'It's money time' - Stifel resumes Philogen with 'buy'

Philogen

23/01/2023 10:33

** Stifel resumes coverage of Philogen  PHIL.MI  with "buy"
ahead of a report on the results of the Italian pharma group's
Nidlegy EU melanoma phase III expected around mid-year
    ** The broker says Philogen is entering "money time",
expecting the report to unlock Nidlegy's EU opportunity and
significantly de-risk its ongoing U.S. trial
    ** It adds a positive result from the programme could
trigger an out-licensing deal of about 600 million euros as soon
as 2024, or even earlier
    ** Stifel sees other assets such as Fibromun and the OncoFAP
platform as supportive the stock over the medium term 
    ** Shares in Philogen are up 0.8%
 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))