1. Most Discussed
  2. Gainers & Losers
CDY 38.5¢

New Baillieu Holst CDY valuation

  1. Taurean7

    1,204 Posts.
    Baillieu Holst has increased its target price for CDY to a range of between 8.0c to 30.0c per share (representing a valuation range for the company of $58.8 million to $220.7 million).

    http://www.cellmid.com.au/SiteMedia... 24 Baillieu Holst Report Cellmid Limited.pdf

    Since the financial arrangements for the recent Zoetis agreement have not been disclosed they have not contributed to the valuation result. Nor has any allowance been made for the Quest/Celera and Fujikara Kasel diagnostic agreements currently awaiting finalisation.

    The analysis notes that Zoetis is currently under pressure to bring new products to the market, with companion animals being a growing market opportunity. The added value of the Zoetis deal for Cellmid’s other human licensing opportunities has been commented upon.

    Success with Zoetis could open up other doors. We believe that if the Zoetis option converts into a licence then other human licensing opportunities may emerge, given the homology between animal and human midkine and the de-risking that animal studies would present to a potential licensee in human applications.”

    The analysis indicates that the current target price range has the potential to be re-rated during 2015.

    “We see a number of potential re-rating events coming up over the next twelve months, including:
    • A pre-IND meeting with the FDA on the anti-midkine cancer programme;
    • Commencement of the Phase I/II;
    • First revenues from Pacific Edge related to the bladder cancer diagnostic;
    • New distribution agreements for évolis; and
    • Early clinical work on midkine in alopecia.”

    The potential seen for Cellmid’s CAB102 immuno-oncology therapeutics program is informative. It provides some idea of the size of the playing field.

    “We assume that the cancer antibody licences in 2015-2016, for US$10-20m upfront, US$100-150m milestones and 10-14% royalties. We assume that the products launch by 2018-2019 and model peak sales of US$1.7-$2.2bn.”

    I reiterate the point that I have made in another thread that these exercises represent a fundamental valuation of the company and are not proposed as predictions of market prices.


Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.