Fra Kempens Industri rapport - Life Scienes - update Q2 2021:
Hansa: Under pressure for no specific reason
Under pressure for no specific reason As we highlighted in Jan'20 (here), we expected the combination of limited news flow with anticipation of quarterly sales updates for imlifidase in Europe to lead to volatilityfor Hansa - and so it happens. The stock has come down 40-50% since the streak of good news in mid'20, now trading at levels pre imlifidase EU approval and Sarepta'spartnership, and basically reflecting only the value of kidney transplantation in the EU and cash.
We expect 2021 to be a transformational year for Hansa, with acontinuous focus on imlifidase in kidney transplantation (EU commercial roll-out, USRCT trial initiation, etc.), while the company builds the pipeline further with i) plans for a path forward in anti-GBM, ii) continued enrollment in the phase I/II trials inAMR and GBS for which data in H2'22 would open up significantly larger marketsopportunity, and iii) BD efforts in gene therapy, oncology and combination therapies(like the one with argenx, here).
We continue to see a good long-term setup for Hansa with key clinical readouts in 2022 and free upside from potential additionalpartnerships in gene therapy and other fronts.
Hansa: Under pressure for no specific reason
Under pressure for no specific reason As we highlighted in Jan'20 (here), we expected the combination of limited news flow with anticipation of quarterly sales updates for imlifidase in Europe to lead to volatilityfor Hansa - and so it happens. The stock has come down 40-50% since the streak of good news in mid'20, now trading at levels pre imlifidase EU approval and Sarepta'spartnership, and basically reflecting only the value of kidney transplantation in the EU and cash.
We expect 2021 to be a transformational year for Hansa, with acontinuous focus on imlifidase in kidney transplantation (EU commercial roll-out, USRCT trial initiation, etc.), while the company builds the pipeline further with i) plans for a path forward in anti-GBM, ii) continued enrollment in the phase I/II trials inAMR and GBS for which data in H2'22 would open up significantly larger marketsopportunity, and iii) BD efforts in gene therapy, oncology and combination therapies(like the one with argenx, here).
We continue to see a good long-term setup for Hansa with key clinical readouts in 2022 and free upside from potential additionalpartnerships in gene therapy and other fronts.
