Symbio Confirms Treakisym’s In-House Commercialization Post Patent Expiration in 2020e

Asia Healthcare Analyst, Pathology Associates Limited

Dion Stéfan Büchner M.D., FCAP

Asia Healthcare Analyst

Pathology Associates Limited

Equity Bottom-Up

Symbio Pharmaceuticals / Equity Bottom-Up

We reiterate our “Overweight” rating on the stock post 1H FY18 (YE Dec-18) earnings1H FY18 Results Highlights<ul>
<li>Symbio reported an increase in 1H FY18 sales (+8.0% to ¥9b) mainly due to an increase in Treakisym sales in Japan. However, the increase in R&amp;D and SG&amp;A expenses led to a higher core operating loss in 1H FY18 (7.2% to -¥1.3b).</li>
<li>Treakisym has been newly designated as the standard-of-care option for malignant lymphoma (ML) as per revised medical practice guideline 2018 issued by JSH (Japan Society of Hematology) on July 20, 2018.</li>
</ul>

We reiterate our “Overweight” rating on the stock post 1H FY18 (YE Dec-18) earnings1H FY18 Results Highlights
Symbio reported an increase in 1H FY18 sales (+8.0% to ¥9b) mainly due to an increase in Treakisym sales in Japan. However, the increase in R&amp;D and SG&amp;A expenses led to a higher core operating loss in 1H FY18 (7.2% to -¥1.3b).
Treakisym has been newly designated as the standard-of-care option for malignant lymphoma (ML) as per revised medical practice guideline 2018 issued by JSH (Japan Society of Hematology) on July 20, 2018.


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