CSL's Alentis Licensing Deal Low-Risk, Low-Reward, RBC Capital Markets Says
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CSL's (ASX:CSL) deal with Alentis Therapeutics for Lixudebart, a therapy candidate for anti-neutrophil cytoplasmic antibodies-associated vasculitis and rapidly progressive glomerulonephritis, is low-risk but low-reward, RBC Capital Markets said in a Thursday note.
It noted that the clinical and commercial aspects of Lixudebart are unknown and the timeframe to first potential commercial revenues is fairly long. The deal's PoS adjusted net present value is AU$415 million.
RBC reduced CSL's earnings per share forecasts by 0.1% to 0.4% for fiscal 2027 to fiscal 2029.
The brokerage assigned an outperform rating to CSL and raised the price target to AU$215 from AU$213.
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