- Outperform statement following webcast presentations to investors on 7 August, 2018
- Statement is based on commercial roll-out plans presented by Elanix Management
- Share price target indicated by goetzpartners remains at EUR 6.40
Elanix Biotechnologies AG ("Elanix") has announced today that goetzpartners securities has confirmed their outperform recommendation for Elanix with a target share price of EUR 6.40. The outperform statement is following the webcast presentations for investors hosted by the Elanix management.
Quotes taken from the Flash Note by goetzpartners securities published on 8 August: «We remain enthusiastic about the commercial outlook of Elanix’s Advanced Skin Care ("ASC") and Advanced Wound Care ("AWC") assets, based on their differentiated profiles, large target markets and unmet medical needs. Hence, we maintain and reiterate both our OUTPERFORM recommendation and target price of EUR 6.40 per share».
The outperform recommendation is based on the commercial roll-out of GYNrepair® and the market launch of SKINrepair® in October 2018 with increased sales activities, with the targeted approach to 50 large pharmacies and drugstores key accounts in Germany, France, Switzerland, UK, Italy and Spain, with signed distribution agreements in Benelux, Switzerland and Russia and with approaching distribution partners in the US and Japan.
In addition, Elanix Management has announced plans to launch two additional ASC products in each 2019 and 2020, bringing the total of six ASC products by 2020. Revenues from additional ASC assets, which include gels, masks and creams, will be used to co-finance the further investments into the industrialization and market authorization of AWC portfolio. Financial outlook is anticipating break-even in 2020 and revenues of 33.5 MEUR in 2022.
New COO & CFO Egon Minar is bringing a wealth of commercial expertise to Elanix. With the successful completion of the ongoing capital increase Elanix intends to appoint a finance director who would take over the CFO role in due course to allow Egon Minar to fully focus on operational and commercial activities as well as investor relations.
Tomas Svoboda, CEO
Tel: +41 (0)22 363 66 40
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This announcement also does not constitute a prospectus within the meaning of the EU Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 as amended ("Prospectus Directive").
This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
Elanix develops and commercializes tissue regeneration products for chronic and acute wound care as well as advanced skin care for dermatological and gynecological applications. Additionally, Elanix provides services in celltheraphy and related technologies. The company was founded in 2012 as a spin-out from the University Hospital of Lausanne (CHUV), Switzerland, to commercialize a patented human progenitor cell technology. Progenitor cells are fully differentiated yet immunologically neutral cells that are very potent inducers of tissue growth and healing. Elanix owns GMP certified Master and Working human cell banks with vast quantities of cells.
Elanix has registered headquarters in Berlin, Germany, with offices in Wiesbaden, Germany and Nyon, Switzerland. It is listed in the Regulated Market on the Frankfurt Stock Exchange under the symbol ELN.F. For more information and updates, visit www.elanixbiotechnologies.com
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Elanix Biotechnologies AG
Telefon: +49 (611) 71627677
Telefax: +49 (611) 716927-54
Telefon: +41 (22) 3636640