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Crossject

CR
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Things get going
Target
Upside 489%
Price (€) 1.9
Market Cap (€M) 69.4
Perf. 1W: 12.4%
Perf. 1M: 1.06%
Perf. 3M: -4.72%
Perf Ytd: -61.4%
10 day relative perf. to stoxx600: 14.4%
20 day relative perf. to stoxx600: 11.9%
Latest18/06/2021 12:02

Another good piece of news for the group

The Barda has launched its call for tender on Midazolam autoinjectors

Crossject is in a good position to compete

This could boost further Zeneo’s credibility and Crossject’s share price


Fact

The Barda has launched its long-awaited call for tender for Midazolam autoinjectors


Analysis

A call for tender for the supply of Midazolam autoinjectors (among others in the field of epilepsy) had just been launched by the Barda, as was expected although the process took longer than first thought. As a reminder, the Barda is the acronym of the biomedical Advanced Research and Development Authority, in charge of market approvals. It is the US Department of Health and Human Services office responsible for the procurement and development of medical countermeasures, principally against bioterrorism, including chemical, biological, radiological and nuclear threats, as well as pandemic influenza and emerging diseases. This news is clearly positive for Crossject (after the licensing agreement reached with Eton Pharmaceuticals announced earlier in the week), as it should demonstrate the merits of Crossject’s Zeneo injection device. Of course, we expect a positive market reaction. Note we so far expect about 1.5m Midazolam autoinjectors to be sold by 2026 (globally) with a 50% probability. Today’s news can help the group reach such a target.


Impact

We will not amend our numbers at this stage, but will update all our assumptions (i.e. on all product launches planned, both in terms of quantities and prices) within the next few days.


Updates
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