XTRA:MDG1

Stock Analysis Report

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Executive Summary

Medigene AG, a clinical stage immuno-oncology company, focuses on the development of T cell immunotherapies for the treatment of cancer.


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

How has Medigene's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MDG1's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.2%

MDG1

1.7%

DE Biotechs

4.3%

DE Market


1 Year Return

-31.1%

MDG1

9.3%

DE Biotechs

0.3%

DE Market

Return vs Industry: MDG1 underperformed the German Biotechs industry which returned 9.3% over the past year.

Return vs Market: MDG1 underperformed the German Market which returned 0.3% over the past year.


Shareholder returns

MDG1IndustryMarket
7 Day3.2%1.7%4.3%
30 Day18.4%18.5%7.4%
90 Day20.3%15.3%-0.2%
1 Year-31.1%-31.1%9.6%9.3%2.0%0.3%
3 Year-56.0%-56.0%17.7%16.1%-5.0%-12.3%
5 Year-42.0%-42.0%19.1%16.9%4.2%-9.2%

Price Volatility Vs. Market

How volatile is Medigene's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Medigene undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MDG1 (€5.19) is trading below our estimate of fair value (€31.23)

Significantly Below Fair Value: MDG1 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MDG1 is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: MDG1 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MDG1's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MDG1 is good value based on its PB Ratio (1.6x) compared to the DE Biotechs industry average (5.2x).


Next Steps

Future Growth

How is Medigene forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

37.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MDG1 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MDG1 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MDG1 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MDG1's revenue (37.6% per year) is forecast to grow faster than the German market (5.7% per year).

High Growth Revenue: MDG1's revenue (37.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MDG1 is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Medigene performed over the past 5 years?

-22.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MDG1 is currently unprofitable.

Growing Profit Margin: MDG1 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MDG1 is unprofitable, and losses have increased over the past 5 years at a rate of -22.9% per year.

Accelerating Growth: Unable to compare MDG1's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MDG1 is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (16.5%).


Return on Equity

High ROE: MDG1 has a negative Return on Equity (-24.4%), as it is currently unprofitable.


Next Steps

Financial Health

How is Medigene's financial position?


Financial Position Analysis

Short Term Liabilities: MDG1's short term assets (€57.7M) exceed its short term liabilities (€10.2M).

Long Term Liabilities: MDG1's short term assets (€57.7M) exceed its long term liabilities (€17.2M).


Debt to Equity History and Analysis

Debt Level: MDG1 is debt free.

Reducing Debt: MDG1 has not had any debt for past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MDG1 has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: MDG1 has sufficient cash runway for 2.3 years if free cash flow continues to reduce at historical rates of 5.7% each year.


Next Steps

Dividend

What is Medigene's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MDG1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MDG1's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MDG1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MDG1's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MDG1's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Dolores Schendel

4.25yrs

Tenure

€487,000

Compensation

Prof. Dr. Dolores J. Schendel has been the Chief Executive Officer and Member of Executive Management Board at MediGene AG since February 1, 2016 and May 1, 2014 respectively. Prof. Dr. has been the Chief  ...


CEO Compensation Analysis

Compensation vs Market: Dolores's total compensation ($USD538.42K) is about average for companies of similar size in the German market ($USD417.67K).

Compensation vs Earnings: Dolores's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Dolores Schendel
CEO, Chief Scientific Officer & Member of Executive Management Board4.25yrs€487.00kno data
Horst Domdey
Co-Founder & Member of the Supervisory Board7.33yrs€33.00k0.16% 203.1k
Axel Malkomes
CFO, Chief Business Development Officer & Member of Executive Management Board1.08yrs€687.93kno data
Kai Pinkernell
Chief Medical Officer2.08yrs€457.00kno data
Ernst-Ludwig Winnacker
Co-Founder & Chairman Scientific Advisory Board2.75yrs€20.00kno data
Gary Waanders
Vice President of Investor Relations0.58yrno datano data

2.1yrs

Average Tenure

Experienced Management: MDG1's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Horst Domdey
Co-Founder & Member of the Supervisory Board7.33yrs€33.00k0.16% 203.1k
Ernst-Ludwig Winnacker
Co-Founder & Chairman Scientific Advisory Board2.75yrs€20.00kno data
Keith Manchester
Member of Supervisory Board3yrs€23.00kno data
Antoinette Hiebeler-Hasner
Deputy Chairwomen of the Supervisory Board3.75yrs€35.00kno data
Gerd Zettlmeissl
Chairman of the Supervisory Board1yr€39.00kno data
Ronald Scott
Member of Supervisory Board3yrs€27.00kno data
Frank Mathias
Member of the Supervisory Board2yrs€27.00k0.082% 104.8k
Peter Krammer
Member of Scientific Advisory Board2.75yrsno datano data
Yi-Ta Lee
Member of the Supervisory Board6.83yrs€26.00kno data
Micha Drukker
Member of Scientific Advisory Board2.75yrsno datano data

2.9yrs

Average Tenure

61yo

Average Age

Experienced Board: MDG1's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Medigene AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Medigene AG
  • Ticker: MDG1
  • Exchange: XTRA
  • Founded: 1994
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €127.480m
  • Shares outstanding: 24.56m
  • Website: https://www.medigene.com

Number of Employees


Location

  • Medigene AG
  • Lochhamer Strasse 11
  • Planegg/Martinsried
  • Munich
  • Bavaria
  • 82152
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MDG1DB (Deutsche Boerse AG)YesCommon StockDEEURJun 2000
MDG1XTRA (XETRA Trading Platform)YesCommon StockDEEURJun 2000
0QGJLSE (London Stock Exchange)YesCommon StockGBEURJun 2000
MDGE.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJun 2000
MDG1DBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJun 2000
MDG1SWX (SIX Swiss Exchange)YesCommon StockCHCHFJun 2000
MDG1WBAG (Wiener Boerse AG)YesCommon StockATEURJun 2000
MDG1ETLX (Eurotlx)YesCommon StockITEURJun 2000

Biography

Medigene AG, a clinical stage immuno-oncology company, focuses on the development of T cell immunotherapies for the treatment of cancer. The company operates in two segments, Immunotherapies and Other products. It is developing personalized T cell-based therapies, with a focus on T cell receptor-modified T cells and associated projects, which are in pre-clinical and clinical development. It also focuses on DC vaccines and T cell-specific monoclonal antibodies. In addition, the company focuses on developing and marketing RhuDex for hepatology and gastroenterology indications. Medigene AG has a strategic partnership with bluebird bio, Inc. for the development of T cell receptors. The company also has research collaboration agreements on novel cancer antigens for immunotherapies with the Université de Montréal and Institute for Research in Immunology and Cancer — Commercialization of Research, Canada; and with Cytovant Sciences Co. Ltd. and PHIO Pharmaceuticals Corp. It has operations in Europe, the United States, Greater China, and internationally. The company was founded in 1994 and is headquartered in Munich, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/29 22:21
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.