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Fusion Pharmaceuticals is closing a $ 75 million credit system with Oxford Finance


Video source: YouTube, Fusion Pharmaceuticals

Fusion Pharmaceuticals ( FUSN) closed a $ 75 million loan secured by Oxford Finance.

Fusion is developing next-generation radiopharmaceuticals as accurate drugs to treat a wide range of cancers in areas with high unmet need. The company combines isotopes that emit alpha particles with various target molecules to selectively deliver payloads that emit alpha particles to tumors.

For more than 20 years, Oxford has provided loans secured by public and private companies engaged in life sciences and health care, amounting to about $ 8.8 billion.

Fusion “TAT [targeted alpha therapy] The platform has the potential to increase the power of radiation that destroys tumors, and is designed for wider application for different types of tumors, ”said Christopher A. Herr, senior managing director of Oxford.

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Image source: Fusion Pharmaceuticals

Investment dissertation

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Fusion Pharmaceuticals went public in June 2020, raising $ 213 million in gross revenue of $ 17 per share through Morgan Stanley, Jefferies and Cowen. The market capitalization after the IPO was $ 708 million, but a week later the stock fell below the issue price and never recovered.

The market capitalization at the close on Tuesday of $ 7.62 is just $ 330 million.

Although the shares have been disappointing to date, we believe that investors have reason to be optimistic, especially at the current level.

  • As of December 31, 2021, Fusion had cash and its equivalent of $ 221 million, which, as the company said last month, would be enough to fund operations until 2023.
  • This latest $ 75 million loan provides a welcome pillow.
  • The company collaborates with leading companies and institutions including Astra Zeneca, Merck and the University of Ontario.
  • Fusion has several important developments on the horizon that could be a catalyst for stocks.
    • The first patients in phase 1 of the FPI-1966 trial for solid tumors expressing FGFR3 will be dosed in the second quarter of 2022.
    • The FDA will present the IND for FPI-2059, Fusion’s first small molecule program, expected in the second quarter of 2022.
    • Data from phase 1 trials of FPI-1434 in patients with solid tumors are expected in the second half of 2022.
  • Radiopharmaceuticals as a class of drugs have great prospects among cancer researchers. Charles Kunos, MD, MD, of the National Cancer Institute’s Cancer Evaluation Program (CTEP) says that radiopharmaceuticals “will change radiation oncology in the next 10-15 years.”


Source: Stock news

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