New Risk • Nov 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (44% average weekly change). Negative equity (-€32m). Earnings have declined by 7.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 2228x increase in shares outstanding). Revenue is less than US$1m (€172k revenue, or US$181k). Market cap is less than US$10m (€34.0 market cap, or US$35.8). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). New Risk • May 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Negative equity (-€31m). Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (€10.1k market cap, or US$11.0k). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (€1.8m revenue, or US$2.0m). 공시 • May 09
Pharnext SA, Annual General Meeting, Jun 10, 2024 Pharnext SA, Annual General Meeting, Jun 10, 2024. Location: 14 rue de la republique, suresnes France 공시 • Feb 01
Pharnext SA announced that it has received €41.188458 million in funding Pharnext SA announces private placement of 30,783,601,087 shares for an issue price of €0.001338 per shares for gross proceeds of €41,188,458 on January 31, 2024. New Risk • Dec 27
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (52% average weekly change). Negative equity (-€31m). Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (€156 market cap, or US$173). Minor Risk Revenue is less than US$5m (€1.8m revenue, or US$2.0m). 공시 • Jan 04
Pharnext Strengthens Its Senior Leadership Team with the Appointment of Scott Johnson as VP, Head of Quality Pharnext SA announces the appointment of Scott Johnson as VP, Head of Quality. This appointment further strengthens the Company's Senior Leadership Team. Scott has more than 15 years of experience in quality management and compliance within the healthcare sector. He joins from Oyster Point Pharma, where he was Head of Quality Assurance. There, he established and implemented a comprehensive quality management system and oversaw all quality-related functions during the submission of an NDA application and successful launch of Oyster Point's first commercial product. Prior to Oyster, Scott served as Director, Quality Assurance at Lupin Pharmaceuticals where he had overall responsibility for quality and compliance. He has also held roles at Johnson & Johnson and Warner Chilcott. Scott has a BA in Organizational Management from the Eastern University, St. David's, PA and previously served in the United States Navy. At Pharnext, Scott will continue to develop and maintain the Company's Quality strategy and ensure its operational execution. He will oversee the Quality activities in the areas of Manufacturing (Good Manufacturing Practices), Laboratory (Good Laboratory Practices) and Clinical (Good Clinical Practices) to ensure compliance with regulatory requirements. Scott will also be responsible for promoting a quality mindset across the Company and working with cross-departmental leadership to ensure the delivery of high-quality products and services. Price Target Changed • Nov 16
Price target decreased to €2.50 Down from €6.20, the current price target is provided by 1 analyst. New target price is 2,499,900% above last closing price of €0.0001. Stock is down 100% over the past year. The company is forecast to post a net loss per share of €1.29 next year compared to a net loss per share of €1.01 last year. Board Change • Nov 16
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 8 non-independent directors. Director Hugo Brugiere was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Major Estimate Revision • Oct 24
Consensus revenue estimates fall by 42% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from €4.13m to €2.40m. Forecast losses increased from -€0.68 to -€1.29 per share. Biotechs industry in France expected to see average net income growth of 8.4% next year. Consensus price target of €2.50 unchanged from last update. Share price fell 33% to €0.0002 over the past week. Reported Earnings • Oct 17
First half 2022 earnings released First half 2022 results: Net loss: €19.1m (loss widened 41% from 1H 2021). Revenue is forecast to stay flat during the next 2 years compared to a 30% growth forecast for the Biotechs industry in France. Major Estimate Revision • Jun 29
Consensus estimates of losses per share improve by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €3.90m to €4.13m. EPS estimate increased from -€0.77 per share to -€0.68 per share. Biotechs industry in France expected to see average net income growth of 10% next year. Consensus price target of €2.50 unchanged from last update. Share price fell 2.9% to €0.0034 over the past week. 공시 • May 16
