LONDON, July 16, 2018 (GLOBE NEWSWIRE) — Transgene develops virus-based product candidates for use in oncology and infectious diseases, its five clinical products are currently in 11 clinical trials across a variety of indications, its most advanced is Phase III trial with Pexa-Vec in first-line Hepatocellular Carcinoma with data anticipated in 2019. Its strategy remains to develop its candidates in combination with approved treatments, notably immune checkpoint inhibitors (ICIs). It anticipates eight clinical readouts across its five clinical candidates by year end, notably TG4010 in combination with Opdivo and chemo in first-line NSCLC. We value Transgene at €4.65/share vs €3.80/share previously.
We value Transgene at €289m (€4.65/share) vs €236m (€3.80/share) previously based on a risk-adjusted NPV model of TG4010, TG4001, TG1050, Pexa-Vec and TG6002. We have extended some of our forecasts to better represent full product sales cycles and pushed back Pexa-Vec launch in the EU to 2021 (from 2020). Additionally, we have rolled forward our model and updated for cash and fx.
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