SymBio evolves into a commercial entity, possibly from 2020. We value SymBio at &#165;19.7bn.

<p>SymBio recently obtained approvals for Treakisym in Japan in the additional indications of first-line low grade non-Hodgkin&#8217;s lymphoma (NHL) and mantle cell lymphoma (MCL). This follows on from the Aug 2016 approval in chronic lymphocytic leukaemia. We believe these additional indications could nearly double current Treakisym sales (on track for c $40m in 2016) via partner Eisai, which to date have been mostly in relapsed or refractory (r/r) low grade NHL/MCL. These approvals represent an important step in SymBio&#8217;s strategy to maximise Treakisym&#8217;s potential.</p>

SymBio recently obtained approvals for Treakisym in Japan in the additional indications of first-line low grade non-Hodgkin&#8217;s lymphoma (NHL) and mantle cell lymphoma (MCL). This follows on from the Aug 2016 approval in chronic lymphocytic leukaemia. We believe these additional indications could nearly double current Treakisym sales (on track for c $40m in 2016) via partner Eisai, which to date have been mostly in relapsed or refractory (r/r) low grade NHL/MCL. These approvals represent an important step in SymBio&#8217;s strategy to maximise Treakisym&#8217;s potential.

Treakisym approvals should lead to sales uplift

Japan

Symbio Pharmaceuticals Limited develops and commercializes prescription drugs n oncology, hematology and auto-immune disease for Japan and other Asia Pacific markets.

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Symbio Pharmaceuticals (4582 JP)

Moving ahead on all fronts

During 2017 we expect updates on all three of SymBio’s main assets. We expect Treakisym sales growth via partner Eisai following approvals during...

Edison Investment Research

Treakisym approvals should lead to sales uplift

SymBio recently obtained approvals for Treakisym in Japan in the additional indications of first-line low grade non-Hodgkin’s lymphoma (NHL) and...

Edison Investment Research

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