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1. Company Snapshot

1.a. Company Description

Basilea Pharmaceutica AG, a commercial stage biopharmaceutical company, focuses on the development of products that address the medical needs in the therapeutic areas of oncology and anti-infectives.It offers Cresemba, an intravenous and oral azole antifungal drug for the treatment of invasive aspergillosis and mucormycosis in the United States, and the European Union, as well as in Phase III clinical trials for invasive fungal infections in Japan.The company also provides Zevtera, an antibiotic for the treatment of community and hospital-acquired pneumonia, as well as in Phase III clinical trials for the treatment of acute bacterial skin and skin structure infections, and Staphylococcus aureus bacteremia.


In addition, it engages in developing Derazantinib, a small molecule inhibitor, which is in phase 2 clinical trial for bile duct cancer, as well as in phase ½ clinical trial for bladder and stomach cancer; and Lisavanbulin, a tumor checkpoint controller drug.Basilea Pharmaceutica AG was founded in 2000 and is headquartered in Basel, Switzerland.

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1.b. Last Insights on BSLN

Basilea Pharmaceutica AG's recent performance was driven by several positive factors. The company received a significant funding of USD 39 million under the BARDA agreement to advance its novel antifungals, fosmanogepix and BAL2062. This funding will enable Basilea to continue its research and development efforts, potentially leading to new treatment options for patients with severe fungal infections. Additionally, the strong sales performance of Cresemba in the Asia Pacific region and China triggered a milestone payment of USD 2.5 million to Basilea. Furthermore, the commercial availability of Zevtera in the United States has expanded Basilea's product portfolio, providing hospitals with a new treatment option for bacterial infections.

1.c. Company Highlights

2. Basilea Pharmaceutica's Strong FY 2025 Results Set Stage for Continued Growth

Basilea Pharmaceutica reported a robust financial performance for full-year 2025, with total revenue increasing by 11.4% to CHF 232.4 million, driven primarily by a 27% growth in global in-market sales of Cresemba to USD 693 million. The company's net profit came in at CHF 40.2 million, with earnings per share (EPS) beating estimates at '2' relative to expectations of '1.64'. Royalty income also saw a significant 15% year-on-year increase to CHF 111.6 million. Basilea's net cash position more than tripled to CHF 86.9 million, reflecting the company's improving financial health.

Publication Date: Mar -08

📋 Highlights
  • Revenue Growth & Profit:: Total revenue rose 11.4% to CHF 232.4 million, with net profit at CHF 40.2 million and net cash tripling to CHF 86.9 million.
  • Cresemba Sales Surge:: Global sales grew 27% to USD 693 million, driven by 220% growth in Japan and expanding markets in China and the U.S.
  • Zevtera U.S. Expansion:: Secured Medicaid and 340B pricing inclusion, with U.S. peak sales projected at CHF 200–300 million and sales growth expected from Q2 2026 onwards.
  • Pipeline & R&D Funding:: Fosmanogepix Phase III enrollment to conclude by late 2027, and CHF 330 million in non-dilutive R&D funding remains accessible.
  • Future Cash Flow Projections:: CHF 600 million cumulative cash flow from Cresemba and Zevtera (2026–2030), with 2026 revenue from these assets targeting CHF 200 million.

Revenue Growth Drivers

The growth in Cresemba's sales remains a key driver of Basilea's revenue, with significant contributions from established markets, as well as increasing sales in China and Japan, where sales grew 220%. The U.S. launch of Zevtera has also made notable progress, with multiple formulary wins and repeat orders from major hospitals, setting the stage for continued revenue growth. As per the management, revenue from Cresemba and Zevtera is expected to reach around CHF 200 million in 2026, driving a 10% increase in total revenue.

Pipeline Progress and Future Prospects

Basilea's pipeline continues to advance, with fosmanogepix being evaluated in two parallel Phase III studies, expected to complete enrollment in the second half of 2027. Ceftibuten-ledaborbactam is scheduled to start Phase III in early 2027. The company's lead clinical programs have significant market potential, with estimated peak sales of about USD 1 billion for fosmanogepix and USD 500 million for ceftibuten-ledaborbactam. Basilea expects to generate approximately CHF 600 million in cumulative cash flow from Cresemba and Zevtera over the next five years, supporting its growth strategy.

Valuation and Outlook

With a current P/E Ratio of 19.65 and an ROE of 27.95%, Basilea's valuation suggests that the market has high expectations for the company's future performance. The Free Cash Flow Yield of 7.54% indicates a potential return for investors. As analysts estimate next year's revenue growth at 2.6%, the company's guidance for 2026, with expected revenue from Cresemba and Zevtera-related activities growing to around CHF 200 million, is slightly more optimistic. Overall, Basilea's strong FY 2025 results, coupled with its advancing pipeline and improving financials, position the company for continued growth and value creation.

