Diskusjon Triggere Porteføljer Aksjonærlister

Photocure fundamentale forhold (PHO)

Norne Secuities

1Q22 Preview (report due May 11th) Share price: NOK 115.70 Target: NOK 140 (unchanged) Risk: Medium

COVID impact still to be felt, but major improvement likely in rest of ‘22 We keep our positive stance and NOK 140/sh TP on PHO ahead of the 1Q report on May 11th. Pandemic-related uncertainty is still there, and restrictions related to Omicron surge should have had a meaningful impact on growth. However, the pandemic seems to be fading and Photocure should be a big winner of the post pandemic reopening. Pandemic should still be visible in 1Q figures Photocure will release its 1Q22 report on May 11th . Our estimates stand at NOK 95m for revenues, which is flatQoQ, but up 16% YoY, as 1Q a year ago was massively affected by COVID. Still, the growth should be affected by Omicron variant spread and restrictions to hospitals prevailing in many areas. We estimate a negative EBITDA of NOK -1.3m, as the company prepares for postpandemic growth, which should come in the remainder of 2022 and long-term.

There were two worth-mentioning news since our last update on the stock. Photocure decided to change partner in Australia/New Zealand from Juno Pharmaceuticals to Endotherapeutics Group after Juno failed to generate any meaningful traction since 2015. Another news was related to observed Antitumour effect for Hexvix in pre-clinical studies. The news is positive even if these are very early studies, as they complement Hexivx’s already large body of knowledge of TURBT procedures and bladder cancer surveillance done with blue light using Hexvix making the proposition to patients more attractive. Long-term investment case intact We continue to view the PHO investment case standing on three growth legs: I. Short-term growth should come from the US with post-pandemic reopening. Blue Light Cystoscope installations should also pick up significantly now that Karl Storz launches new modernized equipment. II. In the medium-term, European organisation should deliver strong growth as proper sales efforts are being made in the existing Ipsen territories and new ones further turbocharged by the post-pandemic reopening. III. In the long-term, Photocure’s partner Asieris should launch Hexvix in China, which should further improve long-term growth prospects. Long-term growth prospects are furtherstrengthened by the potential approval of Cevira. Buy maintained at the same TP of NOK 140/sh We keep our Buy recommendation and NOK 140/sh TP ahead ofthe 1Q report next week. We strongly believe Photocure is going to be a big beneficiary from the post pandemic reopening, as access to hospitals improves and sales process is eased. Having also in mind the three-pillar growth story, we see plenty of share price appreciation triggers over the next quarters and years.

2 Likes

Photocure ASA: Invitation to presentation of first quarter 2022 financial results

Photocure ASA: Results for the first quarter of 2022

Resultatsmell for Photocure: Ned 47 millioner fra i fjor

Blue Light Cystoscopy continues to make news at AUA 2022

2 Likes

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre :slight_smile:

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

  1. @Rodjer (144 likes)
  1. @roblar (42 likes)
  1. @gabster (41 likes)

Resten av topp 10:

  1. @kreinh (37 likes)

  2. @Savepig (36 likes)

  3. @tooeasy891 (29 likes)

  4. @Fornybar (17 likes)

  5. @myk (15 likes)

  6. @rosk82 (14 likes)

  7. @Quadruple (13 likes)

Gratulerer!

Photocure ASA - Initiation of a share buyback

1 Like

Photocure ASA: Exercise of employee share options and share capital increase

Photocure ASA: Acquisition of own shares under the share buy-back program for incentive scheme

Photocure ASA: Exercise of employee share options

3 Likes

Positive Data from the Danish National Patient Registry presented at the 2022 Nordic Urologisk Forening (NUF) Congress in Helsinki

9 Likes

Photocure ASA: Share capital increase registered

Urologic Oncology: Seminars and Original Investigations
Available online 22 June 2022
In Press, Corrected ProofWhat are Corrected Proof articles?
Clinical-Bladder cancer
Safety of repeat blue light cystoscopy with hexaminolevulinate (HAL) in the management of bladder cancer: Results from a phase III, comparative, multi-center study

Highlights

Repeat instillation of
hexaminolevulinate (HAL) is safe.

Systemic adverse reactions from HAL are rare.HAL is safe following recent intravesical Bacillus Calmette-Guérin.

