Edison Issues Outlook on Photocure (PHO)

Sep 21, 2016, 04:23 ET from Edison Investment Research

LONDON, September 21, 2016 /PRNewswire/ --

Photocure is a commercial-stage Norwegian specialty pharmaceutical company that currently markets Hexvix/Cysview, an optical imaging agent for diagnosing and managing bladder cancer. The franchise is currently profitable and sales are growing at a 22% rate so far this year. The company is Phase III-ready for Cevira, a treatment for HPV-related diseases of the cervix, and for Visonac, for moderate to severe inflammatory acne. We value Photocure at NOK1,455m or NOK68/share.

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We value Photocure at NOK1,455m or NOK68 per basic share, down from NOK1,591m or NOK74 per basic share previously. This is mainly due to Hexvix/Cysview sales in the US tracking lower that we had expected. Upcoming catalysts will be the completion of enrolment for the Phase III for Hexvix/Cysview to expand into the surveillance market, final results from that trial and potential partnerships for both Visonac and Cevira.

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Edison Investment Research


SOURCE Edison Investment Research