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Catalyst Potential

It is important to look beyond the numbers and seek a likely catalysts, which could unlock value, and estimate how long it will take for the catalyst to play out. These events, or Catalyst Potential, reduce risk by narrowing the gap between price and value in a more predictable way. This is particularly important when investing in a low-quality business where time is like a ticking bomb stacked against the company.

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Redeye Rating

Klas Palin

Equity Analyst

klas.palin@redeye.se

+46854501344

Company Quality

  • 6.0
  • 5.0
  • 4.5
  • 0.0
  • 2.0

Leadership

Exclusive for members
The Company’s Board appears competent and well composed. Senior executives have extensive experience of working in the pharmaceutical sector. To date, results have been delivered relatively well and as planned, with only minor delays to studies on the downside. The great measure of value will be if management and the Board are able to derive major gains from the company’s projects. Remuneration and incentive programmes appear to be well balanced.

Ownership

Exclusive for members

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Profit outlook

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Profitability

Exclusive for members

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Capital Strength

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Key Model Assumptions - The Bear Case

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Key Model Assumptions - The Bull Case

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Key Model Assumptions - The Base Case

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Latest price

Exclusive for members

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Fair Value Range

Last Price
Key Model Assumptions - The Bear Case
Key Model Assumptions - The Bull Case
Key Model Assumptions - The Base Case

Catalyst Potential

Impact

Timeframe

Short
Mid
Long

Company description

Pledpharma är ett forsknings- och utvecklingsbolag med två projekt i klinisk fas; PledOx (reducera biverkningar från cellgifter) och PP-099 (hjärtinfarkt). Strategin är att utveckla läkemedel till och med fas 2 för att därefter licensiera ut eller sälja projekt till läkemedelsbolag som driver utvecklingen vidare och står för kommersialisering. Intäkter från denna modell kan komma att utgöras av kontantersättning, milstolpsersättningar och royalty från framtida försäljning. Read more...
Pledpharma är ett forsknings- och utvecklingsbolag med två projekt i klinisk fas; PledOx (reducera biverkningar från cellgifter) och PP-099 (hjärtinfarkt). Strategin är att utveckla läkemedel till och med fas 2 för att därefter licensiera ut eller sälja projekt till läkemedelsbolag som driver utvecklingen vidare och står för kommersialisering. Intäkter från denna modell kan komma att utgöras av kontantersättning, milstolpsersättningar och royalty från framtida försäljning.
Bolaget saknar idag produkter i marknaden och har därför inga löpande intäkter. Under 2013 uppgick rörelseresultatet till -26 miljoner kronor. Förlusten förväntar vi oss ökar 2014 som en effekt av en högre klinisk aktivitet kring PledOx. Nuvarande finansiering bedömer vi är tillräcklig för att syna korten i PLIANT-studien.
Pledpharma bildades 2006 för att kapitalisera på forskning som inleddes redan 1992. Bolagets huvudkontor ligger i Stockholm. Organisationen är liten och kompakt med endast fyra heltidsanställda och leds av vd Jacques Näsström. Modellen är kostnadseffektiv, men förutsätter stark kärnkompetens hos de anställda som i stor utsträckning agerar projektledare.
Bolaget har ett antal godkända patent och patentansökningar som vid godkännande kan ge ett exklusivt skydd för PledOx till och med 2032.
Pledpharmas aktier är sedan 2011 listade på First North.
Less...

TODAY

Day High
13.00
12.60
0.85
+ 7.2%
Day Low
11.65
Day Open
11.65
Prev Close
12.60
VWAP
12.5
Volume
146K
Turnover
1.825M
Top Broker
VWAP
12.2
Avg Volume
93K
Avg Turnover
1.129M
Top Brokers
NON/AVA

52 WEEK SUMMARY

Price Range
Beta
n/a
Market Cap
613.2M
Total Return
-74.5%
Trailing P/E
-14.7
Div Yield
0.0%
Shares Outstanding
48.7M
Next Earnings Date
25 Apr
Stock Exchange
First North Stockholm

Identify and measure trend strength in stocks with our Momentum tool to identify potential entry and exit signals. The tool provides a set of the most simple but powerful indicators that identify whether a stock is under sell or buy pressure.

