Santhera: Partly de-risked, CS ups

Santhera Pharmaceuticals Holding AG

06/10/2020 07:58

** Credit Suisse upgrades Switzerland-based pharmaceutical
company Santhera  SANN.S  to "neutral" from "underperform"
saying that the new management partly de-risked the company    
    ** The brokerage says the de-risking is driven by early
completion of the SIDEROS trial recruitment, which it assumes
will move a potential launch of Puldysa in the U.S. from Q4 2023
to Q4 2022
    ** Puldysa (idebenone) is an experimental treatment for
respiratory symptoms caused by Duchenne muscular dystrophy (DMD)
    ** Moreover, the broker says the restructured vamorolone
deal granted the company worldwide license for anti-inflammatory
drug candidate vamorolone in all indications and reduced cash
outflow
    ** However, CS adds that funding concerns remain -- it still
sees a need for additional funding of 200 million Swiss francs
($218.63 million) until breakeven in 2022



($1 = 0.9148 Swiss francs)

 ((marta.frackowiak@thomsonreuters.com))