Sweden's Medivir Q2 turnover falls
Sweden's Medivir Q2 turnover falls
Overview
Sweden drug developer's Q2 net turnover declined yr/yr, EBITDA loss narrowed
Company completed SEK 140 mln share issue to fund rare bone disease drug development
Recruitment for FLEX-HCC liver cancer study progressing as planned
Outlook
Company says FLEX-HCC patient recruitment is on track, aiming to complete within 12 months
Medivir says financing is secured for all three phase 2 studies
Company expects key value drivers in H2 to include FLEX-HCC recruitment and MIV-711 study preparations
Result Drivers
CLINICAL TRIAL PROGRESS - Co said recruitment for FLEX-HCC phase 2 liver cancer study is on track, with first patient enrolled and high engagement among clinicians
PIPELINE EXPANSION - SEK 140 mln share issue enabled expansion of MIV-711 into Perthes disease and funded all three phase 2 studies
PATENT PROTECTION - Co received Notice of Allowance from USPTO for fostrox plus lenvatinib patent, providing protection until at least April 2041
Company press release: ID:nMFNb680Nn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 1.20 mln |
|
Q2 Adjusted Free Cash Flow |
| -SEK 18.30 mln |
|
Q2 EBITDA |
| -SEK 21.20 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Medivir AB is SEK4.00, about 136.7% above its August 19 closing price of SEK1.69
Reuters Recommended Reads
Aug 19 - Sweden's Cantargia narrows H1 loss, raises SEK 132 mln
Aug 20 - Sweden's Ascelia Pharma Q2 operating loss narrows
Aug 19 - US FDA approves Regeneron's rare bone disorder drug
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)