PharmaMar hits the boards running
PharmaMar (MC:PHMR), the restructured Zeltia, has commenced trading amid positive newsflow, following the recent approvals of anti-cancer drug Yondelis in the US and Japan for the treatment of soft tissue sarcoma. Phase III data for Aplidin in multiple myeloma, expected early in the New Year could be another significant catalyst for the stock. We lift our valuation slightly to €1.07bn or €4.82 per share (from €4.65 per share) ahead of this catalyst.
Zeltia relists as PharmaMar following restructure
The former Zeltia Group has restructured to reposition the company as primarily a pharmaceutical business ahead of a potential US IPO in H216. The new structure was achieved by a reverse merger whereby the oncology division PharmaMar absorbed the former parent company Zeltia, with one PharmaMar share exchanged for each Zeltia share. A US listing could strengthen the company’s financial position, and potentially enable the group to expand its US operations.
To Read the Entire Report Please Click on the pdf File Below