Vator Securities: Xbrane Biopharma: Pop up on your boards – “the third wave” of biosimilars is rather a tsunami.
Xbrane provides an exceptionally attractive exposure to the rapidly growing biosimilars market without the significant clinical and approval risk that is often present in biotech companies. 2019 proved to be a real tipping point with rapid uptake of the more recent biosimilar launches. It is nowadays trivial to question the attractiveness of the biosimilar market opportunity; the interesting question is rather which players have the best fit to capture this opportunity. We believe that Xbrane stands well-positioned for this with Xlucane progressing through the low-risk pivotal phase III