Edison Issues ADR Update on SymBio Pharmaceuticals

Mar 23, 2016, 09:03 ET from Edison Investment Research

LONDON, March 23, 2016 /PRNewswire/ --

Three steps forward, one step back. With the December filing of three supplemental NDAs for Treakisym, SymBio is demonstrating it is willing to move ahead with its strategic plans despite Astellas's decision to withdraw its long-delayed EU application for Treakisym in first-line iNHL. Separately, Baxalta announced on 3 March that it would discontinue its development and licensing agreement with Onconova for rigosertib as of August. Onconova is in discussions with Baxalta; however, it is not clear whether Baxalta will help Onconova obtain alternate funding to complete the trial. Issues with SymBio's partners may have an impact on the timeframes for both rigosertib and the Treakisym label expansion approvals.

     (Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

Our rNPV includes ¥4,261m ($35m) cash, Treakisym, IONSYS and our lowered possibility for IV rigosertib. SymBio will require funding during 2017 and we assume a total funding requirement of ¥6.6bn from 2017-18.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website http://www.edisoninvestmentresearch.com.

About Edison: We are an international equity advisory firm. We enable our client companies to achieve their capital market objectives. The team is made up of more than 80 analysts and investment professionals with many decades of experience. Our extensive company knowledge and industry expertise spans 10 business sectors and more than 700 listed companies globally. We give our corporate clients and investors privileged insight into global investment trends. Our distribution capability is key to ensuring a global investor audience can access our investment knowledge. Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:  
LinkedIn http://www.linkedin.com/company/edison-investment
Twitter  http://www.twitter.com/Edison_Inv_Res
YouTube  http://www.youtube.com/edisonitv
Google+  https://plus.google.com/105425025202328783163/posts

For more information please contact:
Beth Senko
Edison Investment Research

Christian Glennie
Edison Investment Research


SOURCE Edison Investment Research