Edison Investment Research Limited
Edison Issues Update on Quantum Genomics (ALQGC)
Monday, April 1, 2019 7:20 AM
LONDON, UK / ACCESWIRE / April 1, 2019 / Quantum Genomics (PARIS: ALQGC) recently reported its 2018 annual results and updated development timelines. Results from the pharmacokinetic study of sustained-release (once per day) firibastat as well as the initiation of the 294-patient Phase IIb QUORUM study in heart failure are both expected in Q219. The company is also planning to initiate its Phase III trial hypertension in H219. In addition, it is currently in discussions with a number of potential partners for the firibastat programme following the strong NEW-HOPE data.
We have adjusted our valuation of Quantum Genomics to €860m or €52.43 per share from €803m or €66.91 per share. The total valuation has increased due to rolling forward our NPVs and a higher net cash level, while the valuation per share has decreased due to a higher share count as the company utilised an equity line with Kepler Cheuvreux. Quantum had €14.8m in cash at end 2018 and has utilised an additional €2.6m of its equity line since then, which should fund the company's trials to the end of 2019.
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SOURCE: Quantum Genomics (ALQGC)