Edison Issues Outlook on Crossject (ALCJ)

LONDON, UK / ACCESSWIRE / October 3, 2017 / Crossject (FRA: 74C) has developed a deep pipeline of products that are based on its proprietary needle-free injection system, Zeneo, across a variety of indications with a focus on emergency-related areas. In addition to avoiding needles, Zeneo provides a simple and quick (~1/10th of a second) delivery of the drug. Recently, the company has added Zeneo Terbutaline for the acute treatment of exacerbations in severe asthmatics. This is a large market (~2.5m in the US) in need of better choices for patients.

We have increased our valuation for Crossject from €87.4m, or €9.91 per basic share, to €121m, or €13.72 per basic share. This was almost entirely due to the inclusion of Zeneo Terbutaline in the pipeline and an increase in our expectations for Zeneo Naloxone and was mitigated by delayed launch timelines and a lower cash balance. As of H117, the company has a cash position of €6.1m and expects to receive an additional €5.9m by year-end 2018. Between now and projected profitability in 2020, we forecast a total funding need of €20m.

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