Revenue miss, potential study delays weigh on Mithra's shares

Mithra Pharmaceuticals SA

08/03/2022 10:51

** Shares in Mithra Pharmaceuticals  MITRA.BR  drop around
11% after the Belgian-based biotech company missed expectations,
with hints of potential study delays 
    ** "We believe the impact is mainly caused by market
expectations with regards to revenues following the market
launch of their contraceptive drug Estelle mid-2021," a KBC
analyst says
    ** Mithra's FY revenue rose to EUR 22.7 million euros 
($24.68 million), but net and operating losses widened to EUR
116.9 mln and EUR 87.9 mln respectively  urn:newsml:reuters.com:*:nFWN2VA16J
    ** "We believe that there is upside to sales numbers but are
doubtful that (consensus) will raise profit figures considering
it will be more difficult to maintain margins in a climate of
geopolitical uncertainty, strongly rising (raw material) costs,
and stagflation fears," KBC says in a note
    ** The stock touches lowest price and heads for its worst
day in about 2 years
    ** The brokerage also notes delays in hormone therapy
product Donesta Phase III trials could have an impact on market
approval timing in the European market
    


($1 = 0.9199 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))