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BELLUS Health Inc.

TICKER: BLU:TSX; BLUSF:OTCPK

BELLUS Health Inc. is a drug development company focused on rare diseases. Based in Laval, Quebec, the company has a portfolio of rare disease projects including KIACTA for AA amyloidosis (an orphan indication resulting in renal dysfunction that often rapidly leads to dialysis and death), clinical-stage Shigamab for Shiga toxin-producing Escherichia coli-related hemolytic uremic syndrome, and a research-stage project for AL amyloidosis. Its lead program, KIACTA, is partnered with global private equity firm Auven Therapeutics LLLP and is currently in phase 3 confirmation study.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Life Sciences Report Interview with Hugh Cleland (3/19/14) "BELLUS Health Inc. presented to our advisory board back in May 2013 and came out as one of the favorites. . .one thing that really grabbed me was the enormous valuation disparity that has existed for a variety of very unusual circumstances. With BELLUS, you have a fully funded orphan drug candidate called Kiacta (eprodisate disodium, an orally available small molecule) that is in a phase 3 trial reasonably close to the end of enrollment. The drug is being tested in a lethal disease called AA amyloidosis, which affects 50,000 people in the U.S., Europe and Japan.

The company indicates expected peak sales of around US$500M, but our research suggests we could see peak sales significantly higher than that, perhaps as high as US$1B. Yet somehow, the company is still trading at a fully diluted enterprise value of less than US$35M. I have never seen a fully funded phase 3 asset with such a big market opportunity trade at such a ludicrously low valuation." More >

Pooya Hemami, Edison Investment Research (1/7/14) "BELLUS Health Inc. has announced that it now expects the event-driven phase 3 study for Kiacta in AA amyloidosis to be completed in 2016, earlier than the previously anticipated target of 2017. A reduction in the time to study data, and potentially for Kiacta to reach the market, is a positive development and we raise our risk-adjusted NPV valuation to CA$40M (versus CA$26M), or CA$0.87/share (including cash, fully diluted)."

Pooya Hemami, Edison Investment Research (11/8/13) "BELLUS Health Inc. has divested its Vivimind and BLU8499 noncore assets in order to strengthen its focus on its orphan disease drug candidates, Kiacta and Shigamabs. . .the company is fully funded until the Kiacta study results. . .we continue to estimate a 60% probability of Kiacta's success based on an expected 2018 commercial launch in AA amyloidosis."

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BELLUS Health Inc. Content



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