- Outperform statement following webcast presentations to investors on 7 August, 2018
- Statement is based on commercial roll-out plans presented by Elanix Management
- Share price target indicated by goetzpartners remains at EUR 6.40
Quotes taken from the Flash Note by goetzpartners securities published on 8 August: «We remain enthusiastic about the commercial outlook of Elanix’s Advanced Skin Care ("ASC") and Advanced Wound Care ("AWC") assets, based on their differentiated profiles, large target markets and unmet medical needs. Hence, we maintain and reiterate both our OUTPERFORM recommendation and target price of EUR 6.40 per share».
The outperform recommendation is based on the commercial roll-out of GYNrepair® and the market launch of SKINrepair® in October 2018 with increased sales activities, with the targeted approach to 50 large pharmacies and drugstores key accounts in Germany, France, Switzerland, UK, Italy and Spain, with signed distribution agreements in Benelux, Switzerland and Russia and with approaching distribution partners in the US and Japan.
In addition, Elanix Management has announced plans to launch two additional ASC products in each 2019 and 2020, bringing the total of six ASC products by 2020. Revenues from additional ASC assets, which include gels, masks and creams, will be used to co-finance the further investments into the industrialization and market authorization of AWC portfolio. Financial outlook is anticipating break-even in 2020 and revenues of 33.5 MEUR in 2022.
New COO & CFO Egon Minar is bringing a wealth of commercial expertise to Elanix. With the successful completion of the ongoing capital increase Elanix intends to appoint a finance director who would take over the CFO role in due course to allow Egon Minar to fully focus on operational and commercial activities as well as investor relations.
Press contact:
Elanix Biotechnologies
Tomas Svoboda, CEO
Tel: +41 (0)22 363 66 40
investor.relations@elanix-bt.com
Disclaimer
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Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities referred to herein may not be offered or sold in the United States of America in the absence of registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of Elanix Biotechnologies AG have not been, and will not be, registered under the Securities Act.
This announcement does not constitute a recommendation concerning the placement of securities described in this announcement. Investors should consult a professional advisor as to the suitability of the Placement for the person concerned.
In the United Kingdom, this document is only directed at persons who (i)are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.)(all such persons together being referred to as "Relevant Persons"). This document must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
In member states of the European Economic Area which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer, if made subsequently, is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Directive. For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.
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This announcement also does not constitute a prospectus within the meaning of the EU Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 as amended ("Prospectus Directive").
Forward-looking statements
This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
