Basilea jumps after antibiotic Zevtera receives FDA nod

Basilea Pharmaceutica AG, Allschwil

04/04/2024 08:30

** Shares in Basilea  BSLN.S  jump around 8% to September
highs after its antibiotic Zevtera (Ceftobiprol) received a U.S.
FDA approval for three indications
    ** The antibiotic was approved for the treatment of
Staphylococcus aureus bloodstream infections, acute bacterial
skin and soft tissue infections and bacterial pneumonia
    ** Basilea expects to find a distribution partner for the
drug around mid-year 2024, it said
    ** "Today's news confirms our expectations and positive view
on Basilea's investment story", Baader Helvea writes
    ** The brokerage values Zevtera at 42 Swiss francs per share
at 90% success rate
        ** "With today's approval, we are likely to increase the
success rate to 100% and with that we might unlock some
additional upside for Basilea's shares" - Baader Helvea 
  
        ** If gains hold, the stock will see its best day since
mid-February 
  


 (Reporting by Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))