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1. Company Snapshot

1.a. Company Description

Basilea Pharmaceutica AG, a commercial stage biopharmaceutical company, focuses on the development of products that address the medical needs in the therapeutic areas of oncology and anti-infectives.It offers Cresemba, an intravenous and oral azole antifungal drug for the treatment of invasive aspergillosis and mucormycosis in the United States, and the European Union, as well as in Phase III clinical trials for invasive fungal infections in Japan.The company also provides Zevtera, an antibiotic for the treatment of community and hospital-acquired pneumonia, as well as in Phase III clinical trials for the treatment of acute bacterial skin and skin structure infections, and Staphylococcus aureus bacteremia.


In addition, it engages in developing Derazantinib, a small molecule inhibitor, which is in phase 2 clinical trial for bile duct cancer, as well as in phase ½ clinical trial for bladder and stomach cancer; and Lisavanbulin, a tumor checkpoint controller drug.Basilea Pharmaceutica AG was founded in 2000 and is headquartered in Basel, Switzerland.

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1.b. Last Insights on BSLN

Basilea Pharmaceutica AG's recent performance was driven by several positive factors. The company received a significant funding of USD 39 million under the BARDA agreement to advance its novel antifungals, fosmanogepix and BAL2062. This funding will enable Basilea to continue its research and development efforts, potentially leading to new treatment options for patients with severe fungal infections. Additionally, the strong sales performance of Cresemba in the Asia Pacific region and China triggered a milestone payment of USD 2.5 million to Basilea. Furthermore, the commercial availability of Zevtera in the United States has expanded Basilea's product portfolio, providing hospitals with a new treatment option for bacterial infections.

1.c. Company Highlights

2. Basilea Pharmaceutica's Strong H1 2025 Results Driven by Cresemba and Zevtera

Basilea Pharmaceutica reported a robust financial performance for the first half of 2025, with total revenue reaching CHF 104 million, representing a 36% year-on-year increase. The growth was primarily driven by the continued success of its lead product Cresemba, with global in-market sales reaching USD 612 million, a 25% year-on-year increase, resulting in royalty income of CHF 52.1 million, a 21.7% year-on-year growth. The company's EPS came in at CHF 1.26, below analyst estimates of CHF 2.03. The operating profit was CHF 24 million, a significant increase compared to the first half of 2024. The company's financial strength is further underscored by its reduced debt level, down by CHF 138.3 million since 2022.

Publication Date: Aug -31

📋 Highlights

Revenue Growth and Pipeline Advancements

The revenue growth was fueled by Cresemba's strong performance and the U.S. launch of Zevtera, its antibiotic, through a partnership with Innoviva Specialty Therapeutics. Basilea also made significant advancements in its pipeline, including the initiation of the second Phase III study for its antifungal candidate fosmanogepix and the in-licensing of the oral antibiotic ceftibuten-ledaborbactam, which is expected to enter Phase III clinical development within 18 months. The company secured USD 39 million in BARDA funding to support the development of ceftibuten-ledaborbactam.

Valuation and Financial Metrics

Using the current valuation metrics, Basilea Pharmaceutica's P/S Ratio stands at 2.77, and its EV/EBITDA ratio is 9.01. The company's Return on Invested Capital (ROIC) is 36.76%, and its Return on Equity (ROE) is 158.7%. These metrics indicate a strong financial performance and efficient use of capital. The Net Debt / EBITDA ratio is -0.14, reflecting the company's net cash position.

Future Growth Prospects

Basilea projects total revenue to increase by 8% to CHF 225 million in 2025, driven by the continued growth of Cresemba and Zevtera. The company is expected to incur higher R&D expenses, primarily due to the in-licensing of ceftibuten-ledaborbactam, with anticipated R&D expenses of CHF 105 million. Basilea is also exploring further in-licensing and acquisition opportunities to expand its anti-infective portfolio. Analysts estimate next year's revenue growth at 16.6%.

Pipeline Potential and Cresemba's Exclusivity

Ceftibuten-ledaborbactam offers a potential solution for treating resistant urinary tract infections, with its oral availability allowing for ambulatory use, potentially reducing hospital stays and offering a lower-cost alternative. Cresemba, another key product, is expected to continue growing in markets like Japan despite approaching exclusivity loss in 2027. The positive trend in Asahi Kasei's contributions to revenues suggests continued growth for Cresemba in Japan.

3. NewsRoom

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Sepsis Market is Projected to Boost at a CAGR of 5.1% in the US During the Forecast Period (2025-2034) | DelveInsight

Nov -17

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Strong Cresemba® (isavuconazole) sales performance in Europe triggers USD 30 million milestone payment to Basilea

Nov -04

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Are Robust Financials Driving The Recent Rally In Basilea Pharmaceutica AG's (VTX:BSLN) Stock?

Oct -06

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Basilea awarded BARDA contract for the development of novel oral phase 3-ready antibiotic ceftibuten-ledaborbactam

Sep -25

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Basilea receives USD 25 million funding under BARDA agreement to continue to advance novel antifungals fosmanogepix and BAL2062

Sep -16

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Basilea Pharmaceutica's (VTX:BSLN) Earnings Are Weaker Than They Seem

Aug -27

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Basilea Pharmaceutica First Half 2025 Earnings: Revenues Beat Expectations, EPS Lags

Aug -22

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Basilea on track with strong 2025 half-year results

Aug -19

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.00%)

6. Segments

Innovative Pharmaceutical Products

Expected Growth: 5.0%

Basilea Pharmaceutica AG's 5.0% growth in innovative pharmaceutical products is driven by increasing demand for antibiotic resistance treatments, strategic partnerships for drug development, and expansion into emerging markets. Additionally, investments in research and development, as well as a strong pipeline of novel compounds, contribute to the company's growth momentum.

7. Detailed Products

Cresemba

Cresemba is a prescription medicine used to treat adults with invasive aspergillosis, a fungal infection.

Zevtera

Zevtera is a prescription medicine used to treat adults with hospital-acquired pneumonia (HAP) and ventilator-associated pneumonia (VAP).

Ceftobiprole

Ceftobiprole is a cephalosporin antibiotic used to treat severe bacterial infections, including pneumonia and skin infections.

8. Basilea Pharmaceutica AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Basilea Pharmaceutica AG operates in a highly competitive industry, and there are many substitutes available for its products. However, the company's focus on innovation and R&D helps it to stay ahead of the competition.

Bargaining Power Of Customers

Basilea Pharmaceutica AG's customers are primarily healthcare professionals and patients, who have limited bargaining power due to the company's strong brand reputation and high-quality products.

Bargaining Power Of Suppliers

Basilea Pharmaceutica AG relies on a few key suppliers for raw materials and services, which gives them some bargaining power. However, the company's strong relationships with suppliers and its ability to negotiate prices help to mitigate this risk.

Threat Of New Entrants

The pharmaceutical industry is highly regulated, and new entrants face significant barriers to entry. However, the threat of new entrants is still high due to the potential for new companies to disrupt the market with innovative products and business models.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players competing for market share. Basilea Pharmaceutica AG faces intense competition from other companies, which can make it difficult to maintain market share and pricing power.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 109.71%
Debt Cost 6.76%
Equity Weight -9.71%
Equity Cost 6.76%
WACC 6.76%
Leverage -1129.36%

11. Quality Control: Basilea Pharmaceutica AG passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Basilea Pharmaceutica

A-Score: 5.4/10

Value: 5.4

Growth: 8.1

Quality: 8.2

Yield: 0.0

Momentum: 5.5

Volatility: 5.3

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Gubra

A-Score: 4.5/10

Value: 6.8

Growth: 2.4

Quality: 9.9

Yield: 5.0

Momentum: 2.5

Volatility: 0.3

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Hyloris Pharma

A-Score: 3.8/10

Value: 6.2

Growth: 6.2

Quality: 3.9

Yield: 0.0

Momentum: 5.0

Volatility: 1.3

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Compugen

A-Score: 3.8/10

Value: 6.8

Growth: 7.4

Quality: 4.4

Yield: 0.0

Momentum: 4.0

Volatility: 0.0

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BioArctic

A-Score: 3.2/10

Value: 1.5

Growth: 2.6

Quality: 9.9

Yield: 0.0

Momentum: 5.0

Volatility: 0.3

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MediWound

A-Score: 2.9/10

Value: 6.0

Growth: 3.3

Quality: 3.3

Yield: 0.0

Momentum: 3.5

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

51.6$

Current Price

51.6$

Potential

-0.00%

Expected Cash-Flows