Edison issues update on ASLAN Pharmaceuticals (ASLN)

LONDON, July 09, 2018 (GLOBE NEWSWIRE) -- ASLAN announced in July 2018 that it has received clinical trial authorisation in Singapore to conduct a Phase I study of ASLAN004 for the treatment of atopic dermatitis (AD). The product is a monoclonal antibody targeting interleukin 13 receptor α 1 (IL13Rα1). The Phase I dosing study will consist of a single dose escalation in healthy volunteers and a multiple dose escalation in AD patients.

We have increased our valuation to $399m or $12.13 per ADS from $364m or $11.04 per ADS due to the inclusion of ASLAN004. We arrive at a peak sales forecast of $587m based on conservative estimates of future market share (2%). The inclusion of the programme in our forecasts has increased our financing requirement by $22m to $82m, although we expect this to be offset by the out-licensing of assets.

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