Due to a higher probability of success in current clinical trials (results due in mid-2019), target price increased to NIS 1.12
Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program
TEL AVIV, Israel, Oct. 11, 2018 /PRNewswire/ -- The TASE analysis project was launched in 2016 in order to raise the investors' level of knowledge of TASE listed technology
In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.
Summary of Highlights
Kadimastem published an immediate report on October 9, 2018. The company reported on the world's first transplantation of embryonic stem cells and the completion of 5 patients' enrollment for Cohort A. The very success of the implantation is an initial confirmation of the safety of cellular therapy:
In our view, this means confirming our assessment of the progress of the clinical trial. The expected results of the experiment in mid-2019 are known and included in our economic model. However, the recruitment of 5 patients and successful transplantation increases the probability of success of the entire clinical trial. We will examine the continued recruitment of patients and analyze it in our upcoming quarterly report.
Thus, we raise our valuation for the company to NIS 69 million (our previous estimate was NIS 52 million), at a target price of NIS 1.03 to NIS 1.21; Average of NIS 1.12.
About the company - Kadimastem Ltd. (hereinafter "Kadimastem" or "the company") is a clinical stage biopharmaceutical company that specializes in developing different types of human body cells (known as differentiated cells) – such as neural cells (e.g. oligodendrocytes and astrocytes) and insulin secreting beta cells, derived from human embryonic stem cells. The company has its technological platform and two current stem cell based therapies in research phase – AstroRx (consists of astrocytes, a type of brain cell) and Encapsulin (insulin secreting beta cells) for treating amyotrophic lateral sclerosis (ALS) and diabetes respectively.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Contact: Kristi Cekani Corporate Communications - Frost & Sullivan, Europe P: +39.02.4851.6133 E: email@example.com http://www.frost.com
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