Edison Issues Outlook on Photocure (PHO)

LONDON, September 21, 2016 /PRNewswire/ --

Photocure is a commercial-stage Norwegian specialty pharmaceutical company that currently markets Hexvix/Cysview, an optical imaging agent for diagnosing and managing bladder cancer. The franchise is currently profitable and sales are growing at a 22% rate so far this year. The company is Phase III-ready for Cevira, a treatment for HPV-related diseases of the cervix, and for Visonac, for moderate to severe inflammatory acne. We value Photocure at NOK1,455m or NOK68/share.

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We value Photocure at NOK1,455m or NOK68 per basic share, down from NOK1,591m or NOK74 per basic share previously. This is mainly due to Hexvix/Cysview sales in the US tracking lower that we had expected. Upcoming catalysts will be the completion of enrolment for the Phase III for Hexvix/Cysview to expand into the surveillance market, final results from that trial and potential partnerships for both Visonac and Cevira.

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About Edison: Edison is an international equity research firm with a team of over 110 analysts, investment and roadshow professionals and works with both large and smaller capitalised companies, blue chip institutional investors, wealth managers, private equity and corporate finance houses to support their capital markets activity. Edison provides services to more than 420 retained corporate and investor clients from offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority.

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For more information please contact:

Maxim Jacobs
Edison Investment Research
+1-646-653-7027

Nathaniel Calloway
Edison Investment Research
+1-646-653-7036
[email protected]

SOURCE Edison Investment Research

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