Malin Corp PLC - Ireland-headquartered investor in life sciences companies - Says fair value estimate of investee companies increases to EUR412 million at end of 2020 from EUR366 million at end of 2019.
"This valuation uplift is primarily due to our higher fair value estimate for Kymab, reflecting the positive developments in that business, and a higher mark-to-market valuation of our investment in Poseida," says Malin.
This has increased further to EUR449 million at March 19, driven by Immunocore, company adds.
Malin's estimated intrinsic equity value per share at end of 2020 was EUR8.48, increasing to EUR9.32 at March 19.
Adds that it expects the sale of Kymab to Sanofi to close in the second quarter, which will enable the initiation of capital returns to shareholders.
"For Malin and our investee companies, I am confident that we will see continued operational, clinical and transactional progress in the year ahead," company says.
Current stock price: EUR5.75
Year-to-date change: up 40%
By Lucy Heming; lucyheming@alliancenews.com
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