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DERM

Dermira

$9.51

-0.405 (-4.08%)

05:23
06/25/19
06/25
05:23
06/25/19
05:23

Almirall exercises option with Dermira to license rights to lebrikizumab in EU

Almirall and Dermira announced that Almirall has exercised its option to license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe. Almirall and Dermira previously entered into an option and license agreement in February pursuant to which Almirall was granted this exclusive option in exchange for an upfront option fee of $30M. As a result of Almirall's decision to exercise its option, the company will pay Dermira $50M, and Dermira will be eligible to receive additional payments upon the achievement of certain milestones, including $30 million in connection with the initiation of certain Phase 3 clinical studies. Under the terms of the option and license agreement entered into between Almirall and Dermira in February, Almirall paid Dermira an upfront option fee of $30 million in exchange for an option to acquire an exclusive license to develop lebrikizumab in dermatology indications and commercialize lebrikizumab in all indications in Europe. As a result of its decision to exercise its option, Almirall will pay Dermira an option exercise fee of $50M. In addition, Almirall will make additional payments to Dermira upon the achievement of certain milestones, including $30M in connection with the initiation of certain Phase 3 clinical studies and up to $85M upon the achievement of regulatory milestones and the first commercial sale of lebrikizumab in Europe. Dermira will also be entitled to receive milestone payments upon the achievement of certain thresholds for net sales of lebrikizumab in Europe, as well as royalty payments representing percentages of net sales that range from the low double-digits to the low twenties.

DERM Dermira
$9.51

-0.405 (-4.08%)

03/27/19
HCWC
03/27/19
NO CHANGE
Target $22
HCWC
Buy
Dermira price target raised to $22 from $13 at H.C. Wainwright
H.C. Wainwright analyst Douglas Tsao raised his price target for Dermira to $22 from $13 saying the company last week announced "very strong" data from the Phase 2B Treble study for lebrikizumab in the treatment of atopic dermatitis. The data arguably represents a "best case" scenario for Dermira, Tsao tells investors in a research note. The results were "sufficiently compelling to put to rest any debate" whether the company should move into lebrikizumab into Phase 3 testing, contends the analyst. He raised his peak sales estimate for lebrikizumab to $2.5B, up from $1.5B, and keeps a Buy rating on Dermira.
04/18/19
CANT
04/18/19
NO CHANGE
Target $25
CANT
Overweight
Dermira price target raised to $25 from $20 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen raised her price target on Dermira to $25 as she is now including an estimate for sales for lebrikizumab following the positive Phase 2b data readout in atopic dermatitis. Chen keeps an Overweight rating on Dermira shares.
04/18/19
CANT
04/18/19
NO CHANGE
Target $25
CANT
Overweight
Cantor sees 'golden egg' potential in Dermira, boosts price target to $25
Cantor Fitzgerald analyst Louise Chen raised her price target for Dermira to $25 from $20 and reiterates an Overweight rating on the shares. The stock in afternoon trading is up 14c to $11.27. Peak sales potential of Qbrexza for hyperhidrosis and lebrikizumab for atopic dermatitis are underappreciated, Chen tells investors in a research note ahead of the long Easter weekend titled "We Think This Bunny Could Lay The Golden Egg." The analyst also thinks Dermira is an "interesting company in a consolidating space." Her new price target reflects the inclusion of Lebrikizumab sales following the positive Phase 2b data readout earlier this year.
06/06/19
MZHO
06/06/19
UPGRADE
Target $14
MZHO
Buy
Dermira upgraded to Buy from Neutral at Mizuho
Mizuho analyst Irina Koffler upgraded Dermira to Buy from Neutral while lowering her price target for the shares to $14 from $17. The analyst expects Almirall to exercise its European rights to lebrikizumab and she sees potential upside from other strategic alternatives. She attributes the 40% share selloff since April to financing uncertainty and the "lackluster" performance of Qbrexza. However, she views Dermira's risk/reward as favorable into Almirall's decision. The stock trades in-line with Koffler's $9 bear-case scenario, which assumes that Almirall opts out of the deal.

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AMZN

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BHVN

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$44.16

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CE

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F

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UTX

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LMT

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MEOH

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SHIP

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SONM

Sonim

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KINS

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