3. NewsRoom

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Basilea erhält zusätzliche USD 6 Mio. von CARB-X für die klinische Entwicklung des Antibiotikums BAL2420

Apr -09

Source: globenewswire.com

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Basilea startet erste klinische Studie am Menschen für neuartiges Antibiotikum BAL2420

Mar -23

Source: globenewswire.com

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Basilea reports strong 2025 full-year results, surpassing revenue and operating profit guidance

Feb -17

Source:

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Basilea erzielt starke Ergebnisse im Geschäftsjahr 2025 und übertrifft Umsatz- und Betriebsgewinn-Guidance

Feb -17

Source: globenewswire.com

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Invasive Fungal Infections Market to Witness Upsurge in Growth at a CAGR of 11.4% (in the US) During the Forecast Period (2025-2034) | DelveInsight

Feb -09

Source:

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Strong Cresemba® (isavuconazole) sales performance in Asia Pacific and China triggers milestone payment to Basilea

Feb -09

Source:

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Basilea joins INCATE to support antifungal innovation

Jan -13

Source:

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Basilea provides portfolio update and outlook

Jan -08

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.00%)

6. Segments

Innovative Pharmaceutical Products

Expected Growth: 5.0%

Basilea Pharmaceutica AG's 5.0% growth in innovative pharmaceutical products is driven by increasing demand for antibiotic resistance treatments, strategic partnerships for drug development, and expansion into emerging markets. Additionally, investments in research and development, as well as a strong pipeline of novel compounds, contribute to the company's growth momentum.

7. Detailed Products

Cresemba

Cresemba is a prescription medicine used to treat adults with invasive aspergillosis, a fungal infection.

Zevtera

Zevtera is a prescription medicine used to treat adults with hospital-acquired pneumonia (HAP) and ventilator-associated pneumonia (VAP).

Ceftobiprole

Ceftobiprole is a cephalosporin antibiotic used to treat severe bacterial infections, including pneumonia and skin infections.

8. Basilea Pharmaceutica AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Basilea Pharmaceutica AG operates in a highly competitive industry, and there are many substitutes available for its products. However, the company's focus on innovation and R&D helps it to stay ahead of the competition.

Bargaining Power Of Customers

Basilea Pharmaceutica AG's customers are primarily healthcare professionals and patients, who have limited bargaining power due to the company's strong brand reputation and high-quality products.

Bargaining Power Of Suppliers

Basilea Pharmaceutica AG relies on a few key suppliers for raw materials and services, which gives them some bargaining power. However, the company's strong relationships with suppliers and its ability to negotiate prices help to mitigate this risk.

Threat Of New Entrants

The pharmaceutical industry is highly regulated, and new entrants face significant barriers to entry. However, the threat of new entrants is still high due to the potential for new companies to disrupt the market with innovative products and business models.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players competing for market share. Basilea Pharmaceutica AG faces intense competition from other companies, which can make it difficult to maintain market share and pricing power.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 109.71%
Debt Cost 6.76%
Equity Weight -9.71%
Equity Cost 6.76%
WACC 6.76%
Leverage -1129.36%

11. Quality Control: Basilea Pharmaceutica AG passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Basilea Pharmaceutica

A-Score: 5.7/10

Value: 4.8

Growth: 8.1

Quality: 8.2

Yield: 0.0

Momentum: 7.5

Volatility: 5.7

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Hyloris Pharma

A-Score: 4.1/10

Value: 6.2

Growth: 6.2

Quality: 4.1

Yield: 0.0

Momentum: 6.5

Volatility: 1.7

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Gubra

A-Score: 4.0/10

Value: 6.2

Growth: 2.6

Quality: 9.9

Yield: 5.0

Momentum: 0.0

Volatility: 0.7

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Compugen

A-Score: 3.8/10

Value: 5.5

Growth: 7.4

Quality: 4.1

Yield: 0.0

Momentum: 5.5

Volatility: 0.3

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BioArctic

A-Score: 3.3/10

Value: 1.2

Growth: 2.6

Quality: 9.9

Yield: 0.0

Momentum: 5.0

Volatility: 1.0

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MediWound

A-Score: 2.9/10

Value: 6.0

Growth: 3.3

Quality: 3.3

Yield: 0.0

Momentum: 3.0

Volatility: 1.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

56.8$

Current Price

56.8$

Potential

-0.00%

Expected Cash-Flows