Pharnext Announces New Results from the Ongoing Open-Label Follow-Up Extension Study of PXT3003 Pharnext SA announced new results from the ongoing open-label follow-up extension study of PXT3003 in Charcot-Marie-Tooth Disease Type 1A (‘CMT1A’), the PLEO-CMT-FU trial, which followed the first double-blind, placebo controlled Phase III study, the PLEO-CMT trial. In January 2020 and April 2021, Pharnext reported results, based on previous data extraction from the PLEO-CMT and PLEO-CMT-FU trials, suggesting sustained safety and efficacy of PXT3003 in patients with mild-to-moderate CMT1A. The new results announced are derived from a data extraction performed on April 25th, 2022, which shows the continuous treatment effect for CMT1A patients treated with PXT3003 High Dose (‘HD’) in the PLEO-CMT-FU Period 2 trial with a data readout at 60 months of total trial time (15 months of PLEO-CMT trial + 9 months of PLEO-CMT-FU trial period 1 + 36 months of PLEO-CMT-FU trial period 2). Please refer to an illustration of the first PXT3003 Phase III program design in the “About the PLEO-CMT-FU Trial” section below for more details. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 10 non-independent directors. Independent Non-Executive Director Piers Morgan was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Dec 07
Consensus revenue estimates increase to €3.59m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from €2.57m to €3.59m. Forecast losses expected to reduce from -€1.16 to -€0.96 per share. Biotechs industry in France expected to see average net income growth of 3.4% next year. Consensus price target of €6.20 unchanged from last update. Share price fell 22% to €0.073 over the past week. Reported Earnings • Oct 16
First half 2021 earnings released First half 2021 results: Net loss: €13.6m (loss widened 49% from 1H 2020). Reported Earnings • May 02
Full year 2020 earnings released Full year 2020 results: Net loss: €21.6m (loss narrowed 7.5% from FY 2019). Products in clinical trials Phase II: 1 Phase III: 1 공시 • Apr 29
Pharnext SA Announces New Results from an Interim Analysis from the Ongoing Open-Label Phase III Extension Study Shows Sustained Benefits of PXT3003 for Patients with Charcot-Marie-Tooth Disease Type 1A Pharnext SA announces new results from an interim analysis of an ongoing open-label follow-up extension study (‘PLEO-CMT-FU trial’) following the first double-blind, placebo-controlled Phase III study (‘PLEO-CMT trial’) of PXT3003 for the treatment of Charcot-Marie-Tooth Disease Type 1A (‘CMT1A’). There is currently no approved drug treatment for CMT1A. In January 2020, the company reported interim results suggesting sustained safety and efficacy of PXT3003 in patients with mild-to-moderate CMT1A after 24 months of total trial time (PLEO-CMT and PLEO-CMT-FU Period 1 trials). The new results announced continue to show sustained treatment benefits for CMT1A patients treated with PXT3003 at High Dose (‘HD’) in the PLEO-CMT-FU Period 2 trial with a data readout at 54 months of total trial time (double-blind + open-label). Highlights from an analysis of available data include: PXT3003 was safe and well tolerated. Data are consistent with observed safety profile in prior clinical trials. Data on the Overall Neuropathy Limitations Scale (‘ONLS’), which measures patients’ functional motor disability, are as follows (please refer to the diagram below for graphical illustration): During PLEO-CMT (double-blind Phase III study), patients treated with placebo on average declined on ONLS while patients treated with PXT3003 on average improved. The best efficacy signal was observed in the cohort of patients treated with PXT3003 HD. During PLEO-CMT-FU (open-label Phase III Extension study), on average patients improved on ONLS across all patient cohorts. Patients treated with placebo declined on ONLS during the double-blind phase, but then improved when switched to PXT3003 in the ongoing open-label phase. Patients treated with PXT3003 during the double-blind phase continue to improve when pursuing their treatment with PXT3003 in the ongoing open-label phase. New results with available ONLS data after 54 months of total trial time suggest a better efficacy signal with PXT3003 HD in this patient population. Reported Earnings • Nov 16
First half 2020 earnings released: €0.63 loss per share First half 2020 results: Net loss: €9.09m (loss narrowed 26% from 1H 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 17
First half earnings released Over the last 12 months the company has reported total losses of €20.1m, with losses narrowing by 21% from the prior year. Is New 90 Day High Low • Oct 16
New 90-day low: €3.03 The company is down 15% from its price of €3.57 on 17 July 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €235 per share. Is New 90 Day High Low • Sep 25
New 90-day low: €3.11 The company is down 9.0% from its price of €3.40 on 26 June 2020. The French market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 7.0% over the same period.