Abstract

Purpose

The therapeutic benefit of intravesical instillation of hexaminolevulinate (HAL) at the time of transurethral resection of bladder tumor (TURBT) has been demonstrated in multiple studies. The purpose of this study was to prospectively assess the safety of repeated administration of HAL from a phase III pre-trial planned analysis.

Materials and methods

All patients evaluated in the study received at least 1 dose of HAL at the time of office cystoscopy, and a subset of these patients (n = 103, 33.2%) received a second dose a few weeks later at the time of TURBT. Adverse events (AEs) were recorded, and the safety of repeat use of HAL was determined by comparing the proportion of patients with AEs considered causally related to HAL in the surveillance examination compared to the OR examination. Association between categorical variables was tested using Fisher’s Exact Test, and a P < 0.05 was considered statistically significant.

Results

HAL-related AEs were experienced by 6 patients (2.2%) during surveillance cystoscopy and 3 patients (3.4%) following TURBT (P = 0.76); 181 patients (59.5%) had prior exposure to HAL before enrolling in the study with no difference in the number of AEs when comparing prior exposure to HAL to no prior exposure (P = 0.76). Of the patients who previously received intravesical therapy, 8 (2.9%) had at least 1 AE during surveillance compared to 3 (9.7%) who had no prior intravesical therapy (P = 0.09).

Conclusions

Repeat use of HAL is safe even when administered within a few weeks of receiving a dose of intravesical therapy.

https://www.roche.com/investors/updates/inv-update-2022-06-16

Merlin skriver på HO:

"Roche launches human papillomavirus (HPV) self-sampling solution, expanding cervical cancer screening options

En slik screening kan bety voldsom etterspørsel etter Cevira, siden screeningen vil avsløre skjulte tilfeller. Dermed er Cevira mer aktuelt enn noensinne."

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre :slight_smile:

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

  1. @Rodjer (101 likes)
  1. @Savepig (63 likes)
  1. @roblar (42 likes)

Resten av topp 10:

  1. @gabster (41 likes)

  2. @kreinh (38 likes)

  3. @TyrionIV (12 likes)

  4. @Quadruple (12 likes)

  5. @myk (12 likes)

  6. @rosk82 (9 likes)

  7. @theroger (8 likes)

Gratulerer!

Photocure Collaborations at EAU Support the Latest Advancements in Bladder Cancer Technology

6 Likes

Photocure ASA – Share option grant

Photocure Provides Update on Anticipated Commercial Availability of Karl Storz’s New Blue Light System in the United States

Hver måned kårer jeg det jeg kaller Teksperter™ for noen av de mest populære investeringene våre :slight_smile:

Det er de 3 medlemmene som har fått flest likes på innleggene sine de siste 90 dagene. Teksperter™ får også en unikt merke på profilen sin og et trofé-ikon ved siden av navnet sitt. Du kan bli Tekspert™ i flere aksjer/investeringer, og troféet vil bare vises i tråder der du er Tekspert™.

Her er denne månedens Teksperter™ og det mest likte innlegget deres fra de siste 90 dagene:

  1. @Savepig (74 likes)
  1. @Rodjer (71 likes)
  1. @roblar (44 likes)

Resten av topp 10:

  1. @gabster (30 likes)

  2. @kreinh (29 likes)

  3. @myk (23 likes)

  4. @Hayen (20 likes)

  5. @Quadruple (10 likes)

  6. @rosk82 (9 likes)

  7. @Snoeffelen (8 likes)

Gratulerer!

Norne tar ned kursmålet i forkant av kvartalspresentasjonen, men venter vekst:

"Post-pandemic comeback should be seen

We keep our Buy recommendation on PHO share at a lower TP of NOK 120/sh (140) ahead of 2Q report next week, where we expect solid growth to be seen in the figures.

Solid growth and near-zero EBITDA expected for 2Q

Photocure will release its 2Q22 report on August 10th. Our estimates stand at NOK 97m for revenues, which is 19% growth QoQ and 7% YoY. We expect that a better access to hospitals should lead to better sales figures for both Europe and the US after a rather sluggish start of the year. Currency should also play a big role due to the massive strengthening of the USD lately. Notably, this affects not only on the top line but costs as well. Therefore, we still see EBITDA marginally in the negative territory at NOK -2.5m for the closed quarter, as the company ramps up its sales efforts especially in Europe."