In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Formycon AG, with a price target of €48.00.
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Yi Chen has given his Buy rating due to a combination of factors including the successful launch of Formycon’s ranibizumab biosimilar, FYB201, in Europe. This product, introduced in a pre-filled syringe format, offers significant advantages such as reduced preparation time and increased dosing accuracy, which could enhance its market penetration and drive royalty revenues for Formycon. Additionally, the recent regulatory challenges faced by a competitor, Xbrane Biopharma, in the U.S. position Formycon favorably as its partner, Sandoz, prepares to market FYB201 in the U.S. by the first half of 2026.
Furthermore, Formycon’s strategic settlement regarding FYB203 with Regeneron Pharmaceuticals paves the way for its U.S. launch in the fourth quarter of 2026, potentially earlier. This settlement resolves patent disputes and grants exclusive commercial rights to Valorum Biologics in the U.S. and Canada. Lastly, the anticipated results from the Dahlia trial of FYB206, expected in the first quarter of 2026, could further bolster Formycon’s pipeline, enhancing its long-term growth prospects. These developments collectively support Yi Chen’s optimistic outlook and Buy rating for Formycon AG.