Edison Investment Research Limited: Polyphor (POLN): Balixafortide Phase III data coming soon

London, UK, 5 October 2020

Polyphor (POLN): Balixafortide Phase III data coming soon

Polyphor is a development-stage company focused on oncology and antibiotics. Its lead programme is balixafortide, a C-X-C chemokine receptor type 4 (CXCR4) inhibitor currently in a randomised-controlled Phase III trial in 407 previously treated human epidermal growth factor receptor 2 (HER2) negative advanced breast cancer patients. Objective response rate (ORR) data from the trial are expected in Q221 and could allow for an accelerated approval filing in the US. Additionally, it plans to start its Phase I programme of inhaled murepavadin to treat P. aeruginosa infections in cystic fibrosis (CF) patients by the end of the year.

We value Polyphor at CHF413m or CHF37 per basic share using a risk-adjusted net present value (NPV) model. We currently only attribute value to balixafortide as it is the only programme in human clinical trials. Once inhaled murepavadin enters the clinic we expect to include it in our valuation. The company had CHF42m in net cash (CHF44m gross cash) at 30 June 2020 and will likely need to raise cash in 2021, which we estimate at CHF40m. 
 

Click here to view the full report.

Subscribe to Edison's content to receive reports by email.

All reports published by Edison are free-to-access and available on the website.

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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.

For more information please contact Edison:

Maxim Jacobs,  +1 646 653 7027

Nathaniel Calloway, +1 646 653 7036

[email protected]

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        https://www.linkedin.com/company/edison-group-

Twitter           www.twitter.com/Edison_Inv_Res

YouTube       www.youtube.com/edisonitv