Relative Price Strength
Rel Price Chg 3 Months -18.3%
Rel Price Chg 12 Months -78.3%
Volume Trend
Avg Vol 10 vs 60 Days 15.1%
Price vs...
52-Week High -75.2%
50-Day Moving Average -9.6%
200-Day Moving Average -45.6%

Historic pricing of PledPharma

Last price: 12.60 SEK

Loading data...

Prev Close [[ prevClose|number:2 ]] SEK Change [[ changeValue|number:2 ]] %
High [[ highValue|number:2 ]] SEK Avg Daily Volume [[ avgVolume|number:0 ]] Shares
Low [[ lowValue|number:2 ]] SEK Avg Daily Turnover [[ graphAvgTurnover|number:2 ]] SEK

Management

Jacques Näsström, CEO
Michaela Gertz, CFO

Executive Board

Håkan Åström, Chairman of the board
Andreas Bunge
Martin Nicklasson
Sten Nilsson
Eva Redhe Ridderstrand

Last updated: 2016-11-29 Source: Redeye

Major Holders

Owner Equity Votes
Staffan Persson 25.7%
25.7%
Peter Lindell 16.1%
16.1%
SHB fonder 5.3%
5.3%
Avanza Pension Försäkring 3.0%
3.0%
Carl Roswall 2.9%
2.9%
Andreas Bunge 2.5%
2.5%
Karin Almén 1.7%
1.7%
Nordnet Pension 1.6%
1.6%
Per Josefsson 1.6%
1.6%
Swedbank Försäkring 1.6%
1.6%

Last updated: 2016-11-29 Source: Redeye

Insider transaction summary

Total insider purchases and sales reported

Timeframe Transactions Net Shares
Last 12 Weeks

0 Purchases

+ 0

0 Sales

- 0

Last 24 Weeks

0 Purchases

+ 0

0 Sales

- 0

Most recent insider transactions

Exclusive for members
Report Date Name Position Transaction Shares Chg Est Value (SEK)
2015-12-15 Kvist, Kim ANB Sale + 100 165
2015-12-15 Kvist, Malin ANB Sale + 35 163
2015-12-15 Svensson, Sture ANB Sale + 37 120
2015-12-15 Svensson, Kim ANB Sale + 39 53
2015-12-15 Svensson, Kim ANB Sale + 85 183

Source: Millistream – FI

More
  • Profitability
  • ROE
  • ROCE
  • ROIC
  • EBITDA margin
  • EBIT margin
  • Net margin
  • Per share data (SEK)
  • EPS
  • EPS adj
  • Dividend
  • Net debt
  • Total shares
  • Valuation
  • EV (SEKm)
  • P/E
  • P/E diluted
  • P/Sales
  • EV/Sales
  • EV/EBITDA
  • EV/EBIT
  • P/BV
  • Capital structure
  • Equity ratio
  • Debt/equity ratio
  • Net debt (SEKm)
  • Capital employed (SEKm)
  • Capital turnover rate
Previous year Next year
2014
  • -70.4%
  • -70.2%
  • 1,846.9%
  • 0.0%
  • 0.0%
  • 0.0%
  • -1.71
  • -1.71
  • 0.00
  • -3.54
  • 28.3M
  • 256.3
  • -7.4
  • -7.4
  • 0.0
  • 0.0
  • -5.3
  • -5.3
  • 3.9
  • 87.6%
  • 0.0%
  • -100
  • -10
  • 0.0
2015
  • -63.1%
  • -63.1%
  • 455.5%
  • -89,698.0%
  • -89,630.6%
  • -89,314.3%
  • -1.54
  • -1.54
  • 0.00
  • -1.77
  • 28.4M
  • 307.3
  • -8.2
  • -8.2
  • 7,300.0
  • 6,272.2
  • -7.0
  • -7.0
  • 7.4
  • 91.7%
  • 0.0%
  • -50
  • -2
  • 0.0
2016E
  • -17.1%
  • -17.1%
  • 1,619.2%
  • -942,350.0%
  • -942,350.0%
  • -939,450.0%
  • -0.77
  • -0.77
  • 0.00
  • -8.05
  • 48.7M
  • 221.6
  • -16.3
  • -16.3
  • 89,425.0
  • 55,397.0
  • -5.9
  • -5.9
  • 0.9
  • 98.9%
  • 0.0%
  • -392
  • -1
  • 0.0
2017E
  • -24.6%
  • -24.6%
  • 7,366.4%
  • -2,210,075.0%
  • -2,210,075.0%
  • -2,135,075.0%
  • -1.75
  • -1.75
  • 0.00
  • -6.38
  • 48.7M
  • 302.8
  • -7.2
  • -7.2
  • 153,300.0
  • 75,697.8
  • -3.4
  • -3.4
  • 2.0
  • 97.3%
  • 0.0%
  • -310
  • -5
  • 0.0
2018E
  • -27.8%
  • -27.8%
  • 1,407.4%
  • -1,900,000.0%
  • -1,900,000.0%
  • -1,862,500.0%
  • -1.53
  • -1.53
  • 0.00
  • -4.88
  • 48.7M
  • 375.7
  • -8.2
  • -8.2
  • 153,300.0
  • 93,922.7
  • -4.9
  • -4.9
  • 2.7
  • 95.8%
  • 0.0%
  • -238
  • -7
  • 0.0
2019E
  • -23.2%
  • -23.2%
  • 685.7%
  • -1,200,000.0%
  • -1,200,000.0%
  • -1,200,000.0%
  • -0.99
  • -0.99
  • 0.00
  • -3.89
  • 48.7M
  • 423.7
  • -12.8
  • -12.8
  • 153,300.0
  • 105,922.8
  • -8.8
  • -8.8
  • 3.4
  • 94.8%
  • 0.0%
  • -190
  • -7
  • 0.0
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • EBITDA
  • Depreciation
  • Amortization
  • Impairment charges
  • EBIT
  • Share in profits
  • Net financial items
  • Exchange rate dif.
  • Pre-tax profit
  • Tax
  • Net earnings
Previous year Next year
2014
  • 0
  • -49
  • -49
  • 0
  • 0
  • 0
  • -49
  • 0
  • 0
  • 0
  • -48
  • 0
  • -48
2015
  • 0
  • -44
  • -44
  • 0
  • 0
  • 0
  • -44
  • 0
  • 0
  • 0
  • -44
  • 0
  • -44
2016E
  • 1
  • 2
  • 0
  • 1
  • 9
  • 4
  • 7
  • 4
  • 0
  • 7
  • 2
  • 10
  • 0
Q1
  • 0
  • -7
  • -7
  • -0
  • 0
  • 0
  • -7
  • 0
  • 0
  • 0
  • -7
  • 0
  • -7
Q2
  • 0
  • -12
  • -12
  • -0
  • 0
  • 0
  • -12
  • 0
  • 0
  • 0
  • -12
  • 0
  • -12
Q3
  • 0
  • -8
  • -8
  • 0
  • 0
  • 0
  • -8
  • 0
  • 0
  • 0
  • -8
  • 0
  • -8
Q4E
  • 8
  • 7
  • 7
  • 0
  • 3
  • 3
  • 2
  • 0
  • 4
  • 8
  • 1
  • 4
  • 8
2016E
  • 1
  • 7
  • 4
  • 0
  • 2
  • 10
  • 4
  • 9
  • 7
  • 8
  • 7
  • 6
  • 6
2017E
  • 6
  • 1
  • 2
  • 8
  • 0
  • 9
  • 9
  • 7
  • 10
  • 7
  • 0
  • 5
  • 4
Q1E
  • 0
  • 9
  • 1
  • 5
  • 0
  • 5
  • 2
  • 10
  • 10
  • 8
  • 1
  • 9
  • 0
Q2E
  • 5
  • 7
  • 3
  • 8
  • 1
  • 1
  • 9
  • 3
  • 7
  • 5
  • 3
  • 2
  • 4
Q3E
  • 7
  • 6
  • 5
  • 8
  • 5
  • 3
  • 10
  • 9
  • 2
  • 1
  • 8
  • 2
  • 7
Q4E
  • 2
  • 6
  • 6
  • 6
  • 1
  • 8
  • 4
  • 6
  • 6
  • 4
  • 6
  • 2
  • 1
2017E
  • 9
  • 0
  • 6
  • 7
  • 0
  • 10
  • 9
  • 3
  • 7
  • 5
  • 6
  • 4
  • 2
2018E
  • 8
  • 4
  • 3
  • 5
  • 2
  • 6
  • 8
  • 6
  • 4
  • 3
  • 0
  • 10
  • 7
2019E
  • 5
  • 3
  • 9
  • 10
  • 5
  • 9
  • 0
  • 8
  • 2
  • 8
  • 10
  • 6
  • 7
Previous year Next year
    (SEKm)
  • Assets
  • Current assets
  • Cash in banks
  • Receivables
  • Inventories
  • Other current assets
  • Current assets
  • Fixed assets
  • Tangible assets
  • Associated comp.
  • Investments
  • Goodwill
  • Cap. exp. for dev.
  • O intangible rights
  • O non-current assets
  • Total fixed assets
  • Deferred tax assets
  • Total (assets)
  • Liabilities
  • Current liabilities
  • Short-term debt
  • Accounts payable
  • O current liabilities
  • Current liabilities
  • Long-term debt
  • O long-term liabilities
  • Convertibles
  • Total Liabilities
  • Deferred tax liab
  • Provisions
  • Shareholders' equity
  • Minority interest (BS)
  • Minority & equity
  • Total liab & SE
Previous year Next year
2014
  • 100
  • 0
  • 0
  • 3
  • 103
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 103
  • 0
  • 10
  • 3
  • 13
  • 0
  • 0
  • 0
  • 13
  • 0
  • 0
  • 91
  • 0
  • 91
  • 103
2015
  • 50
  • 0
  • 0
  • 2
  • 52
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 0
  • 52
  • 0
  • 2
  • 2
  • 4
  • 0
  • 0
  • 0
  • 4
  • 0
  • 0
  • 48
  • 0
  • 48
  • 52
2016E
  • 3
  • 1
  • 8
  • 9
  • 10
  • 5
  • 6
  • 10
  • 7
  • 5
  • 8
  • 10
  • 2
  • 5
  • 5
  • 5
  • 4
  • 6
  • 3
  • 2
  • 3
  • 1
  • 6
  • 3
  • 6
  • 1
  • 0
  • 3
  • 9
2017E
  • 4
  • 6
  • 8
  • 5
  • 3
  • 4
  • 5
  • 7
  • 1
  • 7
  • 0
  • 10
  • 3
  • 5
  • 5
  • 9
  • 9
  • 4
  • 2
  • 5
  • 3
  • 7
  • 8
  • 8
  • 10
  • 2
  • 3
  • 9
  • 4
2018E
  • 10
  • 1
  • 4
  • 7
  • 7
  • 10
  • 9
  • 1
  • 2
  • 7
  • 2
  • 8
  • 7
  • 6
  • 0
  • 3
  • 7
  • 2
  • 3
  • 3
  • 0
  • 4
  • 8
  • 3
  • 5
  • 1
  • 7
  • 0
  • 1
2019E
  • 2
  • 10
  • 0
  • 1
  • 1
  • 5
  • 5
  • 7
  • 9
  • 0
  • 2
  • 7
  • 3
  • 1
  • 6
  • 4
  • 1
  • 2
  • 1
  • 10
  • 10
  • 2
  • 9
  • 7
  • 2
  • 9
  • 7
  • 9
  • 0
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • Depreciations total
  • EBIT
  • Taxes on EBIT
  • NOPLAT
  • Depreciation
  • Gross cash flow
  • Change in WC
  • Gross CAPEX
  • Free cash flow
Previous year Next year
2014
  • 0
  • -49
  • 0
  • -49
  • 0
  • -49
  • 0
  • -49
  • 7
  • 0
  • -42
2015
  • 0
  • -44
  • 0
  • -44
  • 0
  • -44
  • -0
  • -44
  • -7
  • 0
  • -51
2016E
  • 8
  • 0
  • 4
  • 7
  • 4
  • 9
  • 8
  • 3
  • 1
  • 5
  • 3
2017E
  • 6
  • 8
  • 3
  • 2
  • 1
  • 5
  • 0
  • 7
  • 1
  • 8
  • 2
2018E
  • 10
  • 9
  • 6
  • 10
  • 7
  • 2
  • 0
  • 2
  • 10
  • 5
  • 7
2019E
  • 0
  • 7
  • 6
  • 5
  • 7
  • 3
  • 6
  • 0
  • 7
  • 5
  • 5
Previous year Next year
More