Orchard Therapeutics plc

NasdaqCM:ORTX Rapport sur les actions

Capitalisation boursière : US$380.1m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Orchard Therapeutics Gestion

Gestion contrôle des critères 4/4

Le PDG Orchard Therapeutics est Bobby Gaspar, nommé en Mar2020, a un mandat de 3.83 ans. La rémunération annuelle totale est $ 1.45M, composée du salaire de 39.6% et des bonus 60.4%, y compris les actions et options de la société. détient directement 0.16% des actions de la société, d'une valeur de $ 611.47K. La durée moyenne de mandat de l'équipe de direction et du conseil d'administration est respectivement 2.7 ans et 5.6 ans.

Informations clés

Bobby Gaspar

Directeur général

US$1.4m

Rémunération totale

Pourcentage du salaire du PDG39.56%
Durée du mandat du directeur général3.8yrs
Propriété du PDG0.2%
Durée moyenne d'occupation des postes de direction2.7yrs
Durée moyenne du mandat des membres du conseil d'administration5.6yrs

Mises à jour récentes de la gestion

Recent updates

Seeking Alpha • Jan 19

Orchard Therapeutics: Still An Attractive Merger Arbitrage Opportunity With A CVR

Summary Orchard is trading slightly above the offered cash value at $16.44. Market ascribes $0.44 out of maximum value of $1 to CVR. This appears rich but may actually undervalue the instrument that's likely to pay out within the year. Read the full article on Seeking Alpha
Article d’analyse • May 09

Revenues Working Against Orchard Therapeutics plc's (NASDAQ:ORTX) Share Price

With a price-to-sales (or "P/S") ratio of 4.7x Orchard Therapeutics plc ( NASDAQ:ORTX ) may be sending very bullish...
Article d’analyse • Mar 10

Is Orchard Therapeutics (NASDAQ:ORTX) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Aug 19

Orchard Therapeutics: Gene Therapy For Rare Child Disease

Orchard Therapeutics has become interesting after its 78% dip plus the fact that a large investment fund quadrupled its position in the stock. The company has commercialized gene therapy to combat MDL, which inflicts children. A competitive analysis reveals the strength of the U.K. based biotech. However, there are weaknesses too. This loss-making entity comes at less than $1/share and below a $100 million market cap. The therapy remains expensive. Still, at such a price and given the cash position which should last into 2024, together with the restructuring plan, this is a stock to watch for an eventual FDA approval. I became interested in ORTX after Singapore's Temasek Holdings or the country's biggest and state-owned investment fund boosted its holdings of Orchard Therapeutics Plc (ORTX) from 1 million to 4.32 million shares at around $0.58 in the second quarter of this year. They may have bought the May dip as per in the chart below, but the stock remains down, by 78% during the last year. This downtrend suggests that there is a low demand for its shares by investors, probably as profit margins are all negative and revenues for the second quarter of 2022 (Q2) have decreased to $4.4M from $5.5M on a sequential or quarter-to-quarter basis. ORTX data by YCharts However, it has been improving revenues on a year-on-year basis, which signifies some progress in its products and services. Thus, the aim of this thesis is to provide further analysis, and I start by providing an overview of Orchard's therapy. Libmeldy to Combat MDL Orchard specializes in treating metachromatic leukodystrophy ("MDL") which is characterized by mutations in the ARSA gene in turn leading to a reduction in related enzyme activity in affected children. This is a very rare genetic disease that can be fatal as it causes neurological damage and regression in cognitive (brain) development. It appears either at the late infantile or early juvenile stage, sometimes without any early clinical manifestations (symptoms) of the disease, but, in other cases, it entails cognitive decline or memory loss. In its most severe and common forms, young children quickly lose the ability to walk and interact with people around them, and many die before adolescence. MDL and Gene therapy (seekingalpha.com) As a solution, Libmeldy also referred to as OTL-200 is the first European-approved therapy for patients with early-stage MLD who meet certain clinical eligibility criteria. In Europe, it was approved by the European Medicines Agency ("EMA") in December 2020, making it the first and only approved treatment for this disease as there is no FDA-approved equivalent currently. For this matter, Orchard is working with the FDA and anticipates approval for 2023, but, it is also important to consider alternative treatments. Alternative Treatments Libmeldy is a gene-based therapy that is based first on harvesting stem cells from the blood of patients. The next step is to modify them in order to replace the defective ARSA gene I mentioned earlier with a functional version. The final step is re-introduction into the body in a single intravenous infusion. This makes it less invasive for patients compared to alternatives or more classical treatment methods for combating MLD, ranging from bone marrow, stem cell transplant, or cord blood. Also, these are still undergoing development and can only slow the progression of the disease, not stop it. In these circumstances, one would think that with the FDA approving Libmeldy in 2023 for the highly-lucrative U.S. market, Orchard would suddenly start to reap a lot of sales. However, it is more complicated. First, one problem with Libmeldy is its high cost of £2.8 million ($3.37 million), a reason why it has been labeled as the "World's most expensive drug" after it was approved by the U.K.'s NHS or National Health Service. Thus, given that its revenues are around $5 million, this means that it has only been able to sell only one to two therapies. Second, in the U.S., there are also other emerging therapies some of which are based on enzyme replacement developed by ArmaGen Technologies. There are also other gene-based therapies being developed, but most of these are in the preclinical phase. Even then, these alternative therapies are being continuously developed as they have the capability to address different forms of the disease, not necessarily in its most severe form. At the same time, the classical treatments I mentioned earlier are also being refined in order to be rendered less invasive and can for example be used to treat motor function problems for children inflicted by MDL while leaving the cognitive part to more expensive gene therapy. Therefore, while it does not face competition, Libmeldy's high price means that Orchard will not rapidly capture market share, but rather see a gradual progression in sales, somewhat similar to the progression of its quarterly income figures since 2020 unless it finds some way to reduce prices and get more volume sales. Revenue and Profitability To deliver on revenue growth for Libmeldy in Europe, Orchard has secured agreements with health authorities in Germany, Italy, and the UK, for facilitating access and reimbursement for eligible patients. Currently, patient identification is in progress, and Orchard's therapy is being assessed for reimbursement purposes in France, Spain, Belgium, Netherlands, Luxembourg, Austria, Finland, Norway, and Sweden. According to Orchard's SEC filings, this will deliver more treatments in the second half of this year compared to the first one. Thus, H2-2022 should see more revenues than the $8.84 million for the first half as per the table below. In addition to Libmeldy for MDL, Orchard has another product approved in the EU, which is Strimvelis. This is another gene therapy for the treatment of ADA-SCID, a condition whereby the body's defenses stop working because of a deficiency in the genes. Thus, out of the total revenue of $3.8 million from product sales for Q2, $0.6 million was from Strimvelis and the rest from Libmeldy. Statement of operations (www.seekingalpha.com) As for expenses, these included the cost of product sales of $1.1 million, including manufacturing and royalties paid to third parties. Additionally, R&D expenses of $22.0 million for Q2, were up only by $0.2 million for the same period in 2021 with the expectation being for costs to decline in the H2-2022 due to updating of the research portfolio and associated workforce reduction as part of a restructuration. In this respect, in addition to lab work and clinical trials, R&D also includes costs pertaining to regulatory activities in order to get Libmeldy approved in the U.S, including commercialization efforts for a potential launch in 2023. Thanks to the restructuring-related savings, the company was able to reduce operating expenses by $0.8 million in Q2, thereby reducing losses. I find this cost reduction rationale as opposed to a business-as-normal strategy to be more aligned to the current high wage inflation impacting the U.K. where Orchard is based. Such an approach allows the company to use existing cash and not increase debt levels. Valuations and Risks Another positive is collaboration revenue of $0.6 million for OTL-105 with Pharming Group N.V. (NASDAQ:PHAR) in exchange for R&D work covering stem cell gene therapy for the treatment of hereditary angioedema, a life-threatening rare disorder. This shows that Orchard has a rich pipeline with other therapies at the preclinical, clinical, and regulatory levels (diagram below) which it can monetize as part of collaborations.
Seeking Alpha • Aug 04

Orchard Therapeutics GAAP EPS of -$0.40 misses by $0.14, revenue of $4.37M beats by $1.19M

Orchard Therapeutics press release (NASDAQ:ORTX): Q2 GAAP EPS of -$0.40 misses by $0.14. Revenue of $4.37M beats by $1.19M.
Seeking Alpha • Jan 20

Orchard Therapeutics: Shadow Of Former Glory

ORTX has fallen to a tenth of its mid-2020 value. No specific catastrophe, just a slow erosion of the company, has caused this. Prices are low enough to be attractive, but I will still stay neutral and wait for some derisking event before taking a call.
Seeking Alpha • Aug 16

Orchard Therapeutics: Cutting-Edge Science Beset With A Pioneer's Typical Hurdles

ORTX is a developer of autologous gene therapies for rare diseases. Recent regulatory updates have taken the stock down. While there's a lot of promise in science, we will stay on the sidelines.
Article d’analyse • Jun 14

Orchard Therapeutics (NASDAQ:ORTX) Has Debt But No Earnings; Should You Worry?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Article d’analyse • Feb 03

What Is The Ownership Structure Like For Orchard Therapeutics plc (NASDAQ:ORTX)?

If you want to know who really controls Orchard Therapeutics plc ( NASDAQ:ORTX ), then you'll have to look at the...
Article d’analyse • Jan 08

Is Orchard Therapeutics plc (NASDAQ:ORTX) Trading At A 26% Discount?

How far off is Orchard Therapeutics plc ( NASDAQ:ORTX ) from its intrinsic value? Using the most recent financial data...
Article d’analyse • Dec 11

Reflecting on Orchard Therapeutics' (NASDAQ:ORTX) Share Price Returns Over The Last Year

The nature of investing is that you win some, and you lose some. Anyone who held Orchard Therapeutics plc ( NASDAQ:ORTX...

Analyse de la rémunération des PDG

Comment la rémunération de Bobby Gaspar a-t-elle évolué par rapport aux bénéfices de Orchard Therapeutics?
DateRémunération totaleSalaireBénéfices de l'entreprise
Sep 30 2023n/an/a

-US$73m

Jun 30 2023n/an/a

-US$85m

Mar 31 2023n/an/a

-US$124m

Dec 31 2022US$1mUS$573k

-US$151m

Sep 30 2022n/an/a

-US$179m

Jun 30 2022n/an/a

-US$168m

Mar 31 2022n/an/a

-US$154m

Dec 31 2021US$4mUS$605k

-US$145m

Sep 30 2021n/an/a

-US$142m

Jun 30 2021n/an/a

-US$126m

Mar 31 2021n/an/a

-US$137m

Dec 31 2020US$4mUS$543k

-US$152m

Sep 30 2020n/an/a

-US$164m

Jun 30 2020n/an/a

-US$180m

Mar 31 2020n/an/a

-US$183m

Dec 31 2019US$921kUS$344k

-US$163m

Sep 30 2019n/an/a

-US$143m

Jun 30 2019n/an/a

-US$140m

Mar 31 2019n/an/a

-US$246m

Dec 31 2018US$2mUS$338k

-US$230m

Rémunération vs marché: La rémunération totale de Bobby ($USD 1.45M ) est inférieure à la moyenne des entreprises de taille similaire sur le marché US ($USD 2.63M ).

Rémunération et revenus: La rémunération de Bobby a été cohérente avec les performances de l'entreprise au cours de l'année écoulée.

PDG

Bobby Gaspar (60 yo)

3.8yrs
Titularisation
US$1,447,526
Compensation

Dr. Hubert Baburaj Gaspar, M.D. Ph.D. also known as Bobby, has been Chief Executive Officer at Orchard Therapeutics plc (Formerly known as Orchard Therapeutics Limited) since March 18, 2020. He serves as a...

Équipe de direction

NomPositionTitularisationCompensationPropriété
Hubert Gaspar
CEO, Member of Scientific Advisory Board & Executive Director3.8yrsUS$1.45m0.16%
$ 611.5k
Frank Thomas
President & COO4yrsUS$1.21m0.040%
$ 153.8k
Nicoletta Loggia
Chief Technical Officer2.3yrspas de donnéespas de données
Fulvio Mavilio
Chief Scientific Officer2yrspas de donnéespas de données
Renee Leck
Head of Investor Relationsno datapas de donnéespas de données
Benjamin Navon
Director of Corporate Communicationsno datapas de donnéespas de données
John Cerio
Chief Human Resource Officerno datapas de donnéespas de données
Robin Kenselaar
Senior VP & GM of EMEA Commercial Operations5.2yrspas de donnéespas de données
Braden Parker
Chief Commercial Officer3yrspas de donnéespas de données
Leslie Meltzer
Chief Medical Officer2.3yrspas de donnéespas de données
Christopher York
Company Secretary1.9yrspas de donnéespas de données
2.7yrs
Durée moyenne de l'emploi

Gestion expérimentée: L'équipe de direction de ORTX est considérée comme expérimentée (ancienneté moyenne 2.7 ans).

Membres du conseil d'administration

NomPositionTitularisationCompensationPropriété
Hubert Gaspar
CEO, Member of Scientific Advisory Board & Executive Director7.9yrsUS$1.45m0.16%
$ 611.5k
James Arthur Geraghty
Independent Chairman5.7yrsUS$107.72k0.019%
$ 74.1k
Marc Dunoyer
Independent Non-Executive Director5.6yrsUS$71.72k0.016%
$ 62.1k
Charles Rowland
Independent Non-Executive Director5.5yrsUS$90.72k0.0054%
$ 20.5k
Donald Kohn
Member of Scientific Advisory Boardno datapas de donnéespas de données
Alessandra Biffi
Member of Scientific Advisory Boardno datapas de donnéespas de données
Brian Bigger
Member of Scientific Advisory Boardno datapas de donnéespas de données
Simon Jones
Member of Scientific Advisory Boardno datapas de donnéespas de données
Adrian Thrasher
Member of Scientific Advisory Boardno datapas de donnéespas de données
David Williams
Member of Scientific Advisory Boardno datapas de donnéespas de données
Robert Wynn
Member of Scientific Advisory Boardno datapas de donnéespas de données
Harry Malech
Member of Scientific Advisory Boardno datapas de donnéespas de données
5.6yrs
Durée moyenne de l'emploi
67yo
Âge moyen

Conseil d'administration expérimenté: Les membres du conseil d'administration de ORTX sont considérés comme expérimentés (ancienneté moyenne 5.6 ans).

Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2024/01/24 03:43
Cours de l'action en fin de journée2024/01/24 00:00
Les revenus2023/09/30
Revenus annuels2022/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Orchard Therapeutics plc est couverte par 9 analystes. 3 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Charles DuncanCantor Fitzgerald & Co.
Emma NealonCantor Fitzgerald & Co.
Graig SuvannavejhGoldman